International Air Transport Association's Risk Management Program

To manage the wide range of global responsibilities, IATA developed and matured their risk management program. Initially aligning the program with the COSO framework, IATA later adopted the RIMS Risk Maturity Model to accommodate the internal growth of ERM. Under the leadership of Roy Moseley, Assistant Director of CRM, a strong foundation for risk assessments was implemented. This foundation includes a standard methodology, processes, and a system for recording and reporting. This system is used across the organization in the assessment and classification of risks to achieving business objectives. It also evaluates the effectiveness of existing controls and identifies any additional mitigating actions required by business management. The risk management program also strengthens the organization's business continuity and incident management processes. By integrating these governance areas with one another, added insights are provided that would otherwise be lost across silos.