Bob Bowman Director of Risk Management The Wendy s Company. Presentation Management sponsored by
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1 Bob Bowman Director of Risk Management The Wendy s Company
2 About Wendy s Wendy s is the world s third largest quick-service hamburger company. The Wendy s system includes more than 6,600 franchise and Company restaurants in the U.S. and 30 other countries. Dave Thomas founded Wendy s in 1969, with one restaurant and a vision of serving up a quick meal without cutting any corners. As we continue to grow, we'll always be sure to keep Dave's traditions and legacy in mind. By partnering with the best suppliers in the business, we're able to serve up fresh, Deliciously Different food every day. But Wendy's is about more than just food. By supporting our employees, we continue to feel like a true family business, creating joy and opportunity through food, family and community.
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4 We All Grew Up Somewhere in Risk Management Shack Silo
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6 Gaining synergies and beginning to speak a common language
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8 Loss Prevention- Claims Reporting OSHA - COPE - Claims Management Vendor Compliance - Safety - Loss Prevention Business Continuity ISO - Absence Management Disaster Recovery - Risk Assessment Risk Transfer Risk Finance Credit Risk TIV - Life Safety Contractual Risk Transfer - Indemnification - Self-Insurance Fraud Risk GRC TPA Medicare Cyber Risk Quality Assurance Event Management Crisis Management Situational Intelligence Enterprise Risk And now we recommunications part of a conversation about the future! Management - Crisis COI Pandemic Planning Supply Chain Management Data Classification Malware GDPR Risk Appetite Risk Tolerance PCI-DSS Risk Attestations Litigation Mass Tort Financial Risk Management - Environmental Liability - Internal Audit NFPA - Social Activism EHS Root Cause Analysis Products Liability Management & Executive Risk - PPE Customer Relationship Management Design For Safety Fx Hedging Fire Prevention COSO - Accident
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10 From One End of the Spectrum
11 Consider the Continuum Many Perspectives. One Voice. One Message. One Brand and Reputation. The Same Data.
12 To the Other End
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14 Framework Six Critical Elements Maturity Model Roadmap Calendar Program Goals Program Vocabulary
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21 Disruptive Risk Management Disruptive Risks Low probability, High Impact risks, with significant, often sudden and unexpected effects on revenue, profitability, competitive position, and/or reputation. Include ancillary impacts with potential to change industry structure or operating conditions, make existing business models obsolete, derail growth, or otherwise pose fundamental threats to the long-term strategy. Unknown Unknowns Key Characteristics of Disruptive Risks Trigger events or risk thresholds not always clear in advance Develop in a non-linear manner. May create cascade impacts with multiple risks. May create new risks. Impact difficult to quantify difficult to assess solely on financial impact Frequently associated with fast moving developments related to advanced technologies, emerging industries, social influences, rapidly evolving political and regulatory conditions Disruptive Risks: Terrorist Attacks 2001 Hurricane Sandy 2012 Financial Crisis Hurricane Katrina, Rita & Wilma 2005 Fukushima Japan Earthquake, Tsunami, Nuclear Meltdown 2011 United States Political, Regulatory, Judicial Evolution Present
22 Deliberative vs. Intuitive Risk Management Intuitive Thinking Guided by emotional reactions and simple rules of thumb acquired from direct experience. Does not require engagement or extensive time or resources. Works well with predictable risks, if there is sufficient experience with possible outcomes and complexity is low. Tends to underestimate risk prior to manifestation and overestimate risk subsequent to manifestation. Personal and anecdotal. Reactionary. Deliberative Thinking Focused on quantitative, data-driven, reasoned development of possibilities for disciplined consideration before choosing among alternative courses of action. Analytical and systematic approach to identifying multi-faceted sequences, relationships and consequences. Seeks to have decision makers work to gain a full understanding of risk-related issues, then to undertake a comprehensive search for the more desirable alternative. Requires scenario development, modeling and stress testing
23 Authority Accountability Control
24 Insight Process Methodology Vision The Ability to Partner Cross-Functionally
25 Increased Probability of Achieving Goals Integrated Risk Management Risk Based, Deliberative Decision Making Culture A Seat at the Table, A Voice in the Discussion!
26 Enables Risk Facilitates Business Equips Functions For Success Protects Functions From Failure
27 Coming Up Next: 6:00 10:00: Evening The Battery Join us at Punchbowl Social, a one-of-a-kind gastropub, gaming parlor and social lounge. Equipped with bowling, pool, classic video games, table tennis, karaoke, darts, corn hole and giant scrabble. Sports & Social also serves an eclectic and extensive menu of beer and a well-appointed cocktail menu.
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