Russian Risk Management Society
Russian Risk Management Society
Russian Risk Management Society
In early May, a large-scale international risk management event, RiskWorld-2026, was held in Philadelphia. At the invitation of his American colleagues from the Risk Management and Insurance Society (RIMS) and the Secretariat of the International Federation of Risk Management and Insurance Associations (IFRIMA), the President of RusRisk took part in the most significant professional event of the year, a conference and exhibition.
RIMS is considered one of the leading risk management organizations in the world. The Association operates as a bi-national organization and has a regional branch in every state of the United States and every province of Canada. It is worth noting that both the United States and Canada have a well-developed risk management sector, not only in the corporate sector but also at the municipal level.
Moreover, the American approach to risk management is different. The professional certification offered by RIMS positions risk managers as strategic business partners, emphasizing that the role of a risk manager has long gone beyond the function of purchasing insurance. Risk management directors are tasked with identifying, preventing, and planning for all the risks that a company may face.
As for the RiskWorld-2026 conference, it was attended by over 11,000 people from approximately 80 countries. In essence, this is the most significant event in global risk management.
The conference program was, as always, very extensive.
Over the course of three days, the conference featured more than 100 workshops on a wide range of risk management and insurance topics, including both specific aspects of public and business life in North America and global issues.
More general topics covered the risks of geopolitical crises, the global economy, environmental protection, regulatory risks, AI, and cyber threats. With such a diverse range of workshops, it was impossible to attend them all.
The conference also included a meeting of the IFRIMA Board of Directors.
IFRIMA brings together 22 regional and national associations and professional risk management and insurance experts from Europe, America, Asia, Australia, and Africa.
The main goals of IFRIMA include:
IFRIMA works closely with other international professional associations in the ESG agenda, internal audit, and other areas to promote the development of the professional environment and improve risk management practices in various industries worldwide.
Our association has been a member of IFRIMA for about 20 years, and I am a member of the IFRIMA Board of Directors as a representative of RusRisk.
At the Federation’s Board of Directors meeting in May, the Risk Management Association of the Republic of Côte d’Ivoire (RIMRAE) was accepted as a member. Mr. Laurent Nichele (Belgium), the newly appointed Executive Director of FERMA, became the new Vice President for Europe.
New initiatives were also discussed, including the development of a captive project and certification. At the May meeting of the Board of Directors, we also approved several changes and additions to the Federation’s charter.
RusRisk benefits from its membership in IFRIMA, as it helps to maintain and develop international contacts, establish local connections, such as with BRICS associations, and learn from their experiences. This is not just about European countries, the United States, and Canada. Risk management is actively developing in Asia, and there is already a lot to learn.
I would like to point out that the challenges for risk management are more or less the same in Russia and abroad. These include geopolitical threats, global economic problems, trade wars, inflation, and sanctions.
A separate topic is the technological threats associated with the introduction of artificial intelligence (AI), cyber threats to databases, regulatory threats, issues related to compliance, regulation of insurance companies and brokers, and captive companies, including issues related to cryptocurrency, as well as climate risks, the shortage of energy, raw materials, food, and water resources, and extreme weather events.
Unfortunately, we have fewer opportunities in Russia to address most of the challenges I have mentioned. To increase these opportunities, we need a deeper understanding from the government, public administration, and business, including the importance of coordinating the efforts of all parties involved.
This is despite the fact that risk management is a standard practice in North and Latin America, Europe, and parts of Asia. I believe that Russian companies lack the motivation of their management, top executives, and shareholders, and they do not fully understand the effectiveness of risk management for their business. Even in the field of municipal management, risk management can lead to positive results.
It is important to remember that organized risk management in Russia has only been around for a little over 20 years. This is not enough time. Professional associations in the United States have been around for 75 years, and in Europe, they have been around for over 50 years.
For this reason, it is challenging for Russian companies to adopt risk management practices and business models. There is a significant gap between the tools and maturity of business, particularly in terms of risk management and insurance.
Certification of risk management professionals can help address this issue. In the global market, it is difficult for risk managers to advance their careers without a certificate. We have been conducting national voluntary certification for 10 years, and we are constantly improving the training program and the certification exams. We use various forms of training. For example, we have prepared 16 video lectures on the entire certification training program, which initially included the main elements of the European FERMA-Rimap certification. We also follow the experience of American specialists and our colleagues from South Africa, Australia, and European countries.
We have noticed an increase in companies’ interest in certifying their employees. For example, in 2024, compared to 2023, the number of people certified through RusRisk increased threefold, and in 2025, it slightly exceeded the previous year’s level. This is a positive trend, and we continue to receive applications. We offer two main training periods: in spring and autumn. Additionally, we provide on-site training based on individual requests and company needs.
Not only risk managers, but also employees from insurance and brokerage companies, as well as internal control and audit specialists, are interested in certification. This is understandable, as one of the trends in risk management is the integration and coordination of risk management, internal control, and internal audit services.
In the near future, we plan to hold the annual Risk Management Forum on June 25-26 in Kazan and the “Best Risk Management in Russia 2026” competition. Applications for the competition are accepted until June 10. You can find the participation requirements on our website https://rrms.ru/.
