2019 is set to be a ‘year of risk activism’

Call for members to ensure risk management is used as a tool to bring about positive change, writes Alf James

The Institute of Risk Management SA’s (Irmsa) theme for the 2018 Irmsa Awards was The World’s Greatest Risk Management

Awards Show, which reflected how risk management has achieved and been acknowledged as a leading management tool through difficult times.

Phumlani Dyini, group head: enterprise risk management and compliance at Woolworths Holdings Limited, was named Risk Manager of the Year at the event that took place on November 9 in Midrand with about 400 guests attending from SA’s risk community.

National Treasury, which has built a strong relationship with Irmsa by working together on many projects, won the Risk Influencer of the Year award.

Gillian le Cordeur, Irmsa CEO, says the status of risk management in SA has been elevated as the result of Treasury’s collaboration with Irmsa on various initiatives.

“Treasury has worked in partnership with Irmsa for the past few years on a variety of projects, from the development of our qualifications to our mentorship programme this year. Furthermore, Treasury is committed to growing the risk management function within the public sector.”

Le Cordeur says the concept for the Irmsa Awards, for which AIG was the main sponsor, was based on the The Greatest

Showman film that promotes inclusion and has a strong theme of the importance of following your dreams, because no dream is impossible.

“We used the theme from the movie as it highlighted the importance of being brave and courageous, because that is what we need our risk managers to be.”

She says the awards’ theme was also connected to Irmsa’s theme for 2018 — Big Thinkers

— because the institute believes the risk management industry requires its risk professionals to think transfomatively aspirationally, fearlessly, ethically, positively and act accordingly as agents of change.

“The theme also talks to the need for big thinkers in the rest of the business sector and country to come to the party as well, not only in terms of applying the principles of risk management, but encouraging and influencing the risk management function to be leading the objectives, strategies, policies and process of all organisations across all sectors of the economy, both in the private and public sectors.

“Our 2018 theme flowed into Irmsa’s annual conference, which had the theme of Big Thinkers connecting the dots, which connected into public enterprises minister Pravin Gordhan’s call on South Africans to connect the dots and see who is benefiting from state capture and where the money is going.

“Our Big Thinkers theme has emphasised that it is up to us to make the decisions today that will determine what the next 15 years will look like in our organisations, society, communities and country.

“We have to decide whether we are passengers or leaders, whether we make the decisions that matter or allow someone else to decide our fate for us.

“Our 2019 theme, which is #Impact: A Year of Risk Activism, also extends from the big thinkers concept and also relates to what Gordhan said at our conference when he challenged us as risk professionals to go beyond what we do and be the difference we hope for by impacting on other organisations and broader society, and not leaving it up to other people.

“We are asking our risk professionals, members and leaders of associated organisations to join us as activists and ensure that risk management is used as a tool to bring about positive change in the country, because if we apply risk management principles from the top and spread them throughout the organisation we will be on the right track.”

Le Cordeur says that in the past year Irmsa has received many opportunities and invitations to work with boards and executives, because more and more businesses are seeing that risk management is not only a line of defence, but is at the heart of proactive business practices that are sustainable and driven by a principles focused approach to leadership and good governance.

“There is a recognition among many organisations’ leadership that risk management is something that has to be conducted professionally throughout the organisation, from strategic development at board level to financial management and operational processes.

“There is a whole transition happening in risk management whereby risk professionals are becoming leaders in their respective industries, which is reflected by our 2019 theme.

“We are asking risk professionals to develop skills such as improved presenting, communication and reporting abilities,” says Le Cordeur.

She says the purpose of the awards programme is to highlight the achievements of risk professionals and acknowledge, encourage and celebrate excellence within the risk management sector.

“The event recognises and rewards SA’s top risk management professionals who have made a significant contribution and applied the best risk management initiatives within different industries. Irmsa evaluates the award nomination process to ensure nominations, finalists and, ultimately, winners, are of the highest quality.

IT IS UP TO US TO MAKE THE DECISIONS TODAY THAT WILL DETERMINE WHAT THE NEXT 15 YEARS WILL LOOK LIKE IN OUR ORGANISATIONS