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The COVID-19 pandemic tested the skills of many risk managers, but having helped their organizations navigate the crisis, risk managers should strive to extend their reach, the Risk & Insurance Management Society Inc.’s 2021 president said.
“It seems as though every risk that the risk management community has ever prepared for came to fruition in 2020,” said Ellen Dunkin, who is also senior vice president, general counsel and chief risk officer for Amalgamated Life Insurance Co. in White Plains, New York. Ms. Dunkin began her one-year presidency of RIMS in January.
She was speaking during the opening session of RIMS’ annual conference, which is being held virtually this week and next.
During the pandemic, risk professionals provided insight and direction to help their organizations adapt and remain resilient, Ms. Dunkin said.
Going forward, risk managers should continue to make their voices heard, she said.
“As individuals and as a community, let’s be strategic advisers and key contributors who enable growth and innovation. We must be indispensable,” Ms. Dunkin said.
To be successful, risk management must be represented in the board room and a new initiative, RIMS – Path to the Boardroom, explores strategies to help risk managers become members of boards, she said.
“We’ll examine the skills and competencies needed for board service and what to expect along this professional journey,” Ms. Dunkin said.
The RIMS conference has sessions related to the initiative, and RIMS plans to add other related webinars and podcasts, she said.
In addition, RIMS plans other programs and initiatives to help risk managers, including revamping the RIMS Risk Maturity Model, said Mary Roth, CEO of RIMS. 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, she said.
More insurance and risk management news on the coronavirus crisis here.
Former Groupon Inc. risk manager Liz Walker joined brokerage Marsh LLC on Monday as strategic claims and client engagement leader.