Getting the lay of the land is something we instinctively do with anything new.
If we are moving to a new city, we’ll certainly take the time to learn where things are, the best way to get around, which areas to avoid, and so on. Much of this will even be done beforehand! Doing all of this helps the transition to new living circumstances go much smoother.
ERM shares many similarities with this particular scenario.
To be effective at helping a company better understand risks and opportunities and improve decision-making, anyone who is new to ERM (whether at a new company or not) will need to get the lay of the land so they can know how to best approach their job.
This was the topic of an extremely interesting conversation I recently had with the new ERM Director for LifePoint Health, John Tartt. In addition to this role, John is also an advisory member for NC State’s ERM Initiative.
In our 20-minute conversation, John and I discussed his first 30 days in his new role and steps he has been taking for the job to better understand how the company approaches ERM, even beginning during the interview process.
While timestamps of important points of the interview are below, I strongly recommend watching the entire conversation. Click here to view on YouTube.
- On a high level, what is your 100-day plan? (1:18)
- A key element of leadership buy-in (3:45)
- Collaborating with other functions and how this helps with risk interviews (4:52)
- ERM and Audit – The Connection (6:25)
- The Ups and Downs of ERM Professionals Working Remotely (7:58)
- Overcoming a Major Drawback of Working Remotely (10:58)
- What are you excited about for your next 30 days? (15:50)
- Do you have any additional experience you would like to share? (18:15)
Below are a few relevant articles on the blog where you can learn more:
- Relationships: A Common but Fatal Mistake of Risk Management
- 3 Easy to Use Tips for Understanding Why Executives Want ERM
- 3 Collaboration Options for ERM and Internal Audit to Deliver Greater Value
I want to extend a huge thank you to John for speaking with me and sharing his insights on this important topic. I look forward to speaking with and learning from him again.
What steps have you taken when starting in a new role in ERM to understand where your organization stands?
As John and I discussed at the beginning of the interview, sharing our insights is how we all learn and grow professionally. If you have any questions or insights about the topic above, please don’t hesitate to leave a comment below or join the conversation on LinkedIn.
And if you’re new to an ERM role in your organization and you don’t know where to start, or if you’ve determined there’s more work than you have capacity for, reach out to me to discuss your situation.
Featured image courtesy of Elijah Hiett via Unsplash.com
