All Roads Lead to ERM

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

In this episode, Justin interviews Merline Barrington, ERM Manager for the Port Authority of NY and NJ, who will be a speaker at the RIMS ERM Conference 2023 on the morning of Friday, November 3rd. Justin and Merline discuss Merline’s career path, what her passion is, and how it led her to the Port Authority. She speaks of the benefits she gains from her CRMP certification and gives us a glimpse of what to expect from her session on Nov. 3, at the RIMS ERM Conference 2023.

 

Key Takeaways:

[:01] About RIMScast.

[:14] These are the final days to register for the RIMS ERM Conference 2023, in Denver, Colorado on November 2nd–3rd. Visit RIMS.org/ERM2023 and listen to this episode to hear the online-only code you can use to save 10% off your registration at checkout!

[:46] About today’s episode, where we will discuss ERM and transportation with Merline Barrington of the Port Authority of NY and NJ. Merline will be a presenter at the ERM Conference 2023.

[1:06] The RIMS ERM Conference 2023 will be held in Denver, Colorado on November 2nd and 3rd. Visit RIMS.org/ERM2023 to view the agenda. At checkout, if you type code 2023RIMSCAST, all one word with no spaces, you will receive 10% off your registration.

[1:27] The ERM Conference 2023 will be different than years past. We’ve got some great changes. Book your travel plans now! RIMS will host a Post-conference Workshop for the RIMS CRMP from 9:00 to 4:00 MT on November 4th and 5th. Save $100 when you register for the conference and workshop in one transaction. Links are in the notes.

[1:58] My guest today, Merline Barrington, is the Manager of Enterprise Risk Management for the Port Authority of New York and New Jersey. On November 3rd, she will be leading one of the breakout sessions at 9:00 a.m., titled “Connecting ERM to Strategy: Tackling Strategic Risks a Deep Dive at a Time.”

[2:20] Merline is also a CRMP holder and a lot of fun to speak with. Let’s get started! Justin welcomes Merline Barrington to RIMScast!

[2:32] Justin and Merline met last year at the RIMS ERM Conference 2022 in Indianapolis. Merline was a very excited attendee. Justin picked up on that enthusiasm and suggested Merline should submit a session. Today, they will talk about the session Merline will do for RIMS ERM Conference 2023.

[3:13] Merline Barrington’s session for RIMS ERM Conference 2023 is called “Connecting ERM to Strategy: Tackling Strategic Risks a Deep Dive at a Time,” on November 3rd, kicking off the Friday morning sessions. Merlin is more excited than nervous about it!

[3:34] Justin was fascinated with Merline’s position at the Port Authority of New York and New Jersey. She is the lead for ERM. The ERM unit is a small, nimble, central group with dotted line connections up, down, and across the enterprise to areas that are indirectly or directly responsible for ERM risks to their business and objectives.

[4:35] As a Certified Risk Management Professional (CRMP), Merline is responsible for leading and innovatively developing an ERM program designed to proactively manage business, operational, emerging, and strategic risks to this very complex, quasi-government, bi-state organization.

[4:55] The Port Authority of New York and New Jersey spans several global business segments altogether valued at several billion dollars. Merline’s work includes determining the agency’s ERM framework and architecture, and integrating risk intelligence with key functions such as strategic planning and resource allocation. 

[5:21] Merline also works with partners in different lines of defense, such as audit and insurance. All of this is ultimately to inform decision-making and to provide that holistic view and understanding of significant risks to executive and board-level audiences.

[5:39] Merline works with various levels of the enterprise, from the most senior executive levels to the front-line staff to proactively identify and manage risk via workshops, risk control self-assessments (RCSA), and other techniques.

[5:57] Importantly, Merline’s job also includes developing and mentoring practitioners on her team and indirect team members throughout the organization to deliver on its program’s value proposition.

[6:32] Merline discusses the value proposition of ERM. If you take the time to craft an honest and accurate value proposition for the brand of ERM of your organization and consider what your key audience expects from ERM, you can develop a cascading message where the core remains the same but there are different levels of zooming in.

[8:06] The Port Authority is responsible for transportation by land, water, air, and roadways. This includes the major airports in the New York-New Jersey region, and one in upper New York: LaGuardia, JFK, Newark, and National Airports. It includes the seaport, marine terminals, bus terminals, bridges, tunnels, and commuter rail pass.

[9:31] The Port Authority also has some real estate in Lower Manhattan. If you’re in or around New York or New Jersey, you touch a Port Authority asset, one way or another,

[10:02] Merline explains what brought her to the Port Authority. She has a passion for public service. She earned a spot in the agency’s competitive management program for grad students. She touched many areas of the agency, which piqued her interest in a career in an area where she could leverage her skills to improve public service.

