Philip Stack

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Are You a Risk Manager?
Philip Stack Associate Vice-President Risk
Management Services
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Risk defined

• Risk is the combination of the probability of an
  event and its consequence
• (a negative consequence, that is)

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For Example

• Consider the probability of forgetting your lunch
  on the counter at home
• X
• the consequence
• ___________________________________

4
For Example

• Consider the probability of a theft of University
  assets
• X
• the consequence
• ___________________________________

5
For Example

• Consider the probability of a particular,
  valuable employee quitting their job at the
  University
• X
• the consequence
• ___________________________________

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For Example

• Consider the probability of losing access to a
  University building
• X
• the consequence
• ___________________________________
• Well discuss this one in a minute

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Risk is everywhere!

• Risk is about uncertainty
• Risk is neither good nor bad
• Risk is part of life
• Its how you manage it that counts

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So how do you manage risk?

• Risk Management is
• coordinated activities to direct and control the
  organization with regard to risk
• Its reducing the probability of negative events
  happening, and
• Knowing what youre going to do if (or when) the
  event happens

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For Example

• The probability of losing building access is
• low to moderate
• X
• The consequence
• inability to
• teach
• support students
• access research
• perform essential administrative services
• ___________________________________

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So lets manage this risk

• Lets lower the probability of building loss
• How?

Lets lessen the impact if we lose building
access How?
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Thats risk management

• Please make it part of your job at the University
  of Alberta
• Be the one to ask
• What could happen, and
• What are we going to do about it?

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Risk Management Services is

• Six Units
• Campus Security Services
• Environmental Health Safety
• Emergency Management
• Insurance Risk Assessment
• Policy Standards Office
• Resource Planning

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Other Examples

• Reputational
• Injury or worse
• Public Health
• Your examples ?

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What we do Enterprise Risk Management

• Each one of us at the University of Alberta
  shares in managing risk in the best interest of
  our University
• Create a culture of managing risk across
  Faculties and Units

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What we do - Services

• Help keep the campus safe from crime
• Help make sure everyone knows and follows the
  rules regarding fire safety, lab safety, chemical
  safety, etc
• Ensure our safety equipment and processes are
  up-to-date
• Arrange for insurance against loss from some
  types of events
• Organize the University to respond in a major
  emergency
• Facilitate University policy and procedures
• Facilitate University planning and budgeting

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What you can do

• Help manage the risks to yourself, your
  colleagues, students, and the University

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What you can do

• Know who to call to report a major emergency 911

i.e. Fire and life emergency
911
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What you can do

• Pay attention to U of A Alerts messages, and
  assist during testing
• U of A Alerts is the Universitys emergency
  notification system, and includes messages by
  email, voice, text messaging (for students ) and
  web

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What you can do

• Orient yourself to your work responsibilities and
  work environment
• Know the safety rules in your area and show
  leadership in how you follow them
• Know the policies , procedures and legislation
  affecting the work you do

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What you can do

• Be the one to ask
• What could happen?
• Can I reduce the risk?
• How do I respond?

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And finally, to answer the question

• Are you a risk manager?

Yes
http//www.uofaweb.ualberta.ca/rms