FEEDBACK FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER - IRMSA 2020/2021 - The Institute of Risk Management ...
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FEEDBACK FROM THE PRESIDENT AND CHIEF EXECUTIVE OFFICER IRMSA 2020/2021
Dear Members
Notice of the 18th IRMSA Annual General Meeting (AGM), which is being held on 23 June 2021, has
been sent out to members. Due to the COVID-19 pandemic, IRMSA’s first objective is to always
keep our members and team safe and therefore the event will be held virtually again this year.
After the successful digital AGM hosted in 2020, where members who attended, who ordinarily
would not manage to come to the session as they are based outside of Gauteng, we realised
that the virtual platform allows for more members to attend from all over South Africa and from
outside of our borders.
Each year, along with the formal AGM programme, we include an additional session to the AGM
programme, where we hope to add even more value to our members attending. This year is no
different as we will conclude the meeting with a thought leader who is well known to many of us
and who will focus on an area that is of huge importance to all professionals right now, namely,
social media and reputational risk in our new digital world of work. Leading social media lawyer,
Emma Sadleir, will share her invaluable insights on how to respond to the new challenges we
all face by raising awareness, educating, and changing the behaviour of the work force, be it at
executive, operational or professional level.
In the year 2020, a year where we suddenly found ourselves in a very different landscape, IRMSA
had to convert all activities very quickly to online platforms. In a short space of time, all events,
training, board exams and meetings were digitalised and the IRMSA Team found various and
interesting ways to engage with members and stakeholders. Although a difficult challenge,
particularly when the whole IRMSA team and our committees were now working from home, it
was a challenge that was confronted with enthusiasm and determination. The digital
landscape has opened various opportunities for IRMSA to think differently about how members
are engaged with and given value for their membership, and to move not only the Institute, but
the profession of risk management, into the future.
At the beginning of the new financial year, on 1 March 2020, the IRMSA Executive Committee
agreed that four areas of the Institute and its operations were crucial and needed to be
addressed with urgency:
1. IRMSA members would be supported through a year where the role of the risk professional
was elevated higher in organisations and where new skills were suddenly needed to navigate
through this new territory.
2. The safety of members - thereby ensuring that all IRMSA activities were not only
digitalised but also making sure that the virtual world of work was optimised to ensure that our
members remained excited by IRMSA offerings and were able to continue learning and
upskilling.
3. Make a difference in South Africa and continue to elevate the profession of risk and the IRMSA
brand.
4. The IRMSA employees would be cared for during the pandemic with job security and the
reassurance that the team could continue to work with focus to meet the needs of our
members, without being distracted with the potential anxiety that downsizing creates. It was
also clear that
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IRMSA’s operations were not slowing down but ramping up, and all hands were needed to ensure
that IRMSA could commit to the objectives set out for the year.
By focusing on those four areas, IRMSA was able to push through a very hard year where many
other professional bodies have been unable to retain members, have lost major sources of
income and have had to lose many employees in order to keep their associations from going
under. IRMSA is so grateful to its committed volunteers, members, and the Team, who ensured
that the digital transition of IRMSA was very well supported.
The EXCO is pleased with the results from the last financial year. To achieve the four areas of
urgency, the EXCO had budgeted for a substantial loss which had meant that the IRMSA cash
reserves would be used quite heavily. The Institute came in more than R1,000,000 less than what
had been budgeted for as a loss for the year, which meant that IRMSA did not need to use the
cash reserves as much as anticipated.
In 2020, IRMSA started the year once again encouraging members to be Risk Activists, which
continued from the previous year where the theme had been ‘#Impact – A Year of Risk
Activism’. The 2020 year was themed, ‘Leading the journey to a risk intelligent future’, which
resulted in a very appropriate theme for a year when we went into Lockdown in March and the
landscape looked extremely uncertain and risk management was pulled to the forefront in all
organisations and was seen as the light to guide the way. Our risk professionals were called to guide and
support their organisations on a very difficult journey, and they most certainly took charge as risk
activists and leaders. IRMSA was able to support our professionals through the various activities
that were digitalised, ensuring that members were always able to access IRMSA through various
engagements, activities, and discussion platforms.
There were some amazing accomplishments in the last year, where the brand of IRMSA and
its members have most definitely been elevated. To mention a few before we highlight the
achievements in each department in the report to follow:
• IRMSA’s brand and visibility were elevated within the media in 2020 and this has had a very
positive impact on the Institute.
• Communication with the Office of the Presidency, providing an emerging risk profile to
government as well as offering IRMSA’s guidance on strategic, risk and resilience support.
Highlighting issues related to corruption, food scarcity and the control of the funding made
available.
• Membership and the retention thereof were major priorities for IRMSA in 2020. The IRMSA
EXCO identified the potential loss of membership as a major red flag. In 2020, IRMSA was
pleased that it retained individual members and increased revenue by 5% compared to the
previous financial year. Corporate Membership saw an increase of 9% in this membership
category – the highest level ever seen at IRMSA. The increase in Corporate Membership
clearly demonstrates how risk management has been recognised as a vital practice and role
within organisations.
• After launching our first digital event in March 2020, IRMSA very quickly explored various
ways to host webinars and events for our members, understanding that the online meeting
and event experience was going to become monotonous and tiring. By May 2020, the team
began hosting larger events using green screen studios, set up at the IRMSA offices, and
managed to use multimedia and creative ways to enhance the online experience. In June
2020, IRMSA hosted its first digital AGM. This was a huge success as members in South Africa
and outside of the borders, who had never been able to attend an AGM before, could enjoy
the full experience.
• The IRMSA Annual Conference is a major event in the risk management calendar for all risk
professionals and business leaders. The IRMSA Team converted the Conference into a new
event experience by ensuring that delegates would still receive the excellent content that they
were used to but could also engage and interact and attend up to eight different streams.
IRMSA introduced gamification into the experience, which was a brand-new concept for
the Team and managed to explore endless creative ideas ensuring that the first ever online
Conference for IRMSA members was a great success.
• IRMSA hosted the first ever digital board exams in 2020, in June, October and November. This
was a successful transition, and the needs of all members were met without anyone having
to travel to other regions to write their exams.
• Training was converted to a digital platform where members could experience online
training, where training was offered with a facilitator online, and e-learning was launched.
Although members missed having the classroom experience, it was soon realised that
training and upliftment were well needed. IRMSA appreciated how the facilitators worked with
and supported the Team to help transition training to a digital platform.
