SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT006/V-4 7 Habits...SEVEN HABITS OF...
Transcript of SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT006/V-4 7 Habits...SEVEN HABITS OF...
SEVEN HABITS OF HIGHLY EFFECTIVE RISK PROFESSIONALS
(TLT 032 and TLT 006)
Speakers: Steve Sachs, Director, Real Estate, Hotel and Gaming Practice, Willis Group
Tim Kraft, Risk Management Consultant
Learning Objectives
At the end of this session, you will: • Relate how Steven Covey’s highly effective “Seven Habits” are
fully transferrable to our duties as Risk Professionals
– Not surprisingly, success as a Risk Professional is tied to how we manage ourselves, our priorities and our relationships within our companies to create the “win/win” solution!
Speakers
• Steve Sachs – 40 plus years of risk management, brokerage, and underwriting experience – 30 years as Risk Manager for publicly traded real estate owner/developer of shopping malls,
new towns, and mixed use properties (The Rouse Company) – Co-Founder of RIMS Real Estate Industry Session – 10 years as Director on Bank Board; Chaired Audit and Governance Committees – Risk and Insurance Real Estate Power Broker – 2006 – Legacy Leadership Award – Leadership Howard County – 2011 – Howard County Chamber of Commerce Business Person of the Year – 2005/06 – Executive Vice President, Director – Willis Real Estate, Hotel, and Gaming Practice
• Tim Kraft – 26 years brokerage and risk management consulting experience – Practical leadership experience gained through U.S. Naval Academy and as a USMC
Infantry officer – Early career: Direct sales as rep for Factory Mutual company selling to Fortune 1000 clients;
managed teams of 12+ professionals – Past 15 years: Consultant specializing in construction insurance administration (OCIP) and
real estate risk management (development & property management); managing team of 7+ professionals
Stephen Covey – Seven Habits
• Seven Habits of Highly Effective People • Wildly successful book of wisdom
– 25 million copies worldwide since publication in 1989
• Stresses the “Character Ethic” – Align values with “universal and timeless” principles
• Manifested in 7 habits: 1. Be Proactive 2. Begin with the end in mind 3. Put first things first 4. Think “win/win” 5. Seek first to understand, then to be understood 6. Synergize 7. Sharpen the saw
Great News!
• Risk Management is not rocket science – it’s all about
LEADERSHIP
• Apply Covey’s Seven Habits and you’ll be a hit!
P.S. Don’t forget to personalize them.
Habit #1: Be Proactive
• Own the Risk Management discipline within our company – Anticipate needs and problems – Know your company’s business – Know where to find solutions
• We must always look to the horizon! • Be seen as a problem solver
– Address both “pure” and “dynamic” risk
Habit #2: Begin With The End In Mind
• Move the needle! • Results matter – NOT activities
– Results need to be aligned with company goals
• 3 Legged Stool - drivers for continuous success
1. Established standards for success 2. Accountabilities 3. Measurement metrics to confirm results
Habit # 3 Put First Things First
• Understand and relish the role we play – WE are Risk Busters!
• In simple terms, 2 focuses:
1. Process – Consistent way to conduct our business
2. Problems
– Problems are opportunities to excel – Fixing problems is why they pay us the big bucks
Habit #4 Think “Win/Win”
Before we can create a winning solution ……
• We MUST understand our company’s strategic objectives – Short and long term goals – Constraints – Values
• Connect with leaders at all levels – We align with their objectives – We speak their language (including metrics) – We communicate in ways they want to see data and make decisions
And then……
• We deliver solutions that impact results!
Habit #5 Seek First To Understand, Then To Be Understood
• Give up control to gain control!
• The process always starts with us actively listening to our constituents
• NETSIL is “Listen” spelled backwards
WE listen to THEM first,
THEN WE respond
Habit #6 Synergize
• We’re leaders – we must act like one!
• We don’t have to know “everything”, but …....
• We are expected to be able to find the answers
• Coordinate resources to meet the company’s objectives
– Constituents • Fellow risk managers • Broker (s) • Internet
Be Passionate! Lead from the front! Make it fun!
Habit #7 Sharpen The Saw
• Always ask questions • Continued education
– Within our discipline – Business and leadership
• Push people up!
– Empower our teams – Reward them with praise and recognition
Questions?
Contact Information: • Steve Sachs
– [email protected] – 410-209-0712 (M) – 410-5845-8935 (W)
• Time Kraft – [email protected] – 813-767-8323
Thank you for attending! Now go forth……
Be the “Go To” Ambassador for Risk Management in your company!