Non-Financial Risks
Language
Safety Financial Reporting
The Numbers Don’t Lie
ROI (Proving Value in Prevention)
The Costs of Damage
Risk Dollarisation®
Create Action
Futuristic Thinking
2. Non-Financial Risks
Language
Safety Financial Reporting
The Numbers Don’t Lie
ROI (Proving Value in Prevention)
The Costs of Damage
Risk Dollarisation®
Create Action
Futuristic Thinking
3. Where everything else is numbers…
Where all the rest of the decisions are
made…
Non-Financial Risks
4. Non-Financial Risk is those items of risk that are not
normally managed in monetary or financially reported:
Operational Risk
Compliance Risk
Conduct Risk
IT Risk
Cyber Risk
Third- Party Risk
Non-Financial Risks
5. The cost incurred by repercussions (effects) of direct environmental
impacts (for example, from the emission of pollutants) such as the
degradation of land or human-made structures and health effects.
In environmental accounting, it is part of the costs borne by
economic agents.
The word “damage” is chosen and used to speak to the commercial/
business/ operational parties of a business whom regularly speak in
these terms for stock and accounts of widgets worldwide.
Damage Costs
8. NO MATTER WHICH LANGUAGE
Dolarização do risco
Dolarización del riesgo
リスクのドル化
Risk Dollarization
Dollarisation des risques
Risico-Dollarisering
风险 货币
Money Talks
13. Improved Economic Outcomes
New Language
Clear, Transparent & Accurate
Marked, Measured & Manage
Lets Commercially focused people understand
Non-Financial Risk
Risk Dollarisation® has positive impacts & results
for all entities including workers and companies.
Financial Approach to Safety
14. Damage Costs…
IMPORTANT NUMBERS
Suitable Duties Medical
Counsellors Investigators
Public Liability Legal
Physio External provider
Common Law Claims Surveillance
Doctors Insurance
28. Connect with us
www.managedamage.com - https://www.linkedin.com/in/jillianlhamilton/
https://www.facebook.com/Managedamage/ - https://www.instagram.com/manage_damage/
Editor's Notes
Once I switched that perception
The dark side
They thought we put money
Cold hard facts many peple think like this
That’s why we say risk….
Pwc Rob Ashley board meeting – how do you get them to listen to you??
Directors piped up skull and cross bones scarf
But I simply said I have them by the hip pocket
I talk in dollars this was back in 2011 when it had to start
My job was on seek about 3 times whilst i worked there!!
Once I switched that perception
The dark side
They thought we put money
Cold hard facts many peple think like this
That’s why we say risk….
Pwc Rob Ashley board meeting – how do you get them to listen to you??
Directors piped up skull and cross bones scarf
But I simply said I have them by the hip pocket
I talk in dollars this was back in 2011 when it had to start
My job was on seek about 3 times whilst i worked there!!
The cost of damage must be relative
The Australian Damage Costs of Workplace Injury and Illness is $61 Billion.
So what?
It only matters if you make it relevant and relatable to facts that people understand and your business.
The number $61 billion is so large that people can not relate to it – so here we present the data against relatable figures that people could understand.
In this example we have related the 61 billion to how much the Australian Federal Government spends on Health, Education and Defence and show just how important this value of Damage is to our country and our economic success.
We do this work for your business when we start.
Linking Risks to Behaviour & Consequence for Better Operational Control
MetricDriver
Current Allocation of RM Costs in your business
Allocate to ensure true value
Assess a company’s Risk portfolio via the cost of damage.
Insurance premiums vs industry standards
Injuring workers is the variable of cost
Secret numers
Dirty laundry
Key is to open up this infomrastion with confidentiality and id the costs and opportunitoes for bsuinesses to improve risk amangement