Radian Group Inc. today announced the company has received the 2016 Risk Maturity Model (RMM) award of distinction. The RMM Recognition is given to organizations achieving high levels of Enterprise Risk Management (ERM) maturity, as defined by the RIMS, the risk management society™, Risk Maturity Model. This marks the company's second annual application and recognition within the program and highlights the superior and successful ERM programs at Radian. "At Radian we have taken the focus on risk management to new levels by leveraging our core expertise in credit risk management supported by our Clayton-Radian combination, and elevating this capability as an important differentiator among mortgage insurance peers," commented Radian Chief Risk Officer Derek Brummer. "We're delighted to be recognized for the second year in a row for the excellence of our Enterprise Risk Management program and as the only mortgage insurance provider to achieve this honor." A key product of Radian's risk management program is its proprietary Mortgage Risk Navigator™ analytics and technology suite. The platform combines cutting-edge mortgage performance modeling, data analytics and business intelligence applications to facilitate pricing and portfolio risk management of Radian's mortgage credit products. Over the past 10 years, thousands of organizations have used the RMM as a tool to assess and improve their risk management programs, ultimately driving results for their businesses. This year, only 14 of 361 applicants were honored with the RMM Recognition accolade by program co-authors, LogicManager and RIMS. Commenting on the RMM Recognition Program, Steven Minsky, Chief Executive Officer of LogicManager said, "The RMM enables organizations to evaluate the effectiveness of their risk management programs to avoid surprises and achieve their goals with confidence. Organizations recognized as RMM leaders are an inspiration for others that moves the discipline of ERM forward." Added RMM Program co-author, Carol Fox, Vice President of Strategic Initiatives at RIMS, "The organizations that receive the RMM Recognition are models of value-adding and repeatable enterprise risk management competencies. Their risk management and leadership teams show a commitment to continuous improvement that is commendable. We at RIMS are pleased to highlight their achievements in this way."
ABOUT LOGICMANAGERLogicManager is the leading provider of enterprise risk management solutions, and has enabled thousands of organizations to Manage Tomorrow's Surprises Today® by maximizing the value of their ERM programs. With robust software, a flexible SaaS platform, and top-rated customer support, LogicManager builds engagement and connects traditional governance, risk, and compliance activities to identify root-cause risks across the enterprise. For more information about LogicManager, visit http://www.logicmanager.com. ABOUT RIMS As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society's world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org. 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 protects 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.