Live From RIMS ERM Conference 2023

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews several notable attendees of the RIMS ERM Conference 2023 in Denver, Colorado. First is Fernanda Gutierrez Franco, a student at the University of Colorado. Fernanda speaks of the risk management program at the university. Next are two high-ranking AFERM members, Marianne Roth, and Bobbi-Jo Pankaj, who describe the similarities between AFERM and RIMS. They also speak of the Summit, AFERM’s Conference. Finally, Justin catches up with Dr. Innocent Uzombah, MBA, the Registrar General/CEO of the Chartered Institute of Loan & Risk Management of Nigeria. Dr. Uzombah hopes to bring the risk management body of knowledge in Nigeria to current standards. Justin wraps the episode with some of the benefits of attending the RIMS ERM Conference.   Key Takeaways: [:01] About RIMScast. [:28] The segments of today’s episode were recorded live at the RIMS ERM Conference 2023 in Denver, Colorado. Live event episodes are Justin’s favorites. They capture the energy of RIMS events! [:43] Justin sends a quick shout-out to the RIMS New Zealand Pacific Island Chapter and Marsh Australia and New Zealand, who welcome you to Embrace The Unknown: Unleashing the Power of Risk, a one-day event on February 12, 2024 at the Pullman Hotel in Auckland, NZ. [1:07] It will be a gathering of experts, thought leaders, and professionals from various industries to explore and discuss the critical role of risk management in today’s dynamic and uncertain world. There will be sessions on AI, Resilience, and Adaptability, highlighted by case studies and insights. See the link in this episode’s show notes.  [1:28] Next week on RIMScast, one of the speakers will be joining us! Be sure to tune in. [1:34] It’s never too early to talk about RISKWORLD 2024! Save the date, May 5th–8th, 2024 in sunny San Diego, California. Booth and sponsorship sales are open. Member registration opens this month, November 2023 and public registration opens in December 2023. Visit RIMS.org/RISKWORLD to learn all about it. [2:09] We have a range of perspectives on today’s episode of RIMScast. Our first perspective comes from a soon-to-be rising star in the risk profession, Fernanda Gutierrez Franco, a student at the University of Colorado. She is very involved in the risk management program and risk management groups at the school. [2:32] Fernanda was one of the contestants for ERM Squares. Justin caught up with Fernanda in the ballroom to hear from her how students are seeing the risk profession and what her career goals are. [2:48] Fernanda Gutierrez Franco, welcome to RIMScast! Fernanda started college with a biology major for pre-med or nursing. It wasn’t a fit, so she switched to business, hoping to go into management or accounting in the health sector. In one of her classes, guest speakers talked about the RMI program. She booked a meeting and switched her major. [4:06] Fernanda loves risk management for the opportunities for students and how welcoming everyone is in the industry. Fernanda describes opportunities at CU Denver and RMI events such as spotlights on companies and shadow days to visit companies and shadow the employees. Fernanda describes Gamma Iota Sigma internship events. [4:59] Many speakers come to talk to classes in panelist events or to talk about risk control and company practices. [5:19] Fernanda loves ERM for everyone coming together to realize that there has to be something done;  there has to be a risk assessment or something laid out. It’s educating people that aren’t in the risk industry that risk is always here and it’s better to be prepared than to be sorry later. [5:44] Fernanda will take a course under David Young in her grad program. [6:05] Fernanda is the Women in Business VP,  the Gamma Iota Sigma VP. She is more involved with the Gamma Iota Sigma group that meets Tuesday morning, weekly and hosts two to three events monthly. They have nine elected officials and are working on getting more members involved in the organization. [6:49] Fernanda was a moderator at the RIMS Western Regional. It was her first time moderating at a risk event and her first time in front of a huge crowd. It scared her a bit to be standing in front of 400 people, but it was a great