RIMS recently presented its 2012 Enterprise Risk Management Award of Distinction to the YMCA of Greater Toronto, recognizing its risk intelligence program.
Through its risk tools and techniques, the YMCA produced early average results of 25% growth in monthly membership sales at one of its Health, Fitness and Recreation centers, with phased replication and reach in other communities, according to RIMS.
“Our YMCA risk strategy has evolved through integrative thinking that is generating new perspectives and tools, enabling us to respond successfully to the changing needs of communities we serve,” Monica Merrifield, vice president of risk intelligence for YMCA of Greater Toronto noted.
RIMS also gave honorable mention global food product company Sysco Corp., whose ERM program has helped the company’s various siloed businesses become more integrated and interconnected.
“Enterprise risk management has become an increasingly important organizational competency that not only protects organizations from detrimental risks but has proven to help identify positive risks that can lead to profitable opportunities,” Carol Fox, RIMS director of strategic and enterprise risk practice said in a statement.
“The YMCA of Greater Toronto and Sysco Corporation are shining examples of how risk management can create value for an organization and their work is truly deserving of this honor.”
Judging criteria for the ERM Award of Distinction includes the scope of the ERM program and how it engages different levels throughout the organization; the programs link or connection to the company’s overall mission; and its ability to create additional value for the organization.