• During a year where no in-person activities could take place, IRMSA was able to reach out
to members and risk professionals in regions who would not normally be able to participate
in events or training, unless they were able to travel to the province where the activity was
taking place. 2020 allowed many risk professionals to participate in so many webinars,
training, and events than they normally would. The digital platform made it possible for the
Eastern Cape Committee to be created and become active using the online platforms to
launch IRMSA in the Eastern Cape, with a dynamic and energetic committee. This allowed
IRMSA to be formally present, with a regional committee, in five provinces. Discussions have
started in Mpumalanga and the Free State to formalise committees for both regions.
• In 2020, a major project that came about was when IRMSA recognised that food scarcity
in South Africa would become a crisis due to lockdown and the loss of employment and
income for so many people in the country. IRMSA quickly established a relationship with
FoodForwardSA to promote fundraising for this NGO. In doing so, IRMSA managed to pull
in 13 other professional bodies and associations, who joined forces with IRMSA to get the
message out to its stakeholders and networks. Over R81 million was raised by FoodForwardSA
through this campaign. Not only did this campaign feed millions of people but it attracted
much media attention for IRMSA and the public being able to understand the risks facing the
country through the impact of COVID-19.
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• IRMSA moved into new premises during Lockdown last year, on the lower ground of the same
building that we have always been in. The move came at a terrible time where we received
the keys at the beginning of April but once we were able to get into the new offices, the
renovations took place and IRMSA was able to move into its new home. The new space has
allowed for better social distancing and for staff and IRMSA members to be outside in the
garden that the IRMSA offices open on to. It also has a wonderful energy and more space for
meetings and training.
• In the last year, a major highlight was the support from our committee members, members,
and volunteers. It was a year where the strength of the IRMSA community was so apparent
and indicative of how IRMSA’s areas of success are always achieved by teamwork with the
well-known saying of IRMSA, “for the members, by the members”.
We will present a synopsis of the last year and the year ahead at the AGM, but we will share a full
overview of each area of IRMSA with you in the information below, to prepare you for the meeting,
or to keep you updated should you be unable to attend.
Thank you to all members for working together with IRMSA, taking on so many challenges during
a very uncertain period and making it a year of change, transition, and success. The last year
most definitely paved the way for IRMSA to take its next step up!
5The year that has passed – an overview of the 2020/2021 financial year:
IRMSA COMMITTEES
IRMSA members continue to impress, with their support and willingness to participate on the
various committees as volunteers, even more so in the last year where all committees and
meetings were online. Meetings took place early in the morning and late at night, finding gaps
in diaries during a time where our members have never been busier! The many projects and
initiatives undertaken would not be possible without the valuable contribution by the various
committees and respective members. IRMSA is given so much guidance and shown great
leadership, by these members and the various chairs of the committees, who helped guide
IRMSA through 2020.
A word of thanks is extended to the committee member’s employers who generously permit
them the time to attend meetings and events as well as the various deliverables in addition to
their demanding full-time jobs.
In terms of the Constitution, the function of the Executive Committee (EXCO) is to manage
the affairs of the Institute, devise the strategy and report back to members at the AGM. The
EXCO continue to lead the Institute and have met every month since March 2020 to ensure the
sustainability of IRMSA though the impact of the COVID pandemic. The IRMSA Finance and Audit
Committee also meet every month and track each area of IRMSA’s business.
At the first EXCO meeting hosted after the IRMSA AGM in June 2020, Thabile Nyaba was elected
as President of IRMSA taking over the reins from Berenice Francis, who had been President of
IRMSA for three years. Berenice continues to chair the Education and Technical Committee and
is still a member of the IRMSA EXCO. She has been a very strong support of IRMSA and its growth
for well over ten years and IRMSA is so grateful for her dedication to the Institute.
Executive Committee
Thabile Nyaba, President – Chairperson
Berenice Francis, Past President
Christelle Marais, Vice President
Andy Mothibi, Vice President
Mark Kuipers, Honorary Treasurer
Fulufhelo Tshikhudo, Honorary Secretary
Brendan Maseti
Fortune Mkhabela
Pavana Ranjith
Mark Robins
Bheki Gutshwa (Co-optee)
Betty Spencer (Co-optee)
Gillian le Cordeur
Christopher Palm
6Africa Committee Eastern Cape Committee
Junita Van Der Colff – Chairperson Bridgette Mogale – Chairperson
Michael Duncan Hombakazi Funeka
Alastair Rosekilly Thami Mosehana
Alex Roberts Jade Boucher
Michael Davis Loren Smith
Peter Links Fezile Ndema
Charlene Stothers Phumzile Zitumane
Tendayi Pswarayi Gillian le Cordeur
Christopher Whittle Lucia Khonjelwayo
Ntsiki Radebe Zamaswazi Maphorogo
Gillian le Cordeur Roberta Govender
Lucia Khonjelwayo Valerie Pillay
Zamaswazi Maphorogo Roxanne Moodley
Roberta Govender
Valerie Pillay Education & Technical Committee
Roxanne Moodley
Berenice Francis – Chairperson
Audit and Finance Committee Claude Hamman
Motlatsi Mabaso
Mark Kuipers – Chairperson Laura Mallabone
Chris Brits Fortune Mkhabela
Berenice Francis Werner Otto
Christelle Marais Babitha Rajpal
Andy Mothibi Nadine Rix
Thabile Nyaba Christopher Whittle
Mark Robins Whitey Van Der Linde
Gillian le Cordeur Gillian le Cordeur
Claudene Pillay Nthabiseng Mdhlozini
Zandile Nyembe
Complaints Committee
Events Committee
Nandipha Tselanyane – Chairperson
Werner Bouwer Sheralee Morland – Chairperson
Walter Ehrlich Pavana Ranjith
Dominik Heil Lesego Moalusi
Elvinah Munetsi Nicolene Gerritsen
Gillian le Cordeur Phillip Mosiane
Sarah Bain Sylviah Gurumani
Kathleen Osterloh Gillian le Cordeur
Valerie Pillay
Roxanne MoodleyKwaZulu-Natal Committee Membership Committee
Amith Sukhnandan – Chairperson Pat Mlanduli – Chairperson
Jeanette Englund Bheki Gutshwa
