Los Angeles Chapter of Risk and Insurance Management Society

News Items

How to Conduct Better Third-Party Risk Assessments
Today's enterprises operate in a complex digital ecosystem that connects customers, vendors and partners and through which data is shared and transactions are processed. Because much of this is done through outsourcing of systems and services to third parties, many enterprises have dramatically increased the scale and complexity of their risk surface.

Automating Risk Functions for Greater Value Creation
Despite recent volatility, more than 60% of risk executives surveyed in a recent PwC US Pulse Survey were optimistic about the global economy, as well as the state of the pandemic recovery. This optimism could stem from a greater alignment between risk functions and the business. Fifty percent of risk management executives reported interacting more with the C-suite, and 42% said they interact more with the board level. Nearly half of respondents said that risk functions and capabilities are now embedded in the business operations that are driving transformations.

Employee Engagement is Key in COVID-19 Recovery
Businesses and their employees have had to rapidly adjust to the shutdowns and disruptions caused by the COVID-19 pandemic, and their ability to adapt and pivot will continue to be critical as organizations start to recover from the impacts of the crisis.

Building Effective IT Disaster Recovery Plans
No matter how well-managed IT infrastructure is, there is always the risk that a tiny hiccup could ultimately turn into a real emergency. Given the increasing reliance on technology tools and access to business-critical data to continue operations, every business should have an effective IT disaster recovery plan in place to minimize disruption when disaster strikes. Risk professionals must consider and plan for this situation with regular testing and run-throughs to ensure that all team members understand the recovery plan and know their responsibilities.

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President's Message

Jeff Stolle

To All LA RIMS Members and Friends,

It's been over a year since many of us have had to make the biggest adjustment in our professional career - transitioning to figuring out how to work from home, while embracing virtual meetings among many other challenges. This on top of figuring out how to just live life during a global pandemic.

The good news is there appears to be 'light at the end of the tunnel'. Vaccines are available, case rates and hospitalizations are trending down in California, workplaces are reopening, and many of the restrictions we have all endured are ending.

The impact of the pandemic has impacted every organization in one way or another, including our Chapter and the Society, but we are getting closer to getting back to our pre-Covid days. While the Society had to cancel the 2020 Conference they were able to put on virtual conference in 2021 and it looks like the 2022 Conference will be an in-person event in San Francisco (April 10-13, 2022).

Locally, our Chapter has pivoted to hosting many online educational events including a fun, online Holiday Party and Comedy Show. While we miss seeing all of our members and friends in-person, we want to follow all the various guidelines for safe gatherings. With California set to 'fully reopen' on June 15th we hope to have some in-person events starting this summer, but we need to wait and see what guidelines are in place in and what venues are permitted to do.

The good news that we have previously announced is our Annual Golf Tournament is set for October 27 at the Rose Bowl course in Pasadena. Even better news, at the time of this newsletter, all 18 hole sponsorships are taken. Soriano Law Group has also signed on as the official corporate sponsor. The only sponsorship opportunities still available are the hole-in-one holes and the driving range. Contact Amber for more info.

The theme of the tournament will be "Around the World in 18 Holes". Each of our hole sponsors will decorate their hole in a different country. Countries confirmed so far are: Tahiti French Polynesian, United Kingdom, Spain, Mexico, United States, Germany, Cuba, Ireland, France, Italy, Japan, Greece, Australia, and Jamaica. This event is sure to be a great time and will sell out, so get your foursomes registered soon.

While not officially on the calendar yet, we are also looking to book a Holiday Party, a summer event and potentially some in-person educational functions. We are also looking at the options around our postponed, inaugural Summer Cruise. Please note that Zoom fatigue has set in so we are currently leaving the online webinars to others…


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