IRMSA honours top SA risk managers
The Santam Insurance sponsored awards ceremony honours those that promote the discipline of risk management in SA.
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Each year, Santam Insurance sponsors the annual Institute of Risk Management
of South Awards that honours some of the industry's top risk managers, and
this year was no exception.
Last week's event saw the IRMSA award for 'Risk Manager of the Year' to the
General Manager for Risk and Compliance at SBV Services Limited, Chris Ras.
Speaking about Ras' win, as well as the winners in other categories, the Head
of Specialist Services at Santam, Quinten Matthew said: "Santam salutes our 2008
Risk Management Award winners, all of whom have demonstrated outstanding
achievements and have served their shareholders and stakeholders with pride.
Through their innovation, creativity and expertise, they have helped to promote
the discipline of risk management and have made a significant contribution to
the industry and to South Africa."
The City of Johannesburg won the "Best Government Risk Management Initiative"
title, while the award for the "Most Effective Company Risk Management Program"
went to Nedbank Limited.
Matthew spoke about the growing need to strengthen risk management and expand
its services to including financial and reputational risk in a world that was
increasingly reliant on the global economy. He quoted from a recent academic
study which showed that globalization had brought with it the increase of risks
of all kinds, whether through international spats, terrorist activities or
climate changes.
"The study shows that executives are often curiously out of touch or poorly
informed about important indicators of success," said Matthew. "While 86% of
executives, according to the survey, say their company is excellent or good at
tracking financial results - which normally represent lagging indicators of past
performance - only 34% feel the same about their ability to monitor
non-financial factors, which can be leading indicators of sustainability."
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