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2008-11-06: Johannesburg scoops Risk Management award

THE City of Johannesburg has won another accolade for the quality of its governance and financial management – this time from the Institute of Risk Management of South Africa (IRMSA).

The Johannesburg City Manager, Mr Mavela Dlamini, recently received the inaugural Risk Management Initiative in the local government category at a function at MonteCasino, Johannesburg.
 
The award was made in recognition of the initiatives taken by the City in setting up robust risk management structures. Among the initiatives taken by the city was the establishment of a Group Risk Management Committee.

The award ceremony was also attended by captains of the industry and Risk Services, a directorate of Joburg Risk and Audit Services. Judges for the awards were selected from the IRMSA Executive Committee and Santam, as well as experts from the risk management industry.

The criteria for making the award to Johannesburg included the following:

Ongoing contribution to the Risk Management Industry;
Development of new or innovative concepts to change or promote the discipline of Risk Management, outstanding creativity, expertise and experience in managing the risk portfolio of an organization and the ability to demonstrate the added value of a Risk Management programme.
The IRMSA Award is another on a long list of recognitions given to the city in the past 16 months that reflect well on the quality of governance in South Africa's largest city:

Johannesburg was named among the Top-12 cities in the world on the MasterCard Worldwide Centres of Commerce index for emerging markets. Johannesburg heads the list of cities on the African continent
It received the 2007 National Vuna Award for the best metropolitan government in the country
Both the City's short and long-term international credit ratings have improved and it now stands at AA+ and F1 short-term
Johannesburg was awarded the right to host the International Broadcast Centre for the 2010 Soccer World Cup. Successive delegations from FIFA have expressed their satisfaction with the City's preparations for this global event.
The Institute of Risk Management South Africa was formed in 2003 through the amalgamation of the Society of Risk Managers (SRM) and South African Risk and Insurance Managers Association (SARIMA).

It is a registered non-profit organisation representing individuals and companies committed to the enhancement of the Risk Management discipline in its widest context - enterprise-wide.

Effective Risk Management integrated across the enterprise was not only mandated in the King ll report on Corporate Governance, but is also the cornerstone to building a robust and successful business strategy, irrespective of the size of the organisation.