RIMScast

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Sophie Grégoire Trudeau about her closing keynote for the RIMS Canada Conference. Justin asks Sophie about her connection to risk managers or risk professionals. Sophie explains that all decision-makers are risk assessors. Justin and Sophie address leadership in incredibly high-profile environments and the qualities Sophie believes define strong leadership today, when people are facing uncertainty, competing priorities, or significant change. Sophie explores the window of tolerance.

Sophie explains how Canada is often viewed internationally as collaborative and consensus-driven, and the uniquely Canadian approaches to leadership, wellness, or community that she believes have value on the global stage. Sophie touches on her wellness practices, the importance of adaptability, and what adaptability is.

Listen for Sophie's single most important principle she would share with risk professionals.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. We are delighted to present an interview with one of Canada's national treasures, Sophie Grégoire Trudeau.

[:39] Sophie is an author and mental wellness advocate, and will be the closing keynote speaker at the RIMS Canada Conference on October 21st. There's so much to discuss! But first…

[:49] Plugs: This is the last call for educational content submissions for RISKWORLD 2027, which will be in New Orleans, Louisiana, from April 18th through the 21st. The deadline for submissions is August 21st, just a few days from the launch of this episode.

[1:07] The submissions link is in this episode's show notes.

[1:10] RIMS-CRMP Workshop. On August 27th and 28th, RIMS President Manny Padilla will be leading the two-day, in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[1:30] RIMS-CRMP Virtual Workshops. RIMS will partner with PARIMA for the RIMS-CRMP Exam Prep on September 1st and 2nd. Registration links are in this episode's show notes.

[1:39] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:55] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[2:08] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[2:18] On October 1st, Brown and Brown will make their RIMS Webinar debut with "The Future of Captives: What Risk Managers Should Think About Now." A link is in this episode's show notes.

[2:30] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:49] On with the Show! I will be joined by a co-host today. She is the RIMS Canada National Conference Committee Chair and RIMScast Canada host, Aaron Lukoni. Aaron and I both wanted to interview our guest today, so we are sharing hosting duties.

[3:08] We are amped up for this interview with Sophie Grégoire Trudeau. The RIMScast Canada video of this interview will be available this week at RIMS.org/Canada.

[3:18] Sophie is the author of Closer Together: Knowing Ourselves, Loving Each Other, a Number 1 bestseller featured in Audible Canada's Best of 2024 list. She is the former wife of Justin Trudeau, former Prime Minister of Canada.

[3:35] We are excited that she will be the closing keynote for the RIMS Canada Conference, which will be held from October 18th through the 21st in Quebec City. Register at RIMSCanadaConference.ca.

[3:46] Today we will get a preview of her keynote and her perspective on risk management. She will open our minds to something called the window of tolerance. Learn more about her at Sophiegregoiretrudeau.com. There's a lot of energy in the RIMScast studio today. Let's get to it!

[4:05] Interview! Sophie Grégoire Trudeau, welcome to RIMScast!

[4:11] Sophie says to everybody listening that she is so, so happy to be here. She comments on the saying that life is not a private affair. She expounds that we have so much to learn from one another. Conversations like these are about business but even more about humanity.

[4:38] Sophie says humanity will never be lost. Whatever we think that AI will do to our world, humanity will reign. We have to make sure we understand humanity to be able to manage it well.

[4:56] Sophie says the etymology of the word risk is uncertain. It comes from the Italian word risco, having to do with navigation dangers. But some historians say it comes from a Greek word meaning root, cliff, or hazard.

[5:47] Sophie says, finance, through history, has changed the word risk to mean not only facing danger, but also the uncertainty surrounding the outcome of a decision.

[6:00] Sophie says she has talked with popes, queens, kings, farmers, teachers, nurses, and others who don't fit the definition of only being in risk assessment.

[5:22] But human beings, whatever they do in life, have been dedicated to countering the true nature of our primal brain, which doesn't like uncertainty.

[6:35] Sophie has a lot of respect and reverence for risk management people, who do this as their daily jobs, because it means that you've got to be seeing the world as it is and not from your perspective. Sophie says she finds that's what the world needs these days.

[7:06] Justin had the chance to listen to Sophie on some other shows, such as the Aspen Institute last year, and a show called Can't Be Sensored. Justin is listening to Sophie's audiobook, and he comments that she does a lot of research.

[7:33] Sophie says she keeps herself grounded, as a teacher and coach, so whenever she gets on a stage, whether she's talking to 50 people or 10,000, she has always done her research and homework. As she ages, she finds the homework is paying off. She never takes it for granted.

[8:24] Sophie says she was on the co-political path for almost 15 years. Assessing risk is all they do every day, and seeing how you can save the most vulnerable in every situation. When people see Sophie at events in high heels and a dress to mingle, that's not what politics is about at all.

[8:47] Sophie says politics is about serving each other, assessing risk, and making decisions with the most discernment, facts, and data, from a regulated state.

[9:00] Sophie says, if you look at the state of the world, so many leaders aren't well-regulated and aren't well-informed. When it comes to risk management, that is of absolute importance.

[9:16] Aaron asks Sophie what qualities define strong leadership in today's workforce and society, when facing uncertainty, competing priorities, and significant changes.

[9:34] Sophie says she is passionate about the answers to that question. Her life's devotion is studying the neuroscience behind personality. That's why she wrote Closer Together, to make it accessible to everybody, whether low-profile or high-profile.

[10:02] Sophie says what is really impressive in a true leader is the human capacity to see the world for what it is and not through who they are. That takes a lot of emotional regulation, emotional maturity, and a lot of work on one's inner world.

[10:17] Sophie introduces the concept of the window of tolerance. AI is coming at an incessant speed. Our brains are not ready for that speed.

[10:40] We're being bombarded with information and new situations at the high rate of efficiency of machines, and we're just trying to adapt. We're all in reaction mode.

[10:54] When we're in reaction mode, and we're not prepared for whatever risk is coming, we are brought back to our own window of tolerance. It's part of being a human being.

[11:17] Sophie says your first childhood bond of attachment, in your pre-verbal years, makes you the leader that you are today. From zero to two years old, you form a bond of attachment called the epistemic bond of trust.

[11:34] The epistemic bond of trust is the first bond of trust you build with another human being, the person who took care of you, and the outside world.

[11:44] It's a dance; a vocal, visual, earful dance, nervous system to nervous system, right brain to right brain, the hemisphere responsible for the emotional development of the human brain. That dance lasts from zero to two years.

[12:08] Sophie says it sets a tone in your nervous system. Did you have a parent who was present? What was the quality, the consistency, the presence, and the playfulness? What is the tone that it set in your nervous system as a child?

[12:27] You carry this in every single adult relationship that you'll ever have, including the ones with your employees or your colleagues.

[12:35] Sponsorships! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. RIMScast is proud of its longstanding relationships with AXA XL, Global Risk Consultants, Alliant, Zurich, and more.

[12:57] Links to many of these episodes are in the show notes. RIMScast sponsorships can be bundled with whitepapers and webinar sponsorships.

[13:05] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them!

[13:17] Reach out to Ted Donovan at [email protected] or reach out to Sales at [email protected]. Let's find the best opportunity for you and your organization.

[13:30] Let's Return to Our Dialog about Windows of Tolerance with Sophie Grégoire Trudeau!

[13:38] Sophie says, when you're put in front of a decision where you have to weigh the risk, and when you know that there are risks implicated in the outcome, people in risk management and finance say there will be no revenue without risk, so you have to take risk. How do you assess it?

[14:02] Sophie says it comes back to your nervous system and your capacity to see the world as it is and not as you are.

[14:08] If your first childhood bond of attachment was insecure, anxious, or disorganized, you're not starting with a solid base of being able to adapt to unusual circumstances. Right now, we are living in abnormal circumstances.

[14:28] Sophie says we're pathologizing a lot of our conditions: from ADHD to so many other psychological conditions, but most experts will tell you we're not sick people; we're just trying to adapt the nervous system we were given to abnormal living circumstances.

[14:45] Sitting at a desk for 12 hours a day, not moving, eating poorly, or not sleeping well will affect our capacity to lead.

[14:55] Sophie says our window of tolerance is like a bell curve between an upper and a lower line. Your window of tolerance is within those two lines. Some people's bell curve is halfway between the two lines. Some people are more at the peak; some are more at the flat line.

[15:36] It depends on how you were able to construct your capacity to adapt to change from what you received in early childhood, from your experiences through childhood, and whether you know or not about your own trauma and suffering.

[15:51] Sophie says suffering is a normal part of human life. Trauma is what happens when we don't look efficiently at our suffering and when we don't know how to manage our emotions, whether you're a parent, a student, or a leader in a position where you have to take risks.

[16:15] Sophie says our window of tolerance is a good metaphor for how we assess risk and how we lead teams into risk, and how we can mitigate risk and the outcomes of risk. Sometimes we face bad situations. How do we adapt to that?

[16:37] Aaron mentions it's our emotional regulation. Sophie says, from the beginning to the grave, our capacity to emotionally regulate ourselves, especially in difficult situations, makes us courageous leaders or not.

[16:56] Sophie says, in this window of tolerance, we can insert a more precise marker for capacity to adapt, which is Heart Rate Variability (HRV). This is your capacity to go from a very stressful situation back to homeostasis, a balanced nervous system.

[17:13] Sophie asks, What are you presented with in your company? What are your clients asking for? How much risk are you assessing, and how can you take really difficult situations and come back to a regulated team, a regulated balance sheet, and a regulated vision for your enterprise?

[17:31] Sophie says, as much as we are at risk with technology, it is also an ally because it gives us facts and data, which we cannot push away. Science is on our side when it comes to leadership, because we understand the importance of regulation at every step.

[17:53] One More Quick Break! RIMS, The Foundation for Risk ManagementTM, is dedicated to shaping the future of the profession. By contributing, you are strengthening the global risk management community and investing in the future of the industry.

[18:13] The Foundation also supports the Spencer Educational Foundation but has a different mission. The Foundation focuses on providing opportunities for those professionals who have already decided to enter risk management and are just getting started.

[18:27] You can learn more about the Foundation by visiting www.RIMS.org/FRM.

While you're there, be sure to check out information about the Susan Meltzer Scholarship Fund, which was established to honor Ms. Meltzer, who was RIMS President in 1999 and 2000.

[18:46] Susan Meltzer was a cherished RIMS President and contributed so much to RIMS and the greater risk community. Learn more at RIMS.org/FRM.

[18:54] Let's Return to Our Interview with RIMS Canada Conference Keynote Sophie Grégoire Trudeau!

[19:03] Justin asks Sophie for an example of a person she has met with a broad window of tolerance. Sophie says she is quite discerning when it comes to picking people like that.

[19:29] One man Sophie has been impressed with in his capacity to regulate emotionally, would be Barack Obama in his personality; his capacity to stay regulated in front of the obstacle.

[19:53] Sophie refers to what has been done in Canada in the past 15 years, and people who have sacrificed their families and have been so courageous in the face of uncertainty.

[20:05] Sophie says Chancellor Angela Merkel from Germany is the type of woman who has a very stoic way of dealing with conflict.

[20:17] There are so many. There are a lot of people who have impressed Sophie who are not known to the public. She has also seen it in her home, including her former partner and colleagues. Sophie has a lot of respect for public servants. [20:54] Sophie says, obviously, the Dalai Lama and Buddhist monks she has met and whom she admires.

[21:04] Sophie says discerning spirituality is wisdom from a place where you are in such deep service that every decision you make, even risk decisions, looks to a greater force that can guide us through its humanity, in cohesion and integrity, qualities that make a leader outstanding.

[21:54] Justin views Canada as a collaborative, consensus-driven nation. He asks Sophie if there are uniquely Canadian approaches to leadership, wellness, or community that have value on the global stage.

[22:11] Sophie says, Yes. She has seen it from the inside out. She had such a unique position. She says another great quality of a leader is staying close to people and not building walls between them. You come from a place of non-threat, so differences are not a threat but a plus.

[22:34] Sophie thinks that Canada sits on this basin of such talent and diversity that allows Canadians in their daily lives not to tolerate risk and difference but to accept it as part of their way of living. Sophie speaks of this on shows. Canada is not at risk of extremism.

[23:06] Sophie says Canada has a discerning social hand of wisdom. Canada counts on it. They need to keep feeding that hand. They can't take it for granted.

[23:26] Sophie mentions that Canada has diversity, has more women in the boardroom, and in the past decade, how many women have run in politics has changed, which has changed the landscape as well.

[23:41] Sophie says the data has proven that more women in governance, in the boardroom, and in politics means more empathy, more open leadership, and more inclusivity, and the world needs this now, on all levels. Canada is proud of this. Every day is another day to get better.

[24:03] Sophie says that all the best leaders she has spoken to, whether Olympic athletes or trainers, doctors, or risk assessment specialists, it's about every time you do well, you celebrate the small wins, but you always know you can do better.

[24:22] How is it that we can do better? How is it that we can adapt better and make everyone better at the same time? In co-politics, when we invest in the middle class, it's because we know the data shows that it lifts poverty up.

[24:40] Sophie says in a company, if you celebrate diversity, include people, celebrate the small wins, and elevate in your style of leadership, instead of dominating, you'll give yourself better chances to create a performing, cohesive team that can deal with great troubles.

[25:12] Justin says, Sophie, we are so excited to see you in Quebec on October 21st at 8:30 a.m. Sophie is a morning person.

[25:52] Aaron asks, If you could leave risk leaders around the world with one idea from Closer Together, that would help them build stronger organizations, not just stronger people, what would you hope that they're going to take away from that?

[26:05] Sophie says, Know yourself. Know yourself. Get to the core of who you are. Leave all the titles, accomplishments, and risks aside for a moment and go back to who you are and how you function.

[26:22] Sophie mentions the 7 Cs: Competence, Creativity, Courage, Communication, Coaching, knowing your inner Compass, and Citizenship. It starts by knowing who you are as a human being and becoming the best leader that you can be. Aaron thanks Sophie for that great advice.

[27:22] Special thanks again to Sophie Grégoire Trudeau for joining us here on RIMScast. Catch the video dialog on RIMScast Canada, which you can find at RIMS.org/canada. Of course, remember to register for the RIMS Canada Conference at RIMSCanadaConference.ca.

[27:40] We will see you in Quebec City from October 18th through 21st.

[27:45] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[28:02] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[28:19] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[28:32] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[28:44] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Sponsorship Opportunities Available

RIMScast Canada — Episodes Now Live — Watch the full video with Sophie Grégoire Trudeau.

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Now Open! | www.rims.org/ERM2026 | RIMS ERM Global Award of Distinction nominations open through Aug. 21!

RISKWORLD 2027 Registration | RIMS members can lock in 2026 rates now through Sept. 4 | Education Content Submission Through Aug. 21.

RIMS Certification Week: Sept. 21‒24 | Complimentary For All

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today.

The Strategic and Enterprise Risk Center

RIMS, the Foundation for Risk Management

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

RISK PAC | RIMS Advocacy

RIMScast on YouTube!

RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available

Sponsor RIMScast — [email protected]

https://sophiegregoiretrudeau.com/

Upcoming RIMS-CRMP Virtual Workshops:

RIMS-CRMP Exam Prep Workshop — Live In NY — Aug 27‒28!

RIMS-CRMP Exam Prep with PARIMA | Sept 1‒2

Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars:

RIMS.org/Webinars

"The Future of Captives: What Risk Managers Should Be Thinking About Now" | Sponsored by Brown & Brown | Oct. 1, 2026

"RIMS Student Series: Classroom to Career Part 1" | Sept. 1, 2026

"RIMS Student Series: Classroom to Career Part 2" | Sept. 9, 2026

"Beyond the Loss Count: What Property Claims Reveal about Frequency, Severity, and Resilience" | Sponsored by AXA XL | Sept. 17, 2026

RIMS Certification Week: Sept. 22‒24 | Complimentary For All

Related RIMScast Episodes:

"Distilling Risk and Resilience with Manjit K. Minhas"

"On Resilience with Amanda Lindhout"

"Emerging Risks and AMRAE's RMIS Panorama 2026 with François Beaume"

"Energy Efficiency, Mental Health Awareness, and Risk with Nick Quigley"

"Live from Calgary at the RIMS Canada Conference 2025"

Sponsored RIMScast Episodes:

"48 Hours From a Storm: What to Do Before A Hurricane Strikes" | Sponsored by Global Risk Consultants, a TÜV SÜD Company (New!)

"AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL

"Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL

"The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant

"Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent

"Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant

"The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL

"Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich

"Understanding Third-Party Litigation Funding" | Sponsored by Zurich

"What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog

"Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor

"How Insurance Builds Resilience Against an Active Assailant Attack" | Sponsored by Merrill Herzog

"Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RISK PAC | RIMS Advocacy

RIMS Strategic & Enterprise Risk Center

RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

Want to Learn More?

Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.

Have a question or suggestion? Email: [email protected].

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

About our guest: Sophie Grégoire Trudeau

Author. Keynote Speaker. Mental Health Advocate.

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews RIMS SERMC Member Eric Lobser about his career path at Spire Inc. They discuss his start in Budget Analysis at Laclede Gas, which eventually became Spire Inc. He moved into Operations, Treasury, and then Strategic Planning, including Acquisitions. He continued his career as VP of Enterprise Risk Management. Eric shares how he grew into that position, using knowledge he had gained from all the departments he had worked with. He tells about his early presentations to the Board.

Eric explains what ERM means to him, and how ERM helps companies manage risks, including reputation, engage in opportunities, and make the resource allocation decisions that lead to success and mitigate failures.

Listen for Eric's idea to improve the ERM acronym.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. Our guest is Eric Lobser. He was a practitioner in the natural gas sector for 35 years. We're going to get his ERM philosophies today. But first…

[:42] RIMS-CRMP Workshop. We are delighted to announce that on August 27th and 28th, RIMS President Manny Padilla will be leading the two-day in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[1:02] RIMS-CRMP Virtual Workshops. RIMS will partner with PARIMA for the RIMS-CRMP Exam Prep on September 1st and 2nd. Registration links are in this episode's show notes.

[1:13] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:28] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:41] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[1:51] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:10] On with the Show! We will take a deep dive into Enterprise Risk Management with Eric Lobser. Eric recently retired from a 35-year career in the natural gas sector. He remained with one company that eventually became Spire Energy.

[2:26] Eric is also a member of the RIMS Strategic and Enterprise Risk Management Council.

[2:32] We will discuss his career journey, how one role led to the next before settling on Enterprise Risk Management, and his philosophies on what makes ERM truly valuable and why the acronym could use an upgrade. Let's get to it!

[2:52] Interview! Eric Lobser, Welcome to RIMScast!

[3:17] Justin and Eric met last year during a webinar. Eric has a fascinating career. His entire career was at Spire. Originally, it was Laclede Gas Company. Then it became The Laclede Group, and then Spire. Eric's career was 35 years and some months long.

[3:53] Justin says that shows our audience that you can have a risk career at one company. You don't need to jump around. If you're doing well, if you're comfortable, if the company's treating you right, and you're doing a good job.

[4:10] Eric says the risk career came later in his life. It was the culmination of a lot of other things he did. He had a varied set of positions at Spire. Over time, it was multiple types of companies. As you go through CEOs, things change.

[4:31] Eric says he was there for about five CEOs and got to see many different sides of how business operates.

[4:49] Eric says he graduated from Boston College in 1990. It was a tough job market. He wanted a job on the East Coast, but it was an expensive place not to have a job. He went back home.

[5:08] His stepfather had a contact at the Laclede Gas Company. He interviewed, and they offered him a position, which he took. Within two weeks, he thought he would be crazy to stay at that company more than a couple of years. He thought it was odd they had a few computers.

[5:29] Eric came from a school with a library full of computers. You had to sign up to use them. It taught him to use his mind, and it instilled patience. Those elements have been valuable to Eric's career.

[6:06] Eric started as a budget analyst and did that for about a year and a half, in the corporate office in downtown St. Louis.

[6:33] Then he was fortunate to move to Operations to do the same sort of work with all the department heads to help them with their budgeting, to translate things from Operations into financial terms and get better relationships with the people who ran the business.

[6:53] Eric says he got to understand the business better from the view of the boots on the street.

[7:04] Justin asks if risk management and ERM came onto Eric's radar in August 2001, when he became the Managing Director for Strategic Planning and Corporate Development.

[7:18] Eric says that he had also worked with property insurance in Treasury. There's a big commodity risk at a natural gas company. There are also market risks and credit risks.

[7:33] Eric says Strategic Planning was new to The Laclede Group, taking the budget period and extending it out three years, rolling in strategy and planning.

[7:49] Eric helped them to develop software for business planning, custom-made from Access, to help support the Balance Scorecard they rolled out. It included something for Initiatives for making improvements, which were tied to Metrics.

[8:11] There were Action Items. There was a section where you laid out your different risks and what you were doing to mitigate them. The Action Items often required support from other areas. The software would put that into their business plan so they could see it and collaborate.

[8:33] Eric says risk management and collaboration are hand-in-hand.

[9:09] Eric speaks of a change in leadership, where they went from mostly looking at operational excellence and continual improvement to a more external look at other businesses, at ways to diversify within the gas industry: storage, pipeline, E&P, and more.

[9:40] That was the beginning of the thought processes Eric would go through, looking at different businesses; what can go right with them, and what can go wrong.

[9:57] Part of modeling acquisitions is taking a look at those scenarios and looking for the probability of a downside, what that downside looks like, and what will drive it. What has to go right to have the best case? What does the base case look like? What are those probabilities?

[10:20] Eric says that was the beginning of understanding how risk and business go hand-in-hand. They can't have opportunity without risk. There's no reward without risk. Understanding that was an element of that job.

[10:39] Eric was fortunate to have a tremendous boss during that time who helped him gain critical thinking about how things operate.

[10:58] Eric says when they were looking at how other companies operate, they were companies within the gas industry, to stay within their knowledge base, and simplify their business, within the natural gas value chain, from wellhead to burner tip.

[11:30] They were looking at exploration & production, gathering & processing, pipelines, underground storage, down to uses for it, including compressed natural gas for vehicles and local distribution utilities.

[11:58] Justin suggests that the 13-year period when Eric was in Strategic Planning and Corporate Development, holding several positions, was a key time in his career. Eric says yes, and it was his favorite period. He had gone to school for investment banking and acquisitions.

[12:42] Eric says, at the same time, it was a tremendous amount of work. He thought maybe it wasn't the best place to spend his lifetime because of the level of work and stress involved.

[13:04] Eric was married and raising a family, and that had to come into play, as well. He says while his wife was extremely patient with him during all those times, sometimes working around the clock, he felt it wasn't the right long-term opportunity for him.

[13:20] Eric says one of the things he learned when he was doing acquisitions was developing models for how utilities make money. Eric worked with people who did rate cases at the company, to understand what drove cash flow.

[13:47] In doing that, Eric learned how regulations work and how tariffs work. That led to asking himself, if this isn't the right career for me, taking a look at something next to it, which was regulatory and government affairs.

[14:27] Eric had already started to learn about it. Once he was in charge, he based it on Missouri regulations. The first acquisition was a company in Kansas City, Missouri.

[15:05] The second acquisition was Alagasco in Alabama, and that was a completely different type of ratemaking approach that was annual. They had a formal department. Eric was asked to develop something more formal for the entire company.

[15:21] Eric says then they acquired Energy South, which brought them into Mobile and also Mississippi, a third rate jurisdiction. There was a mountain of information to climb. His drive and thirst for knowledge helped him up the curve pretty quickly.

