How much do risk managers and risk management departments invest time and energy marketing themselves to their internal customers? Rarely do risk managers think about this; and that can be a costly mistake.

Shying from the Limelight

Why do risk managers neglect the marketing parts of their jobs? Likely, many reasons are at play. Sheer modesty and aversion to bragging deter some. Risk managers may assume that it is not their role to spotlight accomplishments. They avoid standing out, as it often evokes a human tendency to want to cut others down to size. (Recall the Japanese proverb, “The nail that sticks up gets hammered down.”)

Risk managers may think, “If I'm doing a good job, my boss will know it and I won't need to publicize it.” Many risk managers look askance at marketing, having had little or no training in it. Furthermore, many are so busy that they lack time for what they see as self promotion. For whatever reason, risk managers often fail to protect or project their own personal brand as Risk Management Excellence.

Many CEOs and other upper management executives may see risk management departments as mere cost centers. Risk managers are staff, not line, employees. Typically, they do not make or deliver the goods or services that are the organization's reason for existence. They serve the folks who make or deliver those goods and services.

Other executives may not understand that, without risk management, the business would come to a screeching halt. They may have no concept of the amount of work that a risk manager puts into protecting the company from hidden and costly dangers. Nor do they understand how much effort is required to insure that the company is compliant in the Sarbanes-Oxley era. The tree is falling in the woods but no one is hearing it.

Corporate Cops?

In fact, many companies may view the risk management department as a corporate police force, only needed when the company gets into trouble. “Uh-oh, here comes the risk management cop, that perpetual naysayer, to tell us what we can't do!” That is a prevalent and unfortunate stereotype.

Do not blame CEOs for these misconceptions, however. In general, risk managers and risk management departments have done lousy jobs of touting their successes to internal customers. This must change. The first step in the process is to develop a strategic marketing plan for the risk management function.

Begin by identifying unique value propositions. Admittedly, this is a business buzzword, but everything that the risk management department does, from addressing employment practice issues to identifying long-term liabilities, protects the company in some way. Risk managers must highlight and quantify these accomplishments to upper management. Value propositions may be financial, such as saving money, protecting assets, or facilitating a merger or acquisition. They may be in the realm of intellectual and human capital.

Encourage communication. Peoples' eyes may glaze over from yet another Power Point presentation, but most people love hearing stories. Most risk managers have dozens of examples of how their involvement either saved the company dollars or helped generate revenue. It is the risk manager's job to ensure that the department gets credit for those successes, particularly in disasters averted.

Create a capability brochure. Most risk managers are not natural salespeople. They do not feel comfortable meeting with the company's leadership to showcase accomplishments. A solution to this uneasiness is to distribute an internal newsletter or brochure. This can be a guide to the risk management function which provides contact information for all of the staff professionals, as well as areas of expertise. It also may list the appropriate contact for any given safety, insurance, or risk management matter.

Additionally, the brochure can identify the projects and significant matters that the risk manager or risk management department is working on for the coming year. Start small. Do one annually, then twice a year, and then quarterly. If you get ambitious, you can do one monthly. Contribute material to the corporate web site or Intranet that shows the stewardship aspects of risk management.

Find internal champions. Every risk management department has worked successfully with at least one business leader in the company. This might be a plant supervisor, a safety manager, or the director of human resources. Most of these leaders are willing to explain to other senior executives how the risk manager or risk management department helped them on projects.

Regularly track accomplishments. Create a computer or hard-copy file labeled Accomplishments. Keep a running list of job initiatives and kudos that you have earned. On an electronic diary or paper calendar, insert a monthly reminder setting aside a certain day of each month for stepping back and reflecting on what has been accomplished over the preceding 30 days. In the crush of day-to-day activities, these accomplishments can easily slip from consciousness. Make a concerted and disciplined effort to record kudos.

Accomplishments to note in the file might include reducing property insurance costs by 5 percent, negotiating broader coverage on directors and officers liability, and working with the human resource manager to improve an employee assistance program. Do not neglect such professional achievements as being elected vice president of the local RIMS chapter or completing and passing an ARM examination.

As your annual performance appraisal date approaches, make the list as comprehensive as possible, with substantive accomplishments and initiatives that you have achieved over the preceding year. Classify these under broad headings such as Expense Management, Vendor Management, Insurance Coverage Management, Safety Initiatives, and Professional Development.

Thirty days before your annual performance appraisal, share the list with your boss, explaining that this is part of your self-appraisal program and that it might assist in composing the annual performance appraisal. (Most bosses absolutely detest the appraisal exercise and anything that you do to make the job easier for them may be appreciated.) Such a running list also does not hurt when asking for raises or promotions.

Document Accomplishments

Keeping a running list is a good discipline for another reason. A monthly accomplishment list becomes a useful frame of reference in the event of a job change. Invariably, in interviewing for new opportunities, questions will arise about various projects and initiatives undertaken, both successes and failures. Keeping a running inventory of initiatives and accomplishments refreshes the memory and aids in preparation for the job and career transitions that seem inevitable nowadays.

Do not see this as bragging or self promotion. Think of it as building a record for what you have accomplished in your job. Ideally, these bullet points should be above and beyond the normal day-to-day activities. They should spotlight accomplishments, not just efforts.

Excuse me. I thought I just heard a crash. Was it a tree falling in the woods or someone's risk management career hitting the skids? Develop a flair for marketing risk management accomplishments to ensure that it will not be your job or career coming to an abrupt stop.

Kevin Quinley CPCU, AIC, ARM, is senior vice president of Medmarc Insurance Group in Chantilly, Va. He can be reached at [email protected].