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Experience. Redefined.

RIM Risk Assessment What is it? Why does it matter to you and your organization? What can you do about it?. Experience. Redefined. Presentation to ARMA Charlotte, NC Chapter May 15, 2008 Edward Nwachi, JD, CRM Manager, Legal Consulting (202) 585-6834 enwachi@huronconsultinggroup.com.

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Experience. Redefined.

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  1. RIM Risk Assessment What is it? Why does it matter to you and your organization? What can you do about it? Experience. Redefined. Presentation to ARMA Charlotte, NC Chapter May 15, 2008 Edward Nwachi, JD, CRM Manager, Legal Consulting (202) 585-6834 enwachi@huronconsultinggroup.com BOSTON CHARLOTTE CHICAGO HOUSTON LOS ANGELES NEW YORK SAN FRANCISCO WASHINGTON D.C.

  2. RIM Risk Assessment Defined Probability + Adverse event + Negative impact = Risk

  3. RIM Risk Assessment Defined • A methodology . . . • . . . for identifying risk factors present in an organization • . . . evaluating probability and severity of potential loss, • . . . and recommending actions required to control risks

  4. RIM Risks: What are we really assessing? • Information Management Risks? • Information risk • Operational risk • Legal risk • Strategic risk

  5. RIM Risks: What are we really assessing? • Consider corporate interests and priorities: • Productivity • Profitability • Aggressive growth • Downsizing • Fighting off competition • Community goodwill • Mergers & Acquisition preparation • Surviving adverse publicity • Advancing/Protecting legal rights • Protecting assets

  6. Why does it matter? • Information risk assessment helps mitigate risks from poor RIM practices • Awareness of corporate risks enables RIM professionals to: • Align with the interests and priorities of the organization • Understand corporate risks that drive the need for good RIM practices • Show how good RIM practices can help mitigate these risks

  7. Why does it matter to you? • Position your RIM program as a strategic asset • Lay a more solid foundation for your RIM initiative • Be a more effective advocate

  8. What can you do? • Know your organization • Assess findings against “best practices” and corporate interests/priorities • Ensure that recommendations are practical and reflect corporate priorities

  9. What can you do? • Know your organization • 10K filings (for publicly traded companies) • AMLaw 100/200 (for law firms) • Pacer, Lexis-Nexis, Westlaw and other legal research tools • Business/Trade journals • General internet research • Internal policies • Personnel interviews • Data/Systems inventory

  10. What can you do? • Assess findings against “best practices” and corporate interests/priorities • “Best practice” is useful but relative • Leverage knowledge of corporate interests/priorities in your analysis

  11. What can you do? • Ensure that recommendations: • Are practical • Leverage your knowledge of the organization • Reflect corporate priorities

  12. Use Cases

  13. Use Cases

  14. Questions?

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