January 19, 2011, Marietta, Georgia – Independent risk management software company Riskonnect, Inc. announced today the addition of Russell McGuire for the new position of Director, Enterprise Risk Services leading the product direction, implementation and consulting services of the company’s Enterprise Risk Management (ERM) application. Riskonnect continues to grow at a rapid pace, with the addition of top talent within all lines of its risk technology solutions.
“Riskonnect ERM was Riskonnect’s first product, introduced shortly after the company’s inception in July 2007,” commented Bob Morrell, Co-founder and CEO of Riskonnect. “With increasing global demand for Enterprise Risk Management programs among key stakeholders, and the integration of all risk and safety systems, Russell will be instrumental in helping guide the continued development of the application. Russell understands the complexities of risk at the operational level as well as at the strategic level. His expertise and first hand success at managing risk within diverse, global organizations combined with the Riskonnect ERM application will be extremely valuable in helping clients gain increasing value from the maturation of their ERM processes and programs.”
“Riskonnect has proven itself over the last four years to be able to produce effective and innovative solutions to many risk issues, particularly the development of claims management systems,” commented McGuire. “The company has also proven that it has the expertise to organize extremely diverse risk data, primarily risk exposures and loss data, and this expertise will be critical to the ongoing development of Riskonnect ERM where the three states of risk need to be managed – What has happened (e.g. losses), What is happening (e.g. incidents), and What may happen (e.g. Risks). To be part of this continuing development is a once-in-a-lifetime opportunity, and I’m looking forward to working with existing and new clients of Riskonnect.”
ERM is gaining acceptance as a critical component in the strategy of successful organizations. While no two organizations are likely to be at the same level of ERM maturity, they need varying degrees of support for the ERM process. The use of the highly scalable Riskonnect ERM platform provides the essential support system. Each client’s unique configuration allows the client to manage risks at their maturity level and to extend the process as needed. Extending the system is simple and quick – for example, to add a new location can occur immediately, even if there may be different languages and currencies to be used. The inclusion of key risk indicators can be combined with key performance indicators to ensure the organization is managing its risks within its designated risk appetite.
Russell is a proven leader in the insurance and risk management field with more than 25 years experience. He is a member of the Technology Advisory Council and has been a member of the ERM Committee until the expiry of his three-year term at the end of 2011 at Risk and Insurance Management Society (RIMS). His certifications include ARM, ALCM, FANZIF, DipBS, and FIRM. Russell came to Riskonnect from Milliman, Inc. where he served as a Senior Consultant and Product Manager. There, he evaluated and designed Governance, Risk and Compliance (GRC) tools to support Enterprise Risk Management processes for global clients. Russell has worked on risk related projects in more than 25 countries including Great Britain, France, Germany, Italy, North America, and Asia/Pacific. He has also held positions at Alliance Data Systems where he served as Corporate Risk Officer; Risk Labs, a company also founded by Bob Morrell; and Tillinghast-Towers Perrin.