Live from the ERM Conference in Boston!

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   The RIMS ERM Conference 2024 in Boston featured a stellar lineup of risk thought leaders who shared their experiences applying ERM practices to align risk management with strategy and showcase the value of more risk-aware corporate cultures. At the Conference, Justin spoke with two leading ERM practitioners in different primary areas to provide a range of perspectives. In this episode of RIMScast, Justin interviews Christopher Stitt about his session, which he based on the RIMS ERM Framework and the RIMS Risk Maturity Model. Justin interviews Catrina Gilbert about her position at the DFW Airport and her career in risk management and ERM, as well as current airport initiatives. Listen in for a sample of the offerings of the RIMS ERM Conference 2024 with its record-breaking full-capacity attendance.   Key Takeaways: [:01] About RIMS. [:14] Member registration for RISKWORLD 2025 is now open! General registration opens on December 4th. Visit RIMS.org/RISKWORLD. [:25] About this episode. Recorded live in Boston at the RIMS ERM Conference 2024, we have interviews with two fantastic guests! [:49] The next RIMS-CRMP Exam Prep Virtual Workshop will be held on December 17th and 18th. The next RIMS-CRMP-FED Exam Course will be hosted along with George Mason University from December 3rd through the 5th. [1:07] Links to these courses can be found on the Certification page of RIMS.org and through this episode’s show notes. [1:15] RIMS Virtual Workshops! Elise Farnham of Illumine Consulting recently joined us here on RIMScast. On December 4th and 5th, she will host “Applying and Integrating ERM”. On December 17th and 18th, she will host “Captives as an Alternate Risk Financing Technique”. [1:35] Those are just two of the workshops RIMS offers; we have lots more! Other dates for the Fall and Winter are available on the Virtual Workshops calendar, RIMS.org/virtualworkshops. [1:51] First Interview! Our first guest was a featured speaker on Day 2 of the RIMS ERM Conference 2024. His name is Christopher Stitt and he is the Founder and CEO of CrisisLead, LLC. [2:01] Chris’s session was titled “The Art and Science of High-performing Enterprise Risk Management: Bridging Silos for Sustainable Success.” We’ll speak about that session and give a high-level overview for those who could not attend. [2:18] Chris has a fascinating background that led him to risk management and ERM. His career journey is an inspiration. We recorded live on-site at the Boston Hilton Plaza. Christopher Stitt, welcome to RIMScast! [2:51] This is Chris’s first ERM Conference. He’s enjoying it and likes getting a broader perspective of how the overall ERM community operates. It’s been a fantastic opportunity to network with some amazing professionals and learn from them! [3:20] Chris talks about the session he is giving, “The Art and Science of High-performing Enterprise Risk Management: Bridging Silos for Sustainable Success.” It comes down to people. What sometimes gets missed in the ERM process is the human factor. [3:51] It’s about getting the buy-in necessary and the understanding of what risk is, not just from the senior level but across the board. A new concept, the Risk Intelligence Quotient, can help your organization understand how to look at, feel about, and interact with risk. [4:26] The Risk Intelligence Quotient, along with the human-centric aspects of the risk program, can help you build a good risk culture and ultimately, a high-performing organization that can thrive during both business-as-usual and disruption. [5:03] Chris used the RIMS ERM Framework and the RIMS Risk Maturity Model as the foundation of his session. As he studied the RIMS Risk Maturity Model, he saw it was about the journey, from starting a risk program in a new business to developing a mature program. [5:37] As a business grows and a company matures, you need to be able to go through the process and say, “We need to start documenting how this works. We need to start ingraining this into our business process.” [6:01] The RIMS Risk Maturity Model gives a great overview of how to ingrain risk management into your business process, especially in a business developing as a hierarchical organization. [6:41] Chris was a U.S. Department of State Diplomatic Security Service Special Agent for over 25 years managing integrated security risks in embassies around the world. He looked at how international risks would influence U.S. operations in a given country. [7:17] Chris was also Chief of Emergency