The Board of the Risk Management Institution of Australasia (RMIA) has today announced a strategic business services agreement with the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to manage all of its operational and administrative functions.
 
Under the agreement RMIA will reap benefits of scale and operational efficiencies offered by ANZIIF, including access to education and event management resources, a dedicated customer service department, improved membership support functions and marketing and promotional support for the risk management profession.  RMIA will also be able to capitalise on the international reputation of ANZIIF providing the platform for it to extend RMIA membership reach across Australasia and into the Asia Pacific region.
 
Brian Roylett, President of the RMIA and Chairman of the Board said the agreement was an important move towards growth and the future development of professional risk managers throughout Australasia.
 
“This service agreement will enable us to take advantage of ANZIIF’s experience and capacity to better meet the needs of RMIA members, while at the same time expanding our risk management capabilities and professionalism into new markets internationally where Australia through its leadership in the development of risk management standards is already recognised as a world leader,” he said.
 
Joan Fitzpatrick, CEO of ANZIIF, said that the deal was an important recognition of the close ties between the organisations and the need for efficiency of service for all membership bodies.
 
“At ANZIIF we not only have extensive experience managing a growing membership body of 14,000 members across 34 countries, we have also invested in advanced infrastructure systems which allow us to provide the highest level of member support, education and professional development opportunities.   We are very pleased to be able to work closely with RMIA to service its members and improve the standing of risk management professionals in the region,” she said.
 
RMIA Director, Kevin Knight AM, said that RMIA and ANZIIF share a strong relationship and aligned focus on education and the professional standing of members.  
 
“RMIA has outgrown its status as a burgeoning professional membership association and must take this opportunity to expand its services and reach, and to prepare for further growth and influence in the development of standards and the increasing professionalism of risk management globally,” he said.
 
The unanimous decision by the RMIA Board to outsource operational and administrative management took affect on the first of January 2010. The RMIA Board will focus on the strategic and policy direction for the risk management profession and RMIA members to ensure long-term strength and growth.  
 
Under the agreement all existing RMIA staff were offered full time roles within ANZIIF effective immediately.  Planning and implementation for a full year of RMIA professional development events including the Annual RMIA Conference is already in full swing.
 
For more information please see the following FAQ.

Frequently Asked Questions

1. About  RMIA (see www.rmia.org.au)
2. About ANZIIF (see www.theinstitute.com.au)
3. I am a member of RMIA – how will this affect me?
4. How will the organisational structure of RMIA be affected by this?
5. What benefits will the agreement provide to RMIA?
6. Why did the RMIA Board decide to do this?
7. Will RMIA members be able to have their say?
8. How will this directly benefit me as an RMIA Member?
9. Will the RMIA Membership designations remain?
10. Will the RMIA brand remain?
11. Was RMIA in financial difficulties ?
12. Did RMIA consider appointing a new CEO to manage the business as an alternative?
13. Did the Board of RMIA consider any alternatives? If so what were they?
14.  What has been the process to this date? When was this decision made?
15. I am a member of both RMIA and ANZIIF – do I still have to pay for both memberships?
16. Will my member services change in any way as a result of this?
17. Will the RMIA Annual Conference continue?
18. Will the conference still be held in Sydney in 2010?
19. Where will the RMIA office be now?
20. What will happen to the RMIA staff?
21. Will this affect the management or running of the RMIA Chapters?
22. Is this a merger?
23. Will ANZIIF be changing its name to accommodate risk management?

About  RMIA (see www.rmia.org.au)
The Risk Management Institution of Australasia Limited (RMIA) is the largest professional association and peak body for risk management in the Asia-Pacific region. Members of RMIA cover every sector of the economy and all levels of government. RMIA’s members are located predominantly throughout Australasia, but there is a growing membership internationally.
 
Risk professionals work across many diverse disciplines and market segments. They may feel a sense of isolation within their own organisation, but when they meet with other risk professionals, they talk a common language and share the premise that risk management is much more than the application of insurance and other risk financing products and services.
 
RMIA membership provides many ways to connect with fellow professionals.  Inexperienced risk professionals can comfortably mix with more experienced colleagues who are genuine in their desire to share their knowledge in risk management practices, procedures and learning’s in risk management.
 
The RMIA provides important linkages and networking opportunities between members especially through creation of special interest groups and well established Chapters. RMIA's education and accreditation to professional designations of Certified Risk Management Technician (CRMT) and Certified Practising Risk Manager (CPRM), facilitates professional development (including its premier annual conference), publications and many other special member benefits.

About ANZIIF (see www.theinstitute.com.au)
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is the leading provider of education, training and professional development services to the insurance and financial services industry in Australia, New Zealand and the Asia Pacific region.
 
