Risk Managers at Risk: 7 Things You Need To Do To Save Your Company…. And Your Job UPDATE & ASSESSMENT TOOL

#2: Clearly Define and Communicate Your ERM Vision

In the last edition of our article series on how to make ERM more effective, we laid out the typical roles that ERM organizations assume and how those roles can evolve over time. It generated a lot of interest and enthusiasm, especially among ERM professionals who have primarily invested in their organization’s technical and technology development, and not focused as much on defining their larger role within their organizations.

We received multiple inquiries from many of you who agreed with the three stages, but wanted a tool to help assess where you currently stood (especially in relation to your peers), and most importantly, what concrete steps you might take to accelerate your journey in increasing your organization’s effectiveness.

Thank you for your input and we hope we can address these issues. We have developed a brief survey assessment tool for you to gauge your current status and focus on your future priorities. We hope you find it useful, and based on your feedback on this article, we will try to provide similar tools and templates as appropriate in our future articles releases.

To review the prior article, which now includes a link to the assessment survey tool, please click here.

Thanks again for all your feedback and interest. Please keep the feedback and suggestions coming so we can be more effective in working together and learning from each other.

Gary Preysner, CPCU, LSSBB Gary Preysner, CPCU, LSSBB, is the Insurance Enterprise Risk Practice Leader with Strategic Risk Associates and President of The Ironwood Consulting Group. He works with insurance companies across the globe to improve their insurance-specific processes and implement new technologies, while simultaneously strengthening their risk management capabilities. Contact Gary to discuss how he has developed creative and novel solutions to some of the most difficult process and risk challenges that insurance companies face. He can be reached at [email protected].

Steven Strickman is a development partner with Strategic Risk Associates, LLC, as well as a Founding Partner in the Ironwood Consulting Group, LLC, where he specializes in Risk, Operations and Expense Consulting for the Insurance industry. He can be reached at [email protected].

Strategic Risk Associates (SRA) is a technology solution provider and risk management consulting practice serving the Financial Services, Insurance and Technology Industries. SRA's proprietary technology and methodology was designed and built by industry experts to enable clients to navigate risk and drive growth. SRA Watchtower is an intuitive risk intelligence and performance management platform built to continuously inform, enlighten, and empower executives and boards. SRA has helped hundreds of banks effectively navigate through significant risk events since the 2008 financial crisis. Learn more here.