Risk Management Services

Risk Management Services


“Security is mostly superstition. It does not exist in nature, nor do the children of men as a whole experience it. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure, or nothing.”

- Helen Keller

You face risk every day of your life. There are risks in waking up, getting out of bed, eating breakfast, walking out the door, driving, etc., etc., etc. Everyone practices risk management, to some extent, whether they know it or not. Risk management is part art and part science. It is the practice of analyzing the past, predicting the future, and taking action to try and control that future.

So, What Exactly is Risk Management?

The process of analyzing exposure to risk and determining how to best handle such exposure

In other words, looking at what could potentially go wrong (or right in some cases) and planning to try and control that outcome. For instance, risk management’s history starts with games of chance. Early mathematicians discussed the likelihood that certain outcomes would happen while gambling. It turns out that particular results are more likely than others. Anyone who has been hot at a craps table and subsequently ‘7’s out’ knows what we’re talking about. These early conversations turned into what we know now as statistics.

As is the case with rolling a pair of dice, we can develop an idea of the most likely business outcomes given a long enough amount of time and enough repetitions of the same business activities. Risk managers look at these possible outcomes and devise strategies to avoid them, mitigate them when they happen, or transfer the affects of them to another party. Risk managers typically view their subject from several viewpoints…

Types of Risk Management Services

Financial Risk Management
focus falls strictly on the financial transactions that an organization undertakes and the potential, financial impact.
Operational Risk Management
focus falls on the operational activities than an organization undertakes and the potential impact on achieving goals such as units produced, days in service, or customers serviced.
Enterprise-wide Risk Management
a holistic view that takes into account all of the activities of an organization and balances the effects across the entire organization.This perspective keeps in mind that risks can be positive too and that an organization may suffer if it isn’t positioned to take advantage of those risks when they turn out in your favor.

Why Do I Need Risk Management Services, I Buy Insurance Solutions?

A little imagery helps. Think of your business as a trapeze act. The insurance you purchase is the net that keeps you from falling to your doom. However, with every fall the overall appeal of the act drops. This means that you lose potential patrons and your costs to keep repairing the net get higher and higher. Risk management services are the training that happens before the show, the hand grips and chalk you use during the show to stay on the bar, and the succession plan you put in place to make sure the show doesn’t suffer if someone does get injured and can’t perform one evening (or ever again). But risk management isn’t just relegated to trapeze acts, gamblers, and statistics professors.


Risk Management Services Can Benefit Every Organization

No matter what industry you are in, Risk Management Services provide a crucial resource to helping you achieve organizational goals and keep things on track. The benefits here are most obvious in for-profit businesses but even not-for-profit and social services organizations can benefit from some sound risk management. After all, they might not charge for their services but there are specific goals they are looking to achieve, and a multitude of interruptions or negative events could interfere with reaching those goals.

When Should Risk Management Services be Used?

In short…during every phase of operating your business or organization. Keep in mind the ‘walking out of the door’ example. Just unlocking the front door to your business opens you up to an incredible number of possible outcomes that can hinder your ability to achieve what you want and even keep those doors open. Since every organization is unique, this also requires tailored Risk Management Services to meet the current and future needs of each and every organization that exists.

What Are Examples of Tailored Risk Management Services in Certain Industries?

Property Management Operations
  • Concerns: Large property values, location-specific profitability and dealing with a large number of contractors
  • RM Services: Comprehensive facilities maintenance plans, on-site safety inspections, and standardized contractor insurance requirements and vetting procedures
  • Concerns: Competitive bidding for jobs, worksite safety, and cash flow concerns
  • RM Services: Claims cost controls, job-site safety plans/audits, and enterprise-wide analysis of expenses and accounting controls
Biotechnology & Pharmaceuticals
  • Concerns: Hiring the best & brightest minds, purchasing expensive equipment, contracting out some research needs, and protecting against products liability lawsuits
  • RM Solutions: Hiring and disciplinary best practices plans, facilities maintenance & security plans, standard contractual procurement, and production quality control standards & testing
Healthcare Organizations
  • Concerns: Patient/Client injury, travelling personnel, and clients’ HIPAA-protected information
  • RM Services: Facilities safety audits, travel planning & training, and data security planning and staff training
Data Analytics Firms
  • Concerns: Costly server farms and huge amounts of valuable data
  • RM Services: Facilities maintenance & security plans, data security planning and staff training
Non-Profits & Social Service
  • Concerns: Thin budgets, delivering services to clients that depend on them, and organizational oversight
  • RM Services: Financial audit plans, contingency planning, and governance best practices plans & training
Manufacturing, Warehousing & Distribution Companies
  • Concerns: Supply chain disruption, inventory management, and occupational safety for their workers
  • RM Services: Supplier on-site inspections & audits (plus contingent sourcing plans), inventory auditing procedures & software, and occupational safety training & pro-active claims management
Public Counties, Towns, & Schools
  • Concerns: Maintaining essential services, large property values, and worker safety
  • RM Services: Contingency planning, property inspections & facilities maintenance plans, and occupational safety training & pro-active claims management

I’ve Implemented Some Risk Management Services, I’m Done Right?

Not quite…Risk Management Services are a cycle. Gather data, analyze the risk, treat the risk, review the performance, make changes, repeat. The risk management process happens 365 days a year, every year. If you’ve ever heard of Murphy’s Law, you know that the 1 day you skimp on risk management will be the day it ends up biting you in the rear end!

(What , When , How)


(What , When , How)


(What , When , How)


(What , When , How)

In addition, the risk management program you have in place, needs to fit with the Insurance Solutions you have purchased. This is another ongoing process as the insurance market will go through changes that might add or remove options that will need to take the place of or be replaced by risk management services.

How Does Treadstone Deliver Risk Management Services?

Treadstone Risk Management uses a combination of in-person visits, phone-based planning sessions, and online tools to design and execute your risk management program. Some clients find their way to us with a program already in place in which case our role is to review what is being done and supplement the efforts that are already being made. The cornerstone to any risk management program is communication. We communicate with you as often as is needed to implement, tweak, and update your Risk Management Services Program. It would be our pleasure to help you with your Risk Management Services needs.
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