Financial Institutions American Eagle and Sterling Bank & Trust Awarded RIMS ERM Honorable Mentions
NEW YORK (November 3, 2023) – RIMS, the risk management society®, presented Tata Steel Limited with the 2023 ERM Global Award of Distinction at RIMS ERM Conference in Denver. For the second straight year, the 10th largest steel producer in the world was recognized for its continued success implementing an ERM program that is embraced throughout the organization and credited for informing strategic decision making, as well as the successful achievement of business objectives.
Tata Steel Limited’s ERM program is viewed as a business performance and technology enabler, as opposed to a compliance requirement. The program continues to be instrumental in the organization’s ability to effectively and accurately identify and assess risks, develop impactful mitigation strategies, while maintaining trust with external stakeholders and keeping long-term goals attainable.
This year, RIMS recognized two other organizations with Honorable Mentions for developing, implementing and maturing ERM within their organizations. Honorees included:
- American Eagle Financial Credit Union
- Sterling Bank & Trust, FSB
“Enterprise Risk Management takes risk management to the next level,” said RIMS President Jennifer Santiago, RIMS-CRMP, MBA, ARM. “ERM allows organizations to identify both threats and opportunities, improve decision-making and drive better outcomes. Tata Steel, American Eagle and Sterling Bank & Trust have done remarkable work building risk-aware cultures that have paved the way for their business leaders to reach and exceed their goals. Congratulations to Tata Steel for their continued success and, on behalf of the RIMS community, we thank them for sharing their ERM journey with us.”
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.
RIMS ERM Conference 2023 was held November 2 – 3 in Denver. The conference featured a stellar lineup of risk thought-leaders who shared their experiences applying ERM practices to address ESG concerns, technology adoption and innovation, geopolitical risks, as well as offering best practices for aligning risk management with strategy. The conference featured a keynote presentation by innovation coach Bob Roitblat and a lineup of sessions led by other notable risk management leaders. Visit www.RIMS.org for updates.
RIMS, the risk management society®️, empowers risk professionals to make the world safer, more secure, and more sustainable. Through networking, professional development, certification, advocacy, and research, RIMS and its 80 chapters serves more than 200,000 risk practitioners and business leaders from over 75 countries. Founded in 1950, the Society publishes the award-winning Risk Management Magazine and produces RISKWORLD®️, the largest annual gathering of global risk professionals. RIMS embraces diversity, equity and inclusion and welcomes all risk professionals to connect and learn, explore the online Risk Knowledge library, tune into the RIMScast podcast series, and engage via LinkedIn, Twitter, and Facebook. To learn more, visit www.RIMS.org.
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