The Risk and Insurance Management Society (RIMS) has established a New Zealand and Pacific Islands chapter after receiving an application from risk professionals in the region.

ASB Bank Risk Management Consultant Teressa Betty will be the inaugural President, with Vector Chief Risk Officer Kate Beddoe taking the Vice-President role.

New Zealand was previously part of the Australasia chapter, formed in 2013.

“Risk management in New Zealand and the surrounding region continues to gain momentum, with business leaders realising our limitless potential to support growth and innovation,” Ms Betty said.

“As an official RIMS chapter, we are excited to build upon what we started as part of RIMS Australasia.”

The society now has 80 chapters, with 66 in the US. It is also represented in Canada, Mexico and Japan.