Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

The RIMS ERM Conference 2024 in Boston featured a stellar lineup of risk thought leaders who shared their experiences applying ERM practices to align risk management with strategy and showcase the value of more risk-aware corporate cultures. At the Conference, Justin spoke with two leading ERM practitioners in different primary areas to provide a range of perspectives. In this episode of RIMScast, Justin interviews Christopher Stitt about his session, which he based on the RIMS ERM Framework and the RIMS Risk Maturity Model. Justin interviews Catrina Gilbert about her position at the DFW Airport and her career in risk management and ERM, as well as current airport initiatives.

Listen in for a sample of the offerings of the RIMS ERM Conference 2024 with its record-breaking full-capacity attendance.

Key Takeaways:

[:01] About RIMS.

[:14] Member registration for RISKWORLD 2025 is now open! General registration opens on December 4th. Visit RIMS.org/RISKWORLD.

[:25] About this episode. Recorded live in Boston at the RIMS ERM Conference 2024, we have interviews with two fantastic guests!

[:49] The next RIMS-CRMP Exam Prep Virtual Workshop will be held on December 17th and 18th. The next RIMS-CRMP-FED Exam Course will be hosted along with George Mason University from December 3rd through the 5th.

[1:07] Links to these courses can be found on the Certification page of RIMS.org and through this episode’s show notes.

[1:15] RIMS Virtual Workshops! Elise Farnham of Illumine Consulting recently joined us here on RIMScast. On December 4th and 5th, she will host “Applying and Integrating ERM”. On December 17th and 18th, she will host “Captives as an Alternate Risk Financing Technique”.

[1:35] Those are just two of the workshops RIMS offers; we have lots more! Other dates for the Fall and Winter are available on the Virtual Workshops calendar, RIMS.org/virtualworkshops.

[1:51] First Interview! Our first guest was a featured speaker on Day 2 of the RIMS ERM Conference 2024. His name is Christopher Stitt and he is the Founder and CEO of CrisisLead, LLC.

[2:01] Chris’s session was titled “The Art and Science of High-performing Enterprise Risk Management: Bridging Silos for Sustainable Success.” We’ll speak about that session and give a high-level overview for those who could not attend.

[2:18] Chris has a fascinating background that led him to risk management and ERM. His career journey is an inspiration. We recorded live on-site at the Boston Hilton Plaza. Christopher Stitt, welcome to RIMScast!

[2:51] This is Chris’s first ERM Conference. He’s enjoying it and likes getting a broader perspective of how the overall ERM community operates. It’s been a fantastic opportunity to network with some amazing professionals and learn from them!

[3:20] Chris talks about the session he is giving, “The Art and Science of High-performing Enterprise Risk Management: Bridging Silos for Sustainable Success.” It comes down to people. What sometimes gets missed in the ERM process is the human factor.

[3:51] It’s about getting the buy-in necessary and the understanding of what risk is, not just from the senior level but across the board. A new concept, the Risk Intelligence Quotient, can help your organization understand how to look at, feel about, and interact with risk.

[4:26] The Risk Intelligence Quotient, along with the human-centric aspects of the risk program, can help you build a good risk culture and ultimately, a high-performing organization that can thrive during both business-as-usual and disruption.

[5:03] Chris used the RIMS ERM Framework and the RIMS Risk Maturity Model as the foundation of his session. As he studied the RIMS Risk Maturity Model, he saw it was about the journey, from starting a risk program in a new business to developing a mature program.

[5:37] As a business grows and a company matures, you need to be able to go through the process and say, “We need to start documenting how this works. We need to start ingraining this into our business process.”

[6:01] The RIMS Risk Maturity Model gives a great overview of how to ingrain risk management into your business process, especially in a business developing as a hierarchical organization.

[6:41] Chris was a U.S. Department of State Diplomatic Security Service Special Agent for over 25 years managing integrated security risks in embassies around the world. He looked at how international risks would influence U.S. operations in a given country.

[7:17] Chris was also Chief of Emergency Planning for the Department of State twice. That gave him a wide view of how risks develop and how to develop response plans to those risks.

[7:40] About 2014, The Department of State set up an ERM program. Chris was at the initial meeting. Senior officials were using terms he knew but with different meanings. That led Chris to investigate further into the meaning of enterprise risk and how to integrate it.

[8:24] What Chris loves is helping other people understand and build ERM programs. That’s why now, since retiring from the Department of State, Chris has moved into consulting. He sees it as a great opportunity to bridge the silos for a better understanding of what we’re trying to achieve.

[8:51] Chris is excited about presenting his session where he talks not only about the risks but also how you find the opportunities in those risks. It’s about building a powerful ERM program that gets buy-in from stakeholders and imbuing ERM into your organization’s culture.

[9:29] Chris, it’s been a pleasure. Thank you for joining us here on RIMScast.

[9:43] Plug Time! RIMS Webinars! On November 25th, Resolver returns to discuss “The Future of Risk & Compliance: 5 Key Insights for the Modern Leader”.

[9:54] On December 5th, we have “Predictive Strategies to Detect Electrical and Machinery Failures”, presented by Global Risk Consultants, a TÜV SÜD company.

[10:06] On Thursday, December 12th, OneTrust returns to deliver “Staying Vigilant: 7 Practical Tips for Ongoing Third-Party Risk Monitoring”.

[10:16] More webinars will be announced soon and added to the RIMS.org/webinars page. Go there to register. Registration is complimentary for RIMS members.

[10:28] RIMS is now accepting nominations for all awards other than Risk Manager of the Year 2025. The submission deadline is Monday, January 6th, 2025. To receive a RIMS award, all winners must be active members and in good standing.

[10:48] The awards are the Diversity, Equity, and Inclusion Chapter Leadership Award, the Harry and Dorothy Goodell Award, the Volunteer of the Year “Heart of RIMS” Award, the Richard W. Bland Memorial Award, the Chapter of the Year Award, the Rising Risk Professional Award, the Risk Management Hall of Fame, and the Cristy Award.

[11:26] You can find more information about the awards through the About Us page of RIMS.org or the link in this interview’s show notes.

[11:35] Final Interview! Catrina Gilbert is a previous ERM Conference speaker. Catrina is well known in ERM in Texas and the DFW RIMS Chapter. We will talk about how ERM influences aviation and some of the risk awareness campaigns she champions at the DFW Airport.

[11:56] Catrina Gilbert, welcome to RIMScast! Catrina is the Vice President of Risk Management at the DFW Airport and the Treasurer of the RIMS DFW Chapter. Justin and Catrina have known each other for a few years.

[12:30] Catrina is absolutely loving the RIMS ERM Conference 2024. Boston is beautiful this time of year. The speakers, the lineup, the vendors, and the food have been amazing! Every session has been standing-room-only! The Conference is at maximum capacity.

[12:54] It adds to the excitement. It is beautiful to see all these great minds from different industries, states, and countries converging on Boston! Catrina had “chowda” for the first time!

[13:37] Catrina states that there is never a dull moment in aviation. Airports are growing and rebounding from the pandemic, doing all sorts of construction projects. DFW has a $9B Capital I...

Live from the ERM Conference in Boston!