Skip to main content

Risk Manager of the Year



Do you have aspiration to be recognized for your risk management talents? Learn what top Risk Managers have in common. Judges from seven organizations were involved in assessing and evaluating the Risk Management of the Year 2017 Awards. This prestigious award is given to the dedicated risk managers who has proven and demonstrated their dedication to advance the field of Risk Management. All applicants were judged on ten key criteria. These criteria not only assesses the strength of the candidate but also indirectly assesses maturity and strength of the organization in its ability to identify, manage and mitigate risks.


1.     Establishing and implementing an effective risk management program.
2.     Creating value for the organization by addressing key risks.
3.     Applying innovative tools to advance risk management.
4.     Applying risk financing and risk transfer program to meet the needs of the organization.
5.     Creating internal and external networks enabling effective flow of information for managing risks.
6.     Effective supervision experience to oversee the risk management and insurance functions.
7.     Creating and operating effective and lean risk management program.
8.     Ability to lead operational risk management with expertise in wide range of operational risk categories.
9.     Fostering and promoting advancement of risk management profession.
10. Demonstrated career advancement and focus.  

ERM Governance Inc. is dedicated in provide training, coaching and support to risk professionals and organizations helping them achieve their goals in risk management. 

For 2017 following candidates were recognized with the Risk Manager of the Year award.

Loren Nickle: Google
Loren is a director of business risk and insurance. He has staff of nice and is responsible for Google's 70,000 staff with $89.46 billion. Loren's key achievements involved setting up Google's risk team increasing focus on emerging risks. He truly integrated the risk management at Google by embedding his risk experts within the product teams.

Loren's strategy in managing emerging risk involves focusing on both R&D and Pilot phase involvement to ensure that organization is not caught off guard as the product moves from R&D to pilot to mainstream. He applies risk based resource allocation by varying his team involvement between phases and projects. Nickel and his team is well aware had has identified Cyber Risk as one of the key large scale risks facing its operational and strategic priorities.

Loren's innovative approach to emerging risks is known as "Efficient Frontier" which focuses on maximizing performance of risk management and insurance coverage. Biggest challenge Loren faces at Google is lack of commercially available insurance. He has managed to overcome this hurdle by crating policies and co-creating products with its insurers. Some of the other key solutions created by Loren and his team include creation of authority procedure for handling claims which allows senior management additional insights, roles and responsibilities for claims above a certain dollar value. Key benefit of this approach has been improved settlement authority and timeliness.




Ben Evans is an executive director in the office of risk management and insurance at the University of Pennsylvania. Evans has demonstrated improved safety and had led an insurance cost reduction program benefiting his organization. His portfolio includes creating safety for  24,000 students and more than 52,000 full time employees. His portfolio includes not only looking after University risk but also includes five on campus hospitals. His magical negotiation skills has allowed his organization to maintain its relatively premium despite of increased insurance value, and enhanced additional coverage. In some instances the premium actually has decreased while deductible limits decreased making a huge head win for the University.

He pioneered the Global Activities Registry (GAR) and has actively contributed towards the success of Medical Emergency Response Team (MERT). He believes in teamwork, professional development and working collaboratively. His negotiation skills and shroud ability for tactical and strategic risk management has led him to the path which is unique and very rewarding.




Juliana Keaton: CSXTransportation

Juliana is the director of insurance and business risk management at CSX. Juliana's portfolio included a unique challenge to protect CSX's assets, reputation and  class 1 freight cars. Her experience includes purchasing "Super cat"  - high excess liability policies. With collaboration from her peers she was successful in creating Cantilever Excess Pollution liability policy.  When it came to cyber risk, Juliana was able to grasp the depth of the cyber risk in railroads business which goes far beyond leaking someone's personal information. In fact, avoiding Cyber risk could be more like avoid catastrophic disaster when you think of toxic spillage due to interference and disruption of railroad operations. Juliana moved her risk program through creation of database that would provide real-time information on various policy, coverage as well as capturing costs related to previous incidents.



Scot Schwarting: Whirlpool Corporation

Scot Schwarting is a director of risk management at Whirlpool. On his shoulders he bears the responsibility to manager Whirlpool's risk across 170 countries. His track record is more than excellent as he continues to lower the total cost of risk at Whirlpool.

His process for identifying top 10 organizational risk involves interviewing leaders from various functions to identify, assess and capture risks. He then share this risk profile to the executive finance committee. He is leading project Waterflow which is designed to protect Whirlpool's manufacturing facilities through installation of modern sprinkler systems. His lean risk management approach involves identifying problem, applying quantitative data and addressing issue through series of PDSA. His portfolio of experience goes beyond operational risk management. He has actively participated in mergers & acquisitions as well as advised his organization on key risks such as market risk and price or commodity risk.


Reference:
RIMS
Whirlpool Corporation
CSXTransportation

Comments

Popular posts from this blog

Selecting Board of Directors: What best practices organizations should adopt when selecting and assessing board of directors!

Selecting Board of Directors: What best practices organizations should adopt when selecting and assessing board of directors!
The Board of Directors are vital for any organization’s good governance. Governance determines how an organization is centered and where it stands. “The Boards of Directors are a group of individuals within an organization that are either elected or appointed as representatives of Shareholders or Owners to establish Corporate Governance and enterprise risk management policies”. (Source: ERMGovernance.com) It is given that for an organization to be successful, it should have a Board of Directors (BOD) with a broad mix of skills to oversee the wide range of issues that may arise. The BOD are collectively or in rare cases even individually accountable for your company’s performance, compliance and risk mitigation strategies. Depending on the size of the company and needs, the Board could be limited to just advisory role or fully mandated having the ultimate power a…

Operational Risk Management and Compliance Management in Emergency Department

Client Question Hi,
We recently underwent an Accreditation Canada visit and were cited for not using 2 patient identifiers. The nurse picked up the patient in the ED and she was familiar with the patient and neglected to check her name and DOB. Patient identifiers is something that we have been struggling with for the past two accreditations. We thought we had it all well in hand but it only takes one incident to get cited on failing the ROP. Does anyone have a process or audit tools that are used routinely to audit staff using 2 patient identifiers? Any help would be greatly appreciated. Thank you 
Response
In order to comply with the required organizational practices (ROPs), we first need to have a closer look at it. ROPs in this case are the standards that the organization is being held against and must meet. So lets understand what does the ROP actually require. Following is a statement from one of the ROPs that relate to the question at hand. On an average Accreditation Canada ha…

ERM Workshop | Calgary | May 24-25, 2017

Join us in Calgary

Join us for this two-day interactive session where you can engage with your peers and colleagues in putting the theory of ERM into practice with instructors that designed and built their own successful and mature ERM Programs. This workshop is designed to help participants in building and practicing their skills in managing risk and running/contributing towards an integrated ERM program.
As a decision maker (e.g. integrated risk manager, accountant, operations manager, communications leader, security advisor, health and safety leader, and insurance broker) that needs to better understand their organizations/clients inherent and residual risks in order to better the organizations and clients success, you would immensely benefit from with workshop.
The key areas covered will include:
·Introduction to risk management standard (ISO 31000 Standard) and change management. Understanding how to apply the ISO 31000 standard in your own organization and some key tools that can …