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2008 Asia Conference Final

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This is a keynote presentation that I delivered at the 2008 Global Association of Risk Professionals\' (GARP) Asian Risk Management Conference in Hong Kong. The theme is how risk managers can get senior management to focus on the key risk management message.
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November 20, 2008 David Nichols Chief Administrative Officer MSIM, Japan Effective Risk Management How to Keep Your Business Focused
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Page 1: 2008 Asia Conference Final

November 20, 2008David NicholsChief Administrative OfficerMSIM, Japan

Effective Risk Management

How to Keep Your Business Focused

Page 2: 2008 Asia Conference Final

Setting the Context – Why Am I Here?

Page 3: 2008 Asia Conference Final

Risk Managers’ Challenge – Important Versus Urgent

Important

NotImportant

Urgent Not Urgent

Where Risk Management Should be

Where Risk ManagementBecomes

Crisis Management

Risk Managers need to helpBusiness Managers stay out of these boxes

Page 4: 2008 Asia Conference Final

Here Is My Road Map for Today

• Getting up to the plate

• Take your best swing

• Play in the field• Make the team

look good

Page 5: 2008 Asia Conference Final

Getting up to the Plate

Page 6: 2008 Asia Conference Final

Know the Core Fundamentals of Your Business

• How do you create value? • What is your competitive advantage?• What do you need to survive as a

business?• Who are your customers and competitors?

Page 7: 2008 Asia Conference Final

Analyze Your Audience

Page 8: 2008 Asia Conference Final

Don’t Forget To Do Reconnaissance

Page 9: 2008 Asia Conference Final

Take Your Best Swing

Page 10: 2008 Asia Conference Final

Tailor Your Presentation to Your Audience

Page 11: 2008 Asia Conference Final

Write for the Reader

Page 12: 2008 Asia Conference Final

Speak for the Listener

Page 13: 2008 Asia Conference Final

Draw for the Viewer

Page 14: 2008 Asia Conference Final

• Parsimony– A goal to strive for– Two essential elements

• Succinct• Robust

• Keep your message focused and simple– How does effective risk management or lack

of it affect your core business?

Composing Your Message - Presentation Principles to Keep In Mind

Page 15: 2008 Asia Conference Final

Presentation Tools For Easier Understanding

• Use “active voice” in your slide titles- If you can’t tell a story, then the slide should

be modified or cut• Use analogies

- Paramedics’ ABC’s and Financial Services core functions

Page 16: 2008 Asia Conference Final

Include Key Elements in Every Presentation

• Recommendation – Put it up front

• Make the cost / benefit analysis very clear• Be clear what you need from your

audience– A Decision?– An Approval?

• Have supporting metrics at hand

Page 17: 2008 Asia Conference Final

• Pay attention to consistency – Past present AND future

• Footnote = CYA– Helps to prevent misunderstandings

• Be very careful with word choice– Don’t put yourself in a position to be

misinterpreted

Be Careful With Your Positioning

Page 18: 2008 Asia Conference Final

Round the Bases – Don’t Forget The Feedback Loop

Page 19: 2008 Asia Conference Final

Playing in the Field With the Rest of the Team

Page 20: 2008 Asia Conference Final

Be a Team Player

Page 21: 2008 Asia Conference Final

Surprises?

Page 22: 2008 Asia Conference Final

No Surprises

Page 23: 2008 Asia Conference Final

• Of course you’re going to tell the truth• How are you going to make your

colleagues look?

How You Say it Makes a Big Difference

Page 24: 2008 Asia Conference Final

• It was too cold

Legitimate Spin

• Weathered off the mountain

• He fainted • He experienced an episode of syncope

• Corrected errors • Updated the data

Page 25: 2008 Asia Conference Final

• Take the Blame– The buck stops with you

But….

• Share the Credit– Dilution does not devalue

Be Lavish With Your Praise

Page 26: 2008 Asia Conference Final

Important Message Delivered

Important

NotImportant

Urgent Not Urgent

Where Risk Management Should be

Where Risk ManagementBecomes

Crisis Management

Risk Managers need to helpBusiness Managers stay out of these boxes

Page 27: 2008 Asia Conference Final

Important Message Delivered

Important

NotImportant

Urgent Not Urgent

Where Risk Management Should be

Where Risk ManagementBecomes

Crisis Management

Risk Managers need to helpBusiness Managers stay out of these boxes

Page 28: 2008 Asia Conference Final

November 20, 2008David NicholsChief Administrative OfficerMSIM, Japan

Effective Risk Management

How to Keep Your Business Focused


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