What is the RMM?
The RIMS Risk Maturity Model (RMM) is a best-practice framework for enterprise risk management. Developed as an umbrella framework of the international, cross-industry standards, the RMM allows organizations to measure how well their risk management efforts align with these best practices. As a result, organizations are provided a maturity score and an actionable set of guidelines to improve their programs and gain the many benefits associated with maturity.
About The RMM
2016 Risk Maturity Model Recognition Recipients
Enhancing risk management to be proactive risk taking and cover strategy is still new, and there is no textbook approach for all to use. In the development [of a program], the RMM maturity model is a strong guide as to where to focus your efforts for optimal impact and value.
– Hans Læssøe, Senior Director, Strategic Risk Management at LEGO Systems A/S, 2015 and 2016 RMM Recognition Recipient
After taking the reins of the ERM program at one of the fastest-growing banks in the US, it became clear that I had a unique opportunity to formalize and mature our risk management process, while at the same time making sure the bank remained nimble and business-focused. Maturing our ERM program using the Risk Maturity Model framework has allowed us to punch far above our weight in the white-hot Florida banking industry, yet appropriately mitigate long-tail risks that could imperil the safety and soundness of the company. By leveraging industry-agnostic best practices incorporated into the RMM, C1 Bank has been able to break down the risk silos across the enterprise—all while competing in a highly regulated environment. Successfully implementing this ERM methodology has proven to be a game-changing competitive advantage for us.
What are People Saying About the RMM?
Whether your organization has an existing program or is just beginning to implement enterprise risk management (ERM), take the RMM’s risk maturity assessment and see where improvement is needed!