[15:53] Eric says relationships and the stuff between the lines are just as important as what you can read about and study.

[16:12] Eric says, pulling from his enterprise risk career, one of the impacts is not just financial, but reputation. Reputation is a huge element of rate setting. Your reputation precedes you to the commission that oversees rate case litigation and the parties to the case.

[16:47] The parties that are involved include industrials, AARP, low-income groups, an energy efficiency group, and other parties.

[17:01] Understanding where they're coming from, and what they're trying to achieve, and working towards something that gives all parties some of what they want, is a key element.

[17:18] If you were a bad operator; if you had a significant incident that showed you weren't a safe operator, or you weren't treating your customers well, then going into the rate case, people had their minds set that they wanted to give you not a rate increase but a rate reduction.

[17:40] The value of the relationships and the reputation, the stuff that is gray and in between the lines, is not just about what the numbers are but who you are as a business.

[17:56] A Quick Break! Many fantastic RIMS events are coming up in 2026. The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[18:12] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[18:29] Save the dates: October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[18:45] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[19:00] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is now open.

[19:10] Through August 21st, you can nominate a program for the RIMS ERM Global Award of Distinction. If you know of an ERM Program that is award-worthy, we want to hear about it. A link to the nomination form is in this episode's show notes. Visit RIMS.org/ERM2026.

[19:29] We're already looking to RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st! The call for session proposals is now live and will stay active through August 21st.

[19:44] RIMS members can exclusively register by September 4th for the best rate. And get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes.

[20:04] Let's Return to Our Interview with Eric Lobser!

[20:31] Justin asks about compliance at a natural gas company. Eric says his career at a critical infrastructure utility delivering a relatively volatile product to people's homes was very safety-oriented with a lot of rules, regulations, and areas of compliance.

[21:04] The whole industry faced a need to replace some of its aging infrastructure. That started when Eric was in Treasury and trying to think about how they would afford all the replacements they were going through.

[21:22] It came again when Eric was in Regulatory, trying to understand the balance between safety and rates and what's best for the business and what's best for the customer.

[21:53] Compliance is not something you can decide to do a little bit or a lot. You have to meet at least the minimum standards. Spire was always at that point but also found the benefit of going beyond that, to deal with it a little bit more strategically.

[22:14] Spire was generally a group that looked at opportunities to do replacement in a way that overall was more cost-effective, exceeding requirements on their compliance. Compliance was an enterprise risk.

[22:34] Eric says it was not just making sure they were in compliance, but also what the cost of compliance is and what if people change their minds and all of a sudden want us to do this or that? [22:53] Being a regulated utility, your rates are dependent on somebody deciding you deserve to have this.

[23:02] Compliance was more often not physical replacement but putting in another pipe beside the old pipe and terminating the old cast iron pipe that had degraded and become a safety issue.

[23:26] Spire always paid attention to where they were getting leaks or water potentially getting into the system and areas of geography that had similar types of risk.

[23:39] Spire took a strategic approach to look at the information they were getting and figure out where to go and do wholesale changes rather than responding to risks as they popped up.

[23:54] Eric says that was the approach where they took compliance and said if we do more, it probably can be better for us and better for the customer to take a better strategic approach.

[24:19] Eric says it's inconvenient and sometimes problematic for people when there are workers in the street. Part of Eric's career was dealing with claims and issues that can happen with construction. The construction was necessary to make sure the system was safe.

[24:53] Eric says the most prevalent claims were when they were doing excavation and hit something unmapped, like an underground dog fence or sprinkler system. To be cost-effective, they used reliable outside partners to replace these.

[26:44] Eric says that every year, when he was in Strategic Planning, he would help put on a two-day conference for the Board to review company strategy and present new ideas.

[27:01] Any time they found an acquisition opportunity that met the muster of the executives, they presented that to the Board.

[27:!3] Eric says the Board is extremely interested in rate cases, which are the heart and soul of a utility's business.

[27:28] Something Eric found helpful later in his career, doing regulatory work, was to pull together parties without overlapping interests, such as the Board and the Public Service Commission, to help them find agreement on why something was beneficial for the customers.

[28:58] Eric says, for the first time or two, presenting to the Board was frightening. He was fortunate enough not to be leading the presentations. He reported to officers who helped develop the business planning and strategy. They helped Eric work his way into bigger roles.

[29:32] Eric says when he became more involved in doing the modeling, one time he was called by the CEO to speak to the Board while he was on a family vacation. His wife reminds him of this. The Board was very interested in the upside case and downside case of a model scenario.

[30:31] Eric says in that phone call he had to give the Board a rigorous view of why they should spend $1.1 billion on this acquisition. While exciting, Eric says presenting to the Board was a very stressful part of the job. They're relying on things that he's saying to them.

[31:12] Eric says acquisitions have their own timeline and they develop however they want to. It's not like going to the grocery store to pick up something. When something pops, it pops, and it's all hands on deck. You don't stop until the job is done.

[31:35] One more Quick Break! RIMS, The Foundation for Risk ManagementTM, is dedicated to shaping the future of the profession. By making a contribution, you are strengthening the global risk management community and investing in the future of the industry.

[31:55] The Foundation also supports the Spencer Educational Foundation but has a different mission. The Foundation focuses on providing opportunities for those professionals who have already decided to enter risk management and are just getting started.

[32:09] You can learn more about the Foundation by visiting www.RIMS.org/FRM.

While you're there, be sure to check out information about the Susan Meltzer Scholarship Fund, which was established to honor Ms. Meltzer, who was RIMS President in 1999 and 2000.

[32:28] Susan Meltzer was a cherished RIMS President and contributed so much to RIMS and the greater risk community. Learn more at RIMS.org/FRM.

[32:36] Let's Return to Our Interview with Eric Lobser!

[32:52] Eric says that it seems to him that if people viewed Enterprise Risk Management more as Enterprise Value Management, they would better understand that it's more about what you need to do to improve the value of your company.

[33:19] In Eric's Strategic Planning days in Corporate Acquisitions, he learned that Expected Value is about changing probabilities, not just the impact of those probabilities.

[33:32] Eric says Enterprise Risk Management does a great job of addressing both the likelihood and the impact of things going wrong and things going right. What you're building with ERM is value. You're adding to the value of the company.

[33:46] Eric thinks more people would engage. It would resonate with a lot of the corporate cultures to look at ERM as a way to build value for the company.

[34:08] Justin says that for almost eight years, Eric was the Spire VP of ERM. Justin asks if Eric was able to hit the ground running, going from Regulatory and Government Affairs into ERM.

[34:32] Eric says the position started with Insurance, and then Commodity Risk Management, other elements of the business that helped him up the learning curve. From Acquisitions, Regulatory, Operations, and Customer Service, Eric understood a lot about the business.

[34:55] Eric says having a couple of years when he was in charge of Spire's Insurance program, including Captive Management, where you retain risk instead of transferring it, was a great transition to eventually getting Enterprise Risk.

[35:31] Eric says he read every book he could get his hands on in the time he had. He noticed some of the things they were doing were based on ISO 31000. Eric read through ISO and COSO. COSO felt very intricate and detailed.

[36:10] Eric asked himself what the potential was that we were going to adopt something. The culture of the business manages the risk. ERM oversees how the business manages risk. Eric wanted to pick a framework that fit more with Spire's corporate culture.

[36:39] Eric says ISO 31000 is adjustable. He felt like it was a good fit. It was more about strategy and enterprise than Spire's focus had been. It was not just about what could go wrong and what they should be concerned about happening, but what must go right.

[37:22] Eric says that looped in what he learned in Strategy, what they have to do to be successful, and what could derail them from that. Spire transitioned a little bit less away from risks and more to strategic imperatives and what they had to do to achieve their strategic vision.

[38:02] Justin asks about ERM conferences and what makes a great ERM session. Eric says it's a practitioner who has lived through it with real-world experience on what works, what doesn't work, and why it didn't work.

[38:18] Eric says everything's specific to the company, so what works for one may not work for another. An experienced practitioner brings a level of credibility that is important. Eric wants a presenter who focuses on what helps a company be more successful in executing its strategy.

[38:41] Eric says a lot of presentations go into risk registers and software, but in the end, risk management is change management, with very complex systems. The presenter should speak to engaging the business, getting different areas to collaborate, and making better decisions.

[39:31] Eric says those decisions are about how you allocate resources. Resources are limited. You can't do everything, so you prioritize.

[39:41] ERM helps you to prioritize better, using a process of identification and assessment, to help you understand how important a risk is in relation to other risks, how soon it needs to be dealt with, and what level of mitigation and controls you already have in place.

[40:13] Eric says, ERM helps you determine if this risk is extremely well-managed and there are resources you can take away from it to put toward a risk that's less well-mitigated.

[40:22] Eric says a good ERM session presenter talks about how ERM helps a corporation make better decisions and effectuate those resource allocations that then help that company to be more successful. That's what ERM is about, and when somebody talks about that, it resonates.

[41:02] Eric says when he hears a concept that really resonates with him, he tries to pull those concepts together. He has used principles from the Enterprise Risk Oversight Committee.

[41:44] Justin says the Global ERM Award of Distinction call for submissions is open. You can send in those nominations now. RIMS Global ERM Award of Distinction nominations are open through Aug. 21!

[41:57] Justin asks Eric what makes an Enterprise Risk Management program award-worthy. Eric says some of it is going to be based on the eye of the beholder. Enterprise Risk should be customized to the culture. People are going to view what makes a great program differently.

[42:28] Eric says that the SERMC is looking for, with the diverse perspectives of the members, a program that is well-integrated into Strategic Planning, helps the business make decisions, and most importantly, helps it be more successful, with fewer downturns, than their competitors.

[43:09] Eric says the business manages risk. ERM can help oversee what they're looking at and turn its attention to important things, and help determine the best ways to mitigate or treat risk, or support what they are doing, so the strategy prevents threats from derailing the company.

[43:33] Eric says, in the end, a company that is consistently successful is probably the mark of a good Enterprise Risk Management program.

[43:51] Justin says, we're going to see you again on November 19th and 20th in Columbus, Ohio at the RIMS ERM Conference. You can get your nominations in now for the RIMS Global ERM Award of Distinction. We'll have a special awards ceremony, like we do every year.

[44:07] Eric, it has been such a pleasure to have you on RIMScast! I look forward to seeing you in Columbus.

[44:19] Special thanks again to Eric Lobser for joining us here on RIMScast. We appreciate him and all the great work he does for the RIMS SERMC. The call for nominations for the RIMS Global ERM Award of Distinction is open; a link is in this episode's show notes.

[44:36] There are specific attributes that will make a nomination truly award-worthy. Submit your nominations today!

[44:42] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[45:00] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[45:16] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[45:29] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[45:41] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Now Open! | www.rims.org/ERM2026 | RIMS ERM Global Award of Distinction nominations open through Aug. 21!

RIMS Certification Week: Sept. 21‒24 | Complimentary For All

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

RISKWORLD 2027 Registration | RIMS members can lock in 2026 rates now through Sept. 4 | Education Content Submission Through Aug. 21.

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today.

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

The Strategic and Enterprise Risk Center

RIMS, the Foundation for Risk Management

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

RIMScast Canada — Episodes Now Live

RISK PAC | RIMS Advocacy

RIMScast on YouTube!

RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available

Sponsor RIMScast — [email protected]

Upcoming RIMS-CRMP Virtual Workshops:

RIMS-CRMP Exam Prep Workshop — Live In NY — Aug 27‒28!

RIMS-CRMP Exam Prep with PARIMA | Sept 1‒2

Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars:

RIMS.org/Webinars

"RIMS Student Series: Classroom to Career Part 1" | Sept 1

"RIMS Student Series: Classroom to Career Part 2" | Sept 9

RIMS Certification Week: Sept. 22‒24 | Complimentary For All

Related RIMScast Episodes:

"Board Reporting and ERM in 2026 with Trisha Sqrow and Suzanne Christensen"

"The Future of Strategic Risk Management" with John Button

"Mid-Year Risk Roundup 2026 with Morgan O'Rourke and Hilary Tuttle"

"Emerging Risks and AMRAE's RMIS Panorama 2026 with François Beaume"

"Strategy and Change with Ward Ching and Aaron Olson"

Sponsored RIMScast Episodes:

"48 Hours From a Storm: What to Do Before A Hurricane Strikes" | Sponsored by Global Risk Consultants, a TÜV SÜD Company (New!)

"AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL

"Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL

"The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant

"Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent

"Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant

"The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL

"Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich

"Understanding Third-Party Litigation Funding" | Sponsored by Zurich

"What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog

"Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor

"How Insurance Builds Resilience Against an Active Assailant Attack" | Sponsored by Merrill Herzog

"Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RISK PAC | RIMS Advocacy

RIMS Strategic & Enterprise Risk Center

RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

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About our guest: Eric Lobser, SERMC Member

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews APIW President Dawnmarie Black about her role at Amwins and her journey to get there, starting with clerical work in her father's insurance agency. Dawnmarie speaks about the great training program she received early in her career, being mentored, joining an association board, and growing her career through being mentored, networking, connecting, building relationships, being mentored, and leadership. She emphasizes communication and transparency as the basis of relationships. Justin and Dawnmarie discuss upcoming trends in risk, recruiting talent, and retaining professionals with a culture of trust and development. Dawnmarie speaks of Amwins's innovative outreach to underrepresented children and HBCUs about the insurance industry. Finally, Dawnmarie focuses on her association work and the upcoming APIW 50th Anniversary Gala on November 3rd in NYC.

Listen for themes of communication, connection, and relationship building.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. We will be joined today by Dawnmarie Black of Amwins. She is also the President of the Association of Professional Insurance Women (APIW). But first…

[:42] RIMS-CRMP Workshop. We are delighted to announce that on August 27th and 28th, RIMS President Manny Padilla will be leading the two-day in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[1:02] RIMS-CRMP Virtual Workshops. RIMS will partner with PARIMA for the RIMS-CRMP Exam Prep on September 1st and 2nd. Registration links are in this episode's show notes.

[1:12] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:28] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:41] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[1:51] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:08] On with the Show! Our guest today is Dawnmarie Black. She is the Senior Vice President and Client Relationship Manager at Amwins, and she is the President of the Association of Professional Insurance Women (APIW).

[2:26] We'll talk a bit about her career journey, what she believes it takes to attract and retain talent in insurance and risk management, and the interconnected risks that are on her radar. Let's get to it!

[2:39] Interview! Dawnmarie Black, Welcome to RIMScast!

[2:48] Justin says, you know Dawnmarie Black from Amwins, and she is also the President of the Association of Professional Insurance Women (APIW). Justin is wearing their pin.

[3:21] Dawnmarie is a Client Relationship Manager at Amwins. She builds relationships with retail trading partners. It's a strategic national, corporate relationship across the U.S.

[3:35] Dawnmarie works and collaborates with their market placement teams or carrier strategy teams and Amwins internal brokers.

[3:44] There's a lot of collaboration to ensure that Amwins brokers are finding the opportunities and so the client and Amwins understand how Amwins fits into their strategic priorities, and to grow both businesses.

[4:04] Dawnmarie says she and her team are there to support the retail brokers and also support Amwins's internal brokers in their growth initiatives.

[4:13] Dawnmarie joined Amwins in September of 2025.

[4:32] Dawnmarie's father owned an insurance agency in Pittsburgh, Pennsylvania. She worked at his agency from age 16. She went to Allegheny College in Meadville and worked at a local agency. She did a lot of mailroom, file room, cold calling, and CSR work.

[4:59] Dawnmarie thought she would ultimately move up in her father's agency and someday be the succession plan. He sold it, and Dawnmarie went to work for Chubb in their training program. It was a phenomenal start into this industry. They had a great training program.

[5:16] Dawnmarie says a lot of her group are still colleagues and friends today, which set the stage for her career.

[5:21] Dawnmarie says she moved through underwriting and brokerage, she built and launched an IT system at Aon, and went back to underwriting for a while. Most recently, Dawnmarie was the head of market development for the Americas at Lloyd's of London.

[5:54] Dawnmarie says it was an incredible role to understand what's happening in the global marketplace, at a 30,000-foot view, working with coders in the U.S. very closely. This is how she got to Amwins. She was promoting the Lloyd's market to the Amwins leadership team.

[6:37] Justin finds it fascinating that Dawnmarie was not the successor to her father but made her own way in the insurance industry. She learned it from the ground up. She has touched every part of the industry except for claims. She has come full circle, working with retailers again.

[7:04] Dawnmarie says it has been a very interesting and fulfilling journey. She feels like it has placed her well to be in a position like this, to be working with Amwins's retailers.

[7:36] Dawnmarie says she establishes trust with people through communication and transparency. She tells it like it is. She also will go the extra mile, out of her way to make sure things get done. At Amwins, there is a service leadership culture.

[8:01] Dawnmarie says she is there to help; to help direct, to help move things, or to help resolve things, at a very strategic, macro level. That fills her cup. She owns up to what she is promising.

[8:19] Dawnmarie says, if she tells you she is going to get something done, she will get it done, to the best of her ability, or there will be a very good reason why it hasn't been done. It's important to communicate that.

[8:39] Dawnmarie says she thinks that the next generation of leaders exhibits these qualities. They are thoughtful and demanding and have high expectations. When Dawnmarie entered the industry, the culture required her to prove herself. There was a way to approach the business.

[9:14] Dawnmarie says the Chubb training program was 12 weeks in their training center in Warren, New Jersey. You learned the policy forms, how to work with insureds, and understand needs. You understood risk. You learned underwriting and pricing.

[9:36] The emphasis was understanding the business. Unfortunately for our young risk professionals, there are not as many programs like that available today.

[9:49] Dawnmarie says you find companies that are putting training programs together. Amwins has an underwriter development program that is outstanding. A lot of the business produced in Amwins comes from those who have come through the UDP or a broker development program.

[10:05] Dawnmarie says our industry has gotten away from the super-formalized training programs, probably to the detriment of our younger professionals, but we're all stepping in and finding ways to fill those gaps.

[10:30] Justin concludes that Dawnmarie had an analog, hands-on, pen-and-paper training program.

[11:06] Dawnmarie joined the APIW early in her career. She would go to two or three monthly luncheons a year. Then she left APIW for a few years.

[11:26] About 10 years ago, while she was at Lloyd's, Dawnmarie was asked to join the board of APIW and get more involved. There, Dawnmarie held the roles of Co-head of Programming, then Treasurer, and ultimately, she was asked to step into the President position.

[11:46] Dawnmarie says she has seen the incredible evolution of APIW, going from 500 members to 3,500 members in 11 chapters across the U.S. with 60 corporate sponsorships. APIW has grown since the first time Dawnmarie was involved.

[12:20] Dawnmarie says that in her early 40s, she went to her first Women's Leadership Conference by the Insurance Industry Charitable Foundation (IICF). There weren't a lot of events like that then. Dawnmarie was struggling to figure out what she wanted in her career.

[12:50] At this Women's Leadership Conference, a woman spoke on the importance of getting involved, joining boards, and growing your network. Dawnmarie had always done that organically, but she hadn't done it thoughtfully. It was client-driven.

[13:08] Dawnmarie went back to management and said that IICF board positions go to sponsor companies. She asked if Lloyd's would sponsor IICF and could she be chosen as the board member? That's where she got her first board experience.

[13:24] Dawnmarie moved up and ended up Co-chair of the Boston Chapter. She learned a lot, and it prepared her for APIW.

[13:41] A Quick Break! Many fantastic RIMS events are coming up in 2026. This is a last call for registration for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through the 12th at the Grand Hyatt on the San Antonio River Walk.

[13:58] Visit RIMS.org/Events for registration information. The hotel cutoff date was July 10th. Reservations may still be made after the hotel cutoff date, subject to availability; however, the negotiated group rate is no longer guaranteed, so reserve now.

[14:14] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[14:25] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[14:41] Save the dates: October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[14:58] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[15:13] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is now open.

[15:22] Through August 21st, you can nominate a program for the RIMS ERM Global Award of Distinction. If you know of an ERM Program that is award-worthy, we want to hear about it. A link to the nomination form is in this episode's show notes. Visit RIMS.org/ERM2026.

[15:41] We're already looking to RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st! The call for session proposals is now live and will stay active through August 21st.

[15:56] RIMS members can exclusively register by September 4th for the best rate. And get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes.

[16:16] Let's Return to Our Interview with APIW President Dawnmarie Black!

[16:40] Dawnmarie says that the importance of building relationships with communication and transparency applies to risk managers as well.

[16:49] Dawnmarie says that risk managers getting to know their brokers and underwriters, building relationships, telling their story, building trust, and understanding the insurance and why a specific carrier is being suggested goes a long way if there's a claim or wording issue.

[17:47] Dawnmarie says with the relationships established, with the ability to pick up the phone and say, "We need to have a conversation," you've already set the stage.

[18:11] Dawnmarie says emerging risks the insurance industry needs to pay attention to in the next three to five years include addressing AI. Will AI drive margins down? We need to leverage it to do our jobs better. We can't just decide that we're simply going to depend on it.

[18:37] AI exists. It's there as a tool. We need to prepare our people to be able to assess it, analyze it, understand it, and program the prompts. The best prompt writers are getting the best results.

[18:56] It doesn't mean it's a perfect result, so you need the ability to communicate, analyze, and explain why the output makes sense and how it applies.

[19:20] Another emerging need is for more and more data and the ability to depend on that data, using AI to help understand it and being able to explain the data to the board why they can take a larger retention, or why we need more cover in this area.

[19:54] Dawnmarie talks about weather-related events. Catastrophic events aren't going away; they're getting worse. Illinois has had more convective storms this year than any other state. It's unexpected and unprepared for.

[20:16] The unexpected storm volume creates a shift for the underwriters, clients, and brokers, making sure they have the data to understand what's been exposed and what's been impacted.

[20:30] The models need to address these shifts. We need, as an industry, to be pushing for that: the stronger the models, the more differentiated the models we can have.

[20:42] Maybe that's where AI plays a great role, helping us in the changing and adaptation. These are trends Dawnmarie watches. She is so impressed with the data that Amwins has to work with.

[21:06] When you have that good data, the world opens up to capital and new strategies. It makes a big difference in where an organization will go strategically. That impacts everybody.

[21:23] Sponsorships! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. RIMScast is proud of its longstanding relationships with AXA XL, Global Risk Consultants, Alliant, Zurich, and more.

[21:44] Links to many of these episodes are in the show notes. RIMScast sponsorships can be bundled with whitepapers and webinar sponsorships.

[21:52] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them!

[22:05] Reach out to Ted Donovan at [email protected] or reach out to Sales at [email protected]. Let's find the best opportunity for you and your organization.

[22:18] Let's Conclude Our Dialog with APIW President Dawnmarie Black!

[22:54] To help make insurance careers more appealing to young professionals and career changers, Dawnmarie asks you to stop saying, "I just fell into insurance." We have a story to tell.

[23:13] There is a reason someone came into this industry. It probably wasn't planned, but how they got started and why they stayed; we need to talk more about why people stay in insurance. Because they love it! It is a wonderful ecosystem for growth and travel. It's stable.

[23:37] APIW just held Intern Days, one in New York, one in Chicago. This was their first year in Chicago, and about 20 people came. It was their second year in New York. About 50 came.

[23:51] Dawnmarie says we do this out of our budget. There's no charge for it. We bring the interns together for four hours. They do a leadership panel, networking, and answering questions.

