The Risk Management Institution of Australasia (RMIA) has appointed the Australasian Compliance Institute (ACI) to run its back-office functions from next week.

RMIA’s previous agreement with the Australian and New Zealand Institute of Insurance and Finance ceased last October.

ACI will provide membership services, finance and accounting, web hosting and organisation.

RMIA President Sharon Aitken says the agreement will be subject to ACI achieving key performance indicators to ensure quality.

“We have been able to achieve this with an organisation that shares similar values to us,” she said. “ACI understands the market we operate in and can deliver value to the members RMIA serves.”

ACI MD Martin Tolar says the agreement will generate more money, which will be used to benefit members.