YMCA of Greater Toronto Wins RIMS 2012 Enterprise Risk Management Award Of Distinction
YMCA Risk Program Supports Growth to Serve More Members Sysco Corporation Receives Honorable Mention for Expansive ERM Program
NEW YORK (October 30, 2012) - Enterprise Risk Management (ERM) is a progressive approach to risk management that goes beyond the traditional purchasing of insurance by encouraging all areas of a business to take action to better manage and leverage risk. To celebrate one organization’s resounding success in embracing this concept and generating value as a result, RIMS today presented the 2012 ERM Award of Distinction to the YMCA of Greater Toronto.
The award, presented at RIMS ERM Conference 2012 in San Antonio, recognized the YMCA of Greater Toronto and its sophisticated risk intelligence program. The program’s value was demonstrated through a suite of strategic risk tools and techniques that included a collaborative project risk assessment, aligned with the organization’s mission, vision and strategic plan objectives. Early results produced an average 25% growth in monthly membership sales at one of its Health, Fitness and Recreation centers, with phased replication and reach in other communities.
“Our YMCA risk strategy has evolved through integrative thinking that is generating new perspectives and tools, enabling us to respond successfully to the changing needs of communities we serve,” said Monica Merrifield, Vice President Risk Intelligence, YMCA of Greater Toronto.
Honorable mention for this year’s ERM Award of Distinction went to Sysco Corporation, the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Sysco operates 185 distribution facilities serving more than 400,000 customers. The company successfully implemented an ERM program that ultimately supports the organization’s business transformation from a culture of siloed businesses to a cohesive, interconnected, and better informed network of companies focused on uncovering otherwise untapped opportunities.
According to the 2011 RIMS Benchmark Survey of risk professionals, 80 percent of organizations either have or are in the process of developing an ERM program. Seventeen percent of the respondents stated that their programs are fully integrated and address risk across the organization similar to programs implemented by the YMCA of Greater Toronto and Sysco Corporation. And, perhaps an even greater endorsement for RIMS ERM Conference are results from the RIMS and Marsh’s Excellence in Risk Management IX report that cites the top two responsibilities senior management expect from their risk management department are increased involvement in the organization’s overall business strategic planning efforts and for them to lead enterprise risk management activities.
“Enterprise risk management has become an increasingly important organizational competency that not only protects organizations from detrimental risks but has proven to help identify positive risks that can lead to profitable opportunities,” said Carol Fox, RIMS Director of Strategic and Enterprise Risk Practice. “The YMCA of Greater Toronto and Sysco Corporation are shining examples of how risk management can create value for an organization and their work is truly deserving of this honor.”
Judging criteria for the ERM Award of Distinction includes the scope of the ERM program and how it engages different levels throughout the organization; the programs link or connection to the company’s overall mission; and its ability to create additional value for the organization.
About the YMCA of Greater Toronto
Established in 1853, the YMCA of Greater Toronto is a charity connecting with more than 485,000 people at 400 locations. Serving the population of the Greater Toronto Area, Durham, Peel, York, Halton Regions and Dufferin County, the YMCA works to build strong kids, families and communities. The YMCA offers a variety of programs responding to the needs of the community, including employment and essential skills, education, newcomer programs, youth outreach and intervention, fitness, sports and aquatics, child care and camps. www.ymcagta.org
About Sysco Corporation
Sysco Corporation, the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Sysco operates 185 distribution facilities serving more than 400,000 customers. www.sysco.com
As the preeminent organization dedicated to advancing the practice of risk management, RIMS (the Risk and Insurance Management Society, Inc.) is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS brings networking, professional development and education opportunities to its membership of more than 10,000 risk management professionals who operate in more than 120 countries. For more information on RIMS, visit www.RIMS.org.