RISK MANAGEMENT ADVOCACY-REACHING THE CRITICAL FRONTIERS , BEING TEXT OF THE ACCEPTANCE SPEECH DELIVERED BY MR RAYMOND AKALONU, FRMN ON THE OCCASION OF HIS INVESTITURE AS THE 6TH PRESIDENT AND INAUGURATION OF THE NEW EXECUTIVE COMMITTEE OF RISK MANAGERS SOCIETY OF NIGERIA (RIMSON) ON THURSDAY, 24TH OF OCTOBER, 2019 AT THE LAGOS ORIENTAL HOTEL, VICTORIA ISLAND, LAGOS.

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May l also acknowledge the roles of the founding fathers of RIMSON whose remote contemplations in the early days, like the proverbial mustard seed have grown to become the mighty oak that our Society has since transformed into. The Society’s founder and grand patron, Chief(Dr) Oladipupo Abiodun Bailey,FRMN passed to eternal glory a few months ago, leaving behind a glowing legacy of commitment to professionalism in risk management. Chief Bailey carried on with such zest that many have described as a loud and unhibited voice which also became the hallmark for a coordinated risk management advocacy by successive leadership of RIMSON in the last few years .

Indeed, RIMSON has been blessed with committed and selfless leaders whose pursuit of the broad objectives of the Society, chiefly the propagation of risk management awareness and culture (as part and parcel of our national consciousness), has remained exemplary.

RIMSON’S Hall of Fame is therefore adorned by these great leaders with indellible footprints that have shaped the trajectory of RIMSON as the pioneer risk management body in Nigeria.The first two icons on this honour list have passed to eternal glory but will continue to be remembered. Chief Bailey, for his pioneering efforts and vision for RIMSON, and Pastor Adegboyigi for extending the frontiers of RIMSON beyond the insurance industry and for leading RIMSON in successfully championing the local content imperatives for the oil and gas sector. The remaining three, including the outgoing president, have ramained actively involved in the advancement of RIMSON’S growth agenda, notably a coordinated continuous professional development scheme relentlessly geared to sharpening the skills of professional risk managers in practice. Odunayo Bammeke is unarguably creditted with introducing the activities of RIMSON to Abuja the seat of government when in 2009 during his tenure as president, the Risk Management Conference was hosted in Abuja with a record attendance.

THE RIMSON HALL OF FAME
● Chief(Dr) Oladipupo Abiodun Bailey, FRMN (Late)
● Pastor Tola Adepoyigi, FRMN(Late)
● Mr Odunayo Bammeke, FRMN
● Mrs lneobong Efiom-Ekaha, FRMN, and
● Engr Jacob Taiye Adeosun, FRMN.

Each of these great leaders share the common destiny of propelling RIMSON to enviable heights in collaboration with the ever committed membership which cuts across the diverse sectors of the national economy: oil and gas, insurance, banking and finance, manufacturing, government agencies and parastatals, the academia and the judiciary to mention but a few.

Since its establishment in 1985, RIMSON has remained resolute in the promotion of risk management education, especially through its flagship National Risk Management Conference as well as the Executive Risk Management Seminar both of which are held annually. The conference has remained consistent in focussing critical risk management issues with emphasis on providing research-based solutions.

The newly established Centre for Risk Management Development (CRMD) is RIMSON’S Education and Training subsidiary which is approved by the Federal Ministry of Education. The CRMD is committed to the provision of risk management tutorials and examination for persons desirous of acquiring a working risk management qualification in today’s complex business environment. The CRMD has proved to be the opportunity which many had been waiting for. Its flexible and learner-friendly approach guarantees learners an opportunity to grow at their own pace.

The Society has recently resuscitated its Risk Management Digest, a publication which has become referential for learned articles on various risk management subjects. The Digest is also available online for RIMSON members as well as its affiliates. The Risk Management Digest is easily the preferred publication for readers in quest of regular updates on knowledge-based risk management materials.

THE EMERGING DISPENSATION- ACCEPTANCE OF THE CALL TO SERVE

Today the call to offer selfless service beckons once again in the annals of our esteemed Society.lt therefore behoves those of US charged with the responsibility to hold the RIMSON reins for the next couple of years to openly pledge our acceptance of the mandate of office. No doubt, the tasks are onerous and demand nothing less than a committed and selfless service in order to keep the RIMSON flag flying.

We stand before you committed to the furtherance of the risk management ideals our Body stands for. We pledge our individual and collective resolves to take RIMSON to greater heights and to ensure that the risk management advocacy fire keeps burning bright. Although it is difficult to list all the possibilities ahead of our burning desires to serve, we nevertheless wish to provide the following signposts for the journey we commence today.