[24:04] Dawnmarie says a lot of other associations do this. She mentions RISE Professionals. They had a terrific Leadership Conference and Gala in Florida.

[24:20] That's an opportunity for young professionals to come together with very good programming around leadership. Networking with their peers and colleagues. Dressing up and going to a gala and celebrating. Dawnmarie has heard only positive feedback about that.

[24:38] APIW supports RISE. RISE supports the APIW Mentorship Program. You'll see a lot of interconnectivity among the insurance associations. They partner to share great programs rather than duplicating efforts. It helps both associations.

[25:01] The market in Charlotte rallies around Community Matters. There was a week-long session two weeks ago bringing in young children from under-represented communities to learn and understand about insurance.

[25:20] Dawnmarie says those kinds of programs where we're reaching out to talent, not only through traditional risk management schools, but looking at non-traditional avenues and non-traditional diversity avenues, and the HBCUs. The Black Sisterhood does incredible work.

[26:05] Justin gives a shoutout to the Spencer Educational Foundation. Dawnmarie says they have done such an incredible job in rallying the industry.

[26:22] At the Spencer dinner, when the young professionals get up to speak, they are inspirational in their careers and their appreciation for the opportunities to come into this industry. Justin doesn't know how they found time to sleep, doing all they did while in college.

[26:57] Justin and Dawnmarie discuss some of the speakers. He says, you hear these young people and wonder if they partied at all in college or were they just working on their risk management career? Justin notes there is the monetary incentive of scholarships and grants.

[27:41] Dawnmarie speaks of the incredible amount of work ethic she sees in the students who have come through the Spencer Educational Foundation program. Justin says they inspire him to work a little harder.

[28:08] Justin asks how we can keep the newer professionals engaged and committed to a long career. Dawnmarie says what seems to be important to them is that sense of community.

[28:24] We all come to work to work, but there's also the culture that you create, the culture of trust, and the idea that there are mentorship opportunities, and more senior people in the organization looking out for you, helping propel your career and answering your questions.

[28:48] Dawnmarie says that is key when you've got the younger generation, and you've got an experienced generation. In our industry, we have four or five different generations rolling through, all who come at things slightly differently.

[29:03] Dawnmarie says it's about understanding where people are coming from. She speaks of investing in talent development programs and professional programs, allowing talent the opportunity to become involved in outside associations, and encouraging networking.

[29:40] Dawnmarie closes this thought with the Amwins program, RTTP. They have people on the retirement track, senior brokers with books of business, and they have young people who are coming through the Broker Development Program.

[30:14] Two get matched up. There's a relationship formed. The client is taken care of because there's succession planning and consistency. The two are learning from each other. The books are passed off.

[30:28] There's respect for the experience that the senior broker brings to the table, and there's respect for what that young person is learning. Dawnmarie hasn't seen a lot of that across the industry. One of the things that enticed her about Amwins is that approach to the generations.

[30:54] Justin says kudos to Amwins. He has met some Amwins folks at Riskworld, and they're lovely. A Justin and Dawnmarie have in common is Liz King Kramer, a former APIW President. Liz gave Justin an APIW pin.

[31:18] Dawnmarie says Liz is the best! She has been mentoring Dawnmarie for over four years. Liz was Treasurer before Dawnmarie, and President before Dawnmarie. Liz helped Dawnmarie learn in both roles. She's become a terrific friend and partner.

[31:42] Munich Re just hosted a Golf Day for women. Dawnmarie was on a Panel with Liz King Kramer and Sabrina Hart, and then they did a golf clinic. Liz is an incredible leader for APIW.

[31:59] Dawnmarie says an APIW President's term is two years. Dawnmarie is at two years; however, she is going to extend for one more year. Then Tracey Vasile, who is an Industry Liaison and First Vice President, is going to step in. They will transition together.

[32:27] The APIW is having its 50th Anniversary Gala on Tuesday, Nov. 3, 2026, at the Edison Ballroom in Manhattan on 47th Street. Everyone's gearing up. They are working on a wonderful video. Dawnmarie says it's going to be a night to remember; everybody dress up and celebrate!

[32:56] Dawnmarie says the women who are involved, chapter heads from the various cities, the 2026 Woman of the Year, 14 past Women of the Year, and Cecilia Norad, the Founder of APIW, are all coming for an incredible lineup of programming, a beautiful dinner, and a beautiful event

[33:47] Dawnmarie says it's for making connections and strengthening those connections.

[33:51] Dawnmarie has had the opportunity to sit as a founder on Women In Specialty and Excess (WISE), an amazing emerging organization, and it was simply too much for her between being President of APIW and being part of WISE, so she stepped back.

[34:07] Dawnmarie said what it made her realize is that the professionals in this industry, it could be any of the associations, step up, look outside of their sphere, and create these opportunities for other people to connect in these associations.

[34:26] Dawnmarie says when she thinks about 50 years, she thinks about all the work that has gone into standing up WISE or what Amy Cooper did with RISE, and where she's taking it. Fifty years of doing it really says a lot.

[34:40] Dawnmarie says it's a time to pause and think: where are we going for our next 50? Because we're going to be here and we're going to be delivering the program, the networking, the development, and the leadership.

[34:52] Dawnmarie says that is what we're excited about. We're looking at the past, the current, the future, and bringing in the young professionals; the people who helped build it and the young professionals, bridging that divide.

[35:36] Dawnmarie says she has a level of comfort on stage. During COVID, she learned that she struggles with virtual presentations.

[35:47] Dawnmarie used to get nervous in front of people; now she gets excited because she feels the energy in the room, she's creating the conversation, and engaging people. It is such a different experience. In a way, she's grateful for the virtual experience. It's taken away the fear.

[36:12] Justin says, Dawnmarie, it has been a pleasure to connect with you here on RIMScast. A quick reminder for everyone: The APIW's 50th Anniversary Gala will be on Tuesday, November 3, 2026, at the Edison Ballroom at 47th Street in Manhattan.

[36:28] Justin says, Dawnmarie will be there. If you attend, please let her know that you heard this RIMScast interview, and that's what piqued your interest to get there. I look forward to seeing you at RIMS events and Spencer events, too.

[36:41] Dawnmarie thanks Justin and RIMS and says, 350 of us at the Gala, maybe more. We look forward to seeing you there.

[36:54] Special thanks again to Dawnmarie Black of Amwins and APIW for joining us here on RIMScast. APIW's 50th Anniversary Gala will be on November 3, 2026, at the Edison Ballroom in New York City. Visit APIW.org.

[37:10] The countdown ticker for the Gala is on the page. Check it out and let them know you heard Dawnmarie on RIMSCast!

[27:18] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[37:35] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[37:51] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[38:05] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[38:17] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Last call for registration!

RIMS Certification Week: Sept. 21‒24 | Complimentary For All

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

RISKWORLD 2027 Registration | RIMS members can lock in 2026 rates now through Sept. 4 | Education Content Submission Through Aug. 21.

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today.

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Now Open! | www.rims.org/ERM2026

RIMS, the Foundation for Risk Management

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

The Strategic and Enterprise Risk Center

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

RIMScast Canada — Episodes Now Live

RISK PAC | RIMS Advocacy

RIMScast on YouTube!

RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available

Sponsor RIMScast — [email protected]

www.APIW.org — 50th Anniversary Gala on Nov. 3 in NYC

Upcoming RIMS-CRMP Virtual Workshops:

RIMS-CRMP Exam Prep Workshop — Live In NY — Aug 27‒28!

RIMS-CRMP Exam Prep with PARIMA | Sept 1‒2

Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars:

RIMS.org/Webinars

"RIMS Student Series: Classroom to Career Part 1" | Sept 1

"RIMS Student Series: Classroom to Career Part 2" | Sept 9

RIMS Certification Week: Sept. 22‒24 | Complimentary For All

Related RIMScast Episodes:

"Taking on Global Leadership in Insurance with Sierra Signorelli, Spencer Funding Their Future Honoree"

"Marya Propis: From Industry Leader to Talent Champion"

"Giving Back with APIW President Liz Kramer" (2024)

Sponsored RIMScast Episodes:

"48 Hours From a Storm: What to Do Before A Hurricane Strikes" | Sponsored by Global Risk Consultants, a TÜV SÜD Company (New!)

"AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL

"Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL

"The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant

"Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent

"Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant

"The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL

"Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich

"Understanding Third-Party Litigation Funding" | Sponsored by Zurich

"What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog

"Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor

"How Insurance Builds Resilience Against an Active Assailant Attack" | Sponsored by Merrill Herzog

"Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RISK PAC | RIMS Advocacy

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RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!

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About our guest: Dawnmarie Black, Senior Vice President and Client Relationship Manager at Amwins

President of the Association of Professional Insurance Women (APIW)

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Colette Cummins, Chief Risk Officer of Inland Fisheries Ireland and a RIMS-CRMP Commissioner, on what it's like to be a CRO in an organization whose mission is protecting a national natural resource. Justin invites Colette to share her career journey, and she tells how she developed in credit risk management, audit, and enterprise risk management, and how she landed in the public sector, protecting the environment while guiding Inland Fisheries Ireland toward building a solid risk framework. Colette speaks of the surprises she found in the public sector, and the impressive risk mindset and commitment she finds at IFI.

Listen for principles of building out risk registers and a risk framework, whether in the private sector or a public sector agency.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. Our guest today is Collete Cummins. She is the Chief Risk Officer for Inland Fisheries Ireland and a RIMS-CRMP Commissioner. We're going to have a great dialog. But first…

[:42] RIMS-CRMP Workshop. We are delighted to announce that on August 27th and 28th, RIMS President Manny Padilla will be leading the two-day in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[1:02] RIMS-CRMP Virtual Workshops. RIMS will partner with PARIMA for the RIMS-CRMP Exam Prep on September 1st and 2nd. Registration links are in this episode's show notes.

[1:12] On the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:28] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:41] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[1:51] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:08] On with the Show! Our guest today is Colette Cummins. She is the Chief Risk Officer for Inland Fisheries Ireland. The IFI is the dedicated state agency for protecting, managing, and conserving Ireland's inland fisheries and sea angling resources.

[2:26] Colette is the agency's first CRO, but she's not new to risk management. We're going to hear about her career journey and why she feels that this position was custom-made for her, combining her love for environmental awareness with her risk management knowledge.

[2:42] Colette is also a RIMS-CRMP Commissioner, and on September 24th, you can hear from her directly, along with Elliott Long, another RIMS-CRMP Commissioner, in the informational session, "A Conversation with RIMS-CRMP Commissioners Who Hold the Credential." [2:58] That's a free informational session. Visit RIMS.org/CertificationWeek for more information. A link is in this episode's show notes. But we're here to talk with Colette about her fascinating career and risk philosophies. Let's get to it!

[3:13] Interview! Colette Cummins, Welcome to RIMScast!

[3:28] Colette was told once that she is excessively optimistic. She's very positive. She took it as a compliment.

[4:18] Colette started fresh out of university in credit analysis and credit risk management. She worked in a few financial services organizations. It gave her a taste for risk management at a high level. It was around portfolio analysis and the credit history of customers.

[4:51] The role Colette was in wound down, and she was looking to move into a different area in the company, Hewlett Packard Enterprise, in the financial services subsidiary. An opportunity came up to work in internal audit. She decided to try it for a year. She stayed in it for 15 years.

[5:32] In the middle of those 15 years, Colette had an interim stint in Operational Risk Management for a year and a half, and she loved it.

[5:47] Colette says, in Operational Risk, you're seeing down at a tactical level how to manage and monitor risk. It was very much around risk monitoring.

[6:01] Colette explains why she stayed in internal audit for 15 years. Ten years were spent in various internal audit management roles in the financial services subsidiary. It was a tough time for HPE in terms of meeting the new regulatory challenges in Ireland and Europe for financial services.

[6:41] Colette was asked to take on the Head of Internal Audit role. She did that for five years. She went into Internal Audit for one year in 2008. In 2015, she worked in Operational Risk. In 2017, she was asked to come back to take over as Head of Internal Audit.

[7:11] It was a challenging situation because new EU regulations were coming in for banks and financial services businesses. It was a lot of pressure to meet these. There was a lot of scrutiny from Irish regulators. It was a challenging environment for Internal Audit.

[7:53] When Colette moved in as Head of Internal Audit, it was a pivotal role in terms of steering the organization through that regulatory time. It was a great learning experience and very helpful now that she's in a public sector role.

[8:09] Colette says, the whole time she was Head of Internal Audit, she was thinking, "How do I get back to Risk? How do I get out of here?" She loved Operational Risk.

[8:27] Colette networked heavily within the organization. She got the opportunity to move out of Financial Services up into the global HPE organization as an Enterprise Risk Manager. She got that role through networking. She enjoyed that ERM role and did it for about five years.

[9:26] Colette says it was a strategic role. She was working with the heads of each business unit, reviewing their risks. It had a very heavy emphasis on reporting to the audit committee and the board on what was happening in risk management in the business units.

[9:58] Colette didn't feel as if she was effecting change or driving new strategies within the organization, but she learned a huge amount about negotiating with senior management and a lot about the fundamentals of risk management.

[10:18] For the last year or two of her role, Colette wondered what she was doing there. She had a sense of wanting to stay in risk management but wanting to do something different, maybe something more value-add and less commercially driven.

[10:39] Colette says towards the end of 2025, HPE announced it was cutting resources and implementing cost-cutting initiatives. As part of that, her role was made redundant. At first, it was a big upheaval and quite a shock after 22 years with the organization.

[11:03] Colette says that upheaval turned into a great opportunity. It was the push she needed to ask herself where she wanted to go and what she wanted to do. It was an opportunity to try something completely different.

[11:28] Colette says she didn't know anybody in the public sector. She had no contacts. But in Ireland, you cannot in any way canvass for jobs in the public sector. Everything is heavily regulated with very strict anti-corruption regulations.

[11:54] Colette says she had no knowledge of the organization. She had no intention of applying for a role for at least six months. But she started looking at what was out there. She was going to put some time into development and building out her CV and getting some qualifications.

[12:33] Colette says she had been thinking she would like to do something in the public sector; something more meaningful and less commercially-driven. She wanted to do something with more autonomy, more impact, and more control over risk at the organisation.

[12:54] Colette says, one Wednesday afternoon, she was looking, and she saw this job that had just come up. It's in exactly the right location, it's public sector, and it's IFI, an environmental body. Colette said, "Wow! This is it!" Forgetting her six months off, she had to go for it.

[13:19] Colette interviewed for the job when she hadn't yet finished her old role at HPE. She was hugely busy, trying to wrap up her role and interviewing. The interview process for the public sector in Ireland is extremely rigorous and tough. She was successful in the role.

[13:43] Colette says she just had a couple of weeks off and then went straight into it in March of 2026. She has been CRO at Inland Fisheries Ireland for four months now.

[14:06] Colette says IFI is the state organization that is responsible for protecting the fish stock in Ireland. Ireland is a country with a lot of waterways. IFI is responsible for protecting the fish in 45,000 miles of rivers, 128,000 hectares of lakes, and 3,500 miles of shoreline.

[14:43] It's doing everything to protect and restore the fish stock in those areas. Historically, the organization was very much about protection, preventing fishermen from overfishing and from fishing illegally, especially protected species. IFI has a substantial staff who patrol the rivers.

[15:17] Now IFI is working on pollution, reacting to any pollution episodes and ensuring that they're investigated and stopped. Colette says that prevention measures sit with a different state body. The Environmental Protection Agency works on the prevention of pollution.

[15:41] Colette says because the IFI has staff on the ground, it will see pollution coming in, react to it, and get in touch with the EPA to say, We've seen something coming into this river at this location. We need your team out here to source and stop it.

[16:08] The IFI staff on the ground takes samples of the water and has them ready for when the EPA team comes to look at it. Another huge element of what the IFI does is restoring the habitat and creating the perfect environment for the fish. They research how the stock is developing.

[16:35] The IFI research teams go out and do things like electrofishing, where they stun the fish for a few seconds to take a scale from the fish, test it, and work out the genetic trail of the fish and where they've come from. There's a huge amount of information they take from that.

[16:58] The IFI works on the rivers, as well. Salmon, in particular, always go back to where they spawned. You need to keep that route open for them. If a barrier, like a dam, has been built, the IFI team works with construction companies to remove those.

[17:19] The IFI has a wide series of activities: patrolling, protection, pollution, habitat restoration, and research. Colette is sure risk professionals hearing this are saying, That's a lot of risks!

[17:37] Justin points out that the IFI covers thousands of miles. It's not just the particulars of the job but also the volume and area it has to cover.

[18:03] Colette says the other element is that fishing or angling is part of Ireland's tourist industry. The IFI promotes fishing, without overfishing, obviously, and supports and partners with the local fishing organizations.

[18:28] A Quick Break! Many fantastic RIMS events are coming up in 2026. You can register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through the 12th at the Grand Hyatt on the San Antonio River Walk.

[18:44] Visit RIMS.org/Events for registration information. The hotel cutoff date was July 10th. Reservations may still be made after the hotel cutoff date, subject to availability; however, the negotiated group rate is no longer guaranteed, so reserve now.

[19:00] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[19:11] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[19:28] Save the dates: October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[19:44] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[19:59] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is now open.

[20:08] An announcement seeking nominations for the RIMS Global ERM Award of Distinction will be made public in July. Visit RIMS.org/ERM2026.

[20:19] We're already looking to RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st! The call for session proposals is now live and will stay active through August 21st.

[20:34] RIMS members can exclusively register by September 4th for the best rate. And get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes.

[20:54] Let's Return to Our Interview with Inland Fisheries CRO and RIMS-CRMP Commissioner Colette Cummins!

[21:05] Justin comments that fish is a critical food source, so IFI has to make sure that they're clean, healthy, and they keep repopulating. Colette agrees but says that it's less about food and more about environmental protection.

[21:23] Colette says some species have been reduced a huge amount in the last number of years because of things like pollution, habitat destruction, etc. It's really about environmental protection, restoring that stock, and bringing it back to where it should be for a natural balance.

[21:42] Colette says her CRO role is new at IFI. That's what made it even more exciting for her. She says, when she came in, it was basically a blank sheet. IFI had dealt with risk by using a third party to give them a risk management model and some training.

[22:10] Colette says the IFI was trying to work with that in-house, without any risk management expertise. It brought in a bit of a risk mindset, but essentially, Colette had a clean sheet to start with. She came in in March, and now she's building out the risk register.

[22:36] Colette's first task was to design the risk framework. Colette loves risk management and has done lots of various elements of it, but she's never had complete autonomy, where she was driving change in the organization.

[22:55] By full autonomy, Colette means she owns everything. Anything that happens to do with risk comes to her.

[23:01] Up until now, Colette's role has been designing the framework: establishing how the organization is going to manage risk, building that out, getting people on board with that framework. It's split into six departments within the organization.

[23:29] Each head of that department, or ELT member, will own their risk register, or their list of risks. Colette is working closely with them to ensure they have all their risks listed within that register and that they fully understand them.

[23:48] Colette is looking at their controls and helping them devise new controls, looking at how the risk matches the risk appetite of the organization, and working with the next level of management beneath them to help them develop their risk registers to report up to the ELT.

[24:40] Colette says IFI had been trying to recruit a CRO for some time. She wishes she had known! She would have applied last year. She just happened to see it. The existing model wasn't working. There was a real need.

[25:00] The audit committee and board were saying they weren't happy. They said they needed to see risk management alive in the organization. Colette had to dive straight in, hit the ground running, and start building it out straightaway. It was exactly the challenge she was looking for.

[25:18] Colette says it's so good to have that autonomy and responsibility, but also accountability. She is completely accountable for everything that happens with risk. Colette gets each member of the ELT to develop their risk register and report that up to the audit committee.

[25:45] If anybody is doing anything where they want to think about risk, they talk to Colette. It's not complicated. They don't go to somebody else. Everybody knows, if it's got the word "risk," they come to Colette. Colette says the full visibility of everything is great.

[26:19] Colette says she's starting with a very simplistic model to build the registers. She says it's drawn more from ISO, but it's a very simplistic model to get the organization started. Colette moved from a private-sector global IT company to the public sector.

[26:56] The one thing that is challenging is that things move much slower in government. It moves much slower, and that's probably even more so in Ireland than in Europe and maybe than in the U.S.

[27:16] You could come in and see this is the change that is needed, and think you could go ahead and effect that change within a couple of weeks? Oh, no you don't! You need to take everything slowly and get the right approvals and authorizations, etc.

[27:29] Colette says she is starting with a really simplistic model: set out your risks, set out your controls, set out your mitigating actions, and then, we're going to get the organization working on that with that framework.

[27:43] Colette hopes to do it within six months, but knowing the public sector, it could be a year. Then start building in other elements to it to make it a more mature and sophisticated framework.

[28:19] Every change has to be approved by the Audit and Risk Committee (ARC). If Colette wants to make a small tweak in the existing framework, it goes back to the Audit and Risk Committee, which meets every three months.

[28:51] Colette presented to the ARC in June. She presented how she wanted to move forward. There was no question. She knew they were going to approve it. She couldn't just go ahead and put the framework in place.

[29:08] It needs to go through the protocols and have the conversation with the ARC and just take it nice and slow to effect any change. That is one challenge that's different for Colette. But otherwise, she can bring all of her experience from different areas and use every bit of it.

[29:37] One More Quick Break! RIMS has launched RIMS, The Foundation for Risk ManagementTM. The Foundation is dedicated to shaping the future of the profession. Contribute to strengthen the global risk management community and invest in the future of the industry.

[29:57] The Foundation also supports the Spencer Educational Foundation but has a different mission. The Foundation focuses on providing opportunities for those professionals who have already decided to enter risk management and are just getting started.

[30:11] You can learn more about the Foundation by visiting RIMS.org/FRM.

While you're there, be sure to check out information about the Susan Meltzer Scholarship Fund, which was established to honor Ms. Meltzer, who was RIMS President in 1999 and 2000.

[30:30] Susan Meltzer was a cherished RIMS President and contributed so much to RIMS and the greater risk community. Learn more at RIMS.org/FRM.

[30:39] Let's Return to Our Interview with Colette Cummins!

[30:53] Colette Cummins is speaking with us today from County Kildare, about 30 miles outside Dublin, Ireland. The IFI offices are on the edge of Dublin, the capital of Ireland. Colette says the land is actually greener and more beautiful than the travel brochures could describe.

[31:30] Colette says Ireland is full of rich waterways, which keeps her in a job. She lives near Dublin but is originally from the Southwest of Ireland, which is by far the most beautiful. The coastline is stunning. It's where most Irish go on holidays. It's gorgeous.

[32:00] Colette says the accent in the Southwest of Ireland is different. Colette's husband from the middle of Ireland requests subtitles when he visits her family in the Southwest. Colette describes the difference between the accents in the South and North of Ireland.

[33:05] Colette says the IFI Corporate Risk Register has generic risks around AI, cyber, training, and resources.

[33:33] One of their biggest risks is health and safety. Staff are going out and patrolling rivers. They will sometimes come across fishermen who are happily overfishing and not keen to meet a patrolling officer who tells them they shouldn't be taking all this fish and depleting the stocks.

[34:08] There is a health and safety risk with the patrolling officer being out on a river on boats. There is a health and safety risk in meeting an acrimonious and adversarial fisherman.

[34:28] Because IFI does research, they have staff in labs, using high-tech equipment, with a health and safety risk. They have engineers looking at the rivers and habitats and maybe some constructions in the rivers that need to be removed. They have a health and safety risk.

