Risk management professionals under the aegis of Risk Managers Society of Nigeria (RIMSON) rosefrom its 2020 National Risk Management Conference with a list of resolutions geared at harnessing both individual and collective strategies for tackling emerging risk management challenges.
The conference held recently in Lagos, witnessed robust deliberations and presentations by experts focusing on various challenges including the unique risk management challenges foisted on the world by the coronavirus pandemic, looking at the pains, the gains and the losses occasioned by the pandemic.
Also, the huge risk reawakening for individuals and businesses, leading to the emergence of new and novel manifestations of risk management expectations across the diverse spheres of human endeavours.
A severe social and economic global impact of COVID-19, foremost among which is the health crisis, significant financial distress for businesses and palpable frustration of existential imperatives. The emergence of new risk frontiers, engendering a world faced with both uncertainty and rapid change which has seen businesses experiencing rising risk levels ditto for customers, shareholders, governments, and society at large.
Others include rising risk exposures, business disruption and beckoning business continuity planning and real time risk mitigation and ever increasing use and reliance on technology, data, data analytics and regulations; new and compelling ways of doing things including remote working, virtual meetings, and less physical interactions all of which come with new risk implications/exposures; among others identified.
In his opening address, President of RIMSON, Raymond Akalonu, charged members to maximise the opportunities offered by the Society, especially the vast training/retraining and knowledge-sharing opportunities for the sharpening of their skills and expertise in the technicalities of risk management across their diverse practices.
Akalonu who also spoke about the milestones recorded by RIMSON as part of the body’s 35-year trajectory, noted that in the ensuing years, it has listed new targets for itself, including the plan to acquire property in Lagos and A buja for the Society’s permanent secretariats, a drive to boost the Society’s membership across the major cadres as well as the propagation of risk management education beyond the shores of Nigeria, especially the West African Sub-Region by deploying its subsidiary, the Centre for Risk Management Development (CRMD) which is approved by the Federal Ministry of Education, amongst others.
The event also witnessed the induction of eight new fellows, a total of 26 others were inducted as associates of the society, while one person was admitted as a member.