RTI International - News Release - 11.7.2008

RTI's Enterprise Risk Management Program Earns Gold in Treasury & Risk Magazine's 2008 Alexander Hamilton Awards

Ward Sax and Jennifer MacKethan accept the Gold 2008 Alexander Hamilton Award

RESEARCH TRIANGLE PARK, N.C. -- RTI's enterprise risk management (ERM) program was named Treasury & Risk magazine's 2008 gold winner of the Alexander Hamilton award for enterprise risk management.

The award, which was recently presented at a best practices summit in New York City, recognized RTI’s efforts to systematically identify and address its wide ranging business, financial and operational risks. 

RTI's ERM effort began in 2005 at the direction of RTI’s board of governors and executive leadership team, and was led by Treasurer and Chief Risk Officer Ward Sax and ERM program manager Jennifer MacKethan.

"We are very pleased to receive this award," Sax said. "It represents the measure of professionalism we strived for when we set out to develop a best-practice ERM program for RTI, and our business has been strengthened as a result of these efforts." 

Over the course of nearly two years, Sax and MacKethan worked with people and groups at all levels throughout RTI to develop and refine key risk assessment areas, assess the current state of each risk area, identify gaps in current processes, and implement measures to better manage risks.

"This award represents a significant amount of effort by people at all levels across RTI," MacKethan said. "As such, it truly was an enterprise-wide effort, and I am very proud to have led this team."

Highlights of RTI’s ERM program’s achievements include the following:

• Reviewed, updated and standardized RTI’s policies and supporting procedures
• Standardized and compiled 51 various health and safety plans
• Implemented annual training plans for records retention and health and safety
• Developed and launched an International Travel Tracking Interface
• Upgraded phone systems to enable phones to be used as a company-wide intercom system for efficient emergency communication
• Promoted the designation of a Chief Medical Officer
• Enhanced RTI’s proposal system to include a risk assessment section to notify key risk supervisors early in the bid process of items that may require review.

Other Alexander Hamilton award winners for enterprise risk management were Microsoft Corp. and Paychex Inc., who finished second and third, respectively.