[34:37] These are new risks and things for Colette to get her head around. How do we do this? How do we manage that? And the other side is regulation. There are a lot of different regulations that impact IFI.

[35:22] Colette says, In the public sector, your reputation is critically important, because you're the face of the state. Reputation is an impact factor you need to build into every risk. If IFI does something wrong, it could end up in the national media the day after. IFI uses taxpayers' money.

[36:15] Colette says another huge category of risk for IFI is procurement, ensuring they are using taxpayers' money in the right way and not misusing it.

[36:50] Colette says that prioritizing risks comes back to the goals. In procurement, there is the risk of spending money in a way that's not compliant. There is also the risk that there are too many procurement controls and the business can't move fast enough or do what it needs to do.

[37:24] Colette says it comes to the organizational goals. What is the impact on the organizational goals? Which risk is going to have a greater detrimental impact on the organization's mission? One caveat: the health and well-being of the staff override everything.

[37:55] Health and safety risk trumps everything. IFI would be completely averse to any risk that will impact the health and safety of the staff. Health and safety trumps every other risk.

[38:16] Justin says he and Colette met recently for the RIMS-CRMP series where everyone can see her on September 24th. Justin says Colette is very positive and upbeat and speaks about her role with a lot of enthusiasm and joviality.

[38:39] Colette says there are 330 people in IFI. It's not commercially driven, so a lot of people are at IFI because they love the work. For some people Colette works with, it's a vocation. They would nearly do the same job without being paid because they have such passion for it.

[39:11] Colette met with the research team on site at the rivers to get a better understanding and just to see the passion they have for the job. Using her risk knowledge to help them do their jobs better and to help them protect themselves from risks was rewarding and enjoyable to Colette.

[39:45] Colette says being able to use her experience across the organization is just fantastic. Colette has a lot of different experience, and to bring it all together and use it every day when she is challenged with a new task is fantastic and very rewarding.

[40:27] Colette says this is the field staff's very busy time because this is when all the fishing is happening, this is when pollution is more likely to happen, and when the temperatures go up, the fish are under pressure, so you have to try and protect the waters.

[40:42] Colette says the research staff was delighted to hear that someone was coming down from the head office to go out and make the time to really understand the organization. They were very anxious to show her everything. There is such pride in the organization.

[41:!5] Justin says a lot of the risk professionals listening are in the private sector, and he asks Colette what would most surprise them about risk management in a public environmental organization.

[41:40] Colette says a lot of the differences in the public sector are what you would expect: things move slower, and the protocols.

[41:49] What surprised Colette the most is what a strong risk mindset they have. There's a good understanding of risk already, even through the layers of management. They can look at what's going on, the processes, and the activities and ask, "What are the risks here?"

[42:16] There is also a commitment to risk that Colette was not expecting. She was expecting to meet a research manager who wanted to research and leave risks to Colette. She hasn't had that anywhere. They all ask her to talk with them about their risks. "Am I managing them right?"

[42:39] Colette says there is knowledge and commitment, and that has been the biggest surprise for her. It obviously makes her job a lot easier.

[42:48] Justin says this is excellent. It has been such a pleasure to meet you these last couple of days. We're going to see you during RIMS Certification week on September 24th.

[42:57] Justin says, You will be co-hosting the informational session, "A Conversation with RIMS-CRMP Commissioners Who Hold the Credential." You're such a breath of fresh air. We really appreciate your contributions, and I learned a lot speaking with you today and yesterday.

[41:12] Justin says, You have a fascinating job, and I hope that you have a chance to attend a RIMS event, maybe lead a session, and connect with our live audiences, as well. Colette says she would love to at some stage in the future.

[43:32] Special thanks again to Colette Cummins of Inland Fisheries Ireland for joining us here on RIMScast.

[43:38] You can hear Colette again on September 24th during RIMS Certification Week for the special informational session, "A Conversation with RIMS-CRMP Commissioners Who Hold the Credential."

[43:49] That session will be held at 10:00 a.m. Eastern. Visit RIMS.org/CertificationWeek. The link is also in this episode's show notes. We've got sessions on the 22nd, 23rd, and 24th of September. We look forward to seeing you there.

[44:05] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[44:22] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[44:39] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[44:52] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[43:05] Practice good risk management, stay safe, and thank you again for your continued support!

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Related RIMScast Episodes:

"Reputation and Defense with Jeff McKissack"

"Choosing the Challenge with Johnell Holly"

"Supply Chain Integrity and Sustainability with Nicole Sherwin of EcoVadis"

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About our guest: Colette Cummins, Chief Risk Officer, Inland Fisheries Ireland

RIMS-CRMP Commissioner

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Jerome Mayne about his experiences and his upcoming RIMS Texas Regional Conference 2026 keynote, "Choices and Consequences: The Human Side of Risk." In his keynote, Jerome will speak about his experiences and the human factors in decisions. He shares part of the story from his keynote and his book Diary of a White Collar Criminal. Justin and Jerome discuss how fraud develops. Most fraud comes after a series of bad decisions. Jerome says, looking back, you may not understand why you made those decisions. His keynote will address, through storytelling, how fraud happens. Jerome uses humor to tell very serious stories. Jerome speaks of an organizational culture in which it is safe to discuss with leaders bad decisions you may have made. If there is an atmosphere of fear, you will not have these discussions.

Listen for the value of connecting and giving your audience takeaways they will remember.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. We will be joined by Jerome Mayne, opening keynote speaker for the RIMS Texas Regional Conference 2026. We will talk about choices and consequences. But first…

[:42] RIMS-CRMP Workshop. We are delighted to announce that on August 27th and 28th, RIMS President Manny Padilla will be leading the two-day in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[1:02] RIMS-CRMP Virtual Workshops. The next virtual RIMS-CRMP Exam Prep courses will be held on July 28th and 29th. RIMS will partner with PARIMA for the RIMS-CRMP Exam Prep on September 1st and 2nd. Registration links are in this episode's show notes.

[1:19] On the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:34] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:48] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[1:57] Live Events! The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration will open in July. Look out for the call for nominations for the RIMS ERM Global Award of Distinction. Visit RIMS.org/ERM2026 in July for that announcement.

[2:19] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:38] On with the Show! Our guest today is Jerome Mayne. He is an Ethics and Humorous Keynote Speaker. He will be kicking off the RIMS Texas Regional Conference 2026.

[2:48] Jerome is the author of Diary of a White Collar Criminal, the first-hand account of his career in comedy and his 21-month Federal prison sentence for white-collar conspiracy. Learn more at JeromeMayne.com.

[3:03] Jerome will provide a unique blend of ethical insights and humor at the RIMS Texas Regional Conference 2026 in San Antonio on Tuesday, August 11th, with his session, "Choices and Consequences: The Human Side of Risk."

[3:20] We're going to get a preview of that session, and also get his perspective on ethical decision-making and how risk managers can avoid certain temptations. We're going to have a lot of fun! Let's get to it!

[3:33] Interview! Jerome Mayne, Welcome to RIMScast!

[3:38] Jerome was recommended by a RIMS member to be a great person to "kick off" the conference. Jerome says word of mouth is the best marketing.

[4:28] Jerome says people don't like to think they're going to an ethics conference. That could be a real "sleeper."

[4:50] Jerome says his whole perspective is from the human side. He speaks about decisions. He doesn't speak about financial transactions. He's not doing bullet points. He's not a scholar in ethics. He knows about decisions.

[5:12] Policies and checklists are important, but there's still a human being making the decision, especially with technology.

[5:30] Jerome says his experience and story have to do with decision-making. It doesn't matter what industry it is; it's all the same. It's human. That's what he talks about, and he says he's fortunate because he gets to tell a story.

[5:50] One of the things Jerome hears most is that he connected with the group because he's a regular guy, like everybody else in the office. He wasn't a Bernie Madoff. He didn't plan something. It was decisions.

[6:23] Jerome says that in real estate finance, you've got a lot of things that have to happen. There are Fannie Mae guidelines, and underwriters that make sure the transactions are right. They didn't call it risk management. It was your manager who kept an eye on it.

[6:47] With real estate finance, you have underwriters, but they can't catch everything, and there was less technology. It was a lot about the human factor. Then when you sell all these loans in a pool, and it goes to Wall Street, there are audits, and that's where they can find stuff.

[7:12] There were some red flags before it went to auditing, but that's the risk.

[7:28] Jerome thinks risk management has evolved since his time in real estate. In Jerome's time, humans made the decisions to get the customer involved. There were human decisions to make sure that financial transactions went through. Now there are more computers to flag stuff.

[8:04] Jerome says, ultimately, today, risk managers are looking for fraud and for specific risks they have identified that indicate there is a problem. It starts with the organization's culture. If you're not comfortable thinking about decisions you've made, that can be a red flag.

[8:45] Fraud isn't the first thing that happens. It's usually a decision, a mistake, or a justification. It kind of rolls from there. Justification is really easy. Fraud is the last thing that happens.

[9:28] Jerome says people call it the slippery slope. Jerome calls it your gut instinct. Instinct is like muscle memory. If something doesn't look right, you know what to do. You feel it right away.

[9:53] And then, maybe there's a reason that you don't do it. You want this transaction to go through, or you like the customer and you think it's not a big deal. It's not like they told you they were going to commit fraud.

[10:24] And then, you keep working with that customer, and you realize, more and more, you're just making decisions to make it through the transactions. Jerome will share a story like this in the session. It didn't start with one thing, and they never asked Jerome to do anything for them.

[11:01] It was never part of the deal that Jerome was going to make money at it. His biggest worry was that he was going to get fired, maybe.

[11:15] A Quick Break! There are many fantastic RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes.

[11:33] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through the 12th at the Grand Hyatt on the San Antonio River Walk. Visit RIMS.org/Events for registration information.

[11:51] The hotel cutoff date was July 10th. Reservations may still be made after the hotel cutoff date, subject to availability; however, the negotiated group rate is no longer guaranteed, so reserve now.

[12:03] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[12:14] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[12:31] Save the dates: October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[12:47] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[13:03] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is now open.

[13:12] Be on the lookout for an announcement about submissions for the RIMS Global ERM Award of Distinction. Visit RIMS.org/ERM2026.

[13:22] Let's Return to Our Interview with RIMS Texas Regional Conference 2026 Keynote, Jerome Mayne!

[13:32] Justin and Jerome have standup comedy in common. Justin did standup in New York from 2006 to 2007. He says it takes a certain calling to want to get up and do that.

[14:11] Jerome had done improv and started doing standup. He had always been a performer and a musician, performing on stage. He started improv, "smoking stage," and standup because his life was swimming along just great.

[14:36] Then, Boom! Jerome was indicted. He was going through pre-trial. He didn't have a job anymore; he didn't know what to do, and he didn't know what was going to happen to him. His life wasn't happy, and being in a club every night of the week, you can develop some bad habits.

[15:33] Jerome says there was some great stuff about some of the people he met, especially after he pled guilty. It took a while from that point until he had to go to prison. So he had several months, and he didn't know what to expect in prison. He was scared. Then he just embraced it.

[16:06] A lot of his standup material was about his indictment and preparing for prison. Jerome says in standup you have to give the audience permission to laugh about serious subjects.

[16:45] Jerome developed cancer in prison. After he got out, he used it. He finds comedy all over the place, even in serious, nightmare stuff. He had some funny stuff that happened during the cancer. That material didn't work. The audience never felt comfortable for him to joke about it.

[17:47] The audience gets the story, not the bullet points. He's not telling a story about fraud. He's telling a story about life. It's not a story about Jerome; it's a story about the audience. Not that they're going to do it, or have done it, but everybody is eligible to make a bad decision.

[18:16] Jerome says, you can be a great father; you can be the CEO; you're eligible. It's whether or not you do, and you recognize that the decisions you make are going to have consequences.

[18:28] Jerome tries to connect with the audience. He has found a lot of people to be receptive to some really serious stuff. People need to feel comfortable listening. They're not learning textbook information. They're learning from a story.

[18:55] They can reflect on what they see: situations that they've been in. Jerome has found that comedy helps loosen people up so they can listen, and they're not saying, Wow, that's a felon! Jerome doesn't look like a felon. Felons don't look a certain way. That's important, too.

[19:31] Justin says we have so many listeners who are CROs and risk leaders, and their job is to help make better decisions. Some of them may blur the lines out of an act of desperation. They may be thinking through the lens of parents of students in college or approaching college.

[19:51] Jerome has found that doing standup prepared him to be a speaker. You get beat up as a standup. You have to connect with the group to convey your story. That's what comedy is. Jerome found that comedy worked, and he got something out of it. He feels good about it.

[20:36] Jerome never thought that standup was part of what he was going to do or that he would feel fulfilled providing entertainment, and for people to walk away saying, "I'm never going to forget that." When he hears that, he knows he did something right. It mattered.

[21:13] Justin talks about being in a band in high school. Jerome was a piano player and singer. He formed an Elton John tribute band after his time in prison; he played Elton. You can find his Elton John tribute band on the internet.

[21:47] Justin played bass. He wanted to be Flea from the Red Hot Chili Peppers. When you're on stage, you have an instrument to rely on. When you're a comedian, you have nothing else to rely on. Jerome really likes sharing his story, and he found that people get something out of it.

[22:21] Jerome says he has to be fulfilled also, or he wouldn't do this anymore. That does help. He likes to connect with the group. As a speaker, just like a standup, Jerome needs to connect, read the audience, see where they're going in real time, and change it.

[22:46] Jerome says you could be the smartest guy in the state, and people will walk out of there, and they got nothing. Jerome would like to think that he can connect. He's been doing this for over 20 years. He'd better have found where the pause needs to be, and it changes.

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[23:41] Links to many of these episodes are in the show notes. RIMScast sponsorships can be bundled with whitepapers and webinar sponsorships.

[23:49] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them!

[24:03] Reach out to Ted Donovan at [email protected] or reach out to Sales at [email protected]. Let's find the best opportunity for you and your organization.

[24:15] Let's Conclude Our Dialog with RIMS Texas Regional Conference 2026 Keynote Jerome Mayne!

[24:45] Jerome says he doesn't know trends more than the average consumer. Some people are thought leaders. Jerome is a storyteller. He wouldn't do it if people weren't getting something out of it. He wouldn't be on conference stages if somebody hadn't heard he might be a good fit.

[25:40] Jerome says, it's not because he kept up on that industry. It's not that he doesn't understand risk, fraud, and ethics; he does. He understands them more, however, in the way humans might make decisions or how they might avoid making decisions.

[26:18] Jerome says good leaders setting the tone are all over the place. There are good people everywhere. Most people are good. Good leaders and good cultures are all over the place.

[26:43] Jerome suggests doing a check-in on your organization and people to make sure they're comfortable saying, "I think I made a bad decision. Can we talk about that?" If people are scared to do that, they're not going to make the right decision, and they don't feel supported.

[28:00] Jerome says that what he learned from his experience is that sometimes you can make decisions and choices, and then look back and question why you would ever have made those decisions. It didn't make sense.

[28:43] Jerome says, when people look back, it just doesn't look the same as it did when you were in it. You didn't see the forest for the trees. It doesn't look the same when you are looking back at it.

[28:58] Jerome says, when I think about risk and financial danger, I think of people and how they have to make decisions. It's about trusting yourself that you are going to make a good decision. If you have support from the organization, you're going to feel comfortable talking about it.

[29:32] It's important to make sure there's no silence and fear in your organization about discussing decisions.

[29:42] Justin says, This has been a standout RIMScast episode. We don't get too many people with your resume. I look forward to having you keynote the RIMS Texas Regional Conference 2026 in San Antonio, on August 11th, at the San Antonio River Walk. Thank you, Jerome!

[30:42] Special thanks again to Jerome Mayne for joining us here on RIMScast. Check out his site, JeromeMayne.com, for more information.

[30:51] We look forward to his keynote at the RIMS Texas Regional Conference 2026 on the morning of Tuesday, August 11th, at the Grand Hyatt on the San Antonio River Walk. Be sure to follow up with him in the hallways afterward and let him know you heard him here on RIMScast.

[31:11] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[31:28] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[31:45] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[31:58] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[32:10] Practice good risk management, stay safe, and thank you again for your continued support!

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About our guest: Jerome Mayne, Ethics and Humorous Keynote Speaker

Author of Diary of a White Collar Criminal

RIMS Texas Regional Conference 2026 Keynote Speaker (Aug 11)

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Spencer Funding Their Future Honoree, Sierra Signorelli, about her background in environmental science, what drew her into insurance, and what convinced her that this profession was where she wanted to build a career. They discuss her career path from environmental consulting to environmental insurance underwriting to leading a global team and to currently serving as CEO of U.S. and Commercial Insurance at Zurich, and the pivotal moments that changed the trajectory of her career. They discuss her passion for helping women make their way in the industry, and her activities to bring new talent into insurance careers. Justin and Sierra discuss the Spencer Educational Foundation and how Zurich's interest in nurturing new talent aligns with Spencer's work.

Listen for Sierra's passion about the dynamic state of the insurance industry and how it can bring new risk solutions to companies.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. Our guest is Sierra Signorelli, CEO of U.S. and Commercial Insurance at Zurich and one of this year's Spencer Funding Their Future Gala Honorees. But first…

[:42] RIMS-CRMP Workshop. We are delighted to announce that on August 27th and 28th, RIMS President Manny Padilla will be leading the two-day in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[1:02] RIMS-CRMP Virtual Workshops. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Registration links are in this episode's notes.

[1:14] We have a summertime webinar. On July 16th, Zurich will present "Too Hot to Ignore: Heat-Related Injuries and Workers' Compensation." Register at RIMS.org/webinars and via the link in this episode's show notes.

[1:29] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:44] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:58] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[2:07] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration will open in July. Be on the lookout for the call for nominations for the RIMS ERM Global Award of Distinction. Visit RIMS.org/ERM2026 in July for that announcement.

[2:29] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:48] On with the Show! Our guest today is one of the modern trailblazers of risk and insurance. She is Sierra Signorelli, the CEO of U.S. and Commercial Insurance at Zurich. She is also one of this year's Spencer Educational Foundation's Funding Their Future honorees.

[3:08] Sierra will receive her honor at the Waldorf Astoria in New York City on September 17th at the Spencer Funding Their Future Gala.

[3:16] Sierra is here today to discuss her career development, her career journey, how it evolved into a global leadership role, and some words of wisdom for the next generation of risk and insurance talent. She has a lot of great insight and takeaways for us all. Let's get to it!

[3:37] Interview! Sierra Signorelli, Welcome to RIMScast!

[3:47] Justin and Sierra discuss longtime mutual friend Marya Propis. Sierra says their paths crossed early in their careers at AIG. They got to know each other through the Women's Executive Leadership Initiative Program.

[4:09] Sierra says quite a few exceptional women in important roles in our industry came out of that program cohort. It's fantastic to come back together with Marya for this event.

[4:37] Sierra studied environmental science. She tries to live and work with a sense of purpose. In university, she wanted to make the world a better place with environmental science.

[4:58] Sierra says there are areas of overlap between insurance and environmental science. Her initial work out of school was about understanding changing weather patterns, flooding, epidemiology, chemistry, liability, and toxic tort. She leans on what she studied.

[5:33] Sierra says that in school, they studied Earth Systems Science. Much of the modeling they did in school is the same modeling that Cat modelers do at Zurich.

[6:04] Sierra first worked at an environmental engineering consulting firm. A colleague left to join a new company. He called her to come and interview. It hadn't been on her mind, but on his recommendation, she interviewed. Meeting the people, Sierra was intrigued.

[7:08] Sierra says once she joined, she never looked back. She joined as an underwriter doing environmental insurance, so it tied to her background. It felt like it was her own little business. It was her responsibility to build a portfolio of business and build relationships with brokers.

[7:37] Sierra says it was fascinating. The industry gives lots of training, both industry-led and within companies. The opportunity to learn was fun. Sierra felt it was a great place to start to build a career.

[8:20] Sierra has had a few meaningful career pivots. As an underwriter, transitioning to her first manager role was a big step. It taught her that you have to have sponsorship or support within an organization to get the next roles.

[8:47] Sierra says it was a big step from being an individual contributor to leading a much larger team. Having somebody willing to put that on her was really important. She will be forever grateful for that first step.

[9:12] Sierra says the next meaningful step was from running a business in a region to being a CUO for one of the businesses globally. The organization restructured and put Sierra across lines of business she had no expertise in. That was a huge shift for her.

[9:40] Sierra was no longer the deep expert, but she had to lead a team of experts and be credible with those individuals. Most of them had 30 or 40 years of experience. Sierra was in her early 40s. It was a fantastic opportunity that somebody was brave enough to give her.

[10:09] Shortly after, Sierra moved from New York to Asia. It was quite a difference. She took that step because she was in a global role. She says, even though she traveled a lot and she's curious about people and cultures, it's not until you sit somewhere that you really experience it.

[10:39] Moving overseas and being on the receiving end of New York gave Sierra an appreciation for sitting in the market. At that company, all brilliant things came from New York, and the rest of them had to figure out how they added value. The time difference was a challenge.

[11:24] Sierra says the time difference has a huge impact on your life. The company wanted to become more global and had placed executives all over the world in different hubs. When you have 3,000 people in one area, everything is time-zone-centric to them.

[12:01] As a global leader, in another time zone, you have to be comfortable not participating in everything and having people who represent you on your behalf, knowing when you really need to engage. You need to know to move the time if you won't be coherent at 3:00 a.m.

[12:24] Sierra went back and forth once a month from Asia to New York to do Business Unit Reviews. It takes a lot out of you. The world has changed, and she does many more video meetings. Global travel has an impact on quality of life.

[13:00] During those years, Sierra was raising children. They started pre-school and kindergarten in Asia. Sierra says she couldn't possibly do it unless her husband was on board; he had a career that was more flexible, and he was willing to step up. That's a family discussion to have.

[14:03] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes.

[14:22] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through the 12th at the Grand Hyatt on the San Antonio River Walk. Visit RIMS.org/Events for registration information.

[14:36] The hotel cutoff date was July 10th. Reservations may still be made after the hotel cutoff date, subject to availability; however, the negotiated group rate is no longer guaranteed, so reserve now.

[14:48] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[15:00] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[15:16] Save the dates: October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[15:33] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[15:47] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration opens in July.

[15:58] Be on the lookout for an announcement about submissions for the RIMS Global ERM Award of Distinction. Visit RIMS.org/ERM2026.

[16:08] Folks, we're already looking toward RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st. RIMS members can exclusively register by September 4th for the best rate.

[16:22] Get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes.

[16:35] Let's Return to Our Interview with Spencer Educational Foundation's Funding Their Future Gala Honoree Sierra Signorelli!

[17:01] Sierra says when she was in Asia, she had a global role. It highlighted how you speak, how you engage, and how you listen in different cultures is hugely important. You can't assume. It's always good to listen and then ask, and then replay back.

[17:23] Sierra learned some painful lessons just thinking that silence and people nodding along means that they agree. She says she often talks about the importance of listening to colleagues, customers, and broker partners.

[17:45] It's important not to make quick assumptions but to listen first and ask questions so that you have a good understanding of the colleagues you are working with and their needs.

[18:00] Justin says a keynote at RISKWORLD 2019 said that when she spoke in Asian nations and asked a question of the audience, she learned that she had to wait and make eye contact with the audience to know if it was alright to move on to the next point or get them to speak up.