● That we shall uphold the RIMSON constitution and remain committed to the ethos of risk management as enunciated by our guiding principles and fundamental objectives
● That we shall be loyal to the RIMSON “family bond” as the rallying point for professional risk managers in Nigeria, providing veritable platforms for continuous risk management education and the regeneration of technical skills and expertise for effective risk management development and practice.
● That we shall maintain and sustain RIMSON’S existing affiliation with global risk management bodies such as Membership of International Federation of Risk and Insurance Management Association (IFRIMA ) and leverage these affiliations for the development of risk management in Nigeria.
● That we remain committed to the reinforcement and conclusion of on-going collaboration with the Office of the Head of Civil Service of the Federation towards entrenching risk management culture in all government agencies and parastatals in Nigeria
● That we shall continuously grow the RIMSON Membership and harness its unity of purpose in order to develop stronger liasons with the respective corporates where our members are actively engaged
● That efforts must be intensified towards the establishment of more RIMSON branches in the geopolitical zones of the country followig the successful take off of the Abuja branch
● That we shall work assiduously towards making RIMSON the hub of Risk Management Development in the West African sub-region by deploying CRMD’s online outreach and growth potentials
● That we shall continually strengthen the research potentials and capabilities of RIMSON and ultimately guarantee more regular risk management reports on major national disasters with suggested mitigants and solutions

Distinguished Chairman, the Special Guest of Honour, the Body of Fellows, Distinguished Ladies and Gentlemen, our resolve to conquer new risk management frontiers shall be unequivocal. Our focus on the actualization of the foregoing promises shall engender beneficial alliances and synergies leading only to pathways of growth and development for our Noble Society.

We are in no doubt about the challenges facing our nation today including insecurity and the integrity of some of our national assets and infrastructure the management of which ought to take more cognissance of proactive risk management processes and solutions. As professional risk managers we shall endeavour to make our expertise and inputs available to government and its agencies.

The theme of our 2018 National Risk Management Conference: RISK MANAGEMENT & NATION BUILDING-TRANSFORMING NATIONAL CHALLENGES TO OPPORTUNITIES was a classic case of exploring the efficacy of risk management for nation building. The outcomes of the communique issued at the end of the conference and circulated widely remain quite instructive and far-reaching. The communique has led to significant developments with beneficial impacts for our nation. ln the ensuing days and months, our efforts shall be geared to pursuing these new frontiers of risk management advocacy to a logical conclusion.

Permit me to seize this opportunity in soliciting the continuous support of the Society of Fellows, comprising our top echelon risk management professionals. As esteemed custodians of risk management ideals, your support shall remain an invaluable asset as we march forward in the ensuing days. May specifically acknowledge our new Fellows from the academia such as Professor Mohammed Nasirudeen Maiturare, Vice Chancellor of lbrahim Badamosi Babangida University, Lapai, Niger State,who is a seasoned risk management professional. The roles of our Fellows in the academia cannot be overemphasized.As role models and opinion builders, they are undeniable leading lights in our Body’s new quest to reach the most critical frontiers in our Risk Management Advocacy.

Let me thank my beautiful wife, who has stood solidly behind me as the moments inched closer to this remarkable day. She has equally pledged to give me all the support l need to excell in this onerous responsibility as the 6th President of our great Society.

My sincere appreciation goes to the Chairman and entire Board of Directors of FBN Insurance for giving me the firm platform to engage the responsibilities of professional risk management and the call to serve this great Society.l am indebted to the FBN family for giving me the nod to proceed this far.

To my predecessors, past presidents of RIMSON, I thank you immensely for your glowing legacies which we are keying into in going forward. You are indeed great men and women.

l thank all my family, friends, colleagues and associates from far and near who have left their very busy schedules to be here today and for supporting this quest with their unquantifiable goodwills. Thanks a million times.

l cannot end this speech without acknowledging what a great team l have in the new Executive Committee. My able Deputy Musa Lawan, l thank you for your pledge to join hands with me in creating the most amazing synergy in ensuring that we forge ahead in the task before US.

The press has been wonderful in their reportage. Together we shall make risk management and RIMSON the households references of today.

Distinguished Ladies and Gentlemen, l thank you for your attention.

RAYMOND AKALONU, FRMN,
President/Chairman of the Governing Board,
RISK MANAGERS SOCIETY OF NIGERIA (RIMSON)