Risk and Insurance Management Society
Kristen Peed, president at the Risk and Insurance Management Society, speaks with Diana Bui about her aspirations to support and promote collaboration within the global risk professionals community
From a strategic perspective, what do you see as the most pressing global risks organisations must address in 2025?
Risk management is entering a new era. Risks today are more impactful, frequent, and unpredictable than ever before. At the same time, businesses increasingly recognise the value of strong risk management, leading to heightened expectations for risk professionals. This presents a unique opportunity — one that risk leaders must seize.
Technology remains the most significant challenge for organisations and risk professionals alike. Cybersecurity and data privacy are top concerns in boardrooms worldwide. Meanwhile, the rapid pace of technological innovation introduces further risks.
As companies race to remain competitive, risk leaders must work closely with IT teams to fully understand and mitigate potential vulnerabilities. Proactive risk management in technology not only safeguards the organisation but also enhances processes, expands service offerings, and drives business success.
The key to managing technology-related risks — and all organisational risks — is fostering a culture of risk awareness across the enterprise. Risk professionals should actively engage with business leaders to demonstrate how risk management supports their strategic objectives.
Ultimately, managing today’s most pressing risks — whether cybersecurity, extreme weather, nuclear verdicts, or emerging technologies — requires a collaborative approach. Risk professionals are uniquely positioned to lead these efforts, bringing together cross-functional teams to navigate an increasingly complex risk landscape.
How can RIMS support risk professionals in preparing for emerging risks in today’s rapidly evolving environment?
This year, the Risk and Insurance Management Society (RIMS) is celebrating its 75th anniversary, marking decades of commitment to delivering resources, educational programming, and industry-leading events like RISKWORLD. The Society also offers the RIMS-CRMP certification, equipping risk professionals with the knowledge and tools to navigate today’s challenges.
The strength of RIMS lies in its community. By providing platforms for professionals to share ideas and learn from one another’s experiences, RIMS fosters collaboration that is essential for addressing emerging risks. Leveraging real-world insights, identifying trends, and exchanging best practices enable the RIMS community to not only manage risks effectively but also turn them into strategic opportunities for their organisations.
What role do you think climate change and ESG considerations will play in shaping risk management strategies, and how will RIMS help guide its members in this area?
Climate change and ESG considerations will impact risk management strategies differently depending on the industry. For example, organisations in the agriculture sector closely monitor extreme weather patterns, rainfall, and other environmental factors, while financial services firms may place climate risks lower on their risk registers.
However, recent events such as wildfires in Canada and California highlight the increasing importance of climate-related risks across all industries. Wildfires and severe flooding can cause significant business and supply chain disruptions, making climate resilience a critical concern for risk professionals.
From a governance and compliance perspective, staying up to date with regulatory changes is essential. RIMS brings risk professionals together, allowing members to share their experiences and insights of how these events or regulatory changes have impacted their organisations. By learning from both successes and failures, the RIMS network helps professionals navigate evolving ESG and climate risks more effectively.
What’s your vision for RIMS during your presidency, and what do you hope to achieve for its members in 2025?
As I mentioned earlier, we are in a new era of risk management, where risk professionals must prioritise their professional development. While we celebrate RIMS's history, we must also look ahead to its future. One of my key goals is to ensure that RIMS continues to provide thought-leading education and resources that will support risk professionals for the next 75 years.
I am also deeply passionate about mentoring. Seasoned risk professionals, like myself, have a responsibility to give back and support the next generation of risk leaders. More and more students are choosing careers in risk management, which is fantastic — but how do we ensure they stay in the field? Providing opportunities, resources, and support for early career professionals is a top priority for me.
To achieve these goals, RIMS will officially launch ‘RIMS, The Foundation for Risk Management’ later this year. This initiative will further advance research, expand engagement opportunities, and offer scholarships and grants to support early career professionals.
We are calling on our partners to join us in this endeavour, and we are confident it will be a great success.
How will you advocate for more international collaboration and knowledge sharing within the RIMS community?
One of RIMS's priorities is to establish a global standard for risk management, ensuring that the expectations, roles, and expertise of risk professionals align worldwide.
A key initiative in this effort is the RIMS-Certified Risk Management Professional (RIMS-CRMP) certification — the only globally accredited risk management certification. To date, more than 1,500 risk professionals across over 60 countries have earned this mark of achievement. The certification’s growing international traction highlights the increasing commitment to shared knowledge and best practices across borders, strengthening global collaboration within the risk management community.
Diversity, equity, and inclusion are key focus areas for many industries. How do you plan to champion these values in the risk management field?
RIMS's Diversity, Equity, and Inclusion Advisory Council has played a crucial role in shaping initiatives that foster a more inclusive environment for risk professionals from all backgrounds.
Additionally, the society continues to build strategic partnerships with risk management and insurance groups that support professionals from diverse backgrounds and cultures.
Ultimately, we are stronger together. There is immense value in learning from individuals with different experiences, career stages, and industry perspectives. Diversity in thought is a powerful driver of innovation and progress in risk management.
What steps are being taken to engage and empower the next generation of risk professionals?
RIMS and its 80 chapters worldwide offer numerous opportunities to support rising risk professionals. The society provides scholarships for risk management students to attend RISKWORLD and other RIMS events, helping to foster industry engagement and professional development. Personally, RIMS was an invaluable resource early in my career. Beyond providing insights into risk management strategies and trends, my involvement as a RIMS volunteer with the Northeast Ohio Chapter allowed me to serve on its board, lead meetings, speak in front of groups, and make strategic decisions for the chapter.
These experiences helped me develop essential business skills that have benefited my entire career. I encourage other rising risk professionals to explore opportunities within their local RIMS chapters to gain similar experience and professional growth.
How is RIMS addressing major challenges like cybersecurity, AI, and overall business resilience?
Throughout the year, RIMS provides a wide range of learning opportunities to address these critical issues. RIMS Risk Management Magazine and RIMScast, our podcast series, regularly cover these emerging and evolving risks. Of course, I would be remiss if I did not mention RISKWORLD, the largest gathering of risk professionals globally. This year, RISKWORLD takes place from 4-7 May in Chicago, where we expect over 11,000 attendees, 300 risk management solution providers, and more than 100 educational sessions. With cybersecurity and AI top of mind, not only will there be numerous sessions dedicated to these topics, but they are sure to be central to many discussions during networking events and business meetings at the conference.
Looking ahead, what would you like your legacy as RIMS President to be?
Wow, it has only been a month into my presidency, and I am already being asked about my legacy! Over the past 75 years, so many incredible risk professionals have held this role, and my goal is to follow in their footsteps.
At the end of my term, I hope the RIMS community recognises just how passionate I am about advancing both the risk management profession and RIMS itself.
