Common Myths Surrounding Risk Management:
What it Really means to Manage Risk….
“We can only do so much; then whatever happens, happens.”
“Don’t be concerned with Enterprise Risk Management (ERM); there is nothing in it that applies to non-financial businesses.”
“It’s hard to find someone who has the expertise to address all risks across the organization. Isn’t that what the CEO and CFO should be doing?”
“Buying insurance manages the risk, doesn’t it?”
If you’ve heard these statements before, you’re not alone. Why is there so much confusion about managing risk? More importantly, what can be done about it?
This webinar is designed to take risk management basics and use them to explain why these statements are incorrect. Getting your colleagues to understand what you’re saying in a manner that is neither threatening nor condescending is not as easy as it seems. Explore different approaches towards reaching a common understanding about what it means to manage risk.
Date: October 11, 2012
Time: 12:00 pm - 1:00 pm EST
This is a 60-minute interactive presentation.
- Demystify common myths about risk management
- Understand what it means to manage risk
- Identify the tangible benefits of ERM
- Overcome resistance/objections
- Common pitfalls/misconceptions
- Learn how to effectively “sell” risk management
This presentation will cover the following topics:
Introduction of the speaker, learning objectives and session outline.
Review the Basics
Remember what you have been trained to do: Identify, Analyze, Measure and Control Risk.
Explain why it is important
In other words, demonstrate what the return on investment will be. Outline how risk management encompasses corporate governance and compliance.
Identify who your audience is
Stakeholders are numerous and are located at every level within an organization. Figure out how the managing of risk affects each stakeholder in a different way.
Determine what message is appropriate
Learn how to construct your “elevator speech.” If you only have a few minutes with a key stakeholder, decide what the most important point is that you want to make.
Decide how and when to deliver your message
Regardless of whether we like it or not, timing and delivery is essential.
Summary of the Key Points
Carole Gates, J.D.
Ms. Gates has over 20 years of experience in risk management and insurance in both public and private sectors of the industry. She obtained her B.Sc. in Business Education at the Valley City State University and her Juris Doctorate degree at the University of North Dakota.
In 2005 Ms. Gates joined the International Air Transport Association (IATA) in Montreal as Director of Risk Management and Insurance. She has represented IATA on the industry’s Aviation Insurance Clauses Group (AICG) in London and serves as an observer to the International Civil Aviation Organization (ICAO) on liability insurance issues affecting the air transport industry. She has developed an aviation insurance and risk management training program and advises several IATA divisions on industry risk management and insurance issues.
Prior to joining IATA, Ms. Gates held various positions including Assistant Attorney General for the Insurance Department of North Dakota, Counsel for the National Association of Insurance Commissioners (NAIC) in Kansas City, Head of State Government Affairs at CIGNA Corporation, as well as Global Compliance Officer at GE Employers Reinsurance Corporation, where she led a team of experts in reviewing, revising and implementing the entity’s regulatory compliance program, based on a Six Sigma approach.