risk management outsourcing opportunities: enhance your job or risk losing it session code: rmg213...
TRANSCRIPT
Risk Management Outsourcing Opportunities: Enhance Your Job or Risk Losing It
Session Code: RMG213Date: Tuesday, April 17, 2012
Time: 2:15 PM - 3:30 PM
Session Agenda•Introductions•Risk Management & The Economy•Importance of Workforce Planning•Questions & Issues•Overcoming the Fear of Outsourcing•Key Takeaways & Summary
Introductions
Diane Askwyth, CPCUVice President, Risk & InsuranceCaesars Entertainment, Inc.
– 25+ years experience in Property/Casualty insurance, including brokerage and corporate risk management positions
– 12 years as senior risk management officer– Experience designing and implementing Enterprise Risk Management
initiatives– Extensive claims and litigation management experience– MBA and CPCU Designation
Sharon Emek, Ph.D., CICPresident & CEOWork At Home Vintage Employees, LLC
– 30+ years experience in insurance, consulting and management– Formed The Emek Group in 1988 which grew to be one of the largest women
owned insurance agencies in the U.S.– Experience managing 38 agencies on an outsourced basis, utilizing technology to
create the “Virtual Insurance Agency” model– Insurance Entrepreneurial Award (Wahve, 2010)– First woman to receive the Sidney O. Smith Government Affairs Award from the
Independent Insurance Agents & Brokers of America (2007)– Former Board Chair, Independent Insurance Agents & Brokers of New York
Kristina Narvaez, MBAPresident & CEOERM Strategies, LLC
– 18+ years in risk management, insurance and consulting spanning multiple industries including transportation and financial services
– Two time Spencer Education Foundation Graduate Scholar from RIMS– Anita Benedetti Scholarship and Edith F. Lichota Award from RIMS– Experience as a commercial insurance agent including workers compensation,
business commercial package policies and health benefits– Expertise in identifying and evaluating risk exposures and the development
and implementation of risk assessment information systems and ERM programs
Nancy Kelly, SPHRPractice Leader – Human CapitalHanover Stone Partners, LLC
– 25+ years experience in human resources and insurance on a global scale– Experience and expertise in strategy & delivery, compensations & benefits,
employee relations, compliance, training & development, mergers & acquisitions, organizational design & development, performance management, leadership development & succession planning, and executive coaching
– MA, Senior Professional in Human Resources (SPHR) and member of the Society for Human Resource Management & the Association of Professional Insurance Women
• Declining Margins• Reduced Budgets• Reduced Headcount• Reduced Travel• Increasing staff costs• Involvement of Corporate
Procurement• Job Efficiency
Risk Management & The Economy• Evolving workforce• Global Competition for Talent• Brain drain of experienced,
educated and well-connected employees
• Lower level process work completed by highly paid staff
• Employers competing for same labor pool & lack of talent
• Aging of the population with 50% of the insurance industry retiring over next 10 years
• Generational differences (Gen X, Y and Millennial)• Multi-cultural differences• Baby Boomers redefining retirement (“phased”)• Rapid advancement of technology and social networks• Rules & regulations with new legislation often competing and
colliding with existing legislation
Importance of Workforce Planning
Questions & Issues
1) What activities are critical for Risk Management to perform to protect the enterprise? Are Risk Management’s objectives aligned with corporate objectives?
2) Given your departments scope of work, are the right skills available to perform efficiently and effectively? Is the workforce engaged and equipped for the challenge?
3) What is your backup plan if you’re unable to get the resources you need to perform critical work? What’s the impact of assigning senior level professionals to low level work?
4) How can an already stretched department perform an operational review to differentiate high value, critical work from non-critical work?
5) Is there an agreement with management as to the objectives and deliverables of the RM department?
6) Are there accepted criteria for evaluating vendors? If yes, how can you use this information to make the case to outsource some of the non-critical work freeing up staff for more challenging assignments?
7) Where do the opportunities exist for job enhancement and how can employees position themselves to take advantage of these opportunities?
Overcoming the Fear of Outsourcing
Adapted from Gartner, IT Director’s Community of Practice, August 14, 2007
Key Takeaways & Summary
Nancy L. Kelly, SPHR
New York Office260 Madison Avenue, 8th Floor
New York, NY 10016(o) 646-216-2181(c) 646-455-7543
New Jersey OfficeHarborside Financial Center
2500 Plaza 5, 25th FloorJersey City, NJ 07311
(o) 201-309-4830
Practice Leader – Human Capital