SPENCER-RIMS RISK MANAGEMENT CHALLENGE
The Risk Management Challenge is a 6-month-long global competition for students, where university teams compete to develop and present the most comprehensive Risk Management report based on a case study.
This annual case competition is managed by the Spencer Educational Foundation and supported by RIMS (the Risk Management Society) and FM Global.
2024 Risk Management Challenge Statistics:
144 Student Participants
38 University Teams
22 First-Time University Applicants
9 Countries
6 Minority-Serving Institutions (USA)
2024 University Participants:
Ahmadu Bello University | Nigeria
Appalachian State University | USA
Bowling Green State University | USA
Brenau University | USA
Butler University | USA
California State University, Fullerton | USA
Durban University of Technology | South Africa
Eastern Kentucky University | USA
Georgia State University | USA
Howard University | USA
Illinois State University | USA
Institut Interafricain de Formation en Assurance et en Gestion des Entreprises (IFAGE) | Senegal
Institute of Insurance and Risk Management (IIRM) Hyderabad | India
La Salle University | USA
Machakos University | Kenya
Milpark Education | South Africa
Missouri State University | USA
Peking University | China
Saint Joseph's University | USA
St. John's University | USA
St. Mary’s University | USA
Temple University | USA
Troy University | USA
UniMAC | Ghana
University of Cincinnati | USA
University of Colorado Denver | USA
University of Georgia | USA
University of Ghana | Ghana
University of Houston Downtown | USA
University of Illinois at Urbana-Champaign | USA
University of Nairobi | Kenya
University of North Carolina at Charlotte | USA
University of South Africa (UNISA) | South Africa
University of Southern California | USA
University of Texas at Austin | USA
University of Toronto | Canada
University of Wisconsin-Madison | USA
Valparaiso University | USA
What is the Risk Management Challenge?
A six-month-long competition for students, in which university teams compete to develop and present the most comprehensive Risk Management Report based on a company’s case study.
If you are interested in showcasing your skills and knowledge in risk management, discuss this opportunity with a university representative and form a team of 4 undergraduate students.
How does it work?
After receiving the case study, students will conduct a risk analysis and complete a comprehensive risk assessment report. They will be charged with assessing the company's top risks and developing a risk management plan that proposes solutions to address these risks.
A panel of prestigious Risk Management professionals will judge each team's submission and select the top eight scoring teams.
These eight teams will present their findings and solutions at the RIMS 2024 Annual Conference & Exhibition (RISKWORLD) in San Diego, CA, USA. They will also answer live questions from a panel of Risk Management professionals.
The top three teams will be awarded cash prizes and recognized at the Spencer Reception and during the RISKWORLD Conference finale.
What are the benefits of participating?
Real-world risk management experience by analyzing data and developing a program for an actual company
Opportunity to win prize money and represent your school’s risk management program
Connections with industry experts and potential employers
Networking with various risk management practitioners
Recognition on an international stage
2024 RM Challenge Schedule:
Application Period Opens - October 1, 2023
Application Period Closes - October 31, 2023 (Late applications will be considered)
University Teams Receive Case Study - Wednesday, November 1, 2023
Risk Management Report Deadline - Friday, January 12, 2024
Top Eight Teams Notified - Friday, February 2, 2024
Students Develop Presentations - Mid-February to Mid-April 2024
PowerPoint Presentations Due - Friday, April 12, 2024
Preliminary Presentation Round (Top 8 Teams only) - Sunday, May 5, 2024 (In-person at RISKWORLD)
Final Presentation Round (Top 3 Teams only) - Monday, May 6, 2024 (In-person at RISKWORLD)
Winner Announcement - Monday, May 6, 2024 (5:00-7:00pm PT during the Spencer Reception at RISKWORLD)
Any Questions?
For more information about this international student competition, please contact our Director of External Engagement, Tandeka Nomvete, at tandeka@spencered.org or call/text +1 678 559 6928.
Students:
To participate in the RM Challenge, click on the buttons below and complete all three steps.
Risk Manager Volunteers:
Are you a Risk Manager seeking to volunteer/participate in the 2025 case competition? If so, review and complete the below two forms.
2023 RM Challenge Recap
Congratulations to the University of Wisconsin-Madison for achieving first place in the 2023 RM challenge!
The Risk Management Challenge is a 6-month-long competition for students, where university teams compete to develop and present the most comprehensive risk management program based on a company’s case study. In 2023, 24 university teams from across USA, Canada, China, and India entered the competition. Eight of the teams were first-time applicants and five of the universities were Minority Serving Institutions (MSIs). The teams comprised 3-4 undergraduate students and based on the solutions they developed for the case study, the top eight teams were invited to present their strategies at the 2023 RIMS RISKWORLD Conference in Atlanta, GA, USA.
2023 RM Challenge News Articles
Click here to read the RIMS Press Release announcing the 2023 Top 8 University teams.
Click here to read the RIMS Press Release announcing the 2023 winning team.
2023 RM Challenge Photos
Review and download the below pictures from the final round held at 2023 RISKWORLD in Atlanta, GA, USA.
