Good Morning FIN 230 Jeff Myers.

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Presentation transcript:

Good Morning FIN 230 Jeff Myers

Are You Ready 2 FIN 230

Morning Presentations

Smile

Risk Management What are we doing today?

Risk

Risk Management… ……is the process of planning, organizing, leading and controlling an organization’s activities to minimize (in a cost effective manor) the adverse effects of accidental losses on the organization

Risk Management or……. ‘taking deliberate action to shift the odds in your favor. Increasing the odds of a good outcome and decreasing the odds of a bad outcome’

How Many?

Insurance…………… Critical component of dealing with risk In some cases, a legal requirement Most cases, a smart thing to do Bankers will require it

Insurance……………... Property and Boiler Liability Directors & Officers Nuclear Employee Benefit Plans Workers Compensation Health/Medical/Life

What Do We Worry About?

Nature

Today’s Plan - 4W Plan Who What Where Why and ……..

Today…….. Who I am and how did I get here. What do we do and why is it important. Where does it fit in this business... Why is it important and a few tips for the………...

WHO….. Husband, Father, ……. Deputy Fire Chief Professor (Fin 433) Safety and Risk Manager

Why the 2

Ameren…. Gas and Electric Utility $17 billion in assets 10,000 people 17 power plants 2,300,000 electric customers 900,000 gas customers 10,000 people Energy Delivery Business

How did I get there? Substation Unskilled Labor Dispatcher Engineer Specs/Purchasing Safety Facilities Mgr. Risk Mgmt.

Why is it important? Protect organization and it’s people Help companies grow Minimize losses and disruption It’s just good business

Where do we fit in ……. Corporate risk (pure risk) Other risks

Insurance……………... Property and Boiler Liability D&O Nuclear Employee Benefit Plans Workers Compensation Health/Medical/Life

Insurance Industry Opportunities……. Jobs Companies

A few tips for the future

FIN 433…… INTERESTING FUN CHALLENGING

MYERS LAWS OF RISK Don't risk a lot for a little MYERS LAWS OF RISK Don't risk a lot for a little. Consider the odds of an occurrence. Accurate and timely information is critical to making good decisions. Risk Control works and it’s very important. Never depend solely on someone else's insurance. Risk taking presents an opportunity for economic gain. Verify the accuracy of all relevant information you receive. Common sense is still the single most important ingredient in risk management! Don't risk more than you can afford to lose.

Thank You Don't risk more than you can afford to lose.