Global insurance broker Willis Towers Watson (WTW) has entered a three-year collaboration with RIMS, the risk management society, to improve risk management practices in Asia-Pacific (APAC).
Founded in 1950, RIMS (Society) is a global professional association committed to advancing risk management practices by offering network, professional development, certification, and education opportunities to risk management professionals.
The agreement between WTW and RIMS aims to promote the development of risk professionals in Asia-Pacific and equip them to succeed in an evolving and challenging landscape. Kicking off the partnership is the launch of the inaugural WTW-RIMS Asia-Pacific Risk Conference 2022, which will be held virtually from April 26 to 28.
Themed “Risk Resilience Reimagined,” the conference will bring together risk management professionals, business strategists, government officials, and executives responsible for managing organisations' risk portfolios across APAC. In addition, it will offer innovative and bold insights and ideas that are achievable for business leaders and risk professionals, so they can augment their capabilities to build robust risk management – helping their business thrive in the region.
Simon Weaver, head of corporate risk & broking, Asia and Australasia, and head of Australasia at WTW, said business leaders and risk managers need to remain vigilant, rethink their approach, and raise their game in responding to threats and opportunities while maintaining core business operations.
“As the coronavirus becomes endemic, a broad set of societal risks have become ever-present in business decision-making for all organisations today. High-impact risks such as climate, geopolitics, health, financial, supply chain, technology/cyber, and human capital are likely to continue to increase in frequency and with simultaneous occurrence,” Weaver said.
“It is important for organisations in APAC to adopt a culture of adaptability and be ready to act decisively when these events happen, minimising disruptions to their businesses as risk becomes a mainstream element of business decisions.”
RIMS president Patrick Sterling added: “Organisations around the world have witnessed the undeniable value of strong risk management capabilities and will continue to lean on their risk teams to set strategies, support initiatives, and drive innovation. As expectations rise, it's critical for risk professionals to build upon their skills and knowledge to effectively establish resilient corporate cultures.”