The management of risk is an increasingly important item for businesses to consider due to the many uncertainties and fluctuations in today’s business climate and the desire to increase corporate profitability. If this isn’t enough, businesses are being pressured by the Securities & Exchange Commission (SEC), certain regulations, and even credit rating agencies to implement Enterprise Risk Management (ERM) techniques to manage risk and improve management performance. Despite the general understanding that risk management is probably a good practice to follow, there is no tangible evidence that employing such techniques actually has a bottom-line benefit for the companies that subscribe to the practice. As such, companies are choosing to forgo this important management oversight process. This discussion will help to identify the potential benefits of the ERM process, and offer a general frame-work for implementing Enterprise Risk Management at your workplace.
Gary J. Lysik
City of Calabasas
Dr. Gary Lysik has been the Chief Financial Officer for the City of Calabasas since December 2003. In this position he provides leadership to the Finance Department and supports all aspects of business related to City finance. Prior to joining the City, Gary was employed by the Mountains Recreation and Conservation Authority as the Director of Finance. Dr. Lysik has served as the Vice-President of Finance at Reinstatement Services, Inc., and the Director of Financial Systems for Edison Security, a subsidiary of Edison International. Prior to his work with Edison, Gary served Northrop-Grumman Corporation as a manager in the Program Office and Finance Department. Having completed his Doctorate degree in Educational Technology at Pepperdine University, Dr. Lysik also holds a Master of Business Administration Degree (MBA) in Business Management and a Bachelor of Science Degree (BS) in Business Administration.