SMRT Corporation has won an international award for its enterprise risk management programme – first time that SMRT has won such an award.
The public transport operator won the Delivering Value through Risk Management award at the Institute of Risk Management (IRM)’s Global Risk Awards 2015 – an international industry award recognising the highest standards of excellence in risk management.
In a media release issued on Wednesday (Feb 25), president and group CEO Desmond Kuek said SMRT was honoured to receive such an award, which was presented to the company last Thursday (Feb 19) in London.
“The rigorous judging process reaffirms that SMRT’s enterprise risk management programme is truly world-class, and delivers superior value for our stakeholders,” he said.
Companies shortlisted for this award were assessed for evidence of sustained revenue enhancement, cost savings or other improvements such as reduced error rates, that can be attributed to a risk management initiative or programme; acknowledgement of the role of risk management as a value-added function within the organisation; and value delivery in the context of an overall risk management programme.
The Global Risk Awards’ judges praised SMRT’s “forensic focus on how risk management could be used to support corporate strategy”.