[10:41] Merline’s career at a transportation provider led her to risk by providing an avenue to build her career in an area that is purposed to protect routine, mature organizational value. That is ERM. Following her passions in what she is good at is what led Merline to ERM. She wants to make public institutions better with her skills.

[11:21] This is Merline’s 10th year at the Port Authority.

[11:50] RIMS plug time! Justin sends a quick shoutout to the RIMS New Zealand and Pacific Island Chapter and Marsh Australia and New Zealand, who welcome you to “Embrace the Unknown, Unleashing the Power of Risk.” This is a one-day session on February 12th, 2024 at the Pullman Hotel in Auckland, New Zealand.

[12:13] It will be a gathering of experts, thought leaders, and professionals from various industries to explore and discuss the critical role of risk management in today’s dynamic and uncertain world. There are sessions about AI, resilience, and adaptability, highlighted by case studies and insights. A link is on this episode’s notes.

[12:35] Upcoming Virtual Workshops: Visit RIMS.org/virtualworkshops to see the full calendar. Our friend Chris Hansen was recently on RIMScast. He will be leading Managing Worker Compensation, Employer's Liability, and Employment Practices in the US on November 7th and 8th. Be sure to register for that course!

[13:03] December 7th starts the three-part course, Leveraging Data and Analytics for Continuous Risk Management, which will be led by our friend Pat Saporito.

[13:15] Information about these sessions and others is on the RIMS Virtual Workshops page. Check it out and register!

[13:24] On October 31st, Resolver returns to present Building Your Business Case for GRC Software in 2024. Metrics That Matter has Enhanced Decision-Making Across Your Cybersecurity Program on November 7. CLARA Analytics makes its RIMS debut on November 9th with Risk Management in the Era of Artificial Intelligence.

[13:56] On November 16th, Nationwide returns to present U.S. Customs Surety Bonds: A Primer for Risk Professionals. On November 21st, Beazley returns to present Business Risk: Helping Your Executives to Navigate Today’s Volatile Risk Environment.

[14:15] On December 12th, Prepare Yourself for the New Generation of Risk with Riskonnect. On December 14th, Aon will be Addressing Today’s Risks While Preparing for the Risks of Tomorrow.

[14:28] Visit RIMS.org/Webinars to learn more about these webinars and to register! Links are in the show notes. Webinar registration is complimentary for RIMS members.

[14:49] Generally speaking, organizations of similar size or depth to the Port Authority may be experiencing a confluence of strategic risks, such as cybersecurity meets climate change, and the need to adopt digital and climate-friendly technology at a balanced rate, so as not to exceed the adoption curve, while attracting the right talent.

[15:41] Merline believes organizations are having to grapple with the introspection of these risk areas, compounded by a volatile global and economic context. The ability to interpret uncertainty before it fully emerges is relevant to organizational strategy. Being able to measure the potential impact is critical to the success of any organization.

[16:25] Merline advises organizations and travelers to book flights early and plan ahead. Have a Plan B. See if your destination is also served by rail or other modes of transport since things are unpredictable. If your flight doesn’t work out, you have another plan.

[17:44] Merline’s RIMS CRMP certification has added much value to how she approaches ERM in the organization, especially in how she develops new staff. It helps when mentoring staff to be able to point to specific principles and research to delve into to become a better RMP and communicate how said principles enrich the work they do.

[18:26] Merline earned her RIMS CRMP about two years ago. She was attending the conference where she met Justin as a way to gather credits toward recertification. Merline has a lot of interest in ERM and AI and data analytics and ERM. 

[19:28] All roads lead to the further integration of ERM and strategy, using all the developing emerging technologies of AI, data, etc. ERM is to get better insights and get ahead of the curve to bring meaningful dialog to the attention of decision-makers and facilitate decision-making based on a thorough understanding of data and analytics.

[20:14] Merline Harrington shares her CRMP story in a link in this episode’s show notes.

[20:21] Merline’s ERM session will be one of the first Conference breakouts of November 3rd, “Connecting ERM to Strategy: Tackling Strategic Risks a Deep Dive at a Time.” Merline is excited to share a bit of the journey of her ERM practice at the Port Authority, sharing her wins and lessons learned that turned into tactics and techniques.

[21:31] Merline will be highlighting some of the turning points, all of which happened at a complex organization while engaging several different types of businesses, which added complexity to her work.

[21:54] Merline is eager to have this conversation on ERM starting with COSO’s updated version of the ERM Framework in 2016‒2017, explicitly tying what we do to strategy setting, strategy execution, and strategy monitoring. And then the hard work came in of planning how to do it. Everyone has their own flavor or path of ERM.

