Understanding Risk Management with Ted Bilich : Successful Nonprofits

Episode 68

Understanding Risk Management with Ted Bilich

Listen on  iTunes    Android     Stitcher    Libsyn

Episode 68

Understanding Risk Management with Ted Bilich

Listen on  iTunes    Android     Stitcher    Libsyn

by goldenburggroup

When practicing risk management, your Board should be nose in but
hands off.

To some, risk may not seem important until you receive a demand letter from your lawyer or a media inquiry about an alleged malicious act.

Risk is everywhere in the nonprofit sector, and nonprofit organizations need eliminate messy and unmanaged risks. To help us better understand risk management, we discuss the issue with Ted Bilich, CEO of Risk Alternatives LLC and expert in board governance, civic engagement, and ethics. Ted defines risk, explains risk assessments, shares ideas on managing risk, and offers three freemiums for organizations to better assess risk management.

*****Timestamped Highlights*****

(3:35) Ted defines Risk Management
(5:55) Managing the risk of sexual harassment or other serious workplace issues.

Risk management is about identifying and dealing with threats and opportunities throughout your organization.

(9:28) Incorporating risk management into HR training
(12:35) Predicting how tax reform might affect fundraising and annual gifts
(15:26) Limitations of mitigating risk through insurance
(16:42) Sharing risks with similar organizations
(19:00) Playing Smart: Verifying the types of insurances your organization has
(21:35) Knowing your staff, executive director and board’s role in risk management
(26:36) Freemium #1: Articles about Lean Risk Management
(29:15) Freemium 2: Ted’s Risk Inventory Report
(32:45) Freemium 3: Ted’s Funder’s Report on Risk Inventory
(38:00) Ted shares the biggest risk he has ever taken

Links:

Ted’s Website: www.risk-alternatives.com

Instead of merely asking grantees about risk management, funders need to be a part of the solution.

Nonprofit Risk Inventory Guide:  https://risk-alternatives.com/nonprofit-risk-inventory-guide/
Funders Free Report:  https://risk-alternatives.com/funders/
Lean Risk Management for Nonprofits Articles:  https://risk-alternatives.com/lean-risk-management-for-nonprofits/
Ted’s article in SSIR 2016: https://ssir.org/articles/entry/a_call_for_nonprofit_risk_management

 

 

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