UAE: Dubai Road & Transit Authority receives honourable mention for ERM from RIMS
Source: Middle East Insurance Review | Dec 2019
The Dubai Road and Transit Authority (RTA) has received an honourable mention at this year’s Global ERM Award of Distinction at RIMS’s ERM Conference held in November in New Orleans.
In a statement, RIMS said the RTA’s programme is awarded for using ERM as a performance enabler which has proven highly effective in reducing emergencies and crisis events that affect Dubai’s transportation infrastructure.
San Francisco-based resource recovery company Recology was presented the RIMS 2019 Global Enterprise Risk Management Award of Distinction. Recology successfully implemented a unique ERM programme in just over a year, while demonstrating value creation related to an acquisition.
Recology leadership’s commitment and risk committee guidance provided a foundation for the ERM team to develop a training programme for employees, establish a common risk database and deploy several other initiatives to build risk awareness into the culture.
Also receiving honourable mention were the Regional Municipality of York and ON Semiconductor. The Municipality of York is recognised for its ERM playbook, leveraging ERM in cyber and climate analytics, and instilling a strong culture of risk awareness. ON Semiconductor’s ERM programme is acknowledged for its disciplined application of risk appetite parameters, and integration of emerging and interactive risk workshops.
RIMS CEO Mary Roth said, “Organisations increasingly are customising ERM programmes to address unique needs and build risk strategies and competencies that align with long-term goals.”
The judging criteria for the Global ERM Award of Distinction include measurable, tangible and sustainable results; unique programme strengths; ERM innovation that links risk with strategy or performance; and the programme’s ability to build sustaining risk management capabilities. M