opportunity, she got a lot of exposure and the session was fun and informative. [7:49] Fernanda has had other speaking opportunities, including high school commencement, for around 150 people. [8:12] Fernanda was one of the first two contestants for the RIMS ERM Squares. She had to agree or disagree with answers from nine seasoned risk professionals on stage. [9:18] Justin congratulates Fernanda and thanks her for being on RIMScast. [9:23]  RIMS plug time! Upcoming Virtual Workshops: Visit RIMS.org/virtualworkshops to see the full calendar. December 7th starts the three-part course, Leveraging Data and Analytics for Continuous Risk Management, which will be led by our friend Pat Saporito. [9:44] Fundamentals of Insurance returns on December 12th and 13th. It will be led by our good friend Gail Kyomura. Information about these sessions and others is on the RIMS Virtual Workshops page. Check it out and register! [10:01] On November 16th, Nationwide returns to present U.S. Customs Surety Bonds: A Primer for Risk Professionals. On November 21st, Beazley returns to present Business Risk: Helping Your Executives to Navigate Today’s Volatile Risk Environment. [10:25] On December 1st at 7:00 a.m. Eastern, Prudent Insurance Brokers Private Ltd. returns to discuss Business Interruption. At 2:00 p.m. Eastern, on December 1st, the RIMS PUBLIC POLICY COMMITTEE PRESENTS: Understanding Nevada’s “Defense Within the Limits” Ban. [10:47]  On December 7, 2023, our friends at TÜV SÜD GRC return to discuss Engineering Resilience: Strategies for Preventing Machinery Breakdown. On December 12th, Prepare Yourself for the New Generation of Risk with Riskonnect. On December 14th, Aon will be Addressing Today’s Risks While Preparing for the Risks of Tomorrow. [11:08] Visit RIMS.org/Webinars to learn more about these webinars and to register! Links are in the show notes. Webinar registration is complimentary for RIMS members. [11:28] The next guests are Bobbi-Jo Pankaj, 2023 Summit Committee Chair, with AFERM, the Association for Federal Enterprise Risk Management, and Marianne Roth, AFERM President. AFERM was at the ERM Conference. [11:53] RIMS looks forward to collaborating with them for the 2023 AFERM Summit Training on November 28th and 29th at the Walter E. Washington Convention Center in Washington, D.C. The link is in this episode’s show notes. Bobbi-Jo Pankaj and Marianne Roth, welcome to RIMScast! [12:18] Justin interviews high-ranking AFERM members, Marianne Roth, and Bobbi-Jo Pankaj, at the RIMS ERM Conference 2023. Marianne says AFERM is the only organization dedicated to government employees who are leaders in ERM. AFERM has about 500 members from state, local, and federal government and the private sector. [13:07] The members of AFERM facilitate ERM at all levels of government and in the nonprofit sector. Bobbi-Jo says she has a deep love for ERM. AFERM is the Association of Federal Risk Management. AFERM has a lot of activities for state, federal, and local governments and vendors. Bobbi-Jo is a vendor. She works for Guidehouse. [13:32] Bobbi-Jo is the Summit Chair for 2023. The Summit is very similar to the RIMS ERM Conference. The Summit focuses on weaving ERM into the fabric of government. There are usually 300 or 400 attendees in person and virtually. The Summit is November 28th and 29th. [13:53] AFERM is heavily tied to the federal government, so if the government shuts down, the event will be moved to a later date. It will still be in Washington, D.C. at the Washington D.C. Convention Center. RIMS is slated to have a presence at the Summit. [14:22] At the Summit, there’s an exciting vibe; everybody loves ERM. There are speakers from the public and private sectors. There are 21 unique break-out sessions. There are five plenary speakers, including the Commissioner of the Internal Revenue Service. There’s a lot of networking. Which is one of the best takeaways from the event. [14:46] There are tools and techniques that members have found successful in the government and the private sector. RIMS will have a booth at AFERM. Bobbi-Jo is excited to get potential new AFERM members from RIMS. A lot of AFERM members have the RIMS CRMP certification and the RIMS CRMP-FED microcertification. [15:20] Marianne and Justin met online a few years