Paychex, Inc., a leading provider of payroll, human
resource, and benefits
outsourcing solutions for small- to medium-sized
businesses, has again earned national recognition for its
superior performance in enterprise risk management by
receiving the first-ever Risk and Insurance Management
Society, Inc. (RIMS) Enterprise Risk Management Award of
Distinction and a silver Alexander Hamilton Award for
excellence in enterprise risk management (ERM).
The RIMS Enterprise Risk Management Award of Distinction was
created to honor organizations that have shown a tremendous
commitment to their enterprise risk management program. Based
on the award judging criteria, which is weighted for value
creation as well as value protection, the Paychex ERM program
demonstrates a strong focus on the organization's strategy
for achieving solid results. According to RIMS, the program
demonstrates how risk management can deliver innovation and
tangible value for an organization.
The Enterprise Risk Management program at Paychex was also
recently recognized with a silver Alexander Hamilton Award
for excellence in enterprise risk management. The awards are
presented annually by Treasury & Risk magazine, a
national business publication. Now in its 16th year, the
awards recognize excellence and innovation in finance and
treasury management at corporations and organizations around
the world. The Mayo Clinic and Toyota Financial Services were
the gold and bronze winners in this category, respectfully.
This marks the sixth consecutive year Paychex has been
recognized with an Alexander Hamilton Award.
"It is a true honor for Paychex to be recognized by these two
organizations," said Frank Fiorille, director of risk
management for Paychex. "It further validates how the
discipline and stewardship of risk management can not only
preserve value, but at the same time, create value for the
company."
The Paychex submissions for the awards detailed the ongoing execution of value creation initiatives influenced or driven by the risk management organization, as well as the development of a risk workshop to disseminate risk management awareness across the organization. To date, nearly 1,200 employees have participated in these workshops, representing almost 10 percent of the company.
About the Risk and Insurance Management Society, Inc.
As the preeminent organization dedicated to advancing the
practice of risk management, RIMS (the Risk and Insurance
Management Society, Inc.) is a global not-for-profit
organization representing more than 3,500 industrial,
service, nonprofit, charitable and government entities
throughout the world. Founded in 1950, RIMS brings
networking, professional development and education
opportunities to its membership of more than 10,000 risk
management professionals who operate in more than 120
countries. For more information on RIMS, visit www.RIMS.org.
About Treasury & Risk
Treasury & Risk magazine is a leading monthly
business publication for senior financial executives.
Treasury & Risk's Alexander Hamilton Summit, now in its 16th
year, recognizes excellence in treasury management and
finance at the nation's top companies and multinationals, and
has served as a benchmarking standard for chronicling the
best practices and evolution of treasury and finance
departments. Over the years, the awards program has
recognized flagship companies such as Cisco, Google,
Honeywell, McDonald's, and Microsoft.
About Paychex
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll,
human resource, and benefits outsourcing solutions for small-
to medium-sized businesses. The company offers
comprehensive payroll services, including payroll processing,
payroll tax administration, and employee pay services,
including direct deposit, check signing, and Readychex®.
Human resource services include 401(k) plan recordkeeping,
section 125 plans, a professional employer organization, time
and attendance solutions, and other administrative services
for business. A variety of business insurance products,
including group health and workers' compensation, are
made available through Paychex Insurance Agency, Inc. Paychex
was founded in 1971. With headquarters in Rochester,
New York, the company has more than 100 offices serving
approximately 564,000 payroll clients nationwide as of May
31, 2011.www.paychex.com.