Page 1 Recording of this session via any media type is strictly prohibited. Page 1 Forging a Risk Management Career Path: How Industry Leaders Are Developed

Page 2 Recording of this session via any media type is strictly prohibited. Mark Millard Senior Manager, Ernst & Young, LLP Richard Meyers CEO, Richard Meyers & Associates, Inc. James Hills Risk Finance and Insurance Analyst Wilbur-Ellis Company

Page 3 Recording of this session via any media type is strictly prohibited. What to Expect Review of the historical risk manager’s role Risk manager’s career growth and development (basic to advanced) Overview of technical and intangible tools that make a good risk manager great An appreciation of risk and change as positive tools for competitive advantage

Page 4 Recording of this session via any media type is strictly prohibited. Progression of risk management role Historical/traditional o RM as insurance buyer (financial scope: reduce premium) Progressive o Elements of risk financing and loss control (financial scope: use of risk financing and loss control to lower the total cost of risk) Strategic o Business risk manager – Managing, measuring, advising on insurable and non-insurable risk (financial scope – prudent risk taking – maximizing profit and minimizing losses with good claims and loss control oversight)

Page 5 Recording of this session via any media type is strictly prohibited. Communication – listen and learn Learn the language and the terms o Insurance o Legal / contractual o Financial / investment o Insurance ratings What are the key stakeholders at your company telling you about their view on exposures? How are you responding?

Page 6 Recording of this session via any media type is strictly prohibited. Communication – speak and lead Do you take advantage of opportunities to speak at internal and external presentations? Do you present an overview of your insured and self-insured programs to senior leadership and the Board of Directors Are you the dominant speaker at insurance program renewal or marketing meetings on your risk profile? Could you do it yourself without a broker?

Page 7 Recording of this session via any media type is strictly prohibited. Skillsets – growing into the role Build on what you know Solid risk identification and mitigation skills Insurance program management Claims management Vendor management

Page 8 Recording of this session via any media type is strictly prohibited. Skillsets – growing out of the role Board presentations Merger and acquisition involvement Risk audits / enterprise risk management Risk committee Alternative risk transfer techniques o Risk financing tools o Contractual risk transfer o Loss control

Page 9 Recording of this session via any media type is strictly prohibited. Education Is a CPCU worth the effort Is a JD or MBA worth the cost Specialized certification programs for focused areas (healthcare, construction, claims, captive management, etc.) Professional development courses (RIMS, AMA, ABA, ICCE) Stay educated and connected (conferences, advisory boards, etc.)

Page 10 Recording of this session via any media type is strictly prohibited. Career or stepping stone Grow inside the function Is their room to grow within the function? o Management of insurance team o Officer of the company o Opportunity to assume other functions (safety, environmental, benefits)? Is their room to grow out of the function o CRO, COO, CGC, Treasurer, CFO o Operations

Page 11 Recording of this session via any media type is strictly prohibited. RIMS Growth Model Professional growth model (RIMS) o A matrix of necessary communication, business and strategic management skills reflecting various career stages o Information at: ents/RM_professional_growth_model_brochure.pdf

Page 12 Recording of this session via any media type is strictly prohibited. Top ten tips Create annual achievable stretch goals Build on those goals annually Add a challenge that overlaps business and other uses Take advantage of speaking opportunities Embrace technology Promote yourself creatively Share successes Update your resume periodically Create a benchmarking group with peer companies Get involved with networking opportunities

Page 13 Recording of this session via any media type is strictly prohibited. Additional considerations Be transparent and proactive with communication Establish a risk committee Create a blindside list, rank items by probability and dollar impact. Establish appropriate mitigation plans Create a risk management intranet site Develop a process and control framework and document appropriately

Page 14 Recording of this session via any media type is strictly prohibited. Final thoughts Career development strategies are as important as business strategies Be creative and proactive Look for growth opportunities and demonstrate capabilities for advancement Keep continuing education as a high priority

Page 15 Recording of this session via any media type is strictly prohibited. Questions?