Stakeholders see increasing role of risk managers in nation building

Government and stakeholders in the risk management industry has identified increasing role of risk awareness and adoption in nation building.

They believe that some of the challenges facing the nation currently, including natural catastrophes could be turned into opportunities if well harnessed.

Besides, they emphasized the importance of risks managers steeping up in their responsibility through advocacy and cultural integration.

These were the takeaways at the recently concluded 2018 National Risk Management Confab organized by the Risk Managers Society of Nigeria (RIMSON) with the theme ‘Risk Management and Nation Building-Transforming National Challenges to Opportunities’ held in Abuja.

Winifred Ekanem Oyo-Ita, head of the Civil Service of the Federation, who declared the conference open said “Government certainly needs your support as Risk Managers to effectively pre-empt most of the national challenges, be it natural disaster like flash floods ravaging several parts of the country or other socio-economic problems”

She said the application of risk management solutions to the wide spectrum of our national challenges, holds out huge potentials “for proffering solutions that could prevent or turn those adversities to opportunities”

Oyo-Ita urged that the task of nation-building is a collective one stating that together we will all continue to strive towards addressing the challenges of our country in their diverse forms.

She noted that RIMSON is uniquely positioned to be one of the collaborators which the Service craves, especially in the area of providing advocacy through its awareness campaign programmes in the quest to attract counterpart support from both Federal and State Government Agencies for the provision of land and necessary primary infrastructure in order to help reduce the cost of housing.

Sunday Olorundare Thomas, deputy Commissioner, Technical at the National Insurance (NAICOM)

Speaking on the theme ‘Managing National Catastrophe Risks’, made vital statements about the imperative for reinforcing the extant disaster management policies while also stressing the need to identify and pre-empt collateral damage if and when disasters occur.

Thomas also recommended adequate and appropriate funding of disaster management and recovery programmes.

Raymond Akalonu, speaking on Enterprise Risk Management-An Overview of the Risk Management took the conference delegates through the risk management process with ample case studies. The ERM paper canvassed layers of responsibilities in ensuring the effectiveness of managing the risks of an enterprise and ensuring the smooth running of the organization with minimal risk exposures.

Jacob Adeosun, president of Risk Managers Society of Nigeria, in his address, reviewed the recent strides of RIMSON, drawing attention to the Society’s objectives, especially the quest towards making RIMSON the hub of Risk Management Education in Nigeria and ultimately in the West African Sub-region through the establishment of the Centre for Risk Management Development (CRMD).