IoD 2010

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Protect your clients (we are all in the risks business).

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IoD 2010

  1. 1. How to protect your clients? You are all in the managing ‘risks’ business! Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 1 Content • 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 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 2 Sample of clients Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 3 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2009 Risk Frisk Ltd Page 1
  2. 2. Your 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? Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 4 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 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 5 Business Impact INCREASES GOOD QUALITY & FOCUSED RISK PROFIT & MANAGEMENT REDUCES RISK Resources Process Product / Service POOR QUALITY & UNFOCUSED DECREASES RISK MANAGEMENT PROFIT & INCREASES RISK Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 6 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2009 Risk Frisk Ltd Page 2
  3. 3. Challenging 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’ Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 7 There’s cutting corners & …… Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 8 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? Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 9 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2009 Risk Frisk Ltd Page 3
  4. 4. ‘Eye off the ball’? Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 10 HSE & 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 …? Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 11 Directors & ‘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 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 12 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2009 Risk Frisk Ltd Page 4
  5. 5. “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” Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 13 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 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 14 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 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 15 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2009 Risk Frisk Ltd Page 5
  6. 6. Total risk management Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 16 RiskFrisk® & Fleet Risk Profiler™ www.riskfrisk.com www.fleetriskprofiler.com Tel: 0845 456 4136 or 07836 247556 Email: john.stevens@riskfrisk.com or john.stevens@fleetriskprofiler.com Book - “Managing Risk – Book - “Managing Risk – The Health & Safety The Human Resources Contribution” Contribution” Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 17 Questions Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2010 Risk Frisk Ltd IoD Feb 2010 Page 18 Risk Frisk Ltd Risk Frisk® is a registered trade mark. © Copyright 2009 Risk Frisk Ltd Page 6

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