The Finnish Risk Management Association Wellcoms You

The Finnish Risk Management Association (FinnRima) was founded in 1987 and was officially registered as an association on January 31, 2007.

In the modern business environment, the significance of risk management has grown in the last few years and this has lead to the development of risk management becoming a natural part of the planning and management practices for many companies. This trend continues as the business environment becomes more complex: globalisation is accelerating, legislation is becoming ever more complicated and stakeholders and other interest groups are making more demands. So, the effective management of both hazard and business risk is an increasingly important part of cost efficiency and competitiveness of companies.

Furthermore there have been remarkable changes in risk management methodologies and activities. For instance, risk financing has quickly become more international in nature, whilst the Finnish insurance broking business has developed alongside more advanced insurance solutions and risk financing options.

Presentation of FinnRima

Members

At the moment FinnRiMa has around 350 individual and corporate members. The individual members are most often Chief Risk Officers, Risk Management and Security Directors and Managers of Finnish companies, as well as insurance brokers, insurance underwriters and engineers, and risk management consultants. The corporate members include Finland’s major industrial enterprises and conglomerates, and most insurance and broking companies.

Mission

The focal point of the Association’s operations is risk management development in companies. The objective is to bring together risk management professionals within different industries, encourage sharing of best practices, and support and promote risk management thinking and distribution of knowledge throughout society.

Co-operation

As per its mission, FinnRiMa supports co-operation with other corresponding organisations both in Finland and abroad. Accordingly, the Association is a member of the international FERMA organisation.

The objective of FinnRiMa is to contribute to education and research in the field. It allocates scholarships and grants for risk management-related essays and theses, and may participate in funding other risk management development projects. The Association aims at influencing risk management regulation development e.g. by making statements, giving expert’s opinions and co-operating with the relevant authorities.

Administration

FinnRiMa’s operations are decided upon in the biannual spring and autumn meetings. The practicalities are managed by the Board which is elected for a one year period and consists of  a maximum of ten and minimum of five members in addition to the Chairman.