Nkosinathi Mhlongo Zodwa Bill
Msizi Gumede Sharon Carson
Boitumelo Mokgatle Thulani Mkhungo
Thasleem Osman Beauty Mtonga
Jay Ramharak Simphiwe Sitwayi
Helper Zhou Eleni Albanis
Dikeledi Mnyandu Gillian le Cordeur
Andrew Pike Sarah Bain
Ingrid Cawood Zamaswazi Maphorogo
Gillian le Cordeur Roberta Govender
Lucia Khonjelwayo
Zamaswazi Maphorogo Namibia Committee
Roberta Govender
Valerie Pillay Melanie Harrison – Chairperson
Roxanne Moodley Eben de Klerk
Michael Beukes
Legal, Risk & Compliance Committee Saima Nimengobe
Horst Simon
Fulufhelo Tshikhudo – Chairperson Benestus Kamatuka
Mpho Modisane Jacqueline Meissenheimer
Sidney Mongala Kenneth Kasata
Vincent Napo Emmy Muandingi
Nandipha Tselanyane Gillian le Cordeur
Gillian le Cordeur Lucia Khonjelwayo
Sarah Bain Zamaswazi Maphorogo
Kathleen Osterloh Roberta Govender
Valerie Pillay
Limpopo Committee Roxanne Moodley
Boitumelo Mabotja – Chairperson Professionalisation Committee
Lufuno Davhana
Komane Maphutha Fred Goede – Chairperson
Millicent Mashamaite Marianne Hendrikse
Azwifaneli Mudau Freda Madungandaba
Funanani Khosa Laura Mallabone
Percy Masakona Jackie Young
Gillian le Cordeur Vanessa Thurlwell
Lucia Khonjelwayo Gillian le Cordeur
Zamaswazi Maphorogo Nthabiseng Mdhlozini
Roberta Govender Portia Sangweni
Valerie Pillay
Roxanne MoodleyPublic Sector Committee Student Committee
Betty Spencer – Chairperson Eleni Albanis – Chairperson
Thabile Nyaba Malebo Phala
Thulani Mkhungo Duncan Wernberg
Bheki Gutshwa Nwabisa Bixa
Musawakhe Khumalo Altus Combrink
Boitumelo Motene Liam Du Plessis
Motshabi Modukanele Boitumelo Mangena
Leburu Mahumapelo Manamane Maserumule
Totyelwa Nonco Rethabile Motholo
Robert Koch Gillian le Cordeur
Christopher Whittle Sarah Bain
Cameel Chetty Kobus de Wet
Gillian le Cordeur Valerie Pillay
Lucia Khonjelwayo Roberta Govender
Zamaswazi Maphorogo
Roberta Govender Western Cape Committee
Sarah Bain
Valerie Pillay Michel Sauzier – Chairperson
Roxanne Moodley Antonella Da Cunha
Phumlani Dyini
Risk Intelligence Committee Ludwig Geldenhuys
Aaqelah Haq
Christelle Marais – Chairperson Faldie Peters
Walter Ehrlich Anton Schultz
Les Carlo Simon van Wyk
Jonathan Crisp Warren Young
Nicola Comninos Radha Heera
Linda Jaka Claude Hamman
Chandu Kashiram Gillian le Cordeur
Arthur Linke Lucia Khonjelwayo
Wilna Meiring Zamaswazi Maphorogo
Mpho Modisane Roberta Govender
Totyelwa Nonco Valerie Pillay
Pavana Ranjith Roxanne Moodley
Simon van Wyk
Tap van den Berg
Mark Victor
Gillian le Cordeur
Christopher Palm
Valerie Pillay
Kobus de WetIRMSA TEAM
Well before March 2020, the IRMSA Team had all been empowered to be able to work from home
with laptops and with remote access to the IRMSA servers. In March 2020, a risk assessment
was completed of the IRMSA staff, to understand which team members would have the most
risk by coming into the offices, analysing areas such as public transport, exposure at home,
co-morbidities, etc. A rotational schedule was then set up with only 3 to 4 staff members coming
to the IRMSA offices at a time. When South Africa went into Lockdown, IRMSA then instructed all
staff to stay at home and continue work as normal on the digital platforms. Later in the year, the
new IRMSA offices opened, and the staff came back, but again on a rotational basis. The IRMSA
team continues to be present at the office but with only 3 to 4 members of the team present on
a day. The COVID-19 numbers are watched closely, and the rotation basis is assessed weekly
and adjusted accordingly. The safety of the IRMSA Team has been a priority throughout the last
year and will continue to be so.
Due to lockdown restrictions in the previous financial year, IRMSA had put on hold any new
recruitments.
IRMSA bid farewell to Elane Madisha - Finance Manager, Nthabiseng Mdhlozini - Learning and
Development Manager and Zamaswazi Maphorogo – Regional & Public Sector Co-ordinator.
At the beginning of 2021, Claudene Pillay joined the team as Head of Finance and has fitted
extremely well into the financial operations of the Institute as well as with the IRMSA team. In April
2021, her role was formalised as Chief Financial Officer and Chief Operating Officer.
Valerie Pillay has also taken over the regional portfolio as Marketing and Business Development
Manager as we see the importance of ensuring this portfolio is well managed. Thembelihle
Mkhize also changed positions from Finance Administrator and Debtors Assistant to assisting
Roxanne Moodley (Events Manager) as Events Administrator.
IRMSA still strives to empower and grow young people joining the working community and can
assist the current unemployment issue experienced in South Africa, by taking on interns. To play
its part in addressing this risk, the Institute employed an intern, Charmaine Khaisi, in the Learning
and Development department in 2019. She has continued to work with IRMSA throughout 2020
and will continue to do so for the next few months. IRMSA has taken on another intern, who joined
the Membership team in March 2021 - Slondiwe Ngcobo. She is proving to be an asset to IRMSA
and is working well with the team.
The IRMSA Chief Executive Officer, Gillian le Cordeur, also resigned, but has continued as Acting
CEO, to ensure a strong transition period for the incoming CEO. This will ensure that IRMSA has
as little disruption as possible during this time. The new IRMSA CEO will join IRMSA on 1 July 2021.
The IRMSA team continue to be dedicated to the members and the industry.
10The IRMSA Team is as follows:(as at 29 Feb 2021)
1. Gillian le Cordeur, Chief Executive Officer
2. Sarah Bain, Membership and Office Manager
3. Kobus de Wet, Senior Communication and Marketing Co-Ordinator
4. Roberta Govender, Senior Membership Co-Ordinator
5. Charmaine Khaisi, Learning and Development Intern
6. Lucia Khonjelwayo, Executive Assistant
7. Elane Madisha, Finance Manager
8. Zamaswazi Maphorogo, Regional & Public Sector Co-ordinator
9. Ntombifuthi Mashiloane, Receptionist and Membership Administrator
10. Nthabiseng Mdhlozini, Learning and Development Manager
11. Thembelihle Mkhize, Finance Administrator and Debtors Assistant
12. Roxanne Moodley, Events Manager
13. Zandile Nyembe, Senior Training Co-Ordinator
14. Kathleen Osterloh, Executive Committee, Legal and Partners Co-Ordinator
15. Christopher Palm, Chief Risk Advisor
16. Eleanor Parreira, Finance Administrator
17. Claudene Pillay, Head of Finance
18. Valerie Pillay, Marketing Manager
19. Portia Sangweni, Senior Learning and Development Co-Ordinator
20. United Tshwane, Facilities Assistant
11AUDITED FINANCIALS 2020/2021 REVIEW
Members have received notice that the Audited Financial Statements are available on the IRMSA
website.
