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Develop a Risk Management Plan for a Mid-Size Company
Luis Sarmiento
Luis Sarmiento
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Develop a Risk Management Plan for a Mid-Size Company

Understand the operations and business exposures to provide business risk management solutions using the Risk Management Process.

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Saturdays
 at
10:00
A.M.
 ET /
7:00
A.M.
PT
8 weeks, 2-3 hours per week
Beginner
No experience required
No experience required
Some experience required
Degree and experience required

Description

It's imperative for the survival of a company to understand the cost & opportunity of various risks and to learn how to manage them. In this Build Project, you'll wear the hat of a Chief Risk Officer / Risk Advisor and build a comprehensive risk management plan for a client. You will help that company understand their vulnerabilities and opportunities and give them your recommendation on how to manage their risk. Under the supervision of an experienced Build Fellow, you'll learn about the different risk management techniques: risk transfer, risk avoidance, risk mitigation, and risk acceptance. You will become familiar with the Risk Management and Financial methodologies like the risk management process, the financial ratios, forecasting, and the loss triangulation, in an environment that simulates the operations of a real risk management team.

Session timeline

  • Applications open
    May 27, 2024
  • Application deadline
    June 23, 2024
  • Project start date
    Week of July 8, 2024
    Week of
    July 8, 2024
  • Project end date
    Week of

What you will learn

  • Use Excel to manage organize and analyze large sets of data
  • Understand the risk management process and risk treatments (retention, avoidance, mitigation and transfer)
  • Learn about the financial statements and how to use them to determine the health of an organization
Build Projects are 8-week experiences that operate on a rolling basis. Selected participants engage in weekly live workshops with a Build Fellow and 2-15 other students.

Project workshops

1
Introductions
2
Risk Identification
3
Risk Measurment
4
Risk Treatment
5
Risk Tolerance
6
Loss Triangulation
7
Risk Discovery
8
Presentations

Prerequisites

  • Basic mathematical skills: you should know how to solve algebraic equations.
  • You should understand basic financial and accounting principles like the GAAP principles, relevant ratios and their meaning, and the main components of the income statement.
  • Good data collection, validation and data analysis aptitude: you should be able to understand what information within a data set is relevant based on the issue you are seeking to identify or resolve.  
  • Basic knowledge of Excel: you should be able to sort data, create a pivot table, and use formulas like VLOOKUP.

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About the expert
Luis Sarmiento
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Luis
's Linkedin

Luis Sarmiento is the Chief of Staff at Setnor Byer Insurance and Risk, and a Finance Fellow at Open Avenues. He holds a Master's in Business Administration degree from Florida State University, where he studied Risk Management and Insurance. Luis has worked in the producer- and carrier- side of the insurance industry and has held roles in different areas like claims, product development, risk management, and agency operations. In his current role, Luis interacts with the risk management department, developing risk assessment templates, and with the administrative department, performing audits, process improvement and limiting errors and omissions exposures.


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