[18:30] This speaker had learned that there is somewhat of a cultural reluctance in Asia to say what's on your mind. Sierra says that may be true, but you often don't get questions, so you have to think about what questions people might have and make sure that you raise them.

[18:53] Sierra shares an example. They were rolling out global pricing tools. The U.S. would raise their hand that they don't like this or that. The same with the UK. Maybe Germany doesn't adopt it. Asia was seamless. They just rolled it out. No questions. Then a broker revealed a big issue.

[19:31] Sierra realized she had to go back and talk with her team, so they could march forward. Having that understanding and making sure you're engaging appropriately with the culture is critical to having a successful business and being successful with the teams locally.

[20:03] Justin asks that as Sierra ascended to that leadership role, did she find that she was one of the few women in executive leadership roles along the way?

[20:23] Sierra says that early in her career, she was quite fortunate that there were quite a number of women leaders. In the group she worked with when she was in New York, there were several women running businesses. She worked for a woman.

[20:43] Many of the women had families. Sierra had just started to have a family. Seeing them able to run these businesses, have a family, and not seem like all the wheels were coming off, seeming very normal and successful in her view, kept Sierra going.

[21:01] Sierra says having role models and seeing other women do it is absolutely critical. It feels like you can do it when you see somebody else doing it. Having other people to talk to about how you navigate it is very important.

[21:17] Sierra says, That being said, you have these groups, but overall, she finds that she's often the only woman in the room in meetings, and more broadly, in Asia. If she looks at the executive committee at Zurich, there are 12 executives, six male and six female.

[21:42] Sierra says there are bright spots. We're making progress, but in some of the mid-level management roles, you don't see the same split. You see women falling off at a certain level.

[22:19] Sierra says we have a Women's Innovation Network that she sponsors for her group. She has always tried to be a great support to women in our industry. She has given support to women along the way and helped them navigate to get to where they are.

[23:00] Sierra says if you want to be authentic, you have to make difficult decisions. It goes hand in hand. If you just take every easy decision, it would be very difficult to be authentic. She would encourage you not to shy away from challenging decisions and not to put them off.

[23:26] That's easier said than done. When Sierra looks at her to-do list in the morning, if there's something on that list she really doesn't want to do, she does it first. Otherwise, it just falls further down the list, and then goes to the list for tomorrow.

[23:47] Those difficult conversations are never as bad as you work them up in your head to be. Just do it and get past it. If you make that a habit, then you tend not to shy away from having the right discussions. It's never as difficult as you can make it out to be in your head.

[24:09] Sierra says one of her colleagues at Zurich in the U.S. often says, "Be kind, not nice." Being nice does not serve anyone well. If you don't give people feedback, or don't give them the full story because you want to be nice, it doesn't make sense.

[24:32] If you're going to give feedback or make a change, be kind. That purpose helps people move forward and take action. Inaction is the bigger risk than taking action, jumping in, and adapting anywhere you need to adapt, as you go.

[25:02] Justin cites a friend of Sierra's, and recent RIMScast guest, Johnell Holly, who said he chooses the hard challenges first and tries to knock them off the list.

[25:24] Justin restates Sierra: your authentic self is shown when you make those difficult decisions. That's a great takeaway for the RIMScast audience. Sierra adds that it's important to take positions so that people understand what you stand for as a leader or an individual.

[25:53] Sierra says in an organization, people are always going to decide what you stand for. If you don't make it clear, it creates a vacuum, and they'll make assumptions. Sometimes people are tentative or worried about taking a stand.

[26:06] Sierra says it's far less risky to take that stand and make it clear what you stand for, because people are going to make an assumption anyway, and they're more likely to get it wrong if you leave it to them to sort out.

[26:31] Sierra says she spends a lot of time meeting with customers and brokers. She gets energy from it. It grounds her in reality, which is important if the company wants to add value. They need to understand how things are landing, and what problems they are solving for.

[26:53] One of the things that keeps Sierra in this industry, and what she loves about what they do, is that they have the opportunity to help solve some of the world's most complex challenges.

[27:06] To do that, they have to get out and talk to people who are facing the challenges, and understand what it means for their business.

[27:14] Sierra says, it's also important to spend time with your people. Sierra is in the Chicago office, and when she walks around the floor, she can meet the teams. She loves when they come up and tell her about a big win or something they're building on in the market.

[27:39] Another Quick Break! The Spencer Educational Foundation's Funding Their Future Gala 2026 will be held on September 17th in New York City at the Waldorf Astoria. This year, Spencer will honor Sierra Signorelli of Zurich and our recent guest, Marya Propis of RT Specialty.

[28:01] A link to the Gala is in this episode's show notes. Sponsorship opportunities are still available.

[28:14] We have reached the deadline for the Spencer Educational Foundation's Risk Manager on Campus submissions. Grant awardees, colleges, and universities are typically notified in September.

[28:22] General Grants are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th.

[28:33] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information.

[28:42] Let's Conclude Our Interview with Spencer Educational Foundation's Funding Their Future Gala Honoree Sierra Signorelli!

[28:57] Justin congratulates Sierra once again on being honored at the Spencer Educational Foundation's Funding Their Future Gala, which will be on September 17th at the world-famous Waldorf Astoria.

[29:07] Sierra says she is looking forward to the event. She has been very fortunate to have amazing people who have helped, either giving her great advice through her career, or who have sponsored her, supported her, or advocated for her as she took the next steps in her career.

[29:43] Sierra says, it's great to be recognized. As she is recognized, it should be recognition for all of those people who were bold enough to support her, especially early in her career.

[30:02] Sierra says Zurich has a long history of engaging with the Spencer Educational Foundation. Zurich's beliefs align with what Spencer is trying to achieve. Zurich believes in bringing a diverse group of people into our industry, and more young people into our industry.

[30:23] Sierra says we need to continue to bring new people in. As we look at some of the changes we have as an industry, becoming more digital, leaning more on insights, and reshaping how we show up as an industry, it's a great time for young people to join our industry.

[30:47] Sierra says she thinks the industry is undersold. It's a fantastic industry to build a career. She says most people who come into the industry don't leave. It's just convincing them from the beginning.

[31:02] Sierra says, from a Zurich perspective, we have a really robust apprenticeship program that we sponsor to bring youth into and help them gain experience: both on-the-job experience and instructional experience through a two-year program.

[31:26] Sierra says that for Zurich, supporting programs such as the Spencer Educational Foundation is a natural fit in continuing to help bring talent into our industry.

[31:38] The other 2026 Honoree, Marya Propis, was recently on the show and was one of the first 50 RIMScast guests. Sierra says she and Marya worked together years ago. They also were part of a fantastic sponsored women's program, the Women's Executive Leadership Initiative.

[32:14] Sierra says several women who are in key roles in our industry came through that program. It's fantastic to see the success of some of those women, including Marya, and to be honored together in 2026.

[32:44] Sierra says it should be a good evening and really nice to reconnect with Marya after having been overseas for quite some time.

[33:00] Sierra is also a board member of the St. John's University School of Risk Management and is deeply involved in developing future talent.

[33:16] Sierra says it's a really exciting time for our industry. The world of risk is very dynamic now.

[33:31] Our capabilities to harness insights and data to streamline what we do to be more efficient to work with, all coming together at the same time, is a huge opportunity to raise the bar to add greater value to companies as they think about how they manage this risk landscape.

[34:00] For Sierra, it's an exciting time to bring new perspectives in and entice young people to look at a career in insurance. Sierra repeats that most people who come into our industry don't leave. People leave companies, but they tend to take other insurance roles.

[34:30] Sierra says, we just need to get more people interested in what we do and to bring new perspectives and new skillsets into what we do. I know that people will stay once they're here.

[35:00] Speaking of knowledge transfer, Sierra says that there are lots of people with many years of experience who want to invest the time with younger people to pass that knowledge on. They don't want it to be lost.

[35:19] For people who are curious and want to come in and build a career, it's an amazing opportunity to be able to work with some of the people who have this experience, as well as working with new technologies and capabilities.

[35:35] The Waldorf Astoria in New York City has been newly renovated. When people gather at the Waldorf for the Spencer Gala on September 17th to celebrate leaders like Sierra and Marya, they're also investing in the future of the profession.

[36:06] Sierra says, first and foremost, she feels fortunate that she's had great support from individuals and also from working for a great company that allows her to do what she does at such a large scale.

[36:44] Sierra says the people who sit on the team at Zurich are the shining stars who give us the brand that we have and the capabilities that we have. She would hope that she leaves a legacy that shows that she's helped to improve and raise the bar for what we do as an industry.

[37:19] Sierra says that's what she's most passionate about. She thinks that as an industry we can do more.

[37:26] We're on the cusp of something great with all of these different dynamics, whether they're the factors of risk that are becoming far greater, or the capabilities we can bring to the table to help the world and companies solve problems.

[37:45] Sierra says, if I leave a legacy that I helped some of the building blocks to get us there, I would feel quite good about that, in addition to helping to build talent in our industry, which is something that I'm particularly passionate about.

[38:03] Justin says it is a well-deserved honor, and I'm so happy for you. I'm very happy for Marya, as well. You both bring so much to risk management and insurance that it's only fitting that you are honored in the same year. You're both doing great work.

[38:21] You're very inspiring for our listeners and, of course, anyone who is involved with Spencer, whether they are staff or beneficiaries of the foundation. You are a shining example of what we hope this profession can continue to be like.

[38:40] I want to thank you so much for your time, and I look forward to seeing you in New York City on September 17th, when you accept your award.

[38:53] Special thanks again to Sierra Signorelli of Zurich for joining us here on RIMScast. We congratulate her on being named an honoree at this year's Spencer Funding Their Future Gala, which will be held on September 17th in Manhattan at the fabulous Waldorf Astoria.

[39:14] Visit SpencerEd.org for more information and be sure to check out recent RIMScast episodes with another honoree from this year, Marya Propis, and Spencer Board Chair, Johnell Holly. Links are in this episode's show notes.

[39:30] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[39:47] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[40:04] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[40:17] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[40:30] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now!

RISKWORLD 2027 Registration | RIMS members can lock in 2026 rates now through Sept. 4

2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today.

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Opens in July! | www.rims.org/ERM2026

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS, the Foundation for Risk Management

The Strategic and Enterprise Risk Center

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

RIMScast Canada — Episodes Now Live

RISK PAC | RIMS Advocacy

RIMScast on YouTube!

RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available

Upcoming RIMS-CRMP Virtual Workshops:

RIMS-CRMP Exam Prep with PARIMA — Virtual — July 21‒22, 2026

RIMS-CRMP Exam Prep Workshop — Live In NY — Aug 27‒28!

Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars:

RIMS.org/Webinars

"Too Hot To Ignore: Heat-Related Injuries and Workers' Compensation" | July 16 | Presented by Zurich

"RIMS Student Series: Classroom to Career Part 1" | Sept 1

"RIMS Student Series: Classroom to Career Part 2" | Sept 9

Related RIMScast Episodes:

Spencer Honoree "Marya Propis: From Industry Leader to Talent Champion"

"Choosing the Challenge with Johnell Holly, Spencer Educational Foundation Board Chair"

"Risk Management Momentum with Tim Ryan" (2025 Spencer Honoree)

"The Strengths of DE&I Initiatives with Lilian Vanvieldt-Gray of Alliant Insurance Services" (2024 Spencer Honoree)

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"AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

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RIMS Publications, Content, and Links:

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RIMS Virtual Workshops

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About our guest: Sierra Signorelli, CEO of U.S. and Commercial Insurance at Zurich

Spencer Educational Foundation's Funding Their Future 2026 Honoree

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Jeff McKissack about participating and speaking at RIMS events, and his upcoming RIMS Texas Regional Conference session on August 11th in San Antonio, on the increasing overlap between reputation management and risk management. Jeff shares the critical impact of reputation risk and the growing threat of AI-generated content. He explains how even executives have caused reputational damage to their organizations, and he reveals a practical step that risk managers can take immediately to reduce the likelihood of reputation-related incidents and subsequent litigation. Justin and Jeff discuss the RIMS Texas Regional Conference, and how you can connect with Jeff after his presentation.

Listen for ways to implement reputation management strategies in your organization.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. We will be joined by Jeff McKissack of Defense by Design to talk all about reputation risk management. But first…

[:39] RIMS-CRMP Workshop. We are delighted to announce that on August 27th and 28th, RIMS President Manny Padilla will be leading the two-day in-person workshop at St. John's University at 101 Astor Place in New York City. A link to the registration is in this episode's show notes.

[:59] RIMS-CRMP Virtual Workshops. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Registration links are in this episode's notes.

[1:11] We have a summertime webinar. On July 16th, Zurich will present "Too Hot to Ignore: Heat-Related Injuries and Workers' Compensation." Register at RIMS.org/webinars and via the link in this episode's show notes.

[1:25] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:41] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:55] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[2:04] You can enroll now in the Virtual RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. ET. The registration link is in the show notes.

[2:28] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration will open in July. Be on the lookout for the call for nominations for the RIMS ERM Global Award of Distinction. Visit RIMS.org/ERM2026 in July for that announcement.

[2:49] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[3:08] On with the Show! Our guest today is the Founder of Defense by Design, Jeff McKissack, a noted authority in the fields of threat assessment and the prevention of violent crime, with over 35 years of experience.

[3:22] Jeff provides continuing education seminars for those in the educational, medical, legal, financial, real estate, human resources, and risk management sectors. He is one of the favorite speakers in the RIMS Texas Chapters.

[3:36] You can find him at the RIMS Texas Regional Conference 2026 on August 11th at 1:45, when he will present "How Reputation Management is Impacting Risk Management."

[3:46] As you will hear in this interview, his session at the RIMS Texas Regional will dovetail with the Risks of Physical Harm and Violence. He's here to provide a preview of his session.

[3:55] We talk about the Risk Management impact of social media, AI, and deepfake technologies on operations and profits, and how employee activity online and off the clock can ripple through staffing, operations, morale, productivity, profits, and brand image.

[4:10] This episode is a year in the making. Let's get to it!

[4:12] Interview! Jeff McKissack, Welcome to RIMScast!

[4:29] Jeff has a strong history with RIMS and the RIMS Texas Chapters. He has spoken at DFW RIMS on several occasions. Jeff Strege brought Jeff down to speak at Houston RIMS. He spoke at a couple of conferences co-hosted by South Texas RIMS.

[4:59] Last year, Jeff was at the Inaugural Texas Regional RIMS Conference in San Antonio. He's there again this year.

[5:15] Jeff loves RIMS, in general, because he doesn't have to explain himself. When he speaks to HR or risk management, his two favorite positions, even above the C-Suite, risk managers and HR directors totally get what he does and why.

[5:34] Jeff says the common response he typically gets is they've never met anybody who does what he does or speaks the language he speaks. He's heard it for 39 years. He loves speaking to people in risk and insurance companies because he speaks the language of liability.

[5:54] Jeff does a lot of work with attorneys, as well, on both sides. He tells folks he's trilingual because of all these different industries. He's multifaceted.

[6:06] Jeff talks about years of working with risk professionals and feeling their pain points. He reverse-engineers many of those scenarios. He asks, Where are the points where this could have been prevented, or at the bare minimum, mitigated?

[6:43] A president of an association of independent electrical contractors called him for help. He asked, You have people working hours, in isolated locations, with expensive equipment on their trucks? What could go wrong? Without much of a push, he's able to jump in and help.

[7:20] Jeff says there are only three types of businesses: businesses that have internal employees, businesses that have external employees, and businesses that have both. The risks for those three categories are very different from each other.

[7:40] Jeff explains some of the differences in risks between having internal employees operating equipment and external employees in trucks on the road with equipment. There are different security concerns, risk concerns, and liability concerns. Address all the concerns.

[8:16] Jeff recently saw a police video of a dump truck plowing through an intersection, with its brakes out, into a ravine. Fortunately, no one was killed. Why did the brakes give out? Who was responsible for checking them? They dodged a major bullet by nobody being injured or killed.

[9:11] Jeff says he has three wheelhouses: physical risk, data risk, and reputational risk. He doesn't do active shooter training. He deals with factors that can lead to an active shooter before the shooting happens. He deals in prevention, not in reaction.

[9:42] Jeff doesn't deal in cybersecurity but in data. He doesn't talk about people who hack your computers; he talks about people who hack your people. That bleeds over into reputation management.

[9:57] Reputation management, with the internet and social media, has taken on a different dynamic.

[10:07] Either your employees go online and self-incriminate themselves by putting something out there to the world that reflects upon your company, or they do something off the clock that can still have an impact on your company and its reputation.

[10:22] Jeff mentions two courtrooms that we want to avoid: an actual courtroom, and the court of popular opinion.

[11:01] Jeff says some things before social media still ended up being headline stories in the traditional media that reflected negatively upon employers. Social media has massively amplified that dynamic.

[11:31] Jeff's talk is about how reputation management is impacting risk management. It will be held on August 11th at 1:45 p.m. during the RIMS Texas Regional Conference 2026. It examines how reputation management and risk management increasingly overlap.

[11:53] Jeff says risk management and HR management often think that whatever happens off the clock is not on them — until it is. There was an Assistant District Attorney some months ago who walked out of a bar "two out of three sheets to the wind."

[12:17] The cops wanted her to get an Uber and go home. She made a huge scene about it, captured on the bodycams. She ended up being arrested. "You don't know who I am. You can't do this to me!" The next day, not only was she fired, she lost her license.

[12:33] There are YouTube channels devoted to police bodycams. People and companies suffer the reputational consequences of those videos. Once they're on YouTube, they go viral.

[12:54] A lot of channels have hundreds of thousands to millions of views, reflecting on a company's public image, even though it was one of their employees off the clock.

[13:40] Jeff says the biggest thing is education and training. We think people know what we know and the way we think. No, they don't. Jeff compares it to schools teaching social ills. As risk managers, you need to teach employees responsibility if you want to change their behavior.

[14:40] Jeff says, Do not expect what you do not inspect.

[14:50] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes.

[15:09] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through the 12th at the Grand Hyatt on the San Antonio River Walk. Visit RIMS.org/Events for registration information.

[15:26] The hotel cutoff date is July 10th. Reservations may still be made after the cutoff date subject to availability; however, the negotiated group rate is no longer guaranteed past July 10th, so reserve now.

[15:40] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[15:51] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[16:08] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[16:24] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[16:39] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration opens in July.

[16:49] Be on the lookout for an announcement about submissions for the RIMS Global ERM Award of Distinction. Visit RIMS.org/ERM2026.

[17:00] Let's Return to Our Interview with Jeff McKissack!

[17:07] Jeff says some of these reputational concerns have been C-Suite executives. Jeff just taught about a mayor arrested in Kentucky for shoplifting a $70 pair of shorts at a department store. Jeff guesses the mayor felt he was owed those shorts.

[17:32] Last week, Jeff was talking about a city manager in Texas who felt it was a good idea, when she took her employees to a conference, to take them to a local strip club that night. After a few drinks, she got up on stage and started dancing around the pole.

[17:46] Somebody recorded that and put it on social media, and the city manager got fired. City managers aren't easy to come by. In risk management, we have to understand that when these types of things occur, they impact multiple areas, both immediately and simultaneously.

[18:05] These incidents affect staffing, operations, morale, productivity, profits, and public image. Every one of those six areas has associated dollar figures. This is why reputation management now must be taken into consideration under risk management.

[18:50] Jeff says if I get an employee compromised in a controversial, scandalous, or criminal situation, whether I capture them on camera, or if I create the environment for said compromise to occur, and I set them up to be on camera, do I have them in the palm of my hand?

[19:25] Reputational concerns, if they're not addressed and talked about before, and an employee gets caught in something that happens or was made to happen, it can be used as blackmail to have them do things internally because they have access that outside parties want.

[20:08] About a year ago, Jeff says a case made national news of a high school principal who was facing the wrath of his community because of a racial rant he was supposedly caught saying as the principal of a school with minority students.

[20:27] It came out that the athletic director had taken a digital sample of the principal's voice, maybe from a voicemail, and created an entire verbal tirade from scratch. That was proven through forensics.

[20:47] Meanwhile, the principal had almost lost his job and career and was facing physical threats to his family from the public over something that had never happened. That showed Jeff we were entering a new atmosphere.

[21:03] Jeff says, Sora 2, one of the newer AI video platforms, has already been called out for causing problems for police because people are creating videos of real people committing not-so-real crimes. With AI, it looks real.

[21:19] Jeff describes a hypothetical situation where an AI video would be used to charge an employee of a crime, leading to an arrest and a record. Think of the liabilities you and your company would face. None of those are cheap.

[22:02] Justin asks about verifying the legitimacy of a video. Jeff says there is software out there that does a pretty good job of figuring out if this video is AI-generated.

[22:32] What camera captured the action? Was it an internal, company-owned camera, or something someone supposedly captured on a phone camera? One of those is more susceptible to manipulation.

[22:53] Now, you have to be a little bit skeptical. Never has there been a more important time in our history to live by the adage, "Innocent until proven guilty." Jeff says a healthy dose of skepticism is called awareness.

[23:50] Everybody has vulnerabilities. The first step in preventing a lot of these things from occurring is recognizing your own vulnerabilities, stereotypes, and false premises. Jeff says stereotyping is judging based on appearances; profiling is judging based on behaviors.

[24:26] Jeff says you almost have to go into this blind, deaf, and dumb to do a true, analytical, unbiased evaluation.

[24:34] Sponsorships! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. RIMScast is proud of its longstanding relationships with AXA XL, Global Risk Consultants, Alliant, Zurich, and more.

[24:57] Links to many of these episodes are in the show notes. RIMScast sponsorships can be bundled with whitepapers and webinar sponsorships.

[25:04] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them!

[25:18] Reach out to Ted Donovan at [email protected] or [email protected]. Let's find the best opportunity for you and your organization.

[25:30] Let's Conclude Our Interview with Jeff McKissack!

[25:54] You can't do anything about the various AI generation platforms out there. People, for the most part, are using them for all the right reasons. The thing you have to be concerned about is if it's used to accuse someone of something.

[26:10] Jeff describes speaking to the Society of Government Meeting Professionals. They are meeting planners for all the alphabet agencies, the Department of War, FAA, CDC, and more. Jeff has spoken at their annual conference for years.

[26:26] Jeff told them, you're bringing all these people here for an annual conference at one place, at one time, under one roof. Who do you think might want to compromise someone there, so that by the time they return home, they've been puppeteered?

[26:44] Jeff is getting these meeting planners to start thinking about security in a different way, and educating the people.

[26:50] "Hey, we love having you here, but when you go out to bars and restaurants, here are some things you need to think of, because some people here may know who you are and what you represent by way of access."

[26:38] Jeff says, if something happens, and they get lured back to a hotel room, for various things, and they get slipped a Mickey and pass out, and a couple of weeks later they get a video by text or email, they don't even know if it's a deep fake or not because they were blacked out.

[27:27] These are things we all have to understand how easy it is. Jeff constantly admonishes employees, when he speaks at that level, to remember it's not about them. They may not have wealth, but they absolutely represent access to things that people want.

[27:48] You have to understand that you may have a target on your back you don't realize you have. When people approach you, ask yourself, does everything that happens in Vegas stay in Vegas? Or does it stay on social media and YouTube? YouTube remembers.

[28:50] Jeff shares something from his presentation. The first step is not the stopping point. The first step is "Do you have a social media agreement in writing that your employees have signed?" If not, you, HR, and your General Counsel need to get together and word-smith it, ASAP.