ANZIIF’s commitment to providing relevant, high quality qualifications and education programs is underpinned by its role in partnering the industry and its members in the pursuit of professional excellence and business success.
 
Membership
ANZIIF’s 14,000 members set the world class standard for professionalism in the insurance and financial services industries. All ANZIIF’s qualified members are required to have industry-recognised qualifications, abide by a Code of Ethics, and maintain their skills and knowledge by completing an annual CPD program equivalent to 25 hours of professional development each year.  It is these standards that set ANZIIF’s membership apart from other others and why it has such a strong representation of members outside of Australia at more than 40% of its total member base.
 
Education
ANZIIF is the foremost multi-disciplinary insurance and financial management education provider to the financial services industry in this region.
 
ANZIIF offers a range of Australian Qualifications Framework (AQF) accredited programs to more than 7,000 students annually, and has won the Asia Insurance Industry Award for Education Service Provider of the Year 6 times in the last 8 years.
 
The Institute's broad range of education and training programs reflect its commitment to lifelong learning, from traineeship packages and compliance and development programs through to formal award course programs at Certificate IV, Diploma and Advanced Diploma level.  The Institute’s range of internationally recognised qualifications span sectors such as risk management, financial planning and workers compensation as well as award winning courses in insurance broking, general insurance, life insurance and loss adjusting.
 
Events
ANZIIF hosts hundreds of professional development and networking events each year across Australia, New Zealand and Asia. Through workshops, seminars, conferences and discussion groups, thousands of insurance and finance professionals keep their knowledge and skills up-to-date and gain important contacts across their industry.

I am a member of RMIA – how will this affect me?
This service agreement with ANZIIF allows RMIA to expand its member services and offer a comprehensive range of member benefits that it could not have provided otherwise.  As a member you will be able to take advantage of an expanded RMIA member focus including improved benefits, education opportunities and events and increased recognition of the risk management profession by creation of a higher profile with industry, commerce and Government.

How will the structure of RMIA be affected by this?
The RMIA Board will continue to govern and set the strategic direction of the organisation and the RMIA Chapters will continue in their role advising, advocating and assisting RMIA to provide professional development events for its members.
 
As part of the transition existing RMIA staff have all been offered full-time equivalent roles at ANZIIF. Operational management and administration of RMIA services will be managed across all relevant departments of ANZIIF, this is designed to achieve the highest levels of service continuity and operational efficiency for RMIA.

What benefits will the agreement reap?
Through this arrangement RMIA will reap benefits of scale and operational efficiencies, this includes the vast educational and event management resources at ANZIIF’s disposal along with a large customer and client services department, improved membership support functions and marketing and promotional support for the risk management profession.
 
It will also allow RMIA to capitalise on the international reputation of ANZIIF providing the platform for RMIA to extend its reach across Australasia and into the broader Asia Pacific region.

Why did the RMIA Board decide to do this?
The RMIA Board believes its vision to achieve sustainable growth within Australasia and across the broader Asia Pacific Region over the next three years will require it to do so in partnership with an organisation with advanced technologies, operational resources and supported infrastructure to provide the world class membership and professional development opportunities that RMIA member’s deserve. ANZIIF’s track record and its market position as a leader in learning and professional development programs for a significant member base uniquely qualifies ANZIIF as a suitable business partner for RMIA to achieve its sustainable growth objectives.
 
Through this agreement RMIA members will reap the benefits of the vast educational and event management resources at ANZIIF’s disposal along with a large customer and client services department skilled in delivery of improved membership support functions.
 
This service provision agreement will also allow RMIA to capitalise on the international reputation of ANZIIF providing the platform for RMIA to extends its reach across Australasia and into the Asia Pacific Region.

Will RMIA members be able to have their say?
The agreement to transfer and effectively outsource all operational and administrative activity to ANZIIF was considered, amongst other business management options, over a period of six months by the RMIA Board. The decision to seek a suitable outsourced partner in preference to costly investment in additional resources and technology was considered an important development for RMIA within the responsibilities of the Board and not involving any constitutional changes
The RMIA Board welcomes the active participation of members in all matters concerning their professional membership association and supports a consultative framework with reference to members for decisions, when and as required by the RMIA constitution

How will this benefit me?
As a member of RMIA you will be able to take advantage of an expanded RMIA member focus including improved member benefits, education opportunities, events and creation of a higher profile of the risk management profession in business and the broader community.

Will the RMIA Membership designations remain?
There will be no changes to the existing RMIA membership designations, post nominals or structure.

Will the RMIA Brand remain?
Yes, the RMIA Board will continue to govern and set the strategic direction of the organisation and protect the brand that has been established as the sign of a risk management professional.

