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Page 1: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful
Page 2: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

SEVEN HABITS OF HIGHLY EFFECTIVE RISK PROFESSIONALS

(TLT 032 and TLT 006)

Speakers: Steve Sachs, Director, Real Estate, Hotel and Gaming Practice, Willis Group

Tim Kraft, Risk Management Consultant

Page 3: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Learning Objectives

At the end of this session, you will: •  Relate how Steven Covey’s highly effective “Seven Habits” are

fully transferrable to our duties as Risk Professionals

–  Not surprisingly, success as a Risk Professional is tied to how we manage ourselves, our priorities and our relationships within our companies to create the “win/win” solution!

Page 4: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Great News!

•  Risk Management is not rocket science – it’s all about

LEADERSHIP

•  Apply Covey’s Seven Habits and you’ll be a hit!

P.S. Don’t forget to personalize them.

Page 5: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Speakers

•  Steve Sachs –  40 plus years of risk management, brokerage, and underwriting experience –  30 years as Risk Manager for publicly traded real estate owner/developer of shopping malls,

new towns, and mixed use properties (The Rouse Company) –  Co-Founder of RIMS Real Estate Industry Session –  10 years as Director on Bank Board; Chaired Audit and Governance Committees –  Risk and Insurance Real Estate Power Broker – 2006 –  Legacy Leadership Award – Leadership Howard County – 2011 –  Howard County Chamber of Commerce Business Person of the Year – 2005/06 –  Executive Vice President, Director – Willis Real Estate, Hotel, and Gaming Practice

•  Tim Kraft –  26 years brokerage and risk management consulting experience –  Practical leadership experience gained through U.S. Naval Academy and as a USMC

Infantry officer –  Early career: Direct sales as rep for Factory Mutual company selling to Fortune 1000 clients;

managed teams of 12+ professionals –  Past 15 years: Consultant specializing in construction insurance administration (OCIP) and

real estate risk management (development & property management); managing team of 7+ professionals

Page 6: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Stephen Covey – Seven Habits

•  Seven Habits of Highly Effective People •  Wildly successful book of wisdom

–  25 million copies worldwide since publication in 1989

•  Stresses the “Character Ethic” –  Align values with “universal and timeless” principles

•  Manifested in 7 habits: 1.  Be Proactive 2.  Begin with the end in mind 3.  Put first things first 4.  Think “win/win” 5.  Seek first to understand, then to be understood 6.  Synergize 7.  Sharpen the saw

Page 7: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Habit #1: Be Proactive

•  Own the Risk Management discipline within our company –  Anticipate needs and problems –  Know your company’s business –  Know where to find solutions

•  We must always look to the horizon! •  Be seen as a problem solver

–  Address both “pure” and “dynamic” risk

Page 8: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Habit #2: Begin With The End In Mind

•  Move the needle! •  Results matter – NOT activities

–  Results need to be aligned with company goals

•  3 Legged Stool - drivers for continuous success

1.  Established standards for success 2.  Accountabilities 3.  Measurement metrics to confirm results

Page 9: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Habit # 3 Put First Things First

•  Understand and relish the role we play –  WE are Risk Busters!

•  In simple terms, 2 focuses:

1. Process – Consistent way to conduct our business

2. Problems

– Problems are opportunities to excel – Fixing problems is why they pay us the big bucks

Page 10: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Habit #4 Think “Win/Win”

Before we can create a winning solution ……

•  We MUST understand our company’s strategic objectives –  Short and long term goals –  Constraints –  Values

•  Connect with leaders at all levels –  We align with their objectives –  We speak their language (including metrics) –  We communicate in ways they want to see data and make decisions

And then……

•  We deliver solutions that impact results!

Page 11: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Habit #5 Seek First To Understand, Then To Be Understood

•  Give up control to gain control!

•  The process always starts with us actively listening to our constituents

•  NETSIL is “Listen” spelled backwards

WE listen to THEM first,

THEN WE respond

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Habit #6 Synergize

•  We’re leaders – we must act like one!

•  We don’t have to know “everything”, but …....

•  We are expected to be able to find the answers

•  Coordinate resources to meet the company’s objectives

– Constituents • Fellow risk managers • Broker (s) • Internet

Be Passionate! Lead from the front! Make it fun!

Page 13: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Habit #7 Sharpen The Saw

•  Always ask questions •  Continued education

–  Within our discipline –  Business and leadership

•  Push people up!

–  Empower our teams –  Reward them with praise and recognition

Page 14: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Questions?

Page 15: SEVEN HABITS OF HIGHLY EFFECTIVE RISK - RIMS Handouts/RIMS 15/TLT032/V-4 7 Habits... · Stephen Covey – Seven Habits • Seven Habits of Highly Effective People • Wildly successful

Contact Information: •  Steve Sachs

–  [email protected] –  410-209-0712 (M) –  410-5845-8935 (W)

•  Tim Kraft –  [email protected] –  813-767-8323

Thank you for attending! Now go forth……

Be the “Go To” Ambassador for Risk Management in your company!