ERM INSIGHTS BY CAROL, LLC
TALLAHASSEE, FLORIDA

As a data analyst and regulator with the Florida Office of Insurance Regulation (OIR) in the early-to- mid 2000s, my responsibilities encompassed key concepts of evaluating risk to the insurance company and the public. It was here that I began taking an interest in the risk management aspects of insurance companies’ operations, which led me to pursue an M.S. degree in Risk Management Insurance at the Florida State University. My studies at FSU, specifically a course entitled Risk in the Business Enterprise, triggered a light bulb that went off: Shortly after completing my M.S. degree in 2009, my then-employer, a $7+ billion Florida property insurance company, made the decision to create an ERM program. It represented a great opportunity to build an ERM program from the ground-up, so in mid-2010, I began transitioning from a data analyst role to that of ERM Manager and eventually Director. Over the course of this process, I also began seeing the value that ERM can bring to not just insurance companies, but a wide-variety of for- and not-for- profit organizations. And I wanted to help more organizations realize that value…. ERM Insights by Carol in 2016, my initial goal was to work with organizations to identify and manage threats and opportunities to their business objectives. Like many other “consulting” firms, my initial plan centered on developing an enterprise risk management protocol that the organization could use to not only reduce the negative impacts of risks, but maximize opportunities and overall value as well. After a few months, I realized that organizations needed more than just an outsider to help set up some new process. What they really need is someone with the requisite skill set who is enmeshed in the daily workings and conversations of the organization. Without that person, the ERM process set up in the beginning too often gets cast aside since there is no one at the company to steer the ship. ERM Insights by Carol soon went beyond the traditional consulting firm to include other hands-on services aimed at giving other risk management professionals within those organizations the knowledge and tools they need to make ERM a success for the long haul. ERM Insights by Carol To learn more about ERM and how it helps identify and manage threats and opportunities to achieving business objectives, please visit the I will never rent or sell your email address. Helping Companies Is your organization suffering from high employee turnover, a damaged reputation, product or project failure, or continued financial losses? Are you concerned that your firm is missing out on big opportunities or is even at risk of going out of business altogether? While every organization has some sort of risk management in place focusing mainly on loss prevention, a paltry 28% have a complete, formal process way of integrating risk into decision making.* Instead of focusing on losses, Enterprise Risk Management (ERM) is proactive, with an emphasis on achieving business goals and adding value to the organization. By tying different departments or silos together, a robust ERM program provides leadership a holistic view of risks