Risk governance often feels like herding cats—balancing loud outliers with the needs of the majority. This post explores how risk professionals can maintain strategic focus, embrace empathy, and govern with consensus at the center.
Risk is an equal partner to safety in operational risk governance. The totality of our risk is a dynamic equation of respect for our risk partners, trust in our collective operational goals and the equality of inclusion in our best practices. Safety is a risk journey whose opportunities for improvement make us stronger as we problem solve as a team, instilling the importance of mutually beneficial partnerships. We all bring our life experiences, strengths and weaknesses to our team dynamics. This webinar will focus on a multidisciplinary approach to risk and safety, providing foundations for risk resiliency and strategic thinking by learning to appreciate the tribulations that occur and to capitalize on them for our risk resiliency success.
Risk mitigation involves trust in governance – trust from your risk partners that an issue is universally reviewed in fairness with integrity and will be managed with those same qualities. What happens when an issue is shrouded in misinformation or subterfuge? What happens when you rely on information provided that is not what it appears to be. This session focuses on managing the integrity of risk and its governance and learning how to let go of what you can’t control.
Public risk management relies on the practice of good fiscal governance. Tax dollars and government subsidies finance community services and resources. One might argue these resources are finite each calendar year and dependent upon a budget that allocates money for your risk programming.
Operational risk is the risk of loss that generically results from failed internal processes, a lack of preparedness in governance, unforeseen external events, criminality, and/or a disconnect from community. The risks we manage are a continuous multidimensional review of the totality of our risk existence. They require us to constantly be aware of our surroundings and the processes that make our risk governance effective and viable.
When I first began my career in risk management, my new boss told me that the credentials after my name were impressive, but the legal experience behind them was lacking. My boss explained to me that I would be working under the direction of outside legal counsel who needed to teach me how best to defend my entity in documenting a claim file as directed.
Effective risk-legal-claims relationships drive insurability and fiscal responsibility
A risk kerfuffle is a commotion or fuss that occurs when an individual becomes politically motivated to question the reality of checks and balances...
My lifetime experience is risk. Now that I have my own risk consulting firm, I’m asked what exactly it is that I do. When I introduce myself, I often get a perplexed stare. Risk…um…what? It’s a delight to embrace that perplexity and a wonderful challenge. So, it’s like this….
Risk professionals navigate the complexities of governance, facing perfect storms during leadership changes. Public-private partnerships demand respect, transparency, and accountability. Unicorns symbolize false promises, challenging good governance. Adversity tests risk managers, relying on competence, character, and consistency. In the dance of storms, embracing new horizons ensures stability and positive change, one step at a time.
Community special events provide unique opportunities for public engagement, local economy boosting, and wide-scale publicity. Effective organization and management depend on collaboration between the government and private sectors. A meticulously planned event can offer businesses promotion opportunities. However, the success hinges on efficient communication, risk assessment, and mitigation. They not only attract diverse populace and potentially new ventures but also increase the community’s risk profile, requiring careful planning and management.
Safety Committees are successful when members are patient, communicate effectively, and work together respectfully. The goal is to solve problems and reach consensus, often navigating political and community-related complexities. The key to success in risk and safety management includes equality in decision-making. Achieving consensus sometimes requires ingenuity, even using cookies and lollipops to ease tension. Facing adversities presents opportunities for improvement and growth. Encouraging an environment of camaraderie, self-confidence, and requirement, where members feel equally integral, fosters a reliable and robust Safety Committee.
The Public Risk Management Association discusses the importance of governance and grace in risk management. Highlighting the negative impact of electronic communication and social media, it emphasizes the necessity of human interaction for better understanding of nuanced issues. The blog also reminds professionals to appreciate different viewpoints, stressing that good leadership often involves agreeing to disagree. In their view, the road to positive governance may be harder than a simple keystroke, but it’s a necessary journey.