RIMS task force to focus on developing long-range plan for organization, president says

DENVER, Colo. – The RIMS 2020 Task Force has been created to focus on developing a long-range plan for the organization and will also align with RIMS president Carolyn Snow’s main focus areas for 2014.

The task force – consisting of board members, RIMS staff and risk managers – will focus on developing a long-range plan for RIMS, which represents more than 3,500 industrial, service, nonprofit, charitable and government entities worldwide, Snow told a packed room during the opening ceremonies of the RIMS 2014 Annual Conference & Exhibition in Denver.

The 2014 focus areas are as follows:

• Supporting tomorrow’s leaders – “It is essential for us to present a vibrant vision of the future, so that students and young professionals are driven to pursue this career path. So many more opportunities are available for these ‘rising risk professionals’ than there were when I got my start.”
• Knowledge and expertise – “One of RIMS’ key goals is to develop and deliver risk management through leadership, tools and resource,” Snow said, adding that this is achieved through things such as the annual conference, white papers and industry results.
• Globalization – Noting there are 82 chapters and members in more than 60 countries, she said global colleagues provide much-needed perspective on RIMS’s offerings and “extending the society’s influence around the world benefits every single one of us in this room.”

One key issue that can have an impact on the risk management profession, Snow told attendees, are legislative initiatives. For example, Snow was recently invited, on behalf of RIMS, to testify before the U.S. Senate Committee on Banking, Housing and Urban Affairs regarding the extension of the Terrorism Risk Insurance Act.

“TRIA has enabled our member organizations to obtain affordable coverage for acts of terrorism that wouldn’t otherwise be available,” she said.

Mary Roth, executive director of RIMS, suggested that TRIA’s potential expiration at the end of 2014 could have global impact. “Any international company that has facilities and people here in the United States will be affected,” Roth said.

“Our work on the legislative front is not limited to TRIA. The issues that we tackle impact risk management worldwide,” she said.

Snow’s first RIMS conference more than a decade ago was initially intimidating, but then motivating, she noted in her address. “That very first conference and the years since have taught me a valuable lesson about my chosen profession: you can’t do risk management from behind a desk. You have to be visible – meet people, share ideas and best practices, and work together to enhance your knowledge, your effectiveness and your value,” she emphasized.

Roth added that RIMS is working with J.D. Power to produce a Large Business Commercial Insurance Satisfaction Study that examines risk managers’ experiences with their insurers and brokers. “This new study will measure all aspects of the experience, from purchasing policies to making claims,” she said.

“Understanding the risks we face is critical,” Snow pointed out.