Risk management is always a concern for any company.\u00a0 The other day I was speaking with Innovation and Commercialization Executive, Denise Drace-Brownell about her creative approach to risk management and discovered that her approach achieved bottom-line results that went way beyond corporate expectations.<\/p>\n

Here is the story she related to me. \u201cEbasco Environmental was a public global construction company and environmental engineering services company.\u00a0 Their Sales were $200M with multi-year contracts exceeding $1B.\u00a0 For many reasons, the 60-year old company had never had a corporate wide risk management program. Add to this that the Board of Directors and the Executive team wished to sell the company. Moreover, they set a strict deadline for this to happen, not only in the United States, but also for all 17 global locations\u2014including the Middle East, Japan, and Europe.<\/p>\n

“As VP Regulatory Affairs, I was asked to accomplish this by developing and implementing their first compliance risk management program. \u00a0After assessing both P&L and operations issues, and reviewing my team\u2019s capabilities, I recognized that my team of 22 lawyers and regulatory staff required a new approach to fully develop a strategy, implement it, and achieve Board directives.<\/p>\n

“To accomplish this, I designed and implemented a new Artificial Intelligence (AI) tool allowing remote areas to operate and implement the program without regulatory personnel.\u00a0 My tool cost-effectively controlled business risk and regulatory issues and was applicable at global, national, state, and local levels.<\/p>\n

“One of my goals was to implement a lesson\u2019s-learned program which encouraged our widely geographically and culturally varied teams to effectively collaborate. \u00a0In 12-months we not only had global acceptance, but the new program turned the risk management function into a $400K profit center. Another result was that Ebasco clients, such as Allied Signal and Chevron, wanted to use it, as well.\u201d<\/p>\n

Denise also told me that the program gained multi-million-dollar bonding status on Wall Street and that Deloitte & Touche set up a Joint Venture.\u00a0 Denise commented that, \u201cThe company was sold for an outsized offer in 18 months\u201d\u2026and the risk management program that Denise had created and her team enthusiastically embraced and implemented was cited as one of the reasons for the sale.”<\/p>\n

Is risk management causing you to stay up at night? You may want to speak with Denise about how her powerful AI program could be applied to your company and turn your risk management program into a profit center.<\/p>\n

Watch full video interview below<\/h3>\n

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