When IRMSA started planning at the beginning of 2020, the standard budget that is usually
worked on, by the CEO, IRMSA Team and FINCO, was put together. Early in the year, it became
very clear that the COVID pandemic would impact South Africa, and a secondary budget was
created to accommodate a worst-case scenario which could result from the pandemic.
During the lock down period, it became clear that the world of work, as we knew it, was going to
be severely impacted by COVID and IRMSA would be affected by not having physical training
and events. EXCO reverted to the ‘COVID budget’ which was developed with the understanding
of how members, and organisations, would be impacted and how IRMSA would need to adapt to
new ways of working and delivering services to its members.
The COVID Budget was formulated with the following objectives in mind:
• Protect IRMSA staff jobs for the year.
• Digitalise most aspects of IRMSA’s operations and activities to ensure that members could
still derive value from their membership fees.
• Attempt to reduce or freeze Operating Costs and work with service providers to contain costs.
• Attempt to develop new revenue streams.
In the initial budget, a deficit for the year was projected at -R64 658. This budget was
discarded and the COVID Budget was adopted. This budget projected a loss of -R2,375,494.
As with all organisations, IRMSA has persevered through an extremely difficult financial
climate ending on a deficit of R1 300 871 at the end of the IRMSA financial year on 28 February
2021. This loss is therefore R,1074,623 ahead of budget.
The above performance can be attributed to the following:
• Membership income exceeded the COVID budget by R1 522 085 (28%) and was R307 158 (5%)
above the previous year. This indicates the value perceived by members that continued to
support IRMSA even during a tough economic climate.
• Education and Development revenue was R59 149 (7%) below COVID Budget and 17%
below the prior year. However, the exam transition to an online exam platform, allowed IRMSA
to save costs by not having all candidates write exams at the IRMSA exam venues and not
having to provide each candidate with a computer. By moving the exam online, the board
exam costs were reduced by more than half of what was spent in 2019 and led to a positive
margin of R37,664 more than the previous year.
• Technical Income was R321 088 above the COVID budget. Most of the projects were
completed by the Chief Risk Advisor enabling IRMSA to save costs on outsourcing. This
contributed substantially to the cash flow management of IRMSA.
• The IRMSA South Africa Risk Report was well received, and a huge focus was placed on
receiving as many sponsors as possible. The team was able to achieve R180 710 more than
the COVID budget and R178 978 above prior year performance.
12• The Events Department transitioned to an online platform with webinar-based events. Events
income (excluding conference) was R123 302 below the COVID budget and R1 205 537 (69%)
below the prior year. It was evident that IRMSA could not charge members the normal
in-person event attendance fees for online events and all event fees were dramatically
reduced, in line with industry benchmarks.
• The conference was hosted on an online platform in its entirety. Income from conference
was R308 211 (20%) below budget and R3 199 265 below the prior year. However, it was
important to note that IRMSA had a similar amount of people attending the conference as we had
hosted in the previous year’s event at Gallagher Estate.
• The Training Department was heavily impacted by the ongoing lockdown with actual results
being R218,439 below the COVID budget and R4 167 887 lower than the prior year. A huge
exercise was undertaken to convert all training to online learning and e-learning. Again,
IRMSA had to reduce all training fees as the training was no longer hosted in-person.
• Direct expenses were aligned to revenue, with most expenses falling below budget
expectations. This was done through a significant effort from the IRMSA Team.
• Operational expenditure was tightened with actual results being R1,123,339 below the
prior year. It should also be noted that no bonuses were paid out in 2020. COVID relief was
requested for the lease to assist the cash flow of IRMSA, and all providers were liaised with to
see how contracts could be re-negotiated.
• IRMSA signed a new lease with Redefine at the beginning of 2020. Lockdown delayed
IRMSA moving into its new offices until much later in August 2020 and we worked closely with
Redefine to ensure that IRMSA was not severely disrupted. An amount of R203 620 was
capitalized as leasehold improvements. These were costs incurred to renovate the office
premises that exceeded the Tenant Installation Allowance and was incurred by IRMSA.
• Although IRMSA received relief from Redefine, to support IRMSA with lease payments and
improve monthly cash flow, it should also be noted that an audit finding was raised that the
lease expenditure be smoothed over 7 years as per the accounting standard IFRS 16. The
Finance Committee agreed on this finding and an adjustment of an additional R281 688 was
raised as a rental expense.
• The Finance Committee agreed to write off the 2016 and 2017 long outstanding debtors as
this debt has now prescribed and IRMSA will no longer be able to pursue these debtors. The
financial impact amounted to R330 066 increasing our expenses by this amount.
• The auditors have raised concerns on the recoverability of the 2018 and 2019 debtors’ book
which amounts to R752 321 and is included in the Trade Receivables total. These debtors
are being pursued by the attorneys and the management team will work extensively on
ensuring IRMSA are able to recoup a substantial portion of this outstanding debt. The remaining
balance of the 2018 and 2019 debtors will have to be written off at the end the 2022 financial
year and is highlighted as a risk.
• It should be noted that over the past 2 years the controls around debtors collection has
been tightened significantly. There was R27 733 outstanding from the 2021 debtors and R288
233 from the 2020 debtors (1% of the revenue generated in a year where IRMSA achieved its
highest ever revenue).
• Cash levels decreased by R1,310.659 within the financial year and this was to ensure that
IRMSA had cash flow sustainability.When members review the financial statements, they will note the following in the 2020/21 finan-
cial statements:
Financial Year End 28-Feb-21 29-Feb-20 28-Feb-19 28-Feb-18 28-Feb-17
Revenue R14,655,601 R23,155,018 R18,130,578 R14,505,126 R14,077,951
Annual Membership Fees R7,019,767 R6,704,304 R6,142,749 R5,305,011 R4,556,070
Training Income R2,640,739 R6,802,626 R3,318,906 R3,824,321 R3,608,455
Breakfast Income R251,534 R782,866 R614,762 R350,353 R429,902
Education and Develop-
R738,166 R885,593 R363,725 R506,502 R317,426
ment
Risk Report Income R450,710 R271,731 R374,435 R188,093 R88,750
Conference Income R1,270,789 R4,470,154 R4,338,463 R2,595,844 R3,253,861
Technical Support R1,936,088 R2,022,633 R1,247,475 R106,633 0
Operating Expenses R13,441,974 R14,599,053 R13,062,080 R11,204,814 R8,302,063
Surplus/ Deficit (R1,300,871) R590 (R873,361) (R1,221,084) R1,571,397
Cash Position R4,795,262 R6,105,921 R5,798,296 R6,763,063 R8,692,937
In the year to come, the IRMSA Finance and Audit Committee, as well as EXCO, will be carefully
tracking all financial matters to ensure the continued sustainability of the Institute. It has been
agreed that special focus will be given to the following aspects:
• Cashflow is being monitored on an ongoing basis with a cashflow till 28 February 2022 being
presented monthly to the Audit and Finance Committee so as to detect and respond to any
significant impacts to cash generation.
