Navigating the Hazards of ESG-Linked ERM Risk
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Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.
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Only 2 \\xbd more weeks until the RIMS ERM Conference 2022! In this episode, Justin Smulison is joined by Chicago RIMS President Carnell Jones and return guest (and friend of the show), Nir Kossovsky of Steel City Re!
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Carnell and Nir are two of the three speakers who will be delivering the general session titled, \\u201cMitigating the Hazards of ESG-Linked ERM Risk,\\u201d at the RIMS ERM Conference on November 11th at 11:30 am. This session will explore the value proposition of how to manage ERM to mitigate ESG-linked reputation risk strategically. It will focus on the cultural aspects of rounding up the collaborators from legal and communications using the transparency of captives as a metric for tracking value creation and more. The session is then capped off with how to engineer the solution.
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In this episode, Carnell and Nir share a preview of their general session and have a fascinating discussion about the overall state of ERM and reputation. Be sure to tune in!
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Key Takeaways:
[:01] About the RIMS Membership.
[:14] About today\\u2019s episode and how to save $400 on the Pre-Conference Workshop for RIMS-CRMP Prep!
[:42] About RIMScast.
[:55] About today\\u2019s episode with Nir Kossovsky and Carnell Jones!
[1:18] All about the RIMS ERM Conference 2022 and how to take advantage of the special advance group rate.
[2:00] Upcoming RIMS webinars, workshops, events, and more!
[2:50] More about today\\u2019s episode\\u2019s guests Nir Kossovsky and Carnell Jones.
[4:05] Justin welcomes Nir and Carnell to RIMScast!
[4:50] Carnell Jones shares his thoughts on how the meaning of organizational \\u201cculture\\u201d has changed over time.
[6:00] Nir defines organizational culture and his views on how it has changed over time.
[6:35] Do Nir and Carnell feel that a company that can stay out of the news for negative reasons is considered to have a positive reputation?
[8:39] How much of having a positive reputation is crisis communication versus putting controls in place? Or is it all part of the same puzzle?
[9:52] RIMS plug time! All about upcoming awards and nominations, virtual workshops, and more!
[11:33] Is ESG becoming more mainstream a good thing for the risk profession?
[14:26] Nir and Carnell give a preview of their upcoming general session titled, \\u201cMitigating the Hazards of ESG-Linked ERM Risk,\\u201d at the 2022 ERM Conference.
[16:15] About the third presenter that will be joining Nir and Carnell for the general session.
[16:29] Carnell shares how 2022 has been for the RIMS Chicago Chapter.
[17:40] Carnell plugs some upcoming events that the RIMS Chicago Chapter has coming up and where to learn more about the Chapter.
[19:10] Justin thanks Nir Kossovsky and Carnell Jones for joining the podcast and shares some of the links to check in today\\u2019s show notes!
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Mentioned in this Episode:
RIMS ERM Conference 2022 \\u2014 November 10\\u201211, 2022 | Indianapolis, IN \\u2014 Agenda Now Live! (Special registration discount for RIMScast listeners! Enter Code: RIMSCAST2022 on the \\u201cPayment\\u201d page \\u2014 Note: Only for new registrations)
Save $400 on the Pre-Conference Workshop: RIMS-CRMP Prep
Attend the in-person RIMS-CRMP Exam Prep Workshop, November 8\\u20129. Register for the ERM Conference and select the workshop on the \\u201cAdditional Purchase Options\\u201d page. Your $400 savings will already be applied. Learn more!
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Want to Learn More?
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Follow up with Our Guests:
Nir Kossovsky\\u2019s LinkedIn
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Tweetables (For Social Media Use):
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\\u201cI do believe the conversation [around organizational \\u201cculture\\u201d] is that much more broad across organizations. They want to have a similar place that they\\u2019re starting from.\\u201d \\u2014 Carnell Jones
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\\u201cWe define \\u2018culture\\u2019 as the combination of ideas, beliefs, and practices. \\u2026 The ideas of what constitutes culture \\u2026 have \\u2026 transformed \\u2026 from a view of what is relevant to an organization internally, to a practice \\u2026 consistent with \\u2026 its place in society.\\u201d \\u2014 Nir Kossovsky
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\\u201cAn organization that is held in high esteem by its many stakeholders \\u2026 that runs across an adverse event \\u2026 in the ESG space \\u2026 can avoid adverse publicity if its reputation is such that its stakeholders forgive it on the first pass.\\u201d \\u2014 Nir Kossovsky
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\\u201c[Bringing ESG to the mainstream is] a good conversation. [Having] the peer pressure of your competitors using their ESG as a competitive advantage gives companies motivation to strengthen their practices \\u2014 if they already have them \\u2014 or put them in place.\\u201d \\u2014 Carnell Jones
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