2008 Asia Conference Final
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Transcript of 2008 Asia Conference Final
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November 20, 2008David NicholsChief Administrative OfficerMSIM, Japan
Effective Risk Management
How to Keep Your Business Focused
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Setting the Context – Why Am I Here?
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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
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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
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Getting up to the Plate
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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?
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Analyze Your Audience
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Don’t Forget To Do Reconnaissance
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Take Your Best Swing
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Tailor Your Presentation to Your Audience
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Write for the Reader
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Speak for the Listener
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Draw for the Viewer
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• 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
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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
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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
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• 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
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Round the Bases – Don’t Forget The Feedback Loop
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Playing in the Field With the Rest of the Team
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Be a Team Player
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Surprises?
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No Surprises
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• 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
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• It was too cold
Legitimate Spin
• Weathered off the mountain
• He fainted • He experienced an episode of syncope
• Corrected errors • Updated the data
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• Take the Blame– The buck stops with you
But….
• Share the Credit– Dilution does not devalue
Be Lavish With Your Praise
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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
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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
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November 20, 2008David NicholsChief Administrative OfficerMSIM, Japan
Effective Risk Management
How to Keep Your Business Focused