• Key financial drivers are being identified so as to closely monitor performance and indicate
red flags in the organisation, with controls in place to manage the situation should it arise.
• A monthly comparison of revenue performance of the various departments is being
performed against prior year trends (2018-2020). This assists in detecting behaviour trends
that are outside of anticipated results.
• Strong management of revenue drivers and support to the Team in those significant areas.
14MEMBERSHIP
2020 was a year that impacted every one of us, following the Covid Pandemic outbreak. During
that time, IRMSA ensured that the needs of all members were taken care of during each stage
of lockdown and managed to transform each area of business onto digital platforms. Members
were able to engage, network and continue to upskill regardless of the landscape that brought
South Africa to a standstill. IRMSA strived to ensure that the usual benefits that each member
derived from their membership, was not only maintained but was most definitely shifted up a
notch through:
• Events that quickly moved to digital platforms and online events and webinars that were held
frequently to make sure that members were well supported by their institute.
• Board exams converted to an online platform.
• Classroom training converted to online training and e-learning.
• Technical Library enhanced to further support professionals and their organisations.
• Risk Management support for members through the IRMSA Centre of Excellence.
• Forums and platforms provided where members could continue to engage with other
professionals, stakeholders and thought leaders.
• IRMSA always believes in the power of effective communication and was a key focus area
throughout the year to make sure that members remained connected, engaged and up to
speed.
IRMSA’s Executive Committee has committed to supporting members through this uncertain
landscape with these member benefits continuing into 2021. Also, these benefits are further
enhanced with a drive for ‘hybrid’ events, including training, events, and forums where members
will be able to attend in person or stream the event or training of their choice from whichever
region they are situated in.
IRMSA members enjoy numerous benefits at preferential member rates as well as several
complimentary benefits, namely: access to the IRMSA Technical Library, attendance of
digital events and webinars, access to the IRMSA Guideline to Risk Management and use of the
IRMSAcareer portal. IRMSA is meeting the needs of its members and the risk fraternity - making
an impact on the industry.
15Individual Membership
Areas of membership growth for the past year include that of Individual, Associate,
Certified Risk Management Practitioner (CRM Prac) and Certified Risk Management Professional
(CRM Prof) Member levels. There continues to be an increase in Associate Members who would
like to write Board Exam 1, as the Associate Membership level is the entry requirement to write the
exam. The Associate Members who successfully complete the board exam and complete their
work experience logbooks then become Certified Risk Management Practitioners and then begin
their journey, building risk management experience and the necessary competencies to write
Board Exam 2 and become a Certified Risk Management Professional. We were pleased to see
an increase in 2020 with organisations wanting to fill their risk management roles with certified
CRM Pracs and CRM Profs.
CERTIFIED RISK MANAGEMENT
PROFESSIONAL
BOARD EXAM 2 6
FELLOW
5 MEMBER
ASSOCIATE
MEMBER
STUDENT
MEMBER 4
3
1 2 CERTIFIED
RISK MANAGEMENT
PRACTITIONER
BOARD EXAM 1
INDIVIDUAL
MEMBER
16Total number of Members Feb-21 Feb-20 Feb-19 Feb-18 Feb-17 Feb-16 Feb-15 Feb-14 Individual 2736 2701 2349 2378 1957 1329 1073 864 Associate 946 832 719 709 640 417 236 216 Certified Risk Practitioner 96 85 74 44 36 22 0 0 Certified Risk Professional 22 4 5 3 0 0 0 0 Fellow 30 32 35 38 41 50 49 63 Fellow CRM Practitioner 0 1 - - - - - - Fellow CRM Professional 3 2 - - - - - - Retired 33 32 32 34 31 24 21 22 Students 57 55 40 19 14 8 0 0 Total Individual Members 3923 3744 3254 3225 2719 1850 1379 1165 The number of members with the Certified Risk Management Practitioner (CRM Prac) designation continued to grow as these members completed their board exams and logbooks successfully. As at end of February 2021, we have 96 members with this designation. The Certified Risk Management Professional (CRM Prof) member number has grown exponentially over this past year, from 4 to 22, which shows the importance of this designation and how hard our members have worked to reach it. The number of Fellow Cer¬tified Risk Management Practitioner members changed from 1 to 0 as our seasoned member at that level moved up to the level of Fellow Certified Risk Management Professional, bringing that number to 3 members. These members are at the prestigious level of Fellow but have also successfully completed board exam 1 and 2 respectively, along with their logbook of work experience.
The details of members with the above designations are loaded twice a year on the SAQA
National Learn¬ers’ Records Database (NLRD). This means that these members are fully
registered professionals with a pro¬fessional standing in the Risk Management community.
This task was successfully completed in 2020/21 and IRMSA is listed as a ‘green’ Professional
Body - which means IRMSA is working efficiently and comply¬ing with all SAQA requirements.
The designations that are registered with the South African Qualifications Authority (SAQA) are:
• Associate
• Certified Risk Practitioner (CRM Prac)
• Certified Risk Professional (CRM Prof)
• Fellow
The IRMSA Membership Committee continues to look at ways to elevate membership and
continually enhance the Member Value Proposition to make sure that members obtain optimal
benefit from their fees.
Corporate Membership
In 2020, we saw an increase in the uptake of IRMSA Corporate Membership Packages with eleven
taken up. This goes hand in hand with the increase in the number of corporate members joining.
IRMSA has watched how risk management has evolved in Southern Africa and how important
it is for risk professionals to have a strong membership base which promotes a strong Code of
Ethics and other tools of empowerment. At the same time, the need to ensure that organisations
are using risk management at all levels of business has also become imperative.
Members are enjoying the benefits available to them – especially complimentary registrations
to webinar presentations (according to the billing bracket of the corporate member), the 2020
Risk Report and access to the technical support panel among other benefits.