ago after Marianne won the Theodore Roosevelt Excellence in Government Award for Innovation in ERM at the Consumer Financial Protection Bureau. Justin saw it on LinkedIn and reached out to Marianne. They did a Q&A. It is linked in this episode’s show notes. [15:54] Marianne has been an ERM risk practitioner for almost 10 years. Bobbi-Jo was in risk management first and has also been an ERM risk practitioner for about 10 years, since ERM took off in the federal government. [16:07] Marianne has seen a lot of maturation of ERM capabilities across federal agencies with organizations focusing on risk appetite and maturing their processes, mitigating risks more effectively. Bobbi-Jo agrees and notes that a lot of AFERM members use the RIMS Risk Maturity Model® to track the maturation of programs. [16:44] AFERM is an all-volunteer organization. They seek volunteers year-round. Marianne enjoyed the Summit so much, she got involved with AFERM. Bobbi-Jo has been doing the Summit for seven years and took on the Chair position because it is an amazing event. Justin looks forward to seeing them at future RIMS events. [17:22] Justin’s final guest for this episode is Dr. Innocent Uzombah, MBA, the Registrar General/CEO of the Chartered Institute of Loan & Risk Management of Nigeria. He came from Nigeria to attend the RIMS ERM Conference in Denver and has also been to several more RIMS events. Justin invited him to RIMScast to share his unique perspective. [18:09] Dr. Innocent Uzombah, welcome to RIMScast! Dr. Uzombah is happy to be here. Dr. Innocent Uzombah has been a risk management practitioner for 13 years. Dr. Uzombah explains what drew him to risk management. He came to the RIMS ERM Conference to improve the body of knowledge in risk management practice in Nigeria. [19:56] The Chartered Institute of Loan & Risk Management of Nigeria shares ideas and information with offices in Ghana, Cameroon, Kenya, and some other African countries. [20:22] Dr. Innocent Uzombah says the session on Resilience was very good. He enjoyed other sessions, too. He will bring this information to Nigeria to teach others. He says risk management is a void in Africa. His advice to people in Nigeria interested in risk management is to get the right knowledge and education to fill the void. [21:57] Dr. Innocent Uzombah has attended the RIMS ERM conference starting with the 2019 conference in Louisiana. He will continue to attend so the body of risk knowledge will improve in Africa. Justin is glad Dr. Innocent Uzombah is getting so much from the RIMS conferences and looks forward to seeing him again. Dr. Uzombah thanks Justin. [23:23] Special thanks to all of my guests for joining us and to all the attendees of the RIMS ERM Conference 2023. We had a blast, from the sponsors to the attendees and presenters, everyone left with some great new insight, a wider network, and fun memories! Announcements about next year’s ERM Conference will be made in 2024. [23:41] There is a special ERM edition of RIMS Risk Management Magazine that is also publicly accessible via the show notes. Check it out. You’ll see articles and RIMScast interviews featuring familiar names and faces from the conference. [23:55] Go to the App Store and download the RIMS App. This is a special members-only benefit. Everybody loves the RIMS App! [24:19] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate! Contact pd@rims.org for more information. [25:02] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. The RIMS app is available only for RIMS members! You can find it in the App Store. [25:26] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [25:42] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com and in print, and check out the blog at RiskManagementMonitor.com. Justin Smulison is Business Content Manager at RIMS. You can email Justin at Content@RIMS.org. [26:04] Thank you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!   