Rims president urges risk managers to expand skills

The Covid-19 pandemic tested the skills of many risk managers but having helped their organisations navigate the crisis, they should strive to extend their reach, Rims’ president believes.

Ellen Dunkin, who began her one-year presidency in January, was speaking during the opening session of Rims’ annual conference, which is being held virtually this week and next.

“It seems as though every risk that the risk management community has ever prepared for came to fruition in 2020,” she said.

As first reported in Business Insurance, Ms Dunkin said risk professionals provided insight and direction during the pandemic to help their organisations adapt and remain resilient. Risk managers should continue to make their voices heard going forward, she added.

“As individuals and as a community, let’s be strategic advisers and key contributors who enable growth and innovation. We must be indispensable,” said Ms Dunkin, who is also senior vice-president, general counsel and chief risk officer for Amalgamated Life Insurance Company.

She said risk management must be represented in the boardroom to be successful. A new initiative from the US risk management association, ‘Rims – Path to the Boardroom’, explores strategies to help risk managers become board members, explained Ms Dunkin.

“We’ll examine the skills and competencies needed for board service and what to expect along this professional journey,” she said.

The Rims conference has sessions related to the initiative, and the association plans to add other related webinars and podcasts.

In addition, Rims plans other programmes and initiatives to help risk managers, including revamping its Risk Maturity Model, said CEO Mary Roth. The benchmarking tool was launched more than a decade ago to aid enterprise risk management initiatives.

Rims will also launch an app giving members access to curated content such as reports and research, said Ms Roth.

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