PHILADELPHIA--(BUSINESS WIRE)--
Radian Group Inc. announced today that the company received the 2017 Risk Maturity Model (RMM) award for the third year in a row. The award, presented by RIMS, the risk management society™, highlights organizations with industry-leading enterprise risk management (ERM) programs.
“At Radian, strong emphasis on risk culture is embedded throughout our organization. Our ERM framework provides the foundation upon which we identify, categorize, assess, and manage all risks,” said Derek Brummer, chief risk officer, Radian. “This is our third year being recognized for this award and we are thrilled to once again have the distinction of being the only mortgage insurance provider to be honored.”
A key product of Radian’s risk management program is its comprehensive Lender Segmentation Framework which leverages a variety of risk, return and performance metrics to rank order lenders on a monthly basis. This framework is utilized in all lender-level decisions and as a key input in portfolio management and strategic decisions.
“I am proud to recognize Radian for its leadership and dedication to enterprise risk management,” said Steven Minsky, CEO of LogicManager. “Not only has Radian achieved repeatable, mature, and effective ERM programs, they have taken an integral step to pioneering a better tomorrow.”
This year, only 14 of 505 applicants were honored with the RMM Recognition by achieving the scores needed to demonstrate their implementation of sustainable, repeatable processes that drive business performance.
“Mature ERM competencies are known to deliver incremental value, enhancing organizations’ ability to effectively improve performance by naturally integrating risk management,” said RIMS Vice President of Strategic Initiatives Carol Fox. “Congratulations to all of this year’s RIMS RMM Recognition winners for truly embracing uncertainty and successfully developing coordinated and repeatable risk management approaches.”
ABOUT THE RMM RECOGNITION PROGRAM
The RMM Recognition is an annual distinction with the ultimate goal of enhancing the discipline of ERM. The RMM Recognition Program acknowledges organizations who achieve high levels of ERM maturity, as defined by the RIMS Risk Maturity Model (RMM). Authored by Steven Minsky, CEO of LogicManager, and published by RIMS, the risk management society™, the RMM is both an umbrella framework for enterprise risk management and a free online assessment tool for risk professionals. To take the RMM assessment, visit: www.rims.org/rmm
ABOUT RADIAN
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:
- Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance helps protect lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%.
- Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Green River Capital, Red Bell Real Estate and ValuAmerica. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.
Additional information may be found at www.radian.biz.
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