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Organizational Strategic Decision Making

Join us for a two-day seminar February 13 and 14 where you can learn about this mission critical program

Constantly assessing and mitigating risks can be challenging. While transferring your risks can seem like the end of the story, insurance lacks the specificity needed to address the individual risks of every organization. Therefore, more work is needed in order to close every gap. No one person at any organization can see and address every risk, no matter how skilled or smart they are.

This leaves every district, every organization, vulnerable to many unforseen problems. But through Enterprise Risk Management (ERM) this no longer needs to be the case.

In February 2019, the CSD Pool is hosting a two-day seminar on how to incorporate ERM into your district’s operations. This seminar is a chance to develop a basic understanding of ERM and learn how it can better your organization.
Last year’s seminar, presented by Dorothy Gjerdrum, the Managing Director for Public Risk Practice at Arthur J. Gallagher Insurance, provided participants with a wealth of information.

“ERM can help you be sure that you are paying attention to the right stuff and not wasting time and resources on low-priority risks,” Gjerdrum explains. “When you apply ERM to decision making, you can be sure that you are considering all possible outcomes.”

According to Daniel Siebert of Eagle River Water and Sanitation District, the seminar provided him with a plethora of new ideas to bring back to use in his district.

“We are creating risk registers and incorporating ERM into our operations,” Siebert said. “We have also created a risk management committee to meet monthly and discuss identified risks and their specific treatments.”

Defining ERM

Since risk equates to uncertainty, and an organization must focus on optimizing risk control to achieve their goals, the main purpose of ERM is to distribute the task of risk management.

Most ERM programs utilize a risk manager that acts as a moderator, but unlike traditional risk management, this person does not own every risk. Instead, the risk manager looks to individuals in the organization on all levels to identify potential risks that would go overlooked if left to one person.

This concept is a central part of the seminar, which, according to CSD’s Property Underwriter, Metta Spaeth, provided her with an understanding of how ERM works best with a team.

“Working through a real-world scenario in the break-out session helped me see how the process can be applied every day for all different types of operations, even very small special districts. The presenters were knowledgeable and able to explain the ERM process in a way that was easy to follow,” Spaeth said.

Why ERM?

ERM can drive innovation and progress. It is focused on your mission and objectives. It fosters new value and emboldens improvement. The ERM-savvy leaders explore ramifications with their subject matter experts. Ideally, your organization will allow for a variety of opinions from different departments and levels of management.

However, for those lost in the dark when it comes to the concept of risk management, the upcoming seminar is designed to educate you about ERM. According to Adam Johnsen, CSD Pool’s Safety Management Consultant, attending was a valuable experience that offered him new resources to consider on the job.

“The seminar gave me a better understanding of what ERM actually is and how can implement it going forward,” Johnsen said.
When a team knows the potential dangers it might face it improves the quality of decision making and helps with the allocation of resources. With ERM, an organization is best suited to make a well-informed decision, resulting in stakeholder confidence and trust.

Benefits

ERM is scalable to any size. It will empower your team to optimize for risk. Our seminar will help you plan for the following critical issues:

  • How to achieve organizational objectives
  • Business continuation plan for key personnel
  • Plan for predictable catastrophies
  • Build a positive safety culture
  • Increase your organization’s financial bond rating and lower your borrowing cost

Join us this coming February for our two-day ERM seminar. The cost for CSD Pool members is $50, which includes a continental breakfast and lunch for all attendees on both days.

For more details about the seminar, including coupon codes for the discounted tickets, contact us at csdpool@mcgriff.com. Don’t wait—it’s time to take your risk management strategies to the next level.

https://www.eventbrite.com/e/two-day-organizational-strategic-decision-making-seminar-tickets-48563689302

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