Join Dan Weedin for an in-depth discussion in this video Next steps, part of Protecting Profitability by Reducing Financial Risk.
- Congratulations.…You've put in the time to learn how to be successful…in creating and implementing a robust…risk management program for your business.…Now it's time to discuss next steps.…During this course you learned how to identify exposures,…analyze their potential impact on the organization,…create loss control and financing options…and create a better culture and brand…to boost business growth and wealth…for the company.…
Like we discussed many times throughout the course,…plans rarely fail at the strategy part.…They fail due to lack of implementation and accountability.…Here are my recommendations for what to do next.…First, create a small team that will be responsible…for helping you to implement.…Share this course with them and arm them…with the knowledge and skills to quickly get started.…Second, find experts to help you…in areas you don't have internal expertise.…
Areas might include insurance, IT, human resources,…loss control, legal and accounting.…Third, set timelines, metrics and accountabilities…
- Explain the process of identifying exposures.
- Cite examples of transferring risk.
- Name the tools used for implementation and monitoring risks.
- Define “organizational amnesia” and explain how to prevent it.
- Describe security concerns an organization may have and explain the cybersecurity tools that may be used to mitigate them.
- Identify the benefits of an employee handbook for mitigating risks.
- Explain the various parts of an insurance policy.
- Summarize the importance of a business continuity plan and describe the steps for creating one.