TOTAL NUMBER CORPORATE MEMBERS INVOICED
Year End 21-Feb 20-Feb 19-Feb 18-Feb 17-Feb 16-Feb 15-Feb 14-Feb
Corporate
209 198 184 167 157 136 131 123
Members
18Members are reminded that all employees that work for Corporate Members receive the same benefits as all individual level members (excluding access to the Board Exams for risk management designations) and are therefore encouraged to fully utilise these benefits. Any employee who wishes to become a member in their personal capacity and follow the Risk Management career path to the Board Exams, automatically qualifies for a 20% discount on their membership fees which assists them with the cost thereof. With all membership fees, IRMSA does an annual benchmark with other Professional Bodies to ensure that IRMSA fees are competitive and affordable for members. Each year, IRMSA requests its members to participate and provide necessary valuable feedback, through the Annual Member Survey. We would like to again thank those members that took the time to complete the survey. This information serves to guide the institute on the needs of its members and respond accordingly. We have received great feedback and note that overall members are happy with the member offerings provided by IRMSA. The survey findings also give IRMSA an opportunity to make changes where such are needed. YOUNG PROFESSIONALS The Student Forum continues to provide aspiring risk managers with guidance and information about the profession. The Student Committee, made up of young professionals and previous CIRF interns, come together regularly to share ideas and think of ways to promote risk management as a career of choice for students at universities. The Student Forum website includes stories of achievements from our past interns, as well as career advice and information about the CIRF Intern Programme. Student membership is the start of the professionalisation framework and route into risk management for soon-to-be young professionals. There are no fees for this membership as we want to encourage involvement, networking opportunities and learning platforms without any financial restraints on our students. In 2020, plans were put into place to host Young Professionals (YP) Events and in 2021 we were pleased to host the first ever Young Professionals webinar event, which provided a free online learning and networking experience for our student members and proved to be beneficial to other member levels as well. We have further YP events lined up for the rest of 2021. IRMSA are looking forward to welcoming new Student Members on board to help with growth, learning, networking, and development opportunities for our future risk practitioners on their journey to success within the field. We are also embarking on a realigned strategy to focus more on the needs of students and the repurposing of the committee itself, to ensure objectives are met. University engagements are also underway to create awareness of IRMSA and the risk profession, and the Institute’s student member offerings. In 2020, no internship projects were commenced, through the Cruywagen-IRMSA Risk Foundation (CIRF) due to corporates being unable to host students at their offices because of COVID-19. At this point, we will continue to support our young professionals and students through online mentorship programmes and webinars.
EDUCATION Training The 2020/2021 financial year proved to be a challenging year resulting from the pandemic. The IRMSA Business Continuity Plan was implemented and all classroom training from 18 March 2020 to the end of November 2020 was cancelled. During this time, IRMSA Introduced Online Learning, which has been a great success and allowed more delegates from different provinces, and countries to attend. As the country went to level one lockdown last year, classroom training was re-introduced with all safety measures in place. Two IRMSA Classroom trainings took place, for the first time after many months, at the end of November and the other in December 2020. Overall, 35 Online Virtual Training sessions took place last year in addition to three Classroom Training sessions that were hosted by IRMSA at our training centre in Sandton. IRMSA was able to assist members with over nine bespoke training sessions hosted internally at their organisations, tailored for their specific team’s needs. In the last year, IRMSA was therefore able to train 593 risk professionals and add value to their current roles at various organisations from both the public and private sectors. IRMSA trained members and member organisations in the Western Cape, Northern Cape, Gauteng, Free State, KwaZulu-Natal, Eastern Cape, and Limpopo, as well as in Namibia and Botswana. The Education and Technical Committee review the training programme and the content of each training offered annually. IRMSA opens for new training proposals each year, to allow potential trainers to propose and present new content and ideas. In the last year, the committee gave particular attention and made amendments to the training framework, which led to certain enhancements to the IRMSA training programme. IRMSA continued to build on its relationship with the Institute of Futures Research (IFR) and offer the Futures Thinking Training sessions again. e-Learning was launched in 2020 and sales were recorded from August 2020. Currently four courses are offered using this platform. The Education and Technical Committee continue to review the training offered to ensure that the prod¬ucts we provide address the needs and requirements to keep members informed, knowledgeable and increase their areas of competence. IRMSA would also like to thank our fantastic training facilitators who have empowered so many risk pro¬fessionals and organisations over the last few years through the various training interventions that they have hosted. IRMSA is grateful for their support and the continued collaboration to build stronger training platforms and make an impact on many more risk professionals.
Board Exams
IRMSA’s very first digital exam was hosted on 30 June 2020. We had 33 candidates
participating from all around South Africa as well as Africa - another IRMSA first for our professional
exams, since the professional certification was launched in 2014. We had participants from East
London, Polokwane, Western Cape, Eastern Cape, Swaziland, Namibia, and Botswana to
illustrate the geographical spacing of our members. Members had the opportunity to write their
professional board exams in the comfort of their home or office without compromising
on the standards, integrity, and complexity of the exam. The day was significant as it made
strides in contributing to one of IRMSA’s many firsts in 2020. IRMSA would like to thank the
professionalisation committee and its members for entrusting them with providing viable
solutions in ensuring that members were able to still develop and enhance their professional
status in what can rightfully be deemed a rather challenging year on many fronts. IRMSA will
continue to push the envelope through responsibly in the programmes and solutions that we
provide to ensure that members professional lives continually evolve positively in the year 2021
and beyond.
It was a very proud moment which was also echoed by some of the candidates. The online
exams continued to October and November with more members from regions writing the exam,
including from as far as Portugal for the CRM Prof exam.
IRMSA hosted one exam in 2020 for the completion of the QCTO (Quality Council for Trades
and Occupations) qualification: Occupational Risk Management Practitioner. The QCTO had
to amend their exam policy to allow for EISA (External Integrated Summative Assessment)
learners to sit for online exams, so IRMSA therefore had to defer the planned June exam to
November to allow the EISA learners to take the exam online. This assessment is like Board
Exam 1 and these candidates, who are suc¬cessful in completing the assessment, are awarded the
designation of CRM Prac (Certified Risk Management Practitioner) as well as a qualification
awarded through the QCTO. IRMSA continues as the Assessment Quality Partner (AQP) for both the risk
management qualifications through the QCTO and continues working with the QCTO as well as
tuition providers, to facilitate the External Integrated Summative Assessment (EISA).
In November 2020, The IRMSA Annual Gala Dinner and Awards was held virtually. We
celebrated with 10 CRM Prac (Certified Risk Management Practitioner) graduates, and 16 CRM Prof
(Certified Risk Management Professional) graduates. We now look forward to watching 100
members (90 CRM Pracs and 10 CRM Profs) graduate once they com¬plete their logbooks and panel
interviews to achieve their SAQA (South African Qualifications Authority) registered designations.
