NEW YORK (November 12, 2021) – RIMS President Ellen Dunkin presented the Internal Revenue Service (IRS) with the 2021 Global Enterprise Risk Management Award of Distinction at the Society’s ERM Conference in New York City. Jointly submitted by the government entity’s Chief Risk Officer Thomas Brandt and ERM Director Melissa Reynard, the honor recognizes the team’s outstanding achievements that allows the IRS to anticipate emerging risks and establish the appropriate culture, processes and structures to strengthen strategic decision-making.
Navigating the impacts of an extended government shutdown, sweeping tax reforms, operational disruption due to the COVID-19 pandemic and providing essential financial relief to thousands of businesses and individuals across the US, the IRS ERM Program helped the government agency to remain resilient and effectively manage a multitude of dynamic challenges. The program has successfully embedded a culture that values risk management, highlighted its ability to facilitate the timely flow of risk information across the organization and integrated risk consideration and assessment into business decision-making.
“Through the ERM Program’s focus on embedding risk management capabilities into the existing structures and operations, the agency has become more risk aware,” according to Jeffrey Tribiano, the IRS’s Deputy Commissioner for Operations Support. “There is also greater collaboration across the enterprise to address significant risks that require efforts from multiple business units. By effectively highlighting the enterprise-wide effects of risks, and by capturing risks on the Enterprise Risk Profile, ERM has helped garner agency-wide attention and support for measures to help address the risks. Since IRS established its ERM program in 2014, it has played a critical role in helping the agency to better understand and respond to risk, thus making the organization more resilient and better able to serve the American people.”
This year, RIMS honored three other organizations for their exceptional accomplishments developing, implementing and maturing ERM within their organizations. Honorees included:
- 2021 RIMS Global ERM Award of Distinction Honorable Mention
Dallas Fort Worth International Airport
- 2021 RIMS ERM Award of Distinction – U.S. Honoree
Eversource Energy
- 2021 RIMS ERM Award of Distinction – International Honoree
EuroChem
“Enterprise risk management continues to deliver exceptional value to organizations, allowing them to successfully address emerging risks while also identifying and leveraging opportunities that might not have otherwise been apparent,” said Ellen Dunkin. “Risk professionals get better – and deliver better results – by learning from each other. We are so grateful to the IRS and all of honorees for sharing their ERM journeys with the RIMS community and doing their part to advance this rewarding profession.”
Judging criteria for the Global ERM Award of Distinction includes measurable, tangible and sustainable results; unique program strengths; ERM innovation that links risk with strategy or performance; and the program’s ability to build sustaining risk management capabilities. The panel comprises members of RIMS Strategic and Enterprise Risk Management Council.
To access Society’s thought-leading enterprise risk management knowledge, resources and research, visit RIMS Strategic and Enterprise Risk Center and RIMS Risk Knowledge library.
RIMS ERM Conference 2021 was held November 11 – 12 in New York City and virtually. The program themed “ERM in an ESG World” focused on the growing risks stemming from environmental, social and governance challenges. The conference featured a stellar lineup of risk thought-leaders who shared their experiences applying ERM practices to address a new wave of ESG concerns. The keynote presentation by Lloyd’s Chairman Bruce Carnegie-Brown and sessions from the RIMS ERM Conference will be available on-demand. Visit www.RIMS.org for updates.
About RIMS
RIMS, the risk management society®, is a global not-for-profit committed to advancing the practice of risk management throughout the world. We bring networking, professional development, certification, and education opportunities to our membership of 10,000 risk management professionals in over 60 countries. Founded in 1950, the Society represents more than 3,500 industrial, service, nonprofit, charitable, and government entities throughout the world. To access RIMS Risk Knowledge resource library and for additional information about the Society, visit www.RIMS.org.
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