Managing Risk at the Metropolitan Sewer District of Greater Cincinnati
The overall strategic objective of the Metropolitan Sewer District of Greater Cincinnati (MSD) isrnto provide high-quality, cost-effective wastewater collection and treatment services to therncommunity in a manner that meets their needs, as well as those of the environment. To achievernthis objective over the long-term, MSD needed to develop and sustain a risk management culturernthat maximizes opportunities but minimizes risks associated with its overall objective.rnDeveloping a risk management strategy was critical to MSD because it used an enterprise-widernprocess to identify MSD’s top risks and created a risk register that enables risks to be identifiedrnand managed on a long-term basis to better enable achievement of MSD’s overall service andrnperformance requirements.rnMSD provides wastewater services to the City of Cincinnati and Hamilton County, Ohio, and isrnmanaged and operated by the City of Cincinnati. MSD has been managing risk since its inceptionrnthrough formal and informal processes, application of certain best management practices,rnpolicies and procedures. Currently there are a number of challenges facing MSD – depressedrneconomic climate, the launch of Project Groundwork, the single largest capital program in itsrnhistory, stringent environmental regulations, rate and financial pressures, service level demands,rnenergy efficiency mandates, infrastructure repair and replacement requirements, and workforcernrecruitment and retention needs.rnIn additional, financial policies were recently approved by the Hamilton Board of CountyrnCommissioners (BoCC) requiring development, management, reporting and monitoring of keyrnrisks by the utility. In defining the term risk, MSD utilizes the following formula: Risk equals thernLikelihood of an Activity Occurrence multiplied times the Consequence (or probability) of thernActivity Occurrence (or R = L x C). For example, putting the terminology into context, MSDrnfaces complexity around greater uncertainty involving MSD’s external economic environmentrn(i.e. Likelihood), while needing to manage continued exposure and impacts in meetingrnregulations by implementing large capital expenditures under Project Groundwork (i.e.rnConsequence).rnIn a forward thinking approach, MSD, in the development of their 2009 – 2012 Strategic Plan,rnidentified a variety of initiatives to help MSD remain competitive and operate efficiently like arnprivate sector business with risk management as a cornerstone element. Several goal areasrndefined the need to move risk management in a more formal and explicit direction at MSD. Goalrn5 is titled “Provide Financial Stewardship for the Utility that Achieves and Sustains CommunityrnService Level Expectations.” One early action and result was completion and adoption of MSDspecificrnFinancial Policies which were updated and now include risk management objectives,rnand a requirement for a clear, state-of-the-art risk management plan (RMP).rnIn January 2010 MSD’s Office of the Director (OOD) chartered the Risk Management Project tornaccomplish its goal in developing a definitive Risk Management Plan and sustainable risk management culture at MSD. The OOD project team was charged to complete the followingrntasks for the Risk Project:rn1. Develop a Risk Management Model and Processrn2. Identify Leading Risksrn3. Solicit and Incorporate Stakeholder Input on the Model, Process and Leading Risksrn4. Develop ongoing Risk Management Reporting and Control Processrn5. Document Current Risk Practices at MSD, including Improvement InitiativesrnThe Risk Management Project uses an enterprise risk management framework to help MSD tornidentify and respond to its top corporate, operational, asset and capital program implementationrnrisks. By undertaking this project, MSD is in a better position to supplement its traditionalrnfinancial and other regulatory reporting with more forward-looking information about how MSDrnincorporates the components of consequence and likelihood for its most important risks intornstrategic and operating decisions. As a result, MSD should be better able to define and align itsrnrisk appetite with key stakeholders, link risk assessment and performance, pool enterprise risksrnto facilitate critical funding decisions, minimize surprises and losses, seize opportunities, meet itsrnfinancial policy requirements, and enhance communication both externally and internally.rnSpecifically, the risk management process responds to MSD’s Strategic Plan wherein thernFinancial Policy action plan requires the organization to develop an enterprise risk managementrnframework that addresses the most important risks facing the organization, which includesrnappropriately investing in risk mitigation activities to effectively manage risk. The projectrninvolved four phases associated with effective risk management: identifying risks, assessingrnrisks, treating risks, and reporting risks. To implement this project, the OOD project teamrnworked to identify and filter risks facing the organizations, leading to identification of thernleading risks facing MSD. During the filtering process, risks that were not included on the finalrnlisting were added to the overall risk register to be monitored or managed at appropriate levels inrnthe organization. By filtering risks according to the components of consequence and impact tornidentify the leading risks, MSD was able to develop effective risk treatment plans for its mostrnimportant risks. These plans involve ensuring appropriate accountabilities, specific actions andrnrecommendations, information sources, and next steps. The project resulted in the developmentrnof risk management policies, process, and reporting and an action plan.rnThis project will provide significant benefits to MSD because it will enable all levels of thernorganization to be better aligned regarding how risks are managed to ensure that thernorganization’s risk appetite is not exceeded. Perhaps equally important is that MSD can use thisrnrisk management project as a platform for effectively communicating its risk managementrnactivities to its key external stakeholders, including the county, city, customers, and media, tornhelp in achieving its overall objective on a long-term basis.......
【作者名称】: Biju George
, John Fortin
【作者单位】: Metropolitan Sewer District of Greater Cincinnati
, CH2M Hill
【关 键 词】: Risk Management
, Rick Management Plan
, Strategic Plan
【会议名称】: Utility Management Conference Proceedings 2012 : Managing in the New Normal
【会议地点】: Miami, FL(US)
【会议组织】: Metropolitan Sewer District of Greater Cincinnati;CH2M Hill;
【上篇论文】: 外文会议 - Institutional Knowledge and Succession Planning In the Cloud: A Low-Cost Way to Capture How Things Really Work
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