Mentioned in this Episode: RIMS Risk Management Magazine: ERM Special Edition 2023 2023 AFERM Summit Training | Nov 28–29, 2023 Riskworld 2024 — San Diego, CA | May 5–8, 2024 Embrace The Unknown: Unleashing the Power of Risk | Hosted Live & In-Person by RIMS NZ & PI | Feb. 12, 2024 Dan Kugler Risk Manager on Campus Grant RIMS-Certified Risk Management Professional (RIMS-CRMP) NEW FOR MEMBERS! RIMS Mobile App ERM Q&A with Marianne Roth: ERM at the Consumer Financial Protection Bureau (2020) RIMS Webinars: An Introduction to U. S. Custom Surety Bonds | Sponsored by Nationwide | Nov. 16, 2023 Business Risk: Helping your Executives Navigate Today’s Volatile Risk Environment | Sponsored by Beazley | Nov. 21, 2023 Business Interruption | Sponsored by Prudent Insurance Brokers Ltd. | Dec. 1, 2023 RIMS PUBLIC POLICY COMMITTEE PRESENTS: Understanding Nevada’s “Defense Within the Limits” Ban | Dec. 1, 2023 Engineering Resilience: Strategies for Preventing Machinery Breakdown | Sponsored by TÜV SÜD | Dec. 7, 2023 Prepare Yourself for the New Generation of Risk | Sponsored by Riskonnect | Dec. 12, 2023 Addressing Today’s Risks While Preparing for Tomorrow | Sponsored by Aon | Dec. 14, 2023 RIMS.org/Webinars Upcoming Virtual Workshops: Leveraging Data and Analytics for Continuous Risk Management | Dec 7 Fundamentals of Insurance | Dec 12 See the full calendar of RIMS Virtual Workshops All RIMS-CRMP Prep Workshops — Including Chris Mandel’s Dec 13–14 Course Related RIMScast Episodes: “All Roads Lead to ERM with Merline Barrington of the Port Authority of NY & NJ” “Harnessing Innovation’s Promise with ERM Conference Keynote Bob Roitblat” “ERM’s Value Proposition with Chris Mandel” “ERM in Banking & Finance with Eleni Willis” “Emerging Risks and Board Reporting with Suzanne Christensen” Sponsored RIMScast Episodes: “Cyclone Season: Proactive Preparation for Loss Minimization” | Sponsored by Prudent Insurance Brokers Ltd. (New!) “Subrogation and the Competitive Advantage” | Sponsored by Fleet Response “Cyberrisk Outlook 2023” | Sponsored by Alliant “Chemical Industry: How To Succeed Amid Emerging Risks and a Challenging Market” | Sponsored by TÜV SÜD “Insuring the Future of the Environment” | Sponsored by AXA XL “Insights into the Gig Economy and its Contractors” | Sponsored by Zurich “The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster “Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz “Analytics in Action” | Sponsored by Alliant “Captive Market Outlook and Industry Insights” | Sponsored by AXA XL “Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd. “Zurich’s Construction Sustainability Outlook for 2023” “Aon’s 2022 Atlantic Hurricane Season Overview” “ESG Through the Risk Lens” | Sponsored by Riskonnect “A Look at the Cyber Insurance Market” | Sponsored by AXA XL   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars Risk Management Magazine Risk Management Monitor RIMS-Certified Risk Management Professional (RIMS-CRMP) RIMS-CRMP Stories — New interview featuring Chris Mandel! Spencer Educational Foundation RIMS DEI Council   RIMS Events, Education, and Services: RIMS Risk Maturity Model® RIMS Events App Apple | Google Play RIMS Buyers Guide Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org and listen on Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests Fernanda Gutierrez Franco Vice President | Gamma Iota Sigma-Beta Mu Vice President | Women in Business Student Assistant | Environmental Health and Safety Attends: University of Colorado Denver   Marianne Roth, AFERM President Bobbi-Jo Pankaj, 2023 Summit Committee Chair  Aferm.org   Dr. Innocent Uzombah, MBA — Registrar General/CEO, Chartered Institute of Loan & Risk Management of Nigeria   Tweetables (Edited For Social Media Use): ERM is everyone coming together to realize that there has to be a risk assessment or something laid out. It’s educating the people who aren’t a part of the risk industry that risk is always here and it’s better to be prepared than to be sorry later. — Fernanda Gutierrez Franco   I have a deep love for ERM. AFERM is the Association of Federal Risk Management. We have a lot of activities for federal, state, and local government, as well as vendors. I’m a vendor. — Bobbi-Jo Pankaj   At the Summit, everybody loves ERM. We have public and private sector speakers. We have 21 unique break-out sessions. We have five plenary speakers, including the Commissioner of the Internal Revenue Service. There’s a lot of networking. — Marianne Roth   We share ideas between countries and try to improve the body of knowledge in the risk management practice in Africa. — Dr. Innocent Uzombah, MBA