iod 2010
DESCRIPTION
Protect your clients (we are all in the risks business).TRANSCRIPT
Risk Frisk Ltd Risk Frisk® is a registered trade mark. Page 1© Copyright 2009 Risk Frisk Ltd
Risk Frisk Ltd Risk Frisk® is a registered trade mark. Page 1© Copyright 2010 Risk Frisk Ltd IoD Feb 2010
How to protect your clients?
You are all in the managing ‘risks’ business!
Risk Frisk Ltd Risk Frisk® is a registered trade mark. Page 2© Copyright 2010 Risk Frisk Ltd IoD Feb 2010
ContentContent
• No doom & gloom messages
• Timely heads-up on risk
�Strategic, management & operational
• Helping remove your clients’ pain
• Key processes – consistent message
• Consequences are getting tougher
�Money, time, reputation & business survival
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Sample of clientsSample of clients
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Your client questionsYour client questions
• Do they know what risks they face?
• Have they quantified/assessed them?
• Do they have effective proportionate controls?
• Do they learn from experiences?
• Do they prior consider changes?
• Do they have competent advice?
• Can you provide that advice?
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Protecting them from what?Protecting them from what?
• Increasing risks
• Increasing costs
• Reducing efficiency, turnover & profits
• Reducing employee morale
• Increasing employee turnover
• Increasing fines, legal penalties
• Higher insurance claims
• Business failure
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Resources Process
GOOD QUALITY & FOCUSED RISK GOOD QUALITY & FOCUSED RISK
MANAGEMENTMANAGEMENT
INCREASES INCREASES
PROFIT & PROFIT &
REDUCES RISKREDUCES RISK
POOR QUALITY & UNFOCUSED POOR QUALITY & UNFOCUSED
RISK MANAGEMENTRISK MANAGEMENTDECREASES DECREASES
PROFIT &PROFIT &
INCREASES RISKINCREASES RISK
Product / Service
Business ImpactBusiness Impact
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Challenging timesChallenging times
• Most organisations don’t consciously ‘ignore’ risks at the expense of ‘profit’
• But a heavy ‘business’ focus often leads to a de-focus on risks & other controls
• Particularly relevant during difficult times
• Pressure to cut costs
• Pressure to do everything quicker, faster, cheaper, so something has to give?
• Often what is seen as ‘discretionary’ and not
part of ‘the way we do business round here’
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There’s cutting corners & ……There’s cutting corners & ……
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What is actually going on?What is actually going on?
• Do your clients know what is actually going on?
• Would it be what they expect?
• What ‘buttons’ are being pushed now?
• Is risk management a core consistent value and business component?
• Has the business assessed ALL it’s ‘risks’
• Have they considered the risks you can help with?
• Can you help remove their pain?
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‘Eye off the ball’?‘Eye off the ball’?
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HSE & IoD GuidanceHSE & IoD Guidance
• Published over 2 years ago - H&S related, but relevance elsewhere
• Now, still only 40% of directors aware of guidance – less actioned
• Key points re being ‘In control’:
� Demonstrate the board’s commitment to …?
� Appropriate board-level review of …?
� Receive competent advice about …?
� Trained & competent in …?
� Consultation on …?
� Risk assessment and risk controls in place, for …?
� What is happening on the ground, and how do you know about …?
� Regularly information about performance re …?
� Improvement targets and benchmarking performance re …?
� Potential changes discussed/agreed by the board for …?
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Directors & ‘risk’ lawDirectors & ‘risk’ law
• Annual reports have to list risks and controls
• Corporate manslaughter relates to company
• Individual directors still liable
• However, no ‘statutory duties’ re H&S
• But, directors disqualification act could be
broadened
• Sentencing guidelines - new
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“Profit from the Core”“Profit from the Core”
• Different types of companies
� ‘Rocket ships e.g. Google (only 29)
�Value creators e.g. Tesco (242 worldwide; 14 - UK )
• Key advice which sustains the 242:
“Take the time to discover what is the core of your clients (your) business and what is
the core of the core – to discover the ‘crown jewels’ of the business”
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How?How?
• Think beyond the ‘day-to-day’
• Think strategically
• Identify their ‘core’ & ‘core’ within that core
• Identify what their business is actually doing
• Identify how they are creating risks
• Evaluate their current risk controls
• Change and monitor
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Get smarter …..Get smarter …..
• What is really going on and make changes
• Re-communicate about risk management, don’t leave to chance
• Make sure people know it is not discretionary
• Specifically say so from top down
• Be aware of dual messages
• Be aware of ‘easy money’ re ‘losses/accidents’
• React quicker/smarter to losses, show it matters
• Think of ways to achieve the same/more, with less (not less with more)
• Ask their employees for ideas
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Total risk managementTotal risk management
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RiskFrisk® & Fleet Risk Profiler™www.riskfrisk.com
www.fleetriskprofiler.com
Tel: 0845 456 4136 or 07836 247556
Email: [email protected] or [email protected]
Book - “Managing Risk –
The Health & Safety
Contribution”
Book - “Managing Risk –
The Human Resources
Contribution”
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QuestionsQuestions