Planning for the Department of State twice. That gave him a wide view of how risks develop and how to develop response plans to those risks. [7:40] About 2014, The Department of State set up an ERM program. Chris was at the initial meeting. Senior officials were using terms he knew but with different meanings. That led Chris to investigate further into the meaning of enterprise risk and how to integrate it. [8:24] What Chris loves is helping other people understand and build ERM programs. That’s why now, since retiring from the Department of State, Chris has moved into consulting. He sees it as a great opportunity to bridge the silos for a better understanding of what we’re trying to achieve. [8:51] Chris is excited about presenting his session where he talks not only about the risks but also how you find the opportunities in those risks. It’s about building a powerful ERM program that gets buy-in from stakeholders and imbuing ERM into your organization’s culture. [9:29] Chris, it’s been a pleasure. Thank you for joining us here on RIMScast. [9:43] Plug Time! RIMS Webinars! On November 25th, Resolver returns to discuss “The Future of Risk & Compliance: 5 Key Insights for the Modern Leader”. [9:54] On December 5th, we have “Predictive Strategies to Detect Electrical and Machinery Failures”, presented by Global Risk Consultants, a TÜV SÜD company. [10:06] On Thursday, December 12th, OneTrust returns to deliver “Staying Vigilant: 7 Practical Tips for Ongoing Third-Party Risk Monitoring”. [10:16] More webinars will be announced soon and added to the RIMS.org/webinars page. Go there to register. Registration is complimentary for RIMS members. [10:28] RIMS is now accepting nominations for all awards other than Risk Manager of the Year 2025. The submission deadline is Monday, January 6th, 2025. To receive a RIMS award, all winners must be active members and in good standing. [10:48] The awards are the Diversity, Equity, and Inclusion Chapter Leadership Award, the Harry and Dorothy Goodell Award, the Volunteer of the Year “Heart of RIMS” Award, the Richard W. Bland Memorial Award, the Chapter of the Year Award, the Rising Risk Professional Award, the Risk Management Hall of Fame, and the Cristy Award. [11:26] You can find more information about the awards through the About Us page of RIMS.org or the link in this interview’s show notes. [11:35] Final Interview! Catrina Gilbert is a previous ERM Conference speaker. Catrina is well known in ERM in Texas and the DFW RIMS Chapter. We will talk about how ERM influences aviation and some of the risk awareness campaigns she champions at the DFW Airport. [11:56] Catrina Gilbert, welcome to RIMScast! Catrina is the Vice President of Risk Management at the DFW Airport and the Treasurer of the RIMS DFW Chapter. Justin and Catrina have known each other for a few years. [12:30] Catrina is absolutely loving the RIMS ERM Conference 2024. Boston is beautiful this time of year. The speakers, the lineup, the vendors, and the food have been amazing! Every session has been standing-room-only! The Conference is at maximum capacity. [12:54] It adds to the excitement. It is beautiful to see all these great minds from different industries, states, and countries converging on Boston! Catrina had “chowda” for the first time! [13:37] Catrina states that there is never a dull moment in aviation. Airports are growing and rebounding from the pandemic, doing all sorts of construction projects. DFW has a $9B Capital Improvement Plan. From an insurance and claims perspective, that keeps Catrina very busy. [14:02] The DFW Airport has a rolling owner-controlled insurance program, which keeps Catrina super busy. Catrina is also responsible for the airport’s ERM program. That’s why Catrina is at the RIMS ERM Conference 2024. [14:16] Having the ERM program and being rooted in the organization at the ground level and the executive level, Catrina makes sure that everyone on the airport’s Risk Council understands that ERM can also stand for “Everyone’s a Risk Manager.”