cuyahoga county public policy fellowship...

Cuyahoga County Public Policy Fellowship Program

Seminar

Michael Milano

Law Department: Risk Management

Risk Management

Risk Management - Definition

Risk Management is defined as the systematic way of ensuring protection of business

resources and income against losses so that the goals and vision of the business can be

reached.

What is theRisk Assessment Process?

• Byproduct of my initial assignment

• Based on COSO Enterprise Risk Management

• Purpose: policies and procedures for County

– Identify Risks

– Assess Risks

– Respond to Risks

Risk Assessment Process

• A risk = an event with a negative impact

• Negative impact = anything that would impede County objectives

• County objectives = continued operations, and ability to grow

Risk Assessment Process

Risk Identification

Risk Assessment

Risk Response

Monitoring

• Physical list• Methods

• surveys• discussions• staff reporting

Risk Assessment Process

Risk Identification

Risk Assessment

Risk Response

Monitoring

Mock Scenario

Objectives: Continued household operations

Primary activity: cooking dinner

Risk Assessment Process

Risk Identification

Risk Assessment

Risk Response

Monitoring

Mock Scenario

• Fire hazard• Cutting self with knife• Not making enough food• No containers/space for leftovers• Not having a working fridge

• Damaging pan• Over cooking• Under cooking• Serving allergic • No ingredients

Risk Assessment Process

Risk Identification

Risk Assessment

Risk Response

Monitoring

• Ranking and prioritizing identified risks• Frequency• Severity

• Analyze• Causes, effects, and current controls

Risk Assessment Process

Risk Identification

Risk Assessment

Risk Response

Monitoring

• Mitigation Policies• Risk Reduction• Risk Elimination• Risk Transfer• Risk Acceptance

Risk Assessment Process

Risk Identification

Risk Assessment

Risk Response

Monitoring

• Accounting for identified risks• Evaluating implemented recommendations• Evaluating and enforcing Risk Assessment Process• Data Collection

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet

• Meet the team• Intro to Risk

Management• Intro to

Assessment

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet

• Administrative matters• Identify areas of risk• Obtain past data

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet

• Fireman’s Fund• Current Datacenter• Review of bid drawings

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet

• All types of IT contracts• Provisions

• Indemnification• Insurance• Limitations of Liability• Warranties

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet

• Site visit and questions• causes, effects, current controls

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet

• Organize and communicate• Risk Responses

IT Assessment

• Introductory meeting

• Questionnaire

• Walk-thru

• Contract list

• Follow ups

• Report

• Scoring Sheet • Rank and prioritize

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