21Total
June 2020 October 2020 November 2020
Candidates
(Board Exam 1) (Board Exam 2) (Board Exam 1)
for 2020
Eastern Cape 4 0 5 9
Free State 1 0 1 2
Gauteng 19 7 30 56
KwaZulu-Natal 1 0 3 4
Limpopo 1 0 0 1
Mpumalanga 0 0 1 1
Northern Cape 0 0 1 1
Northwest 0 0 1 1
Western Cape 1 2 7 10
Botswana 2 0 1 3
Lesotho 0 0 1 1
Namibia 2 0 1 3
Swaziland 2 0 1 3
Zimbabwe 0 0 3 3
Portugal 0 1 0 1
QCTO Assessment: EISA
0 0 1 1
1
Total 33 10 57 100MENTORSHIP PROGRAMME
IRMSA has launched a mentorship programme to primarily identify and nurture the potential
of its participants. The programme was established to link seasoned risk professionals with
mentees. The programme is fundamentally established to help improve professionalisation in
the risk management industry and is envisaged to have the following impact:
• Assist members with career enhancement
• Greater insight and exposure to other areas of risk management
• Improved levels of professional success in risk management
The 2020 programme had 14 Mentors and 26 Mentees for six months and the closing
ceremony took place on the 2nd of December 2020. We have had great attendance and
participation overall. IRMSA assists where participants require subject/topic specific details that
may not be their mentor’s area of expertise. The below took place within the six months of the
mentorship programme for both the mentors and mentees:
• Coaches and Mentors of South Africa (COMENSA) - 2 July 202
• CRM Prac & Prof motivational talk- 6 October 2020
• In between we hosted separate check-in sessions with the mentors and mentees as well as
report submission sessions.
23RISK INTELLIGENCE AND COMMUNICATION The highlight for the Risk Intelligence Committee in the 2020/2021 year was the release of the seventh IRMSA South Africa Risk Report. Reflecting on the past year, 2020 has demonstrated the absolute necessity of risk-based decision-making in achieving our strategies, especially when confronting volatile scenarios and global risk impacts. The IRMSA Risk Report: South Africa Risks 2021 unpacks these learnings as well as the competencies we need to be successful risk resilient organisations. The report highlights the integrated strategic risk and resilience mindset. And then, of course, the ability for risk management to get the message across in such a way that we do not have any white elephants in the room anymore - that we package our information in such a way that is meaningful, impactful and has value. The report this year recognises that we cannot just do less of the bad. We must also do more of the good. That is something the edition focusses on. There is a section in the report that talks about the call to action. What is this call to action? How are we going to change the path that we are on? We partnered with the following organisations and associations who have supported the report and we thank them for their continued involvement. The supporters of the 2021 South Africa Risk Report were:
The IRMSA Risk Chats are sent out to the entire database every second week. We shared the Risk Chats on our social media platforms and discussions were sparked. In 2020 we shared twenty-two risk chats which reached over 360 000 individuals. The IRMSA Newsflash is released monthly, and members are kept up to date with all risk management news. In addition, we included a new segment - Conversations with the IRMSA President, where each month the President does a short video interview. This is also added to our YouTube Channel to keep members updated on IRMSA News. The IRMSA Technical Library was accessed by 2 480 Members over the last year. These members accessed the technical library multiple times which resulted in the library being accessed a total of 27 909 times in comparison to 2019 when the library was accessed 17 621 times. IRMSA now uses four social media platforms: • Facebook • LinkedIn • Twitter • YouTube (Newly Added) We have seen good growth on all three social media platforms that we have utilised over the years. The platforms see daily activity and live interaction with our members and stakeholders. Platforms Jun-21 Jun-20 Jun-19 Facebook Followers 2 707 2 021 1 287 LinkedIn Connections 11 904 9 158 5 584 Twitter followers 1 654 1 499 1 335 YouTube Subscribers 237 No Metrics No Metrics IRMSA Database IRMSA has over 16 500 active email addresses in our database. This has seen steady growth over the last year from 15 000 active email addresses in April 2020. IRMSA continues to work closely with its Media Partners: • Cover Magazine • Commercial Risk Africa • FA News • Risk Africa
IRMSA Website
The IRMSA Website provides all the information on membership benefits and requirements,
events, training, board exams and much more. The website has seen over 760 000 accesses
over the last year from the following countries:
1. South Africa
2. United States
3. Zimbabwe
4. Netherlands
5. Finland
6. Austria
7. France
8. Namibia
9. United Kingdom
10. Botswana
Below is an overview of all the countries that have accessed the IRMSA Website over the last year:
26The top 10 viewed pages over the last year include:
1. Membership
2. Digital Events
3. Qualifications
4. 2020 IRMSA Risk Report
5. COVID-19 Notice Board
6. Certified Risk Management Practitioner (CRM Prac)
7. Mentorship Programme
8. Virtual Online Training
9. Technical Library
10. Risk Management Centre of Excellence
Public Relations Interventions
In the last financial year, At That Point (ATP) assisted IRMSA with all IRMSA public relations
interventions, which leans directly on the mandate set from the IRMSA Executive Committee to
be more visible in the public space. We have had 411 clips in comparison to 182 interventions in
the previous year, which have been facilitated by ATP, broken down as follows:
• Print: 56
• Online: 321
• Broadcast (this includes Radio and TV interviews): 34
From these interventions we featured in the following major media houses:
• 702
• EWN
• Radio2000
• Newzroom Africa
• OFM
• Power FM
• Network24
• Business Day
• Bizcommunity
• Cover Magazine
• Citizen
• SABC News
• CNBC
• eNCA
27EVENTS
2020 saw a digital revolution for IRMSA events because of the Covid-19 Pandemic and
nation-wide lock down. IRMSA locked in and was loaded to go live! As we all settled into the new
normal of business unusual, IRMSA took the lead by converting all events, training, and projects
to virtual platforms, where members could continue to participate actively and continue to grow
professionally and personally. In 2020/2021 the IRMSA team successfully hosted 24 digital events
with 5 of those events being Africa specific.
These online events focused on relevant subjects and topics of interests for our members and
were well attended. The Institute continues to see growth in Johannesburg, Durban, and Cape
Town. It is encouraging to see continued traction in the Kwazulu-Natal and Western Cape
regions. There has been substantial growth in the Limpopo and Namibia regions with events
being well attended by members and supported by the regional committees. IRMSA formally
launched the Eastern Cape Committee and hosted an official digital launch event for this region.
IRMSA continues to look for opportunities to grow its footprint and reach members in the various
regions with a focused effort within Africa. The Institute hosted its first Botswana and Zimbabwe
webinars and are in the process of establishing committees within those regions.
