Follow Us on Google
•Renew call to establish Office of Risk Mgt
By Henry Uche
A frontline risk management body, Risk Managers Society of Nigeria (RIMSON), has charged federal and state government agencies and parastatals to embrace the integration of risk management in their governance processes to reduce waste of resources and achieve governance objectives as supposed.
In its first quarter Risk Management Digest, the President/Chairman of Governing Body, Mr. Gus Wiggle, assured that RIMSON is committed to the enthronement of global peace through the risk management prism.
According to him, RIMSON remains committed to advancing the ideals of social harmony by encouraging persons in positions of responsibility to ensure that their decision-making processes are properly guided by risk management ideals, ensuring that they exercise restraint in their conducts.
With the theme of the 2024 edition: “Exploring Risk Management Tools for Effective and Sustainable Governance”, Wiggle affirmed that risk management awareness and appropriate risk responses would remain in the heart of good corporate governance and enterprise risk management (ERM).
“These are key to building institutional resilience as well as tackling and finding lasting solutions to the perennial distractions and aberrations which for decades, have remained inimical to socio- economic advancement, sovereign wealth creation and overall national growth and development. As a means of entrenching the risk management culture in the fabric of governance in Nigeria, RIMSON has been canvassing the establishment of the Office of Risk Management (ORM) at both federal and state government level.”
Wiggle avowed that the society’ll continue to promote risk management education and advocacy, geared towards promoting risk management culture across all facets of human endeavours, saying “As risk management professionals, we have been consistent in championing risk management research, development and continued education.
“Our professional members, in their respective fields of endeavour would continue to deploy their skills and expertise in the application of risk management methodologies and principles in furthering the empirical benefits of proper risk management in the growth and development of our country, Nigeria,” he said.
The risk management expert who is equally an insurance guru lamented that dearth of proper consequence management may have been responsible for so much impunity in governance, a negation of the principle of reward and punishment as direct correlates to performance by public officials.
“The invaluable benefits of the application of the scientific methodologies of risk management in mitigating against the debilitating effects of misgovernance cannot be overemphasized. The world will be a better place by mitigating the prevalence of global conflicts and the miseries they are often associated with such as refugee complications, hunger, disease, disruption of education and the dislocation of families.”
He added that Risk Management and its revolutionary methodologies have been as the most viable options for addressing and tackling the global VUCA realities, noting that threats to global peace have become more rampant, dominating global and regional discourse which focus on avoidable conflicts, hostilities and rising misery index in the affected countries around the world.
“Unarguably, at the centre of these crises, are glaring instances of misgovernance, (or what some analysts refer to as governance misadventures). Other threats to global peace include: religious extremism, terrorism, economic stagnation, systemic corruption, poverty and growing dissent. All finds expression in avoidable social distrust, uprisings, condemnable civil disobedience and war.
“We look forward to seeing more ‘converts’ who will adopt risk management as a way of life. we remain avowed to sustaining our risk management advocacy by encouraging more risk management research and scholarship which have continued to enrich and add value to the global risk management space. It is our fervent hope that everyone across all divides and spectra of existence, will come to terms with the developmental strides of risk management,” he averred.
