International Air Transport Association's Risk Management Program
Customer Company Size
Large Corporate
Country
- Worldwide
Product
- RIMS Risk Maturity Model
Tech Stack
- Risk Management Software
Implementation Scale
- Enterprise-wide Deployment
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Aerospace
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
Services
- System Integration
About The Customer
The International Air Transport Association (IATA) is the world's largest trade association for airlines, with more than 240 members, comprising 84% of total air traffic worldwide. IATA serves and represents the airline industry in general, promoting safety, security, reliability, and cooperation. The association has a wide range of global responsibilities, including the development of industry policies on critical aviation issues. IATA's mission is to represent, lead, and serve the airline industry. Its members include major airlines from all over the world, and it is recognized as the voice of the global airline industry.
The Challenge
The International Air Transport Association (IATA) has a wide range of global responsibilities, including promoting safety, security, reliability, and cooperation in the airline industry. To effectively manage these responsibilities, IATA has developed and matured their risk management program since 2006. Initially, the program was aligned with the COSO framework, but as the internal growth of ERM required more comprehensive guidance, IATA adopted additional frameworks, including the RIMS Risk Maturity Model. However, the challenge was to implement a strong foundation for risk assessments that includes a standard methodology, processes, and a system for recording and reporting. This system would be used across the organization in the assessment and classification of risks to achieving business objectives.
The Solution
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.
Operational Impact
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