Was RMIA in financial difficulties?
No, but like many other similar organisations the Global Financial Crisis and it’s potential long term impact on membership growth and financial resources did cause the Board to review how it could effectively deliver the range of quality services necessary for Members to advance their knowledge and skills as well as create a higher profile for the risk management discipline.  The Board’s review determined the required investment in staff resources, technology and design and delivery of  additional products to support the in-house development of RMIA’s Professional Development programmes to the level required for competitive growth could not be sustained in the long term with current financial reserves. The agreement with ANZIIF provides RMIA with immediate access the latest systems technology and Professional Development programmes at an affordable price.

Did RMIA consider appointing a new CEO to manage the business as an alternative?
During the GFC the RMIA Board considered a range of operational management options including the replacement of a CEO, appointment of an Executive Officer and Executive support staff.
The high cost of recruitment and remuneration levels of executive management at the expense of the essential infrastructure and technologies to support new initiatives required in the development of members services became a key focus of the Board in it’s search for an economically viable solution.
 
In the evaluation of options the Board considered that any investment would need to combine the attributes of an effective management structure and appropriate technologies, with the ANZIIF business management model providing RMIA with the resources required . The ANZIIF solution adequately addresses these fundamental business requirements of RMIA.

Did the Board of RMIA consider any alternatives? If so what were they?
The Board explored a number of options involving the development of various relationships with other organisations with similar aims and objectives that included ANZIIF, as well as keeping the administration and PD programme in house.  The most cost effective and financially responsible course of action was to explore partnering arrangements with suitably qualified organisations experienced in association management. Ultimately the superior members benefits of the ANZIIF business management model and its superior professional development programs for members  provided a solution that also allowed RMIA to remain in charge of its future.

What has been the process to this date? When was this decision made?
After careful consideration, the RMIA Board formally appointed ANZIIF to manage and oversee its operational and administrative functions in December 2009. This decision was seen by the RMIA Board as the next step for the organisation to meet its strategic goals on behalf of its members and reflected the significant infrastructure and operational benefits that such an arrangement would provide RMIA. This service provision arrangement commenced January 1, 2010.

I am a member of both RMIA and ANZIIF – do I still have to pay for both memberships?
RMIA and ANZIIF remain two separate organisations with separate member designations, services and benefits.
 
As a member of both organisations you will continue to receive completely separate benefits and continue to have access to each organisations professional post nominal. As a member of only one of either ANZIIF or RMIA you will only be able to take benefit of that organisations member benefits – neither organisation will be providing reciprocal member benefits to the other through this arrangement.

Will my member services change in any way as a result of this?
Yes, under this service arrangement you will be able to take advantage of an expanded RMIA member focus including improved communications, education opportunities, events and better promotion of the risk management profession. 

Will the RMIA Annual Conference continue?
Yes, the RMIA Annual Conference will continue in 2010 and will remain one of the most important fixtures of  the year for risk managers in the Asia Pacific Region.

Will the conference still be held in Sydney in 2010?
Yes, the conference will be in Sydney in 2010, and planning is underway for RMIA’s Annual Conference, RMIA2010.

Where will the RMIA office be now?
Operationally the RMIA is now occupying the office space with ANZIIF at its headquarters in Melbourne. Communications by telephone and email remain unchanged .
 
The address is:
RMIA
Level 8, 600 Bourke Street
Melbourne, Vic 3000

What will happen to the RMIA staff?
All of the RMIA staff have been offered new roles at ANZIIF which started at the beginning of 2010.

Will this affect the management or running of the RMIA Chapters?
The Chapters will continue to perform their role in advising and supporting the provision of RMIA events and growth of membership in their markets. ANZIIF staff will manage the events and will work in partnership with Chapters to hold successful, quality events around the country.

Is this a merger?
No.  While ANZIIF will assume all administrative and operational management responsibilities for RMIA, remains independent and as a separate body with its own brand, membership designations, values, mission, structure and services
 
The RMIA Board will continue to govern and set the strategic direction of the organisation and member services will remain in place as they have done in the past.
 
This arrangement was made with ANZIIF to ensure that enhanced membership services and support could be delivered to RMIA members within the resources of the organisation and that the professional association could continue with its longer term development goals and strategies.  Through the arrangement with ANZIIF, RMIA will reap the benefits of scale and operational efficiencies nationally, as well as capitalise on the international reputation of ANZIIF providing the platform for RMIA to extend its reach into the Asia Pacific Region.

Will ANZIIF be changing its name to accommodate risk management?
No, ANZIIF and RMIA remain two separate bodies. This arrangement between ANZIIF and RMIA will not affect the brand or name of either organisation.