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ARC: HOW COMPANIES CAN TAKE ADVANTAGE OF STRATEGIC RISK MANAGEMENT TO BOLSTER THEIR BRAND AND COMPET

RIMS guide offers tips on SRM implementation

Publication helps organizations develop framework

RIMS Strategic Risk Management Implementation Guide
RIMS Strategic Risk Management Implementation Guide

The Risk & Insurance Management Society Inc. last week released an implementation guide for organizations looking to start strategic risk management programs.

The publication, “RIMS Strategic Risk Management Implementation Guide,” aims to assist organizations as they design, develop and implement a strategic risk management framework, New York-based RIMS said in a statement.

Developed by members of RIMS' SRM development council, the 68-page guide also offers best practices from global organizations that have successfully adapted SRM into their programs.

“There is no single best way to do strategic risk management,” Carol Fox, director of strategic and enterprise risk practice at RIMS, said in the statement.

“Taking the first step and thinking about risk in a predictive and strategic way will not only protect the value of an organization, it will proactively help create and capture value — all in alignment with its objectives,” she said in the statement.

RIMS said the intended outcome for users of the guide is to boost an organization's risk management capabilities, drive value-based decision-making across the organization and to recast risks to realize opportunities.

The guide, which costs $99 for RIMS members and $199 for nonmembers, is available online at www.RIMS.org/RIMStore.

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