. [14:37] Catrina is trying to empower the team to think strategically and holistically, and to think about how different programs and platforms have interdependencies. If we have an issue here, how is it going to impact, perhaps, the runway or the concessions? [14:57] Catrina is looking at a resiliency framework; how do we bounce back? A lot of organizations are still struggling from the pandemic. Everyone is focused on a resiliency framework. When this happens again, are we ready? That’s the beauty of this conference. [15:33] Catrina says every holiday is the best time of the year at an airport! There’s no such thing as the worst time of the year. The beauty of an airport is that it connects people around the globe. The holidays are a special time for everyone. Airports love playing a part in that journey. [16:14] Catrina has been at DFW for almost eight years. She has been in risk management since 1999. She has done risk in several industries. Aviation is, by far, her favorite. There is never a dull moment; two days are never the same. DFW Airport is a city, with all the departments. [17:22] Trisha Sqrow and Sandra Fontenot, past RIMScast guests, were DFW colleagues of Catrina’s. Trisha is doing great work at the Conference. Sandra Fontenot is doing great work at the RIMS DFW Chapter and helped Catrina with the annual chapter conference. [17:37] Catrina says we grow when we move, but RIMS and risk management keep people together. Catrina thinks the work that they did together at DFW Airport is one of the reasons they’re still colleagues and friends. They still share ideas and speak at conferences together. [18:31] Catrina has 12 people in her risk group at the DFW Airport. At her previous airport, Hartsfield-Jackson Atlanta, she was a department of one. She reported to the city. She hears “department of one” a lot at the Conference, maybe two or three. Everything’s bigger in Texas. [19:03] Catrina looks for fresh ideas in a new risk hire. DFW had Innovation Week last week. Seeing the great ideas coming through in the aviation industry, including AI, Catrina wants people who have an open mind, are innovative, and are willing to try some new things. [19:37] You can teach the rest of it. Catrina wants people with the soft skills, the personality, and the ability to jump in there, push up their sleeves, and try it out. [19:57] Justin recently noticed in the restrooms at DFW Airport posters on Human Trafficking Awareness. He is a big proponent of human trafficking awareness. He has led those initiatives at RIMS. He was glad to see that DFW is one of the many airports boosting awareness. [20:18] DFW is one of many airports in this fight against human trafficking. They have training, posters, and placards to educate you to say something if you see something and how to report what you see. It’s better to be safe than sorry. DFW provides you with a way to report. [21:06] The Human Trafficking Awareness campaign is a team effort. It went through the Community Engagement Team, the Customer Experience Team, and the Department of Public Safety. Everyone worked hand-in-hand to be on the same beat in fighting human trafficking.  [21:32] DFW is proud to be a part of the global Sunflower Lanyard Program, designed to make hidden disabilities a little bit more visible. A passenger who has a hidden disability will receive a Sunflower Lanyard by mail before their departure date. [21:54] When the passenger with the hidden disability is in the terminals, DFW employees have been trained to recognize the Lanyard and give them a tailored experience by asking how they can assist the passenger to have a wonderful travel experience. [22:14] It’s about providing for the diverse needs of a diverse population to ensure that everybody has the same experience in traveling. [22:25] What a delight to finally have Christoper Stitt and Catrina Gilbert as our special guests here on RIMScast! [22:33] Check out this episode’s show notes for links about the ERM Award of Distinction Winners and Honorees and more about the Conference. Of course, we also have a special edition of Risk Management magazine dedicated to ERM. That’s available in the show notes. [22:52] More RIMS Plugs! The RIMS App is available to RIMS members exclusively. Go to the App Store and download the RIMS App with all sorts of RIMS resources and coverage. It’s different from the RIMS Events App. Everyone loves the RIMS App! [23:27] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate and help you reach them! Contact [email protected] for more information. [24:13] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information. [24:30] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [24:47] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [25:01] Justin Smulison is the Business Content Manager at RIMS. You can email Justin at [email protected]. [25:09] Thank you all for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!   Mentioned in this Episode: RIMS ERM Conference 2024 Roundup — Global Award of Distinction Honors RIMS Strategic & Enterprise Risk Center RIMS DEI Council RIMS-Certified Risk Management Professional (RIMS-CRMP) NEW FOR MEMBERS! RIMS Mobile App RIMS-CRMP Stories — Featuring Valerie Fox!  