Unisa students reach global finals in risk management challenge

In an impressive achievement, four students from the College of Economic and Management Sciences (CEMS) at Unisa made it to the top eight finals of the Spencer-RIMS Risk Management Challenge. This accomplishment earns them a place at the RISKWORLD Conference in Chicago, set to take place from 4 to 7 May 2025 under the theme “Engage Today. Embrace Tomorrow.”. Their research on climate risk has put them among the top eight teams worldwide, affording them the opportunity of showcasing their talent on an international stage.

How was this milestone achieved and what does it mean for Unisa and South Africa?

The Risk Management Society (RIMS) stands at the forefront of enabling risk professionals to create a safer, more secure, and sustainable future. The RISKWORLD conference, held annually, is the premier event for risk management professionals, drawing around 12 000 experts and industry leaders from more than 75 countries.

The Spencer-RIMS Risk Management Challenge is a seven-month-long global competition where university teams develop and present a comprehensive risk management report based on a real-world case study. After rigorous evaluations by a panel of expert judges, the top eight teams are selected to present their solutions at the RIMS RISKWORLD conference in Chicago. The top three teams receive cash prizes and global recognition.

The Acting Executive Dean of CEMS, Dr Mantepu MaseTshaba, commended the students for their commitment and outstanding performance in the field of risk management. “Their achievement highlights the exceptional quality of students at Unisa and the robustness of our educational offerings.” She added that competing on a global stage was a remarkable accomplishment, and that CEMS takes great pride in their dedication and innovative approach to risk management.

Dr Suné Maré, lecturer in Risk Management and Insurance in the Department of Finance, Risk Management and Banking at CEMS, also expressed immense pride in the team’s achievement, noting that reaching the top eight out of 61 teams from 16 countries was a significant accomplishment. She highlighted the students' dedication in compiling a comprehensive risk report and their ability to collaborate effectively.

From left: Millicent Mathoho, Kgothatso Phetla, Letta Tsholofelo Matlakala, and Nombuso Fortunate Sibeko

Millicent Mathoho, one of the students from the group of four, said that representing Unisa at the event was both exciting and humbling. She believes their success reflects their hard work, teamwork, and dedication. “I look forward to networking with industry leaders and showcasing our innovative approach to risk management at the conference,” she said.

Kgothatso Phetla explained that the team’s research focused on climate risk in Huntington, West Virginia, assessing the city’s vulnerabilities and proposing strategic solutions. They took a proactive approach, not only identifying risks but also recommending practical measures such as infrastructure upgrades and financial strategies for climate adaptation.

Letta Tsholofelo Matlakala credited Unisa’s open-distance learning model for imbuing her with critical skills such as time management, independent research, and strategic decision-making. She emphasised that these skills were instrumental in navigating the competition. “Applying these skills in the competition has been an invaluable experience,” she said.

The fourth member of the team, Nombuso Fortunate Sibeko, who has a strong interest in fintech and cybersecurity, is particularly eager to explore the latest innovations at the conference. She sees this as an opportunity to gain insights into the integration of cybersecurity within financial systems. “This will be an incredible opportunity to network with global risk professionals and learn about emerging industry trends,” she shared.

Professor Ashley Mutezo, Professor in Finance and Risk Management Banking, added that this milestone demonstrated CEMS’s ability to nurture top-tier talent and to provide a supportive environment for students to excel on global platforms.

Maré encouraged aspiring students to participate in such global opportunities, emphasising that the challenge allowed students to gain real-world experience and grow professionally. “This challenge is open to top-performing undergraduate students studying risk and financial management. It’s a great way to gain experience and build confidence,” she said.

* By Tebogo Mahlaela, Communication and Marketing Specialist, College of Economic and Management Sciences