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Risk Manager of the Year

Do you have aspiration to be recognized for your risk management talents? Learn what top Risk Managers have in common. Judges from seven organizations were involved in assessing and evaluating the Risk Management of the Year 2017 Awards. This prestigious award is given to the dedicated risk managers who has proven and demonstrated their dedication to advance the field of Risk Management. All applicants were judged on ten key criteria. These criteria not only assesses the strength of the candidate but also indirectly assesses maturity and strength of the organization in its ability to identify, manage and mitigate risks.

1.     Establishing and implementing an effective risk management program.
2.     Creating value for the organization by addressing key risks.
3.     Applying innovative tools to advance risk management.
4.     Applying risk financing and risk transfer program to meet the needs of the organization.
5.     Creating internal and external networks enabling effective flow of information for managing risks.
6.     Effective supervision experience to oversee the risk management and insurance functions.
7.     Creating and operating effective and lean risk management program.
8.     Ability to lead operational risk management with expertise in wide range of operational risk categories.
9.     Fostering and promoting advancement of risk management profession.
10. Demonstrated career advancement and focus.  

ERM Governance Inc. is dedicated in provide training, coaching and support to risk professionals and organizations helping them achieve their goals in risk management. 

For 2017 following candidates were recognized with the Risk Manager of the Year award.

Loren Nickle: Google
Loren is a director of business risk and insurance. He has staff of nice and is responsible for Google's 70,000 staff with $89.46 billion. Loren's key achievements involved setting up Google's risk team increasing focus on emerging risks. He truly integrated the risk management at Google by embedding his risk experts within the product teams.

Loren's strategy in managing emerging risk involves focusing on both R&D and Pilot phase involvement to ensure that organization is not caught off guard as the product moves from R&D to pilot to mainstream. He applies risk based resource allocation by varying his team involvement between phases and projects. Nickel and his team is well aware had has identified Cyber Risk as one of the key large scale risks facing its operational and strategic priorities.

Loren's innovative approach to emerging risks is known as "Efficient Frontier" which focuses on maximizing performance of risk management and insurance coverage. Biggest challenge Loren faces at Google is lack of commercially available insurance. He has managed to overcome this hurdle by crating policies and co-creating products with its insurers. Some of the other key solutions created by Loren and his team include creation of authority procedure for handling claims which allows senior management additional insights, roles and responsibilities for claims above a certain dollar value. Key benefit of this approach has been improved settlement authority and timeliness.

Ben Evans is an executive director in the office of risk management and insurance at the University of Pennsylvania. Evans has demonstrated improved safety and had led an insurance cost reduction program benefiting his organization. His portfolio includes creating safety for  24,000 students and more than 52,000 full time employees. His portfolio includes not only looking after University risk but also includes five on campus hospitals. His magical negotiation skills has allowed his organization to maintain its relatively premium despite of increased insurance value, and enhanced additional coverage. In some instances the premium actually has decreased while deductible limits decreased making a huge head win for the University.

He pioneered the Global Activities Registry (GAR) and has actively contributed towards the success of Medical Emergency Response Team (MERT). He believes in teamwork, professional development and working collaboratively. His negotiation skills and shroud ability for tactical and strategic risk management has led him to the path which is unique and very rewarding.

Juliana Keaton: CSXTransportation

Juliana is the director of insurance and business risk management at CSX. Juliana's portfolio included a unique challenge to protect CSX's assets, reputation and  class 1 freight cars. Her experience includes purchasing "Super cat"  - high excess liability policies. With collaboration from her peers she was successful in creating Cantilever Excess Pollution liability policy.  When it came to cyber risk, Juliana was able to grasp the depth of the cyber risk in railroads business which goes far beyond leaking someone's personal information. In fact, avoiding Cyber risk could be more like avoid catastrophic disaster when you think of toxic spillage due to interference and disruption of railroad operations. Juliana moved her risk program through creation of database that would provide real-time information on various policy, coverage as well as capturing costs related to previous incidents.

Scot Schwarting: Whirlpool Corporation

Scot Schwarting is a director of risk management at Whirlpool. On his shoulders he bears the responsibility to manager Whirlpool's risk across 170 countries. His track record is more than excellent as he continues to lower the total cost of risk at Whirlpool.

His process for identifying top 10 organizational risk involves interviewing leaders from various functions to identify, assess and capture risks. He then share this risk profile to the executive finance committee. He is leading project Waterflow which is designed to protect Whirlpool's manufacturing facilities through installation of modern sprinkler systems. His lean risk management approach involves identifying problem, applying quantitative data and addressing issue through series of PDSA. His portfolio of experience goes beyond operational risk management. He has actively participated in mergers & acquisitions as well as advised his organization on key risks such as market risk and price or commodity risk.

Whirlpool Corporation


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