Ruben Nieto, Director of DA-Solutio
If we expect to offer a solution to our customers so that they are as calm as possible, care must be taken to keep abreast of the latest developments in the fields related to their business sectors.
Long before the Internet became widespread, a relative told me in his engineering consulting what we heard in many ways: “you don’t need to know everything, you have to know what is needed and where to find it.” Now there are many channels to obtain information and it is required to go further. We should take an interest in improving our knowledge, provide new ways of doing things and have contact with professionals and companies who are experts in a particular field that escapes our capabilities. In this way, we will be prepared to determine well what the customer needs and propose actions.
From my point of view, it is very important to be aware that risk management is a multidisciplinary concept. Depending on the project in question, it may be sufficient a person to analyze well the risk (for example, the owner himself in a small shop) while in other business models will predominate the importance of minimizing the problems arising from property damage (with the intervention of engineers, technicians, maintainers …) in other financial issues will be those that can ruin a good business approach (the help of economists and financiers would be necessary), some are legal and legal issues, there may be political and social risks, etc.
Typically, the project for which you request our help have a compendium of problems to solve in the abovementioned areas and any more that may arise.
Therefore, I invite entrepreneurs requiring vision that a risk manager can give them in the initial process of setting ideas, market exploration… to create the viability plan. In the early stages of a business, it is normal costing much less prevent the same problem to overcome.
The operating companies are increasingly aware of the importance of having well-bounded their dangers in order to continue working. First of all, I recommend the employer to give due attention to opinion of his own risk department (or create it if does not exist) giving it the necessary resources. It is not worth the view of the better risk manager if the administrator has not internalized that it should have its own staff to analyze the day to day business evolution. If this concept is assumed, then it will be a very profitable investment for the employer to go to a risk manager not only in cases where he wishes to tackle new challenges or in case of occurrence of a loss but also to minimize his expenses, position in the market, improve its image, find new business opportunities … In short, for any operation aimed at achieving success, increase profits and resume the activity as soon as possible in case of event.
I leave for another time talking about the importance of insurance companies and insurance intermediaries in different occasions when it has been determined that it is preferable to transfer the risk. I advance now that an insurance policy that does not conform to the reality of risk can compromise unnecessarily (but dramatically) the continuity of a business project.
Contributions of a Risk Manager by Ruben Nieto Seijas is licensed under a Creative Commons Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional License.