RMIA outsources operations to ANZIIF to focus on growth

The Risk Management Institution of Australasia (RMIA) has agreed a strategic business services agreement with the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to manage its operational and administrative functions.

The RMIA will continue to operate as a separate association and seek to promote the profession in Australasia and the wider Asia Pacific region, not least through its annual conference.

But, the RMIA believes that the transfer of its operational and administrative functions will help it provide a better service to existing members and enable its board to focus on the bigger picture.

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The RMIA said that it will reap benefits of scale and operational efficiencies offered by ANZIIF that include access to education and event management resources, a dedicated customer service department, membership support functions and marketing and promotional support for the risk management profession.

Brian Roylett, President of the RMIA and Chairman of the Board, said the agreement was an ‘important move’ towards growth and the future development of professional risk managers throughout Australasia.

“This service agreement will enable us to take advantage of ANZIIF’s experience and capacity to better meet the needs of RMIA members, while at the same time expanding our risk management capabilities and professionalism into new markets internationally where Australia, through its leadership in the development of risk management standards, is already recognised as a world leader,” he said.

Joan Fitzpatrick, CEO of ANZIIF, said: “At ANZIIF we not only have extensive experience managing a growing membership body of 14,000 members across 34 countries, we have also invested in advanced infrastructure systems which allow us to provide the highest level of member support, education and professional development opportunities. We are very pleased to be able to work closely with RMIA to service its members and improve the standing of risk management professionals in the region,” she said.

RMIA Director, Kevin Knight AM, said: “RMIA has outgrown its status as a burgeoning professional membership association and must take this opportunity to expand its services and reach, and to prepare for further growth and influence in the development of standards and the increasing professionalism of risk management globally,” he said.

The RMIA denied that the decision was forced by financial difficulties, but said that the recent global economic downturn had influenced the decision.

“Like many other similar organisations the global financial crisis and its potential long term impact on membership growth and financial resources did cause the board to review how it could effectively deliver the range of quality services necessary for members to advance their knowledge and skills as well as create a higher profile for the risk management discipline,” it said.

“The board’s review determined that the required investment in staff resources, technology and design and delivery of additional products to support the in-house development of RMIA’s professional development programmes to the level required for competitive growth could not be sustained in the long-term with current financial reserves. The agreement with ANZIIF provides RMIA with immediate access to the latest systems technology and professional development programmes at an affordable price,” it continued.

RMIA said that the board’s decision was unanimous and took effect on January 1. “The RMIA Board will focus on the strategic and policy direction for the risk management profession and RMIA members to ensure long-term strength and growth,” it added.

All existing RMIA staff were offered full time roles within ANZIIF at its Melbourne offices effective immediately, said the association.

ANZIIF described itself as the leading provider of education, training and professional development services to the insurance and financial services industry in Australia, New Zealand and the Asia Pacific region. Some 40% of its 14,000 members are based outside of Australia. All members are required to have industry-recognised qualifications, abide by a Code of Ethics, and maintain their skills and knowledge by completing an annual CPD program equivalent to 25 hours of professional development each year.