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Risk Management Consulting: Making it Work for You

- January 12, 2017 by Philip Bivens, CSP (View all posts by Philip)

Operational risks are among the most significant dangers companies face. While risk is inherent to any business, there are ways to proactively mitigate and manage them. In this post, I’ll discuss the benefits of partnering with an ICW Group risk management consultant and making it work for you and your business.

Risk Managers vs. Compliance Officers – What’s the Difference?

ICW Group risk management consultants are different than compliance officers (safety directors/managers) that are usually employed by private companies. The internal safety manager may be focused on internal company goals and initiatives such as accident/injury numbers, compliance regulations (federal, state, local, DOT, ISO, etc.), accident investigations and reporting processes. Whereas a risk management consultant’s priorities are identifying, assessing and prioritizing risks. The risk manager then evaluates these components concerning monetary amounts that the organization can expect to lose. A plan of action is then developed that works toward reducing the potential of these losses, thus strengthening the profitability of the company.

Expertise

ICW Group consultants can benefit clients by providing access to a deeper level of expertise than would normally be financially feasible for them to retain in house on a long term basis.  Many ICW Group consultants are viewed as experts in a specific field(s) and as having a wide knowledge of many subjects as they pertain to loss.  There aren’t any additional costs for the services provided by your consultant so feel free to utilize them as much as much as possible.

What You Can Do

When preparing to meet with your consultant, keep in mind the following:

  • Share: The more information you share, the more the consultant will be able to help you.
  • Include: Include personnel within your organization that have the ability/authority to implement changes.  The consultant may provide recommendations as a result of the visit and it’s crucial that these are reviewed by the people that have to ability to implement these recommendations.
  • Discuss: Discuss any additional risks you have and any upcoming changes to your business.

Ultimately, your risk manager has the same goal as you – reduce/eliminate losses and improve your bottom line. For more information about ICW Group safety & risk management services, contact your local Risk Management consultant.

 
  1. Elizabeth Aeschbacher
    January 24th, 2017 at 09:46 | #1

    Good article. It’s a significant distinction and one that, when understood, can really benefit an employer.

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