[22:32] If a person can walk away from the session with a helpful technique or two Merline will think she has been successful. Justin will try to jump into Merline’s session first thing in the morning.

[22:58] Justin tells Merline Barrington it’s a real pleasure to see her again, and looks forward to seeing her later this week in Denver.

[22:19] Special thanks again to Merline Barrington of the Port Authority of New York and New Jersey for joining me on RIMScast. I have a link to her CRMP story on this episode’s show notes. She’ll be kicking things off for us on November 3rd at the RIMS ERM Conference 2023 in Denver, Colorado.

[23:40] Last call for registration, folks. Visit RIMS.org/ERM2023. Register today, We want to see you there!

[23:48] Go to the App Store and download the RIMS App. This is a special members-only benefit. Everybody loves the RIMS App!

[24:10] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate! Contact pd@rims.org for more information.

[24:54] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. The RIMS app is available only for RIMS members! You can find it in the App Store.

[25:20] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[25:36] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com and in print, and check out the blog at RiskManagementMonitor.com. Justin Smulison is Business Content Manager at RIMS. You can email Justin at Content@RIMS.org.

[25:58] Justin thanks you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

 

Mentioned in this Episode:

RIMS ERM Conference 2023 | Nov 2–3 in Denver, CO! Enter 2023RIMSCAST at checkout for 10% off registration!

Embrace The Unknown: Unleashing the Power of Risk | Hosted Live & In-Person by RIMS NZ & PI | Feb 12, 2024 | Register early to save 18%​:

Dan Kugler Risk Manager on Campus Grant

RIMS-Certified Risk Management Professional (RIMS-CRMP)

NEW FOR MEMBERS! RIMS Mobile App

Merline Barrington’s RIMS-CRMP Story

RIMS Webinars:

Building Your Business Case for GRC Software in 2024 | Sponsored by Resolver | Oct. 31, 2023

Enhance Decision-Making Across Your Cybersecurity Program | Sponsored by Metrics That Matter | Nov. 7, 2023

Risk Management in the Era of Artificial Intelligence | Sponsored by CLARA Analytics | Nov. 9, 2023

An Introduction to U.S. Custom Surety Bonds | Sponsored by Nationwide | Nov. 16, 2023

Business Risk: Helping your Executives Navigate Today’s Volatile Risk Environment | Sponsored by Beazley | Nov. 21, 2023

Prepare Yourself for the New Generation of Risk | Sponsored by Riskonnect | Dec. 12, 2023

Addressing Today’s Risks While Preparing for Tomorrow | Sponsored by Aon | Dec. 14, 2023

RIMS.org/Webinars
Upcoming Virtual Workshops:

Captives as an Alternate Risk Financing Technique | Nov 1

Managing Worker Compensation, Employer's Liability and Employment Practices in the US | Nov 7

Leveraging Data and Analytics for Continuous Risk Management | Dec 7
See the full calendar of RIMS Virtual Workshops
All RIMS-CRMP Prep Workshops – Including Chris Mandel’s Dec 13-14 Course

Related RIMScast Episodes:

“Harnessing Innovation’s Promise with ERM Conference Keynote Bob Roitblat”

“ERM’s Value Proposition with Chris Mandel”

“ERM in Banking & Finance with Eleni Willis”

“Emerging Risks and Board Reporting with Suzanne Christensen”

Sponsored RIMScast Episodes:

Cyclone Season: Proactive Preparation for Loss Minimization | Sponsored by Prudent Insurance Brokers Ltd. (New!)

“Subrogation and the Competitive Advantage” | Sponsored by Fleet Response

“Cyberrisk Outlook 2023” | Sponsored by Alliant

“Chemical Industry: How To Succeed Amid Emerging Risks and a Challenging Market” | Sponsored by TÜV SÜD

“Insuring the Future of the Environment” | Sponsored by AXA XL

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

 

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Darius Delon!

Spencer Educational Foundation

RIMS DEI Council

 

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

RIMS Buyers Guide

Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.

 

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About our guest

Merline Barrington

ERM Manager for the Port Authority of NY and NJ

 

Tweetables (Edited For Social Media Use):

As a Certified RMP, I am responsible for leading and innovatively developing an ERM program designed to proactively manage business, operational, emerging, and strategic risks to this very complex, quasi-government, bi-state organization. — Merline Barrington

 

I work with various levels of the enterprise, from the senior executive levels to the front-line staff to proactively identify and manage risk via workshops, risk control self-assessments (RCSA), and other techniques. — Merline Barrington

 

If a person can walk away from the session with a helpful technique or two, then I think I would have been successful. — Merline Barrington