UARM to provide postgraduate risk management education

Vaal Triangle Campus – The Faculty of Economic Sciences and Information Technology on the Vaal Triangle Campus of the North-West University recently introduced a new Unit for Applied Risk Management (UARM) to provide risk management education at postgraduate level aimed at experienced employees across all sectors.

The importance of risk management education cannot be overstated. News stories daily describe the impact of risks that were not adequately identified or addressed. Risk-related news events range from the global financial crisis to potential nuclear meltdown in Japan, to flooding in Mpumalanga, the downing of tools by trade unions and even the latest debacle about the e-tolling system in Gauteng. Unidentified and unresolved risk impacts all aspects of our lives.

The aim of this unit is to play a critical role in empowering employees to better understand and manage risks while also serving as the North-West University’s centre for applied research in risk management.

According to Prof Hermien Zaaiman, who heads the unit, risk management is not only of importance to risk managers. The global financial crisis has made it clear that the focus on risk quantification and modelling is not enough to manage the risks that organisations (including government and public institutions) face. Every member of an organisation’s management team needs to understand his/her own role in the application of risk management principles to enable them to manage and grow the organisation.

The unit will be formally launched at its new venue at the Quest Conference Estate in Vanderbijlpark during June. During this event a symposium, themed ‘Risk and U’, will be presented on topics concerning people and risk. The presenters will include experienced risk professors from the Free University (Vrije Universiteit) in Amsterdam. According to Prof Hermien, the symposium will serve as a platform from where input will be gained from executive and senior management level on their expectations and requirements of the new unit.

The unit will present a course, ‘Essentials of Banking and Financial Risk Management’; in association with the Professional Risk Manager International Association (PRMIA) later this year during which Dr Robert Mark, a recognised leader in the field, will deliver a keynote address.

* Attendance is by invitation. Should you be interested in sending representation from your organisation or would like more information on UARM and what we can do for you, please contact:

Prof Hermien Zaaiman, hermien.zaaiman@nwu.ac.za or Prof Herman van der Merwe, herman.vandermerwe@nwu.ac.za

Prof Hermien Zaaiman heads the Unit for Applied Risk Management at the Vaal Triangle Campus of the North-West University.