[29:18] Jeff says he talked to a VP of a company with over 8,000 employees. When the VP was hired as a VP, he was paid to sign two documents. He was paid $50 to sign the NDA, so he wouldn't take the sales list if he left. He was paid $100 to sign their social media agreement.

[29:39] The company was more concerned about him doing something that impacted its public image than about taking the client list. First step is to wordsmith that agreement and how you incorporate it into a Code of Conduct as far as the off-the-clock expectations.

[30:08] Jeff shares a case from New York City where a young sitting judge had an OnlyFans page. He was fired for it and tried to fight it. He lost because the verbiage in the City Manual for his position said: "extra-judicial activities … do not detract from the dignity of judicial office."

[31:02] Jeff spoke at a risk management conference. He showed three lawsuits that were settled in the last two weeks: $125K, $225K, $485K for employees at state and government universities, entities, and institutions over the Charlie Kirk assassination. They had been fired.

[31:20] They came back and sued for wrongful termination and got settlements because there was nothing written that dictated employee behaviors online.

[31:45] You've got to have the paper trail or digital trail. If it's not in the Employee Handbook, add it as an addendum they sign, and put it in their file.

[31:57] Next year, when new hires come on board, have it as part of the Employee Handbook, whether it's the social media agreement and/or your expectations/code of conduct. At the bare minimum, have those things in order. That's your starting point.

[32:40] Jeff says when you hire someone, treat the Handbook like the Apple Agreement. Going into detail about the policy is best addressed in education and training.

[32:59] Jeff talks not only to executives but also to employees. The biggest thing he is trying to get HR, Risk Management, and the C-Suite to understand is that if you're going to alter the behaviors, you've got to teach them what to do otherwise.

[33:30] You're not going to get your employees to go cold-turkey on social media, but you can teach them to apply critical thinking skills so that they police themselves and you don't have to.

[33:45] You have to do it in a way that tells them what's in it for them. People expect them to come home with a paycheck. Tell them all their plans can be interrupted if they do something foolish now.

[34:39] Sometimes, Jeff does not have time in the session to take questions from the audience. He always tells folks he'll be around in the hallways because they may have questions they don't want to ask in front of everybody else there. Or, reach out to him on LinkedIn, or call him.

[35:22] In this arena, a lot of people don't want to put out their concerns. Justin says Jeff is very approachable. He wears a hat, and it has become a branding point for him. Justin asked him for a headshot with the hat, to make him more recognizable, because people know him in Texas.

[36:58] Justin asks about other cases involving social media outside of work. Jeff refers to the city manager who was let go because of a pole dance that showed up on YouTube, and the shoplifting mayor, also on YouTube. The judge had a side gig that was questionable behavior.

[37:35] Jeff says some teachers have been fired over video where they had their kids in the background in the classroom while they were twerking, or dancing with kids. One teacher had his students give him a haircut in the classroom.

[37:51] Jeff recalls the wording cited from the City Handbook about the dignity of the office. That covers a lot. Things like that are subjective, but most people know it when they see it.

[38:15] Justin asks if we're in a society where you have to live your life assuming that everything is going to be broadcast? Jeff wouldn't say broadcast, but at least captured on camera.

[38:25] When Jeff is doing employee training, he goes through cameras that are on the market. You're only thinking of the cameras you see. You are not thinking of cameras that could be out there, recording you. The ATM captures you and looks across the street.

[38:52] When Jeff parks in maybe a questionable area, he always tries to find a Tesla. On average, there are seven or eight cameras around that Tesla. He'll take a picture of the license plate of the Tesla next to him, so if anything happens, he can give the picture to the cops.

[39:38] Jeff says he relays to people, executives and employees alike, strategies, critical thinking. How do you use technology to your favor instead of having it used against you?

[39:51] Jeff McKissack, thank you so much for joining us here on RIMScast. Jeff says he is looking forward to seeing you all in August!

[39:58] Special thanks again to Jeff McKissack of Defense by Design. Be sure to attend his session at the RIMS Texas Regional Conference in San Antonio at the Grand Hyatt on the San Antonio River Walk on August 11th.

[40:13] Jeff McKissack will deliver the presentation, "How Reputation Management is Impacting Risk Management," at 1:45 p.m. Be sure to follow up with him in the hallways afterwards and let him know that you heard him here on RIMScast.

[40:27] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[40:44] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[41:00] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[41:14] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[41:26] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now!

RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available

RIMScast on YouTube!

"RIMS-CRO Certificate Program In Advanced Enterprise Risk Management" | July‒Sept. 2026 Cohort | Led by James Lam | Register Now!

2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session!

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Opens in July! | www.RIMS.org/ERM2026

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS, the Foundation for Risk Management

The Strategic and Enterprise Risk Center

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

RIMScast Canada — Episodes Now Live

RISK PAC | RIMS Advocacy

Defense by Design

Upcoming RIMS-CRMP Virtual Workshops:

RIMS-CRMP Exam Prep with PARIMA — Virtual — July 21‒22, 2026

RIMS-CRMP Exam Prep Workshop — Live In NY — Aug 27‒28!

Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars:

RIMS.org/Webinars

"Too Hot To Ignore: Heat-Related Injuries and Workers' Compensation" | July 16 | Presented by Zurich

"RIMS Student Series: Classroom to Career Part 1" | Sept 1

"RIMS Student Series: Classroom to Career Part 2" | Sept 9

Related RIMScast Episodes:

"Strategy and Change with Ward Ching and Aaron Olson"

"Mid-Year Risk Roundup 2026 with Morgan O'Rourke and Hilary Tuttle"

"Live From Texas 2025!"

"Leadership Lessons with Major General (Ret.) Robert F. Whittle Jr., RIMS Texas 2025 Keynote"

"Risk and Clarity with Huw Edwards, RIMS Texas 2025 Keynote"

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About our guest: Jeff McKissack, President, Defense By Design

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews RIMS Vice President of Content & Publications, Morgan O'Rourke, and RIMS Risk Management Magazine Managing Editor, Hilary Tuttle, on the Q2 digital edition online now. The discussion starts with Hilary's Hurricane prediction and the risks associated with storms. They discussed the risks of applying AI in the risk industry, and how using it for the simple tasks means your remaining tasks are the hard ones. To get the best results, be polite to your AI! Justin asks about Red Teaming, its purpose, and how it operates. Human behavior is an important consideration in risk management.

Listen for pointers on what to do as a risk manager for the rest of 2026, and some things to avoid.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. This is our mid-year risk review, and we will be rejoined by Morgan O'Rourke and Hilary Tuttle. They are here to discuss the major trends shaping the risk landscape; what's happened so far in 2026, and what we can look forward to. But first…

[:47] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Registration links are in this episode's notes.

[:58] We have a summertime webinar. On July 16th, Zurich will present "Too Hot to Ignore: Heat-Related Injuries and Workers' Compensation." Register at RIMS.org/webinars and via the link in this episode's show notes.

[1:13] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:29] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:42] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[1:52] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes.

[2:16] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration will open in July. Be on the lookout for the call for nominations for the RIMS ERM Global Award of Distinction. Visit RIMS.org/ERM2026 in July for that announcement.

[2:37] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:55] On with the Show! We are in the middle of the year, and that means that it's time for our mid-year risk review with two of my favorite people, Morgan O'Rourke, RIMS Vice President of Content & Publications, and Hilary Tuttle, Managing Editor of RIMS Risk Management Magazine.

[3:14] Morgan and Hilary are joining us today to discuss some of the highlights of the Q2 Edition of RIMS Risk Management Magazine, which is available now.

[3:21] We're going to talk about hurricane preparedness, reputation, red-teaming, AI, and other emerging trends that risk professionals should be aware of, avoiding, and embracing. We're going to have a lot of fun! Let's get to it!

[3:35] Interview! Morgan O'Rourke and Hilary Tuttle, Welcome Back to RIMScast!

[3:42] Justin mentions that the Publications Department is a team of five. After nine years, Justin is still the second-newest person.

[4:29] Morgan says Risk Management Magazine has articles going up every week. Every quarter, they have a digital issue, reminiscent of a physical magazine, with pages and a table of contents. When this episode is released, the Q2 digital issue was published a week ago.

[4:54] RIMS Risk Management Magazine has occasional special issues, on ERM and the Special RISKWORLD Awards Issue. Hilary says the Editor's Picks are articles you may have missed on the website. Morgan says it's sometimes new stuff, or archival stuff that's still relevant.

[5:30] Morgan says they try to publish in a frequency and format that everybody can appreciate. Morgan and Hilary miss the physical print magazine. Justin thinks they've maintained the essence of the print magazine. Morgan says that's what the digital magazines are meant to do.

[6:22] Morgan says print is not necessarily the way that everybody consumes things nowadays, so you've got to be where everybody's attention is, and that's what we're trying to do.

[6:40] The Marquee article in the Q2 digital edition is Hilary's coverage of the 2026 hurricane season outlook. Hilary is well-versed in hurricane preparedness and seasonal outlooks. Hilary says this year, a lot of the forecasts are calling for a below-average season.

[7:26] This year, Hilary focused on factors that will make the season different. She focused on macroeconomic volatility, geopolitical instability, and U.S. Federal budget cuts as some of the biggest complications this year that are making a fragile and challenging recovery landscape.

[8:03] Hilary says we talk about increased prices in disaster materials, preparation materials, supply problems, and a Federal support system characterized by defunding or dysfunction, and what that means for risk managers tasked with hurricane preparation or recovery.

[8:43] Hilary says, looking beyond the forecast, it's important to assess how your resilience strategy is going to hold up in practice. Even a single landfall is going to be more expensive, potentially. The cost may be higher than ever. Response materials are 40% more expensive.

[9:28] Justin says we had a risk engineer from Global Risk Consultants on the show recently, talking about the physical preparations, 48 hours, 36 hours, and 24 hours before an impact.

[9:56] Hilary says, between materials shortages and price increases, the supply chain is potentially going to be a huge problem for disaster preparation and responses. Getting things is difficult with the Strait of Hormuz closed. People are seeing it across industries and materials.

[10:22] Some response materials are also going to be more expensive because of the increased cost of oil. Hilary found that interesting when reporting the piece. Generator fuel is drastically more expensive than it has been.

[10:43] It's a best practice to have 72 hours' worth per generator on site, if you're in a high-risk area.

[11:55] Materials that require petrochemical input include plywood and structural lumber. Boarding your windows is going to be more expensive, if you can get it. Transport costs are going to be drastically higher.

[11:11] Heavy-duty plastic sheeting is a petrochemical-related product. Some products also use by-products of the crude oil production: polymers, petroleum derivatives, and plastics, like rubber seals. All of those will be more expensive as crude oil fluctuates.

[11:40] Morgan says you have to prepare for increased costs. You may be underinsured for the costs of materials you may have insured for in the beginning. Be aware of increased costs and do what you can to prepare, whether by increasing coverage or buying more in bulk.

[12:10] If you're going to face increased costs, the more you do beforehand to offset those costs is probably for the better. Hilary says she put together 10 detailed and useful tips. One thing that she bumped up the list is to revisit your insurance values and policy limits.

[12:40] Hilary thinks the risk of underinsurance is worth underscoring this year. It is going to be drastically more expensive to rebuild. Make sure you have the coverage you need to cover those expenses and the expenses of potentially needing to relocate when things are closed.

[12:56] Car parts are drastically more expensive, so if you operate fleets, it's worth noting that those metals are delayed and pricier because of tariffs and supply chain problems.

[13:11] Hilary says it's also worth noting that we had Tropical Storm Arthur last week. It never reached hurricane strength, but it still managed to do four to six billion dollars in damage, according to initial estimates from AccuWeather.

[13:27] Tropical Storm Arthur hit the Gulf Coast and did a lot of damage in terms of business interruption, delayed flights, and extended power outages. In terms of business continuity, it doesn't need to be a hurricane to do a tremendous amount of damage.

[13:47] AccuWeather says the hurricane classification system is solely based on wind speed. Wind does not do as much damage as water. Storm surge, inland flooding, and water damage are not reflected in hurricane classification. We shouldn't just be concerned about hurricanes.

[14:21] The peril and the need for preparation are just as dramatic for other storms.

[14:28] Morgan notes that the storm season started on June 1st, and we had a billion-dollar potential damage storm within a week or so. Hilary says it's one of the earliest we've seen.

[14:46] Morgan says they're usually more in the fall. In some years, we've seen tropical storms before the season. Storms are not necessarily confined to the Atlantic Coast. There are Pacific storms to take into account.

[15:18] Morgan learned about Pacific storms from Hilary. In between Hilary's article drafts, there were three Pacific hurricanes that formed, so she had to update the story. The Super El Niño is the climate pattern that creates these storms in the Eastern Pacific.

[15:47] With the Super El Niño, you get more activity in the Eastern Pacific and less in the Atlantic because of warmer waters in the Pacific and more Trade Winds in the Atlantic that act to break up storm formation.

[16:05] Parts of Central America, Mexico, and the West Coast are going to be at increased risk. Hawaii, as well. Morgan says one of the more impactful storms on the Pacific was named Hilary in 2023. Hilary was a billion-dollar storm that killed three people.

[17:21] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes.

[17:40] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk.

[17:51] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information.

[18:01] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[18:18] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[18:35] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[18:50] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration opens in July.

[19:01] Be on the lookout for an announcement about submissions for the RIMS Global ERM Award of Distinction. Visit RIMS.org/ERM2026.

[19:12] Let's Return to Our Interview with RIMS Risk Management Magazine's Hilary Tuttle and Morgan O'Rourke!

[19:31] Justin says artificial intelligence is on people's minds. It's evolved into a data governance and operational risk challenge.

[19:52] Morgan's first reaction concerning AI is, "What else can we say about this?" There is a little bit of burnout about AI. Hilary says we get so many articles. Morgan says there does need to be attention paid. What are your AI use policies? Are your employees introducing risk with AI?

[20:42] Morgan says there was a cybersecurity survey cited in the issue. The biggest risks they are seeing are misinformation and disinformation. IT people don't consider themselves or their companies prepared to identify those risks across the board. Justin quotes that ISACA poll.

[21:45] Hilary says you're seeing a lot of shadowy AI use; a lot of unlicensed and unsanctioned use. If your company allows you to use Copilot, but you're using ChatGPT and Gemini, that's unsanctioned use.

[22:15] Morgan says dropping an entire report in that might be proprietary information, to distill that into a public environment; not just opening the program, but what you're putting into it, may be stuff that no one would want out.

[22:31] Hilary says a recent study showed that 90% of organizations have employees who regularly use personal AI tools at work. Forty percent of companies have bought official subscriptions to AI services because they get different privacy protections than free versions.

[22:51] Fifty percent of companies are running on shadow AI. They're either letting employees foot the bill by using personal subscriptions or using a free mode, and that's a disaster. One of the things a lot of organizations aren't thinking about is the cost of subscriptions and tokens.

[23:10] A lot of companies that are starting to adopt AI at a large scale and are footing that bill are running into astoundingly large bills for these services and not factoring in that it is not free computing power. It is not a free tool.

[23:28] Now that some of these companies are going IPO, if tools are free, they're not going to stay free. Morgan says, it's one of those things that, although it's not necessarily something you want to hear for the fifteenth time, it doesn't mean you shouldn't be doing something about it.

[24:03] Hilary adds that hidden costs are a big thing people aren't thinking about. People are thinking about governance, which is incredibly important. The market for that is also booming. People have an interest in making you afraid of it, as well as selling it to you in the first place.

[24:22] Hilary says, the governance market is going from $200+ million two years ago to an estimated three or four billion dollars by 2037. It's a huge industry to make you dependent on AI and to charge you to govern it or make it safer.

[24:43] Hillary says we're seeing studies that companies have made huge investments in AI, and are not seeing an ROI. A recent study showed that 5% of organizations have had transformative ROIs. The other 95% said there is zero measurable impact on Profit & Loss, if not a net negative.

[25:10] Hilary says one CEO said that unless it's for coding specifically, we're not going to get monetary value whatsoever out of AI. A lot of companies that have fired people are starting to reverse course really quickly.

[25:24] Hilary says companies that make AI are walking back a lot of their claims about how transformative it's going to be. They had said there would be a job apocalypse because widespread job automation would be so easy. They're walking that claim back.

[25:47] The COO of Uber said that gains in productivity were absolutely nothing compared to the increased AI-related expenses they are experiencing. They're walking back a lot of their investment.

[25:58] The former Chief of AI at Microsoft said that employees default to automating tasks that they dislike, rather than ones that create value. Morgan says it speaks to being practical about what you're going to get out of it, as opposed to it being a magic button to press.

[26:28] Morgan says that in the early going of anything, there's a spike of promise and then reality kicks in. AI is not going to be tossed aside. Hilary says there's a hype bubble around AI, that AI is for everything, and that AI would replace everyone. Companies are laying off.

[26:59] Hilary says last year, 125,000 tech workers lost their jobs. In 2026 through June, already 120,000 tech workers have lost jobs. We are seeing an overinflated promise of what AI is going to be. People are slowly beginning to realize AI is to augment employees, not replace them.

[27:25] Morgan says there's a push for "the human in the loop." People have come to recognize that we can't leave people out of this, if only to check the accuracy of results. You can't replace workers because there's stuff that the AI can't do.

[27:42] Morgan says AI is always going to tell you what you want to hear. It's going to give you stuff that's already out there. It's not giving you new information; it's just distilling it differently.

[27:55] Hilary says there's an important core competency people need to be developing now. Taking a quick look at a thing and saying it makes sense is not an adequate amount of oversight to provide for things you're using AI for, particularly as you start using it more and more.

[28:14] AI is structured to give you things it thinks you want, or to predict what you would do. The results may seem well-written, but you must pay attention to what's in it and whether it makes sense.

[28:33] Hilary says some people submit stories to RIMS Risk Management Magazine that simply restate things; they don't explore ideas. With AI, don't just look to approve it; look to assess it and analyze what it is doing before you put it forward.

[29:14] Hilary says, to be very clear, RIMS Risk Management Magazine does not accept articles that are written by AI. When it comes to articles about AI, they've seen just about everything.

[30:11] Morgan says he would probably be interested in practical use cases that are not promotional, if somebody found some success using AI, that fellow risk professionals could benefit from, as well, and not something so proprietary that it only works for their company.

[30:26] Morgan says it should be something like where AI might be able to help risk managers in general. A lot of people are using AI for different things. It's not about the only best practice, but helping the magazine establish a list of best practices for AI in the risk process.

[30:50] Hilary says it's also helpful to get articles that have practical guidance on what people are using that is useful in terms of governance. How are they crafting effective policies?

[31:01] How are they working to train their workforce on best practices so they're using AI responsibly and getting the most out of it? How are they exploring the ideas of customization, if that is something their company is doing in-house? Practical articles.

[31:17] Hilary says she is seeing a lot of articles on legal exposure and how that is shaping up since all of the case law is so nascent. What are the exposures? What are the liabilities other organizations are learning in real time that you can start guarding against?

[31:35] Morgan says there are a lot of cases working through without a lot of precedent. Some of these cases will become precedents. Four years ago, everyone was talking about basic, general risks. Now we are talking about specific risks of real applications.

[32:04] Hilary says there is interest in the costs of AI. That's underexplored and would be interesting to read about. Are companies seeing that it's having impacts they haven't anticipated? Every prompt you give to ChatGPT, even 'thank you," is a payment to OpenAI.

[32:54] Hilary says a study showed that 80% of people are saying "please" and "thank you" to the AI because they don't want to make it angry; 18% are doing it because they say it's just the right thing to do. Hilary puts "thank you" at the end of a prompt, so it's not an extra prompt.

[33:22] Hilary says, some AI platforms perform better when you talk to them politely. ChatGPT will give you more coherent, nicer, and polished answers if your input is polite. Morgan refers to the Terminator movies. Hilary says, You want to be polite, but you don't want to be empowering.

[34:02] Hilary says, in a video from the American Psychological Association, a professor from Michigan State talked about the underappreciated problem with AI, that if you automate the easy parts of your job, then 100% of your job is the hard parts, a guaranteed ticket to burnout.

[34:39] You've made the easy wins and the low-level stuff that your brain needs to recover, a part of your job that you don't get to do. You don't get those bits. Everything is complicated, difficult, and exhausting. That's not how the brain is designed to function.

[35:00] Morgan says, We don't want AI to do the fun or easy stuff. Hilary says, Think of a call center. If it's a simple thing, like "What time do you open?", or "Do I have a warranty?", AI can close them easily. That leaves you with a furious customer yelling at you for 20 minutes.

[35:25] If that's all you do, all day, every day, what is your life going to be like? Then you start putting things on hold because you need a second. If your goal was efficiency, you're not making it more efficient; you're adding more buffer time because you can't handle that all the time.

[35:59] Another Quick Break! The Spencer Educational Foundation's Funding Their Future Gala 2026 will be held on September 17th in New York City at the Waldorf Astoria. This year, Spencer will honor Sierra Signorelli of Zurich and our recent guest, Marya Propis of RT Specialty.

[36:19] A link to the Gala is in this episode's show notes.

[36:21] We have reached the deadline for the Spencer Educational Foundation's Risk Manager on Campus submissions. Grant awardees, colleges, and universities are typically notified in September.

[36:37] General Grants are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th.

[36:48] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information.

[36:56] Let's Conclude Our Interview with Morgan O'Rourke and Hilary Tuttle of RIMS Sisk Management Magazine!

[37:09] Morgan and Hilary have released the Q2 Digital Issue of RIMS Risk Management Magazine. There's an article about red teaming. Morgan says Red teaming is conducting a crisis simulation. You have a team that is the adversary, challenging your assumptions and plans.

[38:04] Hilary says they are immersive exercises that involve some form of offense and defense. It's basically wargaming.

[39:10] The feature on reputation red teaming suggests that organizations need to prepare for the first 48 hours. In a crisis, it's the first 48 hours of the crisis as much as the crisis itself.

[39:40] Morgan says social media is going to amplify the impact of a crisis immediately. Consider the knee-jerk reactions you see online to anything that's happening. If your company loses control of the narrative, people are telling a story that isn't your story and isn't accurate.

[39:55] Morgan says there was a story that Jeff Bezos had said that we should be using water for AI purposes rather than human consumption because AI will solve more problems. But Jeff Bezos never said that. Social media amplifies something before people question its validity.

[40:37] Morgan says we're in an environment where "crazy," more often than not, sounds possible. Hilary says social media is a force multiplier for a lot, particularly when there are zero content moderation controls, leading to misinformation, disinformation, and hate speech.

[41:04] Morgan points out that even with moderation, something can be put up and seen before it's moderated. The Bezos story is on Snopes that it's not true, but how many people follow up a story like that after they see the headline? They might not know where they saw it.

[41:34] The point of throwing these reputation red teaming exercises together is to acknowledge the fact that not only do you need a plan, but the plan has to be in place to be able to move quickly.

[41:44] When it comes to a crisis that happens within your organization, one of the biggest parts of it is the reputation elements. People run with it, "Not only is this a bad thing an organization did, or a questionable thing, but they're terrible for it and irredeemable."

[42:04] If you can't put out a statement in the first 12 hours after something happens, because you weren't ready for it, that means you entirely miss out on any opportunity to correct that misinformation and be a part of the narrative that actually steers the conversation.

[42:30] Morgan speaks about attention spans. People see a headline and then move on to the next headline. Your first impression may be their only impression. Act quickly. Have the people in place and the plans in place. The exercise is for people to poke holes in your plan.

