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Riskmanship - or how to stay a step ahead (Part Two)

In Part Two of his book “Riskmanship: the politics of corporate survival”, Trey Connard III explains how to deal with the enemies of the alpha risk manager. Here are some extracts.

Of course there are enemies within. Part of your survival plan should be to start turf wars and create antagonisms between your enemies. For example, no one likes the people in internal audit. They snoop on everyone across the entire organisation. Why not suggest to them that IT is fiddling its budget with the connivance of corporate security in order to provide themselves with take home perks. Similarly, suggest to human resources that you have seen the head of corporate security drunk in a downtown bar talking to well known “made guys”.

The general counsel is another potential adversary. He or she plays a key role in corporate governance and probably makes a lot more than you. The best advice is to keep them frantically busy. So bombard them with coverage details and queries relating to D&O and any pending litigation against the firm. If they start looking too relaxed, fabricate some insurer disclosure issues, say to do with pollution.

Sadly, some risk managers have to report into the finance or treasury function, with insurance viewed as one component in the overall approach to managing and funding financial risk. But remember, CFOs usually don’t understand insurance jargon, so be sure to use it constantly in reports and conversation. This will discourage CFOs from putting their nose in your business. If your broker suggests a presentation to the CFO on ERM, immediately tell him that your firm is reviewing its risk partner relationships. ERM spells Exit Risk Manager. Unless of course you are considering moving up to C-level and the revered position of CRO!

Riskmanship: the politics of corporate survival is still not available from any good bookshops or indeed, any bad ones, or any on-line booksellers. RISKbitz, on the other hand, has 145,000 copies to give away. And we mean give away, we can’t sell them, we’ll even pay postage…