The Events Committee, along with members from other committees, met multiple times online
last year, to brainstorm topics, content, and speakers in order to make sure that the Institute
remains relevant and that our members’ needs are met despite the challenges that the
pandemic presented. The Committee and IRMSA Events Team use feedback given by members
at each event to guide the content of all events that are planned going forward. The Events
Team have also launched a Risk Response series to address unexpected topical issues that are
urgent to bring to our members.
The following attendance was noted for the 2020/2021 year:
Year Events Hosted No of Attendees
Breakfasts
2020 March Limpopo Risk Report Launch 71
Webinars
2020 March Covid-19: BCM Webinar 17
April Covid-19 Webinar: What the future looks like Post
2020 32
Covid-19
May CRA Briefing Webinar with Frans Cronje: Covid-19
2020 237
scenarios for SA and the globe
2020 May Morning with Clem 345
May BCM Webinar: Business Continuity Management is not a
2020 454
project; it is a culture
May Namibia Webinar: What Does the Future Look Like Post
2020 68
Covid-19
June Western Cape Webinar: What Does the Future Look Like
2020 113
Post Covid-192020 June IRMSA Annual General Meeting 230
2020 July SA Economics Update Webinar 84
2020 July Namibia Webinar: Public Sector in Namibia 40
2020 July Flight Covid-19: Return of the Risk Horsemen 83
2020 August Women in Risk Webinar 259
August International Risk Management Webinar: Global Risk
2020 133
Management Discussions Beyond Covid-19
December Eastern Cape Webinar: 2020 IRMSA Reflections on
2020 125
the year of Covid-19 in the Eastern Cape
December Botswana Webinar: 2020 IRMSA Reflections on the
2020 59
year of Covid-19 in Botswana
December Zimbabwe Webinar: 2020 IRMSA Reflections on the
2020 79
year of Covid-19 in Zimbabwe
December KZN Webinar: Post Covid-19 | What does this new
2020 147
normal mean for organisations?
December Second Wave Debate Webinar: The Second Wave
2020 Debate: What is your Risk Appetite? Cancel Christmas or keep 183
the economy
January Second Wave Debate Webinar: After the Festive Sea-
2021 299
son
2021 February IRMSA Risk Report Launch 2021 956
Conference & Other Events
2020 June PS CRO Round Table 28
July CRO Round Table: The new look of the Risk Management
2020 34
Professional in the future
September IRMSA Digital Annual Conference: 2020 Vision: See-
2020 455
ing a Risk Intelligent Future
2020 October IRMSA Digital Masterclass: Back to the Future AGAIN 145
2020 November IRMSA Awards: To Risk-finity & beyond 232
2021 February CRO Round Table: The future role of the CRO 78
Total: 4 986IRMSA continues to be supported by its members and would like to thank the sponsors of all the events that took place in 2020/2021. The Institute values these contributions significantly. The 2020 IRMSA theme #RiskActivism – Leading the Journey to a Risk Intelligent Future, was carried through all IRMSA events. Risk Management as we know it is on the move and as a profession, we need to actively ensure that we are ready for the changes that are coming. 2020/2021 brought new challenges, along with the ones we already face and are grappling with – IRMSA and its professionals will be ready to stand up and be heard. This concept is being well received by the membership as well as the media and has become easily identifiable as an IRMSA drive for good governance and strong, ethical, courageous leadership. The IRMSA Digital Annual Conference 2020 was held virtually for the very first time, from the 30th of September – 1st of October 2020, with a virtual exhibition floor as well. Once again, the partnership and support of Marsh as main sponsor, enabled IRMSA’s first virtual conference which saw a total number of 487 delegates online. The programme was broken down into 6 Main Streams per day with 5 presentations within each stream, 6 plenary sessions per day and over 97 thoughts leaders from various sectors and industries.
Each stream had an Africa focused presentation to encompass our African footprint and
membership. Jeremy Maggs was the conference host and joined the IRMSA team at the new
IRMSA offices, to facilitate the conference live from the mock studio that was set up at the
offices. The IRMSA Digital Annual Conference Programme boasted over 97 speakers & thought
leaders from all over South Africa as well as internationally. Notable speakers and highlights were
Herman Mashaba, Justice Malala, Rich Mulholland, Dr Nicholas Crisp and Clem Sunter. Annual
Conference 2020 included an SMME hub offering Small to Medium Enterprises the opportunity to
participate at a nominal fee. The two-day event engaged delegates with various gamification
elements where they were able to earn points for certain things that were done on the app.
The IRMSA Conference Master Class was held on the 2nd of October with the theme: Back
to the Future Again | Lessons learnt from the past, to apply now and in the future. The IRMSA
Master Class 2020 was a platform to learn from those that have managed to get it right and to
develop the skills and tools to navigate organisations and its leadership in these uncertain times.
It showcased the ability to create and maintain a high-quality, coherent, and functional forward
view, and to use the insights arising in useful organisational ways. IRMSA proudly joined forces
with Institute of Futures Research, ABSA, Hulamin and Marsh, to afford our members access to
developing these skills and tools. The IRMSA Masterclass saw 145 online attendees. It was a great
success, with excellent interaction, engagement, and some laughter, and together with the
Annual Conference, delegates were treated to a well-rounded programme over the three days.
Fantastic feedback was received from both attendees and partners.
2020 saw one region-specific event for each of the following regions - Western Cape, KZN,
Namibia, Eastern Cape, Botswana, and Zimbabwe, with the invitation extended nationally for
those that had interests and business within those regions.
At the Master Class, hosted in 2017, IRMSA members had some fun putting together a
theatrical approach to a normal conference day which really made delegates sit up and take note!
IRMSA produced a morning of fun where some of our seasoned risk professionals became the 5
Horsemen, based on the movie “Now you see me. Now you don’t” and the IRMSA Horsemen
became the cast of such. A very creative and fun Master Class became the stage for huge
learning, amazing stories and a new take on risk management and the impact it has on
organisations. 2020 saw a reboot of this 2017 theme and once again invited members to join
the 5 IRMSA Horsemen on “Flight COVID-19” as they reflected on the current COVID-19 Pandemic
and shared the three basic ingredients that result in resilience: strategy, risk management and
business continuity management. This event hosted 83 attendees.
2021 started with an exciting bang – seeing the very first Digital Risk Report launch, digitally
powered by AIG and supported by LexisNexis and Old Mutual Insure. This launch was a
tremendous success with the event attracting 956 attendees nationally and
internationally – the highest number of attendees for any IRMSA event to date. The programme
included Risk Report chapter contributors interviewed by Jeremy Maggs, discussing, and
unpacking key aspects of the report. Members received a link to the 2021 Risk Report eBook during
the launch. The annual Risk Report launch continues to be a highlight and much anticipated
event in the IRMSA calendar.
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