[42:59] Justin says it's a good article, and the author, Ted Skinner, gives you actionable takeaways. Morgan likes the article but had not heard of red teaming.

[44:05] Hilary says red teaming is very common in cybersecurity. This is the first time they have run across it in other applications.

[44:48] Justin brings up human behavior. It's in the Q2 issue. It permeates every risk. You can't just let AI do your job for you; you have to put a human perspective and input into it. Human behavior impacts employee misconduct. There was an article on it in the RIMS Weekend Read.

[45:17] Employee misconduct is on the minds of risk professionals and executives.

[45:27] Morgan says culture is a good stopgap measure to have. A risk manager can't be everywhere at once. If your organization has a risk-aware culture, it can stand in for you when you're not around. If everyone's aware of risk, you don't have to be the only person watching.

[46:02] Hilary says culture is your sunscreen. It's your everyday, it's your automatic. It's the thing that you need to do to prevent the majority of photoaging and skin cancer. Some of the more subject-specific areas are your serums to spot treat your hyperpigmentation and redness.

[46:21] It depends on what your specific skin is like. Are you focusing on wrinkles? Are you adding antioxidants? The sunscreen is the thing you need every day, as it covers the vast majority of problems.

[47:05] Morgan says the human element is always necessary to interweave into all of this because it's one of the things you can control. You can't control geopolitical events or storms, but you can control whether or not you put the sunscreen on.

[47:25] You can control whether or not you have plans in place for any disaster. That's what allows you to sleep at night. You can do something in an environment where it feels like nothing can be done. That can get overwhelming.

[47:42] Hilary says part of overcoming that overwhelm is the empowerment that comes with educating yourself and doing the work. You can't control geopolitical risk. What does that mean for your organization? What does that mean for your cost of materials?

[48:06] It takes time, and it's not glamorous to look up how much asphalt we use in a year. The stuff that keeps all the gravel together in asphalt is a by-product of oil production, and drastically increases in price. What does it mean if your supply chain is going to be drastically delayed?

[48:33] Those are the ways you can empower yourself and make a difference within your organization with some of these big, ephemeral risks. You need to think, What does this mean for us?

[48:49] Hilary says one of the things we evaluate with our goals and the single most common edit note that I give on submitted articles, is "So, what? Yes, that is a risk. What does it mean for you? What do you do about it? What consequence does this have for your organization?"

[49:20] Those questions are the distinctions between an article I read and an article I publish. Those are the distinctions between a risk manager who is informed and a risk manager who is empowered.

[49:55] Justin asks, based on the Q2 issue of RIMS Risk Management Magazine, and on what they heard and saw at RISKWORLD 2026, what actions should risk managers take before the end of 2026?

[50:12] Morgan says it depends on where you come from and understanding where risks exist, for you, and breaking it down to the things you can control, looking at where all these big-picture things intersect your business.

[50:33] That comes down to strengthening your fundamental risk management practices to make sure you don't lose sight of the basics.

[50:47] There is some talk of the property insurance market softening. That may give you more funds to invest in training or in infrastructure improvements. At least, reassess your policy's terms and conditions and see if you might take advantage of pricing.

[51:12] Those are the fundamentals of risk management. In a time when everything is crazy, when it's a polycrisis environment, those are the things you're going to have to do; otherwise, it will get too crazy to look at all the big stuff.

[51:34] Hilary agrees. Focus on localized impacts, whether it's the impact of the supply chain disruption on your business, or a storm, or inflation, and also, work on your skill set, learning to have a critical eye when it comes to how and if you're using AI, and what it's being used for.

[52:00] Hilary says there's a 56% wage premium for workers with AI skills, according to PWC. A lot of self-improvement and educational things are critical to doing your job well now, but they also set you up to be more prepared career-wise.

[52:16] Hillary touches on thinking about what some of these impacts do to your workforce. AI is a tremendously stressful and confusing one for your workforce, so redirecting some money into training programs is a great option. You'll have a better workforce, and they'll feel better.

[52:41] Studies show that the more training you offer, the less resistance you get when it comes to tool integration, and the better outcomes.

[52:51] When it comes to storm season, you're dealing with a standing inflation, but so are your workers. If they can't afford plywood to board up their houses, that's also a problem. If they are displaced, you have a displaced workforce, and that means business interruption.

[53:07] What can you do to assist? Is that ordering things in bulk, so you have some purchasing power to help them obtain supplies? Is that providing emergency kits so they are prepared at home, and you have a more prepared workforce that comes back to work sooner?

[53:28] Think small when the big stuff is a little too big.

[53:41] Morgan says, the other side of the coin is to avoid getting distracted by headlines that maybe don't have as much relevance. Educate yourself to know what technology works for you. If you just take things on faith, that may not be fit for purpose for you.

[54:14] Hilary says a wait-and-see approach with a lot of emerging technology is proven to be the best course of action, and Hilary recommends it. Focus on augmenting employees, not replacing them.

[54:36] According to Gartner, 50% of AI layoffs are going to be reversed by 2027. A lot of people who acted fast and cut people because they overestimated the impact of AI are going to be hiring those people back, and probably for more money, not to mention retraining costs.

[55:02] Some people are calling it a layoff boomerang. It's coming back. Those who were not overly hasty are the ones who will fare better in the long run. That's an important lesson to keep in mind when it comes to making some of these decisions, going forward.

[55:28] Morgan says, nobody would have said we're going to have a war that's going to dominate all the headlines. Hilary says, if you told me there was going to be a war, Iran wouldn't have been my first guess.

[55:42] Morgan says, We're starting storm season. We're anticipating it being a mellow storm season. It doesn't mean it will be. It's the nature of the game that there are a lot of unanticipated things.

[55:57] Hilary says a dry hurricane season comes with increased dryness, which means increased wildfire risk. It's always something. It's either flooding or it's burning. Which you prefer is largely subjective.

[56:24] Morgan says it's one of those years where it's tough to predict anything, because every day it's something new, which is what keeps risk management interesting. Hilary agrees. Morgan says he's still interested.

[56:49] Justin says, It's been great to have you rejoin us. It's always fun! These are some of my favorite episodes to produce. Everyone, go to RMMagazine.com. RIMS members get access to the "turn the page" edition, but anyone can view a lot of the articles online.

[57:11] The Awards issue is also at RMMagazine.com and RIMS.org/Awards. There's a listing of the folks who won, as well as links to the issue itself, where you can read more about those individuals. Learn editorial guidelines for contributing articles at RMMagazine.com/Contribute.

[57:39] Hilary says There are also our Topics pages, if you want any subject-specific coverage. It's a great way to navigate within the website. Natural disaster things don't vary that wildly, year to year, when it comes to preparation best practices.

[57:58] In submitting article pitches, keep in mind that Hilary will ask, "So what?" If you're submitting something, ask yourself that. So what? Why should somebody care to read this?

[58:29] Justin says, Look at her Hurricane Outlook, and the Red Teaming article for good examples of what we're looking for. The Hurricane Outlook is far more in-depth than what we're expecting from the typical outside contributor, but it should give you a good starting point.

[58:46] I'd like to congratulate you on another wonderful quarterly edition of RIMS Risk Management Magazine. I look forward to seeing you at upcoming RIMS events, and thank you so much for joining us.

[59:00] Special thanks again to Morgan O'Rourke and Hilary Tuttle for joining us here on RIMScast again. The Q2 Edition of RIMS Risk Management Magazine is now available on RMMagazine.com.

[59:12] If you want to contribute, check out RMMagazine.com/Contribute for the editorial guidelines. You can reach out to Morgan O'Rourke and Hilary Tuttle. And our Editor, Jennifer Post there, as well.

[59:23] We're certainly going to have them back for our Year in Review episode of RIMScast, but if and when major news happens, or I run out of guests, they just may come back and rejoin us here on RIMScast.

[59:36] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes.

[1:00:04] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact [email protected] for more information.

[1:00:22] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[1:00:40] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[1:00:56] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[1:01:10] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[1:01:22] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available

RIMScast on YouTube!

RIMS-CRO Certificate Program in Advanced Enterprise Risk Management | July – Sept. 2026 Cohort | Led by James Lam | Register Now!

2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now

RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now!

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session!

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Opens in July! | www.rims.org/ERM2026

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS, the Foundation for Risk Management

The Strategic and Enterprise Risk Center

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

RIMScast Canada — Episodes Now Live

RISK PAC | RIMS Advocacy

Upcoming RIMS-CRMP Prep Virtual Workshops:

RIMS-CRMP Exam Prep with PARIMA July 21‒22, 2026

Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars: RIMS.org/Webinars

"Too Hot To Ignore: Heat-Related Injuries and Workers' Compensation" | July 16 | Presented by Zurich

RIMS Student Series: "Classroom to Career Part 1" | Sept 1

RIMS Student Series: "Classroom to Career Part 2" | Sept 9

Related RIMScast Episodes:

"Emerging Risks and AMRAE's RMIS Panorama 2026 with François Beaume"

"Strategy and Change with Ward Ching and Aaron Olson"

"RIMS Risk Manager of the Year Jeff Bray"

"Board Reporting and ERM in 2026 with Trisha Sqrow and Suzanne Christensen"

"Risk Outlook '26 with Morgan O'Rourke and Hilary Tuttle" (Jan 2026)

Sponsored RIMScast Episodes:

"48 Hours From a Storm: What to Do Before A Hurricane Strikes" | Sponsored by Global Risk Consultants, a TÜV SÜD Company (New!)

"AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL

"Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL

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"The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL

"Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich

"Understanding Third-Party Litigation Funding" | Sponsored by Zurich

"What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog

"Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor

"How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog

"Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant

RIMS Publications, Content, and Links:

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About our guest: Morgan O'Rourke | Vice President, RIMS Content & Publications

Hilary Tuttle | Managing Editor, Risk Management Magazine

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Johnell Holly about growing up in Compton, serving in the military, and eventually becoming one of the most senior leaders at FM. They discuss experiences that shaped his mindset and lessons from his early years that still guide his leadership. They discuss what Johnell learned in the military that influences his decision-making. Johnell explains why he left the military and how he started working for FM. Johnell shares his life advice: choose the hard things; they will prepare you for opportunities to improve yourself. Johnell relates his early experience in sales and how it shaped his career. Lastly, they discussed the Spencer Educational Foundation and how Johnell became involved.

Listen for advice on overcoming hard circumstances and showing up at your best.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. Our guest is Johnell R. Holly, the Executive Vice President for U.S. and Latin America Operations at FM. He is also the Board Chair for the Spencer Educational Foundation. We will learn about his career and leadership philosophies. But first…

[:47] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Registration links are in this episode's notes.

[:58] We have a summertime webinar. On July 16th, Zurich will present "Too Hot to Ignore: Heat-Related Injuries and Workers' Compensation." Register at RIMS.org/webinars and via the link in this episode's show notes.

[1:13] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers.

[1:28] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th.

[1:42] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership.

[1:52] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes.

[2:16] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. The deadline for session submissions was extended through June 26th. Visit RIMS.org/ERM2026 to get those final submissions in. Registration will open in July.

[2:37] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today!

[2:56] On with the Show! Our guest today is Johnell Holly. He is the Executive Vice President for U.S. and Latin America Operations at FM. He is also the Board Chair for the Spencer Educational Foundation.

[3:10] Johnell caught my attention last year at the Spencer's Funding Their Future Gala, which this year will be held on September 17th at the Waldorf Astoria in New York City.

[3:21] I found Johnell's career journey to be incredibly inspiring. He is here to discuss his path from humble upbringings to the military to the risk and insurance space and ultimately to philanthropic missions and leadership with Spencer.

[3:36] I'm confident this dialogue will resonate with anyone who feels the odds are against them and is looking for extra motivation to overcome and choose the hard challenges in life and career. Let's get to it!

[3:39] Interview! Johnell Holly, Welcome to RIMScast!

[4:10] Johnell says he is absolutely thrilled for the Spencer Funding Their Futures Gala. It's one of the premier events of the year. Every year, it seems to get better and better, and it continues to achieve new heights. Johnell is excited to see where it goes this year and into the future.

[4:51] Johnell comes from Compton, a rough neighborhood. Johnell wanted something different from how he grew up. He wanted to get a very good education. So he went to the United States Military Academy to get a very good education from a very high-profile institution.

[6:01] Johnell started at the Academy in 1990 and graduated in 1995. In 1995, Johnell went into the Army as a commissioned officer and was in the Army until 2001. His last day of Active Duty was the week prior to 9/11.

[6:47] Justin thanks Johnell for his service.

[7:07] Johnell says there's a lot of what he does today that relates to his military education. He says there's also a lot from his childhood that helped him along his career, including his desire to improve himself.

[7:27] Johnell says some things in the military resonated with him that made it very easy to be more successful outside of the military, such as the work ethic and making the choice to do the harder things when they present themselves.

[7:52] Johnell says, it's like doing the harder military school. Once you get that done, everything else is a bit easier. Johnell says that taking a tough assignment or job within FM, he knows that if he does a job that no one else wants to do, he will have what most people won't have.

[8:11] Johnell says he did things like that deliberately over the years. His mantra would be, Always choose hard, and hopefully, you get to a point where that no longer has to happen.

[6:25] Justin heard a speaker say that if you have six things coming up, one of them is the tough one, and five of them are easy ones, people will choose the five easy ones first, before they get to the tough one. Justin says Johnell chooses the hard one first before the five easy ones.

[8:55] Johnell agrees, not just in his career; he learned it very young. When he was young, he didn't like how he was showing up. He knew he needed to position himself with more strengths.

[9:17] The only way Johnell was going to get those strengths was to do all the things he was afraid to do or hated to do. He had to face fears, get over them, and get through the hard stuff. He teaches his kids that today.

[9:32] Johnell has five kids. The three oldest are girls. The oldest also graduated from Wespoint and is serving. The daughter below her is on a destroyer right now in the Mediterranean, so she's in the war.

[10:02] Johnell has two sons. Both of them are in the top 15 or 20 in the nation for football. One is a redshirt freshman at Michigan, and the other will head out to FSU and Georgia in the next week for his official visits. He'll pick one of them.

[10:31] Johnell talks to his daughters in the service regularly.

[10:42] Justin asks about NIL deals for Johnell's sons. Johnell says the NIL deals are peanuts compared to the insurance negotiations he does daily.

[11:07] When Johnell left the Army, insurance was definitely not on his radar. He was being asked by the military to go back and get his Master's. That meant leaving the state of Washington, where he was assigned. He didn't want to leave; he had things to take care of.

[11:38] Johnell needed to look and see what other options were out there. He went to a headhunter. He interviewed for five or six companies, and all of them made an offer. One of them had a position in Seattle, where he wanted to be.

[12:05] After some negotiation, Johnell decided to give it a go as a consultant engineer, an entry-level position, for FM. He wasn't aware it was an insurance company. He thought he was going into engineering. Coming directly from the military, he wasn't familiar with business.

[12:36] Once Johnell got into FM, he realized that it was an insurance company. Once he saw that, he was very interested in that side of the business and wanted to get over to it very quickly. By 2002, Johnell had moved to the insurance side of FM.

[13:31] Johnell says, early on, risk management and insurance had been thought of as a secondary thought to business. Understanding of the hazards and operating to reduce those hazards didn't exist at the levels that it does today.

[14:11] Today, thinking about risk and ensuring that you are resilient is no longer optional. You cannot just hope that things aren't going to go wrong. You have to assume that things are going to go wrong. Those who do that well will be more successful.

[14:35] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes.

[14:53] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk.

[15:05] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information.

[15:15] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[15:32] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Advance registration is open now.

[15:48] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[16:03] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. The deadline for educational content submissions was extended to Friday, June 26th. Get submissions in now. The link is in this episode's show notes. Registration opens in July.

[16:25] Let's Return to Our Interview with Johnell Holly!

[16:33] At the start of working for FM, Johnell was doing client service and sales. Johnell was a captain when he left the military. He was in a position of authority with a good amount of autonomy. Coming to FM, he was older than his peers, who had come straight out of college.

[17:13] That maturity was pretty key. The best thing Johnell learned in the military is that rank doesn't matter. What matters is how you treat people, not just the people you work with every day, but how you treat every person you interact with.

[17:42] If you can do that well, and recognize that we're all the same, looking for the same stuff, trying to achieve the same things. Johnell says to put it all into perspective and take that approach in how you deal with people. Relationships are king in the military and in life.

[18:27] Johnell really wanted to do well in the job he was in. He says, if you do well, if you put your heart, effort, and everything else into what you're doing, it gets recognized. Folks want that experience and expertise in other areas. That's how you create opportunities for yourself.

[19:17] Johnell has had a lot of different jobs at FM. Probably the most difficult job was sales. Johnell is a very deliberate person. He likes to be strategic and very planned in how he approaches things. He says, in sales, you have to be a lot more fluid, with a lot less structure.

[19:49] Johnell doesn't think it has to be that way. Sales, to be most effective, should have quite a bit of structure, but in the early days, that didn't exist.

[19:57] That was not the best environment for Johnell, but it taught him again how to manage through situations, overcome them, and get better at them. It was much like choosing hard, although that wasn't his intent.

[20:28] It was one of the most developmental roles of his career at FM that put him in a position to be in the roles that he is in now.

[21:25] Justin says it's fascinating to see who succeeds in sales and who goes on to do other things. Johnell says, You've got to be resilient. You've got to be able to take a lot of No and be okay with that. It was all cold calling, lighting them up, and getting in the door.

[22:03] Another Quick Break! Johnell Holly will be at The Spencer Funding Their Future Gala 2026 in New York City at the Waldorf Astoria on September 17th. This year, Spencer will honor Sierra Signorelli of Zurich and last week's guest, Marya Propis of RT Specialty.

[22:31] A link to the Gala is in this episode's show notes.

[22:34] The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September.

[22:52] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th.

[23:04] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information.

[23:12] Let's Conclude Our Interview with Spencer Board Chair Johnell Holly!

[23:30] Johnell says selling remains difficult. FM is not a sales-focused organization. FM needs sales; it's critically important, but FM is about client retention and building client relationships.

[24:17] Before a salesman for FM can sell a policy to a company, the salesperson needs to get internal sign-off for various reasons that the company is a good fit for FM. Johnell says there's more structure in FM sales policy today. More training is done for successful selling.

[25:39] Johnell says that from the first day he started with FM, RIMS was a part of the conversation. Johnell's participation was in attending some of the local RIMS events when he was on the West Coast. Johnell started in Washington and then went down to LA.

[26:10] Johnell had attended Western Regional RIMS and Los Angeles RIMS events. Johnell says that he had been with FM for almost 15 years before he really became aware of Spencer. Today, Spencer is out there much more, creating education and awareness for the industry.

[26:59] Johnell says that for Spencer to create awareness for students, everyone in the industry needs to know about it. Spencer is at a point where it is recognized as a foundation throughout the insurance industry.

[27:18] Johnell says that Spencer needs to be recognized even outside of the insurance industry, as much as possible, and he thinks it is on its way. It's been a buildup of all the efforts and work, back to Robert S. Spencer himself, that have led to where Spencer is today, and it will continue.

[28:03] Johnell says his involvement with Spencer came when Brian Callori, who was one of the Chairs and who also worked for FM, thought that it would be a good fit and a great opportunity for Johnell to be a part of it. He suggested that Johnell be recommended to join the Board.

[28:31] Johnell joined the Spencer Educational Foundation Board. Within the first couple of meetings, Johnell realized that they could do things better, and he started speaking up about it. He only wanted to help the organization do its best. They asked him to do as he suggested.

[28:57] Johnell joined the Executive Committee and continued in various positions until he is now the Chair. Justin notes Johnell's enthusiasm about the Spencer Educational Foundation, evident in his Gala address last year.

[29:09] Johnell plans to be on stage again at the 2026 Gala.

[29:38] Justin asks about last episode's RIMScast guest, Marya Probis, who is no longer on the Board and is one of this year's Spencer honorees.

[29:53] Johnell says the interesting thing about the Board is that they are all competitors for the most part. The minute they get into that room, they come together and focus on the mission of Spencer. Johnell sees that they have a sincere desire to help the industry advance.

[30:31] Johnell says we need to educate folks in the middle schools and primary schools and so on to get folks thinking about working in insurance. Insurance is an amazing industry and career, and it's necessary. It's inspiring to be able to talk about and drive it throughout the world.

[31:42] Johnell says the world has always been changing. The one constant is change. The more that all of us, including kids, can embrace that reality, the better prepared we will be. The insurance industry always follows the world. The world is always looking for the next best thing.

[32:42] Someone is out there innovating, inventing, and trying to come up with the new thing. The new thing is going to come with risk. Johnell says our capability and responsibility to be able to protect that risk or associated risks is what we do. It's why we're here. That's exciting.

[33:11] Justin says, We're looking forward to seeing you on Thursday, September 17th, at the Waldorf Astoria, for the 2026 Funding Their Future Gala. We've got Sierra Signorelli from Zurich as one of the honorees; Marya Propis is the second honoree, and it's going to be a great time.

[33:28] I look forward to seeing you up onstage. Last year, your message resonated with me so much. You came from a very humble upbringing, and you have this wild trajectory professionally, and you've got five kids, so you've had quite a journey.

[33:55] Justin asks Johnell to imagine an audience member hearing this episode of RIMScast, and they might similarly come from a difficult background and just not know what their path forward is going to be. What message would you have for that person today?

[34:15] It's the same message Johnell has for a lot of the folks he interacts with from a similar background. His family still lives in Compton, so he still interacts with kids and with college athletes who did not have the greatest upbringing.

[34:38] Johnell says it's wrong to think you are not a product of your environment. You are. Depending on what that environment has in store for you, you either want to be there or you don't want to be there. One thing you can control to some extent is whether or not you're there.

[35:10] Change your environment. If you can't change your environment, change the way you show up in your environment. Do the things that are going to give you more experiences. Do the things, the hard things, that are going to create more opportunities for you down the road.

[35:30] You don't have to do something earth-shattering. It could be the little things that start to build your toolbox. So that when the time comes and the opportunity presents itself, you have all of these things you have built that will uniquely position you to take advantage of that situation.

[35:58] You need to put yourself in a position so that when the time comes, you're ready to go. That often means to "choose hard." If you're willing to choose hard, then you are going to differentiate yourself. There's no way in the world that it doesn't pay off at some point. It will.

[36:20] Justin says These are wonderful words of wisdom. They resonate with me, and I'm positive they're going to resonate with the audience. You're an inspiring guy. I look forward to hearing more from you and to seeing you in September. Thank you so much for your time.

[36:45] Special thanks again to Johnell Holly of FM and the Spencer Board Chair. We look forward to seeing him at the Spencer Educational Foundation's 2026 Funding Their Future Gala, which will be held on September 17th at the Waldorf Astoria in NYC.

[37:02] Visit SpencerEd.org for more information and to purchase your ticket and for sponsorship opportunities. Remember to check out last week's episode, RIMScast #395, to hear an interview with Marya Propis, one of this year's Spencer Funding Their Future Gala honorees.

[37:20] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes.

[37:49] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact [email protected] for more information.

[36:07] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[38:25] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[38:41] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[38:55] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[39:07] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

RIMScast on YouTube!

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam | Register Now!

2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now

RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now!

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session!

