Welcome to the Avanguard Risk Management Maturity Assessment.

The assessment is made up of 3 sections: organizational profile, maturity assessment, and key value capture metrics.

The estimated duration of the assessment is 15 to 30 minutes, covering a total of 36 questions.

Please respond to the question based on your organization's current practices and recent data. Where exact data is not available, reasonable estimates will suffice.

ALL INFORMATION PROVIDED WILL BE TREATED WITH STRICT CONFIDENTIALITY AND USED FOR THIS ASSESSMENT OR RESEARCH PURPOSES ONLY IN PARTNERSHIP WITH A UNIVERSITY OR OTHER SIMILAR RESEARCH CENTERS. REFER TO THE AVANGUARD WEBSITE'S TERMS OF USE AND PRIVACY POLICY FOR MORE DETAILS ON AVANGUARD POLICY REGARDING CONFIDENTIALITY.

This is a risk MATURITY assessment, not a risk assessment. The risk maturity assessment may tell, for instance, if your organisation carries out risk assessment or not and the quality of your risk assessment. The maturity assessment will not assess the risks facing your organization.

It is best completed by someone with a broad understanding of the organization (e.g., business owner, board chair, senior executive, finance or risk lead).

After completing the assessment, we will issue a detailed report comprising the following key sections:

 1-Page Executive Summary
 Untapped Value ($ Estimates)
 Risk Management Maturity Score
 Key Risk Management Maturity Gaps
 Action Plan to Close the Gaps and Capture the Untapped Opportunities
 Strategic Implementation Roadmap

The Risk Maturity Score which you will get will be based on the Risk and Insurance Management Society (RIMS) Risk Maturity Model.

The 5 elements or pillars of the RIMS Risk Maturity Model are defined below:

• Pillar 1: Strategic Alignment – The extent to which risk considerations are integrated into strategic decisions and execution.
• Pillar 2: Culture & Accountability – The extent to which risk ownership, competence, and ethical risk-taking are embedded throughout the organization.
• Pillar 3: Risk Capabilities – The organization’s ability to assess, communicate and manage risks effectively.
• Pillar 4: Risk Governance – How accountability and oversight guide risk management to create and protect value.
• Pillar 5: Analytics – The use of technology and analytics to generate, communicate and escalate risk insights.

The 5 tiers of the RIMS Risk Maturity Model are defined below:

• Tier 1 – Ad hoc: Risk governance and organizational structures are largely absent.
• Tier 2 – Initial: Risk governance exists informally but remains fragmented.
• Tier 3 – Repeatable: Formal risk structures, policies and processes are established.
• Tier 4 – Managed: Enterprise Risk Management is coordinated, measurable and integrated into planning.
• Tier 5 – Leadership: Enterprise Risk Management is fully embedded in governance, strategy and decision-making.