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Oct 13, 2020

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.


In this episode, Justin is excited to be joined by James Lam, who is credited as being the very first professional Chief Risk Officer! He is joining Justin to discuss Enterprise Risk Management ahead of his keynote at the RIMS ERM Conference 2020 on November 5th.


James is an early advocate of ERM and is the founder and President of his firm, James Lam & Associates. He is also the author of two bestselling books on the topic of ERM and has been published and quoted in over 200 articles.


In Justin and James’ conversation today, they discuss James’ career in ERM, his overall view of the industry, the changes in the risk profession space, and what he sees on the horizon for ERM. He also shares a small preview of what he has in store for his keynote at the RIMS ERM Conference!


Key Takeaways:

[:01] About RIMS’ Transitional Membership.

[:26] About today’s episode.

[:44] Current RIMS features, offerings, and events.

[1:44] More about today’s episode with special guest, James Lam.

[2:10] Justin welcomes James Lam to RIMScast.

[2:24] James provides a brief history of his career in ERM and shares about what he’s doing now with his firm, James Lam & Associates.

[3:55] Would James say he has a 360-degree view of the industry?

[4:28] James shares some success stories regarding risk professionals serving on boards that are sure to inspire the RIMScast audience!

[7:45] James speaks about his time as a member of the COSO ERM Advisory Group and the changes from 2004 to the 2017 version that had his contributions.

[10:15] In a professional setting when James has to write something critical, how does he keep it respectful?

[13:33] What changes does James feel moved the practice of risk management — and possibly the profession itself — further into the 21st century?

[15:54] Where does James see the future of ERM headed? Where does he believe it should go?

[16:49] James shares a small preview of what he has in store for his keynote at the RIMS ERM Conference.

[18:25] Does James feel that what he is saying is being reflected in the educational material that is currently going out to students in universities (i.e. the next generation of risk professionals)?

[19:46] Does James dislike heat maps now?

[22:42] Justin thanks James Lam for joining RIMScast and shares some of the important links to check out in today’s show notes!


Mentioned in this Episode:

RIMS ERM Conference 2020 — Register Today! — Save 10% off registration with the code: RIMSCASTLIVE2020

Upcoming RIMS Webinars

RIMS Advisory Services — Ask a Peer

On-Demand Webinars

RIMS Coronavirus Information Center

RIMS Advocacy: Coronavirus Advocacy Information

RM Magazine

Risk Management Monitor

New Audio Series: RIMS Risk Leaders

RIMS-Certified Risk Management Professional (RIMS-CRMP)


RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

Download any episode of RIMScast.

Related RIMScast Episodes:

“How ERM Can Catalyze (Y)our World with Dr. Andrea Bonime-Blanc”

“The Future of ERM with ERM Conference Keynote Speaker, Dr. Andrea Bonime-Blanc”

“ERM in Shanghai, China with Robert Zhang, IKEA China Risk Management & Compliance Director”

“Monica Merrifield on Innovation and Strategic Risk Management”

“The Intersection of ERM and Corporate Culture with Gretchen Anderson”


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Follow up with Our Guest:

James Lam’s Website

James Lam’s LinkedIn