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Session submissions deadline extended to June 26! | www.rims.org/ERM2026

RIMS Risk Management magazine | Contribute

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS, the Foundation for Risk Management

The Strategic and Enterprise Risk Center

RIMS Diversity Equity Inclusion Council

RIMS-CRMP Stories

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About our guest: Johnell R. Holly, Executive Vice President, United States and Latin America Operations, FM

Board Chair, Spencer Educational Foundation

Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Marya Propis about her career in retail brokerage, wholesale distribution, and executive leadership. Marya speaks of leaders who influenced her, how her leadership skills have changed in 30 years, and how emotional intelligence guides her as she helps young insurance professionals at RT Specialty. She also shares the importance of physical fitness and self-care in showing up at her best each day. Marya discusses the wholesale Excess and Surplus Lines marketplace in the U.S. She talks about her involvement in industry associations and the enthusiasm she has for helping students and new risk professionals. She shares information about the Spencer Educational Foundation's Funding Their Future 2026 Gala, where she will be one of two honorees. She serves as a Director of Distinction, acting as an ambassador for the Spencer Educational Foundation.

Listen for Marya's enthusiastic approach to persuasive leadership.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. We will be rejoined by our friend Marya Propis, President of Retail Distribution at RT Specialty and honoree at this year's Spencer's Funding Their Future Gala in New York City on September 17th. There is a lot to catch up on. But first…

[:47] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Links to registration are in this episode's notes.

[:58] We have a summertime webinar. On July 16th, Zurich will present "Too Hot to Ignore: Heat-Related Injuries and Workers' Compensation." Register at RIMS.org/webinars and via the link in this episode's show notes.

[1:13] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes.

[1:34] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. We want to hear from you. Submit a session proposal by June 19th to reach engaged practitioners, innovators, and leaders looking for guidance they can utilize right away.

[1:52] Help define what's next for Enterprise Risk Management. Submit a session proposal by Friday, June 19th. Visit RIMS.org/ERM2026.

[2:02] Folks, through the generosity of its industry partners, RIMS has launched The Foundation for Risk Management™, which provides scholarships for early-career professionals to attend RIMS events like RIMS Texas Regional Conference, RIMS Canada Conference, and RISKWORLD.

[2:21] The Foundation also helps beneficiaries earn their RIMS-CRMP and fund research projects. To learn more or contribute to the Foundation, visit RIMS.org/FRM and visit the link in this episode's show notes.

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[2:56] On with the Show! Marya Propis is rejoining us on RIMScast. She is the President of Retail Distribution at RT Specialty, and she will be honored this year at the Spencer Funding their Future Gala at the Waldorf Astoria in New York City on September 17th.

[3:17] We'll learn about Marya's career, her risk management philosophy, how her physical wellness fuels her progress as a risk and insurance professional, and why she feels it is critical to continue her support for women in the profession. We're going to have fun. Let's get to it!

[3:39] Interview! Marya Propis, Welcome Back to RIMScast!

[3:49] Since the last time Justin and Marya spoke, Marya has joined RT Specialty. She is coming up on her 6th anniversary with RT Specialty. It has been the most enjoyable and successful career chapter she has been fortunate to enjoy.

[4:04] Marya says there are so many great things to talk about in terms of what's going on in the marketplace and at RT Specialty and how that pertains to Spencer.

[4:20] Marya is President of Retail Distribution. She was promoted to that role several months ago. A dedicated group under her leadership is keeping a finger on the pulse of what's going on in the ultra-dynamic U.S. retail landscape.

[4:47] They are always thinking of ways to be more client-centric, partner more fully with their retail clients, and think of all the places that their clients need RT to be as the top wholesale partner in the U.S.

[5:08] Marya has six people on her team for a wholesaler that placed $32 billion of premium last year. But, actually, her team is the entirety of all the brokers and underwriters that work for RT Specialty. That's 1,500 people.

[5:28] Marya's job is to make the brokers and underwriters who work for the team more successful every day. Her stakeholders are the market-facing, talented brokers and underwriters. They are her team.

[5:46] Marya sets best practices and standards around compensation, conferences, and the way they engage. Client-centricity is very important, so Marya extends direction for it.

[6:00] Marya explains how leadership style has evolved. In the first half of her career, it was all about command and control, from the top down. Telling everyone what to do has evolved positively.

[6:19] Marya prides herself on having very good influence and leadership skills. She says people want to follow her direction. She had to learn a lot to go from telling people what to do to creating a path people want to follow. Being a command-and-control leader doesn't feel good.

[7:00] Marya says that when we started talking about emotional intelligence as an important part of leadership, she realized she had it. She just hadn't been using it in any of her management or leadership roles.

[7:11] It became more acceptable to use emotional intelligence to get your team aligned and get people thinking around the direction you need to go as a team or a firm. That's been very positive for Marya, but she couldn't flip that switch overnight.

[7:30] Marya had to learn a lot to change her leadership style so people want to follow and feel that she is creating the right direction, so they can be more successful, not leading them down a path to doom and demise.

[7:52] Marya says that an emphasis on emotional intelligence came hand in hand with the industry starting to pay attention to women in insurance and the lack of representation of female leadership in insurance.

[8:09] Marya says that a decade ago the insurance industry started to be deliberate about realizing they didn't have many women in leadership and that there were obstacles in the industry to women being promoted and compensated at the same rate as their male colleagues.

[8:31] Emotional intelligence came along with the recognition that women have a distinct and unique skill set. Emotional intelligence is a prevalent part of a woman's skill set. Women bring real value as leaders. The traits that come with that include emotional intelligence.

[9:07] Justin says we have such a great group of rising risk professionals, particularly females, in the profession and the RIMScast listenership, so this is a great way to kick off this dialog.

[9:25] Marya says she has worked for a lot of great leaders. She was fortunate to work closely with many executives. You can watch a leader and learn a technique or a trait that you can add to the skill set you already have. Marya says she gets her best material from others.

[10:14] Marya says Pat Ryan, who founded RT Specialty, is the absolute Superman of insurance. Any time she hears Pat Ryan talk, she leaves with a gem that she commits to do or think about, going forward. He uses an expression: "Do the right thing, because it's the right thing to do."

[10:47] If you use that as a guiding principle for how you set your priorities and make decisions, based on what your retail clients need, then it's very obvious what you need to do. It has become a guiding principle for her in the way she makes decisions every day.

[11:47] Marya says her scope of responsibility is just retail clients. Her colleague Leah Ohodnicki oversees carrier management. They talk all the time. There are so many of the same principles that they apply, just to different channels in the marketplace.

[12:07] Marya has been a career salesperson. For her whole insurance career, she has sold stuff. She has sold capabilities and products. She sells and represents wholesale brokerage services.

[12:27] Marya says no client is like another. You must see every client with fresh, objective eyes. Every client has something unique, or a competitive advantage, or something special about the way they've built their firm. Sometimes you have to look carefully to find it, but it's always there.

[13:06] You have to be willing to put yourself in their shoes. How do they see the world? How is that retailer creating visibility and driving success?

[13:26] Marya prides herself on being a student of who the retail client is and thinking about how to better frame partnership strategies to work with them as effectively as possible, rather than thinking about herself, RT Specialty, and all the stuff she can throw at any retail client.

[13:48] In Marya's mind, the way to do it is to start by asking what they need. Where is the place that they will need RT Specialty to be more successful? Then she constructs an engagement approach around that. That's different from how she thought about it 20 years ago.

[14:15] In any industry, Marya doesn't want to be a vendor. She wants to be a partner. There's a big difference in the way you have to think to be a trusted business partner. That's a very important part of Marya's personal and professional philosophy in creating partnerships.

[15:13] Marya says she's very committed to the digital distribution model. It's been one of the more exciting and dynamic components of the retail channel. Marya doesn't use AI interchangeably with digital distribution. Digital distribution is where we sell things online.

[15:41] Marya says AI is a technology enabler that helps us be more efficient in sales. RT Specialty has an online portal called RT Connector that has been trading E&S Specialty, Micro and Small Commercial P&C products for eight years on the digital distribution platform.

[16:09] Marya says there's a newish type of retail agent in the U.S. marketplace called digital agencies. They want to trade as efficiently as possible. They want API connectivity. They're focused on a specific segment and industry, in terms of where they feel they can sell and trade.

[16:31] Marya says even the way they acquire leads is very different than a traditional retail model. Marya says we're certainly not going to sell RT the same way to a digital agency as we do to a big Alpha house. They're very different.

[16:51] Understand the model. Understand how that retail agent or broker is structured, and meet them where they are. With digital retail agents, it's a completely different type of retail partnership that they can build with them vs. other models they've worked successfully with.

[17:18] Marya says our retail clients are always evolving and changing and buying lots of stuff, in mergers and acquisitions. They restructure. How they choose to go to market. How they're winning business. Marya loves all the learning that comes as the market and her clients evolve.

[17:45] Marya says they're a wholesaler. Their digital platform will reflect the appetite and eligibility of the technology-enabled carriers that are represented on the RT Specialty platform as trading partners.

[18:10] Marya says they have 130 talented binding authority teams across their U.S. platform. They know what their appetite is; they have the binding authority. That's human interaction.

[18:28] Marya says RT Specialty mimics that same process with some of the same carrier partners by putting their product-specific appetite on their digital platform.

[18:38] The same agent can either go to the RT binding authority underwriter or go through RT Connector. If it fits the appetite of the products on RT Connector, in five minutes, the agent can rate quote, bind, issue, e-deliver policies, surplus lines taxes, and finance premium.

[19:02] Marya says she can ask agents how they want to trade the E&S specialty marketplace. There are a lot of paths they can follow that get them to the same place where they win. RT Specialty can put the right resources around that.

[19:35] Marya says if a retail client brings a franchise opportunity to RT Specialty, if it's a franchise operation that's insured, RT Specialty will write it. They write lots of them in the U.S. Marya participates in risks her retail clients bring to RT.

[19:52] Marya doesn't sell directly to franchises, but RT has a lot of franchises and programs in chains in their book of business. RT has the largest sports and entertainment practice in the wholesale segment in the U.S. It's a tough segment of the marketplace.

[20:20] RT Specialty has invested a lot in terms of talent. RT Specialty owns the largest MGU in the marketplace. The sports are professional, amateur, and everything in between. It's a very successful market segment for RT Specialty.

[20:41] Marya explains that an MGU is a Managing General Underwriter, which is different from an MGA (a Managing General Agency), which is different from a Program. Marya says this has been one of the fastest-growing segments of the specialty market in the United States.

[21:09] Marya says you create a homogeneous appetite for a certain bulk of business, find a carrier partner, set up a Program, and open your storefront and either distribute through retailers or wholesalers. Some are direct-to-insureds

[21:30] Managing General Underwriter means that we would create the appetite and the guidelines. Managing General Agent means that the carrier has already defined that, and they're allowing us to put a storefront in front of that.

[21:54] That's different from some of the traditional carriers that RT Specialty works with, like Lexington Insurance Company or Westchester Insurance Company. Those are carriers. That is a different solution than when RT Specialty approaches an MGU on behalf of their retail client.

[22:18] Marya says anytime you have a lot of people in one place at an event, there are lots of risks associated with that: gun violence, political violence, and means of evacuation response. We have seen that time and again.

[22:43] When you have a lot of people congregating for a sporting event, a demonstration, a commemoration, or other event, it's gotten much riskier when you put a lot of humans in one place. That has made that segment of the marketplace much more challenging than ever.

[23:10] Marya mentions boxing matches in Vegas or the number of active shooter incidents in Vegas. Marya believes the Excess and Surplus Lines market segment is the permanent home for high-hazard risks in the U.S. It's not an escape valve.

[23:42] Marya says that in her lifetime, those types of risks will never swing back to the direct admitted standard carrier side. As a wholesale broker, RT Specialty is looking to partner with carriers that have the right type of appetite to support those risks.

[23:59] RT Specialty builds products, so they own MGUs, MGAs, and Programs. They invest and build products when segments of the marketplace become very tough, so they have solutions available through their brokers and underwriters to write any risk in any class of business.

[24:19] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes.

[24:37] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk.

[24:48] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information.

[24:59] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information.

[25:16] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. Earlybird registration is open now.

[25:31] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni.

[25:45] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. The deadline for educational content submissions is Friday, June 19th. Get submissions in now. The link is in this episode's show notes. Registration opens in July.

[26:08] Let's Return to Our Interview with Marya Propis!

[26:32] Justin asks about Marya incorporating workouts into her life so she can perform better as a risk and insurance professional. Justin also feels that he has missed out if he has not exercised or worked out for a certain time each week.

[27:03] Mary has 35 years in the business. She travels every week. She flies a lot. She is very focused on her wellness routine. She has been an athlete her whole life, so working out is important to her. So is self-care.

[27:34] Having gone through menopause and figuring out what was going sideways, physically and mentally, Marya feels good about where she is today, in her commitment to herself, supplements she takes, and understanding healthy brain function and the effects of hormones.

[28:09] Marya says we know hormones have a significant impact on our ability to function, both for men and women. Marya says her lifestyle is not perfect. She eats at restaurants 80% of the time, and entertaining clients involves alcohol.

[28:40] Marya loves the relationship-building, social, and personal connection side of the business. She's not going to skip drinks or dinner with anyone. But it's a place where there can be a lot of pitfalls. She doesn't subscribe to an austerity lifestyle. But she has to pick her spots, now.

[29:10] Marya says she can't be dragging on Thursday morning. She still has two big days ahead of her to deliver. Marya talks about sleep quality, not just how much you get, which gets tough when you're sleeping in different hotel rooms.

[29:35] Marya says, This is the way it is with the career I have chosen, and I love. She has to be much more deliberate and mindful and remind herself that in June, she is traveling 18 days. On the days she's not traveling, she knows what to do for working out and for her wellness routine.

[30:24] Marya says she is open and willing to learn. She is open to trying and learning new things. She believes in supplements and vitamins. She takes different ones now than she would have taken a decade ago. You have to be a student of that, like everything else in life.

[30:43] Marya says The second you start to lose the desire to learn, what's next? It's not really fun when people's mindsets change.

[30:54] Marya has been a Yoga practitioner for 30 years. She does Power Vinyasa in an infrared studio. Marya says the benefits of infrared are scientifically not debatable. She says infrared is great for joints, skin, and healthy brain functioning. It amped up her Yoga routine.

[31:15] Marya does TRX bodyweight exercises. Most of the hotel gyms today have a TRX setup. She loves that, since she spends a lot of time in hotels and hotel gyms. Marya does circuit training. She works with heavy weights three times a week to maintain skeletal strength.

[31:53] Marya says it sounds like a lot. As an athlete, when you have to perform and deliver, it's part of the way you have to think. It's how Marya thinks. She has to show up and be her best self when she's representing RT Specialty in the marketplace.

[32:14] Marya has a lot of people relying on her to be crisp and present with a great level of energy. You can't do that if you're dragging all the time.

[32:40] Marya grew up in Buffalo, New York, so she's a skier. It was the first sport for her family. She played tennis in high school and college. She ran track as a sprinter. Her favorite sport is Yoga. A couple of genres of Yoga have world competitions. Mary likes vigorous, athletic Yoga.

[33:34] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September.

[34:05] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th.

[34:16] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information.

[34:24] Let's Conclude Our Interview with One of the Two Honorees of the Spencer Educational Foundation's Funding Their Future Gala 2026, Marya Propis!

[34:48] Justin asks about associations Marya is plugged into that support empowering women in the risk and insurance industry, such as APIW and WISE.

[35:01] Marya represents RT Specialty on two boards. One is CIAB (The Council of Insurance Agents and Brokers), an international organization known for its regulatory and lobbying efforts.

[35:25] Marya spent a week in London last month with CIAB. There is so much going on in the London marketplace. That has been a lot of fun and a place to continue to learn.

[34:47] The second board is WSIA (Wholesale & Specialty Insurance Association), representing the wholesale specialty segment. There are specialty markets around the world, but the E&S lines market segment only exists in the United States. WSIA is a wonderful organization.

[36:14] Marya says that what's great about both CIAB and WSIA is what they do to support young and developing insurance and risk management professionals. It's consistent with and complementary to the work, scope, and mission of the Spencer Educational Foundation.

[36:32] Marya loves the way all of that comes together. Marya has been in the space developing, recruiting, and supporting emerging leaders and talent in the insurance and risk management marketplace for a long time. It's a space she loves to be in.

[35:56] It all comes together nicely with Marya's board service and her commitments to foundations and causes.

[37:10] Justin says the Spencer Funding Their Future Gala will be on Thursday, September 17th, at the world-famous Waldorf Astoria. Marya is one of the two honorees this year. Justin asks what this honor means to Marya.

[37:35] Marya can't remember a time when she looked forward to something so much. First, she was surprised, and she feels really humbled. Marya had been a Spencer Board member and Chair of the Board, thinking about whom they would honor, every year for a decade.

[38:05] It's really humbling to be considered, let alone this year, going back to the Waldorf Astoria. Marya remembers the Spencer Gala there, at which she spoke as Chair of the Fundraising Committee.

[38:22] Marya just about passed out before going on stage, as she had never talked before so many people. She was hyperventilating. She didn't fall off the stage. She enjoyed herself a little bit. The Waldorf Astoria is one of the most storied hotels in the history of New York City.

[39:06] Marya says Sierra Signorelli is the other honoree for the Gala. Sierra and Marya worked together early in their careers at AIG. They got a significant start to their careers then. They've known each other for a long time. Marya praises Sierra and is so happy to be doing this with her.

[39:32] Justin notes that Sierra is the Zurich U.S. CEO and the Zurich Commercial Insurance CEO. Those are not easy titles to achieve. Zurich is a global insurance carrier. Marya admires Sierra's career trajectory and the leadership influence she has had on so many.

[39:51] This is the first time there have been two female honorees in the history of the Spencer Gala. Marya says sharing that honor with Sierra, someone she knows, trusts, and respects so highly, makes it even more special and a night to look forward to. She can't wait!

[40:17] Marya is now a Director of Distinction on the Spencer Board. Her RT Specialty colleague, Michael VanAcker, is on the Spencer Board today. Marya mentions that Pat Ryan was honored by Spencer at one of the first Galas. Tim Turner, RT Specialty CEO, introduced Pat that year.

[40:53] RT Specialty has had a seat on the Spencer Board for years. Marya is a Director of Distinction as she is a former Board Chair. They ask her to be an advocate where Megan Miller needs her, and to be conversant on where Spencer continues to support and drive results.

[41:18] Marya stays in touch and makes sure she knows what is going on with the programs and schools they are partnering with. Her role is to be informed, be an ambassador, and jump in at any place that Megan and the Spencer team would need her to influence, help, and support.

[41:41] Marya spoke at the E&S Insurer conference. At the end of the conference, she brought Megan Miller in and introduced her to the writers' folks and asked if they could get a five-minute spotlight on Spencer next year. That is an example of where Marya can try to help.

[42:15] Marya says Spencer scholars are so excited about their insurance career. There is nothing more infectious than their enthusiasm for the career path they have chosen. To talk to a young person who has their whole life in front of them is super energizing for Marya.

[42:57] Marya says that when a young person wants to talk to her and spend time with her, she thinks it is great. Enthusiasm is infectious.

[43:05] At the end of the day, Marya wants to leave the insurance industry in a much better place than it was when she came into the business. Spending time with young people who will be the leaders of our industry in the future, there's no better feeling.

[43:30] Marya says that anything she can do to have influence, set an example, or help them think through something helps her to continue to feel wildly enthusiastic about her career. She loves when she gets to spend time with the young brokers and underwriters at RT Specialty.

[43:52] Justin says that the scholarship recipients he has seen on stage at the Gala have been so impressive. They're in school, and they're so involved. They're a shining example of what we want the future of this profession to be.

[44:10] Marya says that there was no way, when she was 22 years old, that she could have gotten up in front of a room of 800 people in her profession and spoken like that. She would never have been able to do that. Their ability to get up in front of that audience and talk is huge!

[44:37] Marya is impressed by what they talk about, in terms of their careers, and what they've learned.

[44:42] Marya is delighted that Spencer has basically kept the Gala format consistent. The focus is on the students and the benefits that Spencer funding drives for the industry.

[44:56] It's a place where you can see real impact on real lives because of the fundraising dollars that the risk management and insurance industry has stepped up and invested. That's the focus. Then they have dinner. There are two honorees, and they wrap it up.

[45:12] Marya loves that they have never complicated the program for Gala. It has kept the focus in the right place, which is what they are doing to fund the future leaders of the insurance and risk management industry. She's excited to meet the Spencer scholars who will speak at the Gala.

[45:35] Marya says that lots of times the speakers bring their families. She says her Mom and Dad will be there. That will round out what's going to be a terrific and exciting evening.

[45:47] Jason says, We look forward to seeing you there on September 17th at the Waldorf Astoria in New York City. Marya will be there with her old friend Sierra Signorelli. It's going to be a fantastic, tremendous time! The link to the Funding Their Future Gala is in this episode's notes.

[46:08] Marya, we're very happy for you. Congratulations again! I can't wait to see you again in September. Marya looks forward to seeing Justin again and the team from RIMS, another long-standing, awesome, successful partnership between Spencer and RIMS.

[46:27] Special thanks again to Marya Propis for rejoining us here on RIMScast! We congratulate her again in advance of her receiving the honor at the Spencer Educational Foundation's 2026 Funding Their Future Gala, which will be held on September 17th at the Waldorf Astoria in NYC.

[46:47] Visit SpencerEd.org for more information and to purchase your ticket and for sponsorship opportunities. Join us next week, as we will be joined by Spencer Board Chair Johnell Holley. We will learn all about his career journey and risk philosophies.

[47:03] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes.

[47:32] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact [email protected] for more information.

[47:50] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information.

[48:08] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[48:24] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[48:37] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at [email protected].

[48:49] Practice good risk management, stay safe, and thank you again for your continued support!

Links:

Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026

RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Session Submission Deadline: Friday, June 19

RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available

RIMScast on YouTube!

Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines.

RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam | Register Now!

2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now

RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now!

ChicagoLand Risk Forum | Sept. 24, 2026

RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session!

RIMS Risk Management Magazine | Contribute | Look for the Awards Edition in "Digital Issues"!

RIMS Now

RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan!

RIMS, the Foundation for Risk Management

The Strategic and Enterprise Risk Center

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RIMScast Canada — Episodes Now Live

RISK PAC | RIMS Advocacy

Upcoming RIMS-CRMP Prep Virtual Workshops:

RIMS-CRMP Exam Prep with PARIMA | July 21‒22, 2026 Full RIMS-CRMP Prep Course Schedule

See the full calendar of RIMS Virtual Workshops

Upcoming RIMS Webinars:

RIMS.org/Webinars

"Too Hot To Ignore: Heat-Related Injuries and Workers' Compensation" | July 16 | Presented by Zurich

Related RIMScast Episodes:

"Spencer Day 2026 | The Future of Strategic Risk Management"

"Risk Management Momentum with Tim Ryan" (2025 Spencer Honoree)

"The Strengths of DE&I Initiatives with Lilian Vanvieldt-Gray of Alliant Insurance Services" (2024 Spencer Honoree)

"RIMS Honor Roll Inductee Emily Buckley"

"RIMS Rising Risk Professional Award Winner Tyler Vaughan"

Sponsored RIMScast Episodes:

"48 Hours From a Storm: What to Do Before A Hurricane Strikes" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL

"Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL

"The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant

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"The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL

"Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company

"Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich

"Understanding Third-Party Litigation Funding" | Sponsored by Zurich

"What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog

"Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor

"How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog

"Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant

RIMS Publications, Content, and Links:

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About our guest: Marya J. Propis, RT Specialty, President, Retail Distribution

Production and engineering provided by Podfly.