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Podcasts: A Year in the Life of the Strategic CRO

Risk & Analytics|Insurance Consulting and Technology|Reinsurance
Risk Culture|Insurer Solutions

August 19, 2019

The insurance industry is facing substantial strategic challenges and increased complexity, which ushers in more risks. We explore how Chief Risk Officers (CROs) can become more strategic and successful amid a heightened risk environment.

Throughout 2019, various Willis Towers Watson experts are contributing to a series of blog posts that address how a CRO can help to bring the enterprise risk management (ERM) efforts of their firm into strategy processes. Listen to the podcasts to hear summaries of what the blog posts cover.

Episode 1: A Year in the Life of the Strategic CRO

Dave Ingram and Mike Wilkinson introduce the blog post series, A Year in the Life of the Strategic CRO, which explores how CROs can become more strategic and successful. Three themes emerged from interviews with more than 20 CROs, CFOs and a CEO:

  1. ERM needs to be business-focused.
  2. Strategy is more than planning and budgeting.
  3. The contributions to strategy should be built around ERM's strengths and weaknesses.

The series will explore these themes and conversations throughout 2019.

Episode 2: First Steps in a Year in the Life of the Strategic CRO

Alice Underwood and Dave Ingram discuss the ERM Strategy Calendar Survey. More than 40 CROs shed light on which of over 30 ERM activities they currently perform, and the timing.

Episode 3: Six Hints for the Strategic CRO

Dave Ingram and Kirsty Leece provide practical suggestions on strategic opportunities, heat maps, organizing risk management, everyday ERM activities, the risk environment, and capital management.

Episode 4: Risk Culture and More for the Strategic CRO

Brian Ingle and Dave Ingram address the three hallmarks of a good risk culture, elevator speeches for strategy meetings, and understanding the risk environment.

Episode 5: Halfway Through a Year in the Life of the Strategic CRO

Dave Ingram, Mark Mennemeyer and Mike Wilkinson share insights from five key areas of ERM: ERM function purpose and mandate, ERM tools and capabilities for success, aspects of the risk environment, importance of risk culture, and the role of ERM in framing insurance strategy development.

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