Nominations open for RIMS 2025 Awards! (Through Jan. 6, 2025) Nominations for the Donald M. Stuart Award RIMS Webinars: “The Future of Risk & Compliance: 5 Key Insights for the Modern Leader” | Sponsored by Resolver | Nov. 25, 2024 “Predictive Strategies to Detect Electrical and Machinery Failures” | Sponsored by TUV SUD GRC | Dec. 5, 2024 “Staying Vigilant: 7 Practical Tips for Ongoing Third-Party Risk Monitoring” | Sponsored by OneTrust | Dec. 12, 2024 RIMS.org/Webinars   Upcoming Virtual Workshops: RIMS-CRMP Exam Prep (Virtual)Dec. 17‒18, 2024 | 9:00 am‒4:00 pm EST — Register by Dec. 10. “Applying and Integrating ERM” | Dec 4‒5 “Captives as an Alternate Risk Financing Technique” | Dec. 17‒18 See the full calendar of RIMS Virtual Workshops RIMS-CRMP Prep Workshops   Related RIMScast Episodes: “Risk Quantification Through Value-Based Frameworks” “Maintaining an Award-Winning ERM Program with Michael Zuraw” “Applying ERM Theory with Elise Farnham” “On Risk Appetite and Tolerance” “Big Shifts with John Hagel, RIMS ERM Conference Keynote” “Live From RIMS ERM Conference 2023”   Sponsored RIMScast Episodes: “Risk Management in a Changing World: A Deep Dive into AXA's 2024 Future Risks Report” | Sponsored by AXA XL (New!) “How Insurance Builds Resilience Against An Active Assailant Attack” | Sponsored by Merrill Herzog “Third-Party and Cyber Risk Management Tips” | Sponsored by Alliant “RMIS Innovation with Archer” | Sponsored by Archer “Navigating Commercial Property Risks with Captives” | Sponsored by Zurich “Breaking Down Silos: AXA XL’s New Approach to Casualty Insurance” | Sponsored by AXA XL “Weathering Today’s Property Claims Management Challenges” | Sponsored by AXA XL “Storm Prep 2024: The Growing Impact of Convective Storms and Hail” | Sponsored by Global Risk Consultants, a TÜV SÜD Company “Partnering Against Cyberrisk” | Sponsored by AXA XL “Harnessing the Power of Data and Analytics for Effective Risk Management” | Sponsored by Marsh “Accident Prevention — The Winning Formula For Construction and Insurance” | Sponsored by Otoos “Platinum Protection: Underwriting and Risk Engineering's Role in Protecting Commercial Properties” | Sponsored by AXA XL “Elevating RMIS — The Archer Way” | Sponsored by Archer “Alliant’s P&C Outlook For 2024” | Sponsored by Alliant “Why Subrogation is the New Arbitration” | Sponsored by Fleet Response “Cyclone Season: Proactive Preparation for Loss Minimization” | Sponsored by Prudent Insurance Brokers Ltd. “Subrogation and the Competitive Advantage” | Sponsored by Fleet Response   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars Risk Management Magazine ERM Special Edition RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy   RIMS Events, Education, and Services: RIMS Risk Maturity Model® RIMS Events App Apple | Google Play   Sponsor RIMScast: Contact [email protected] or [email protected] for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: [email protected].   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Christopher Stitt, Founder and CEO at CrisisLead, LLC   Catrina Gilbert, Vice President of Risk Management at Dallas Fort Worth International Airport RIMS DFW Chapter Treasurer   Social Shareables (Edited For Social Media Use): The Risk Intelligence Quotient (how you look at risk), along with the human-centric aspects of the risk program, can help you build a good risk culture and ultimately, a high-performing organization that can thrive during both business-as-usual and disruption. — Christopher Stitt   What I really love is helping other people understand and build ERM programs. That’s why now, since I retired from the Department of State, I have moved into consulting. It’s a great opportunity to bridge the silos. — Christopher Stitt   It’s about building those cultures that can build very powerful ERM programs that get buy-in from the stakeholders and imbuing ERM into the culture of your organization. — Christopher Stitt   In a post-pandemic era, everyone is focused on a resiliency framework. When this happens again, are we ready? Are we prepared? Have we done the work? That’s the beauty of this RIMS ERM Conference 2024. — Catrina Gilbert   You can teach the rest of risk management. I want people with the soft skills, the personality, and the ability to jump in there, push up their sleeves, and try it out. — Catrina Gilbert   We have training, posters, and placards to educate you to say something if you see something and to have a way in which to report human trafficking. — Catrina Gilbert