The Institute for Solidarity in Asia (ISA) held a Risk Assessment and Management Skills Lab last February 7, 2019 at the Green Sun Hotel, Chino Roces, Makati City with over 40 delegates from 12 different organizations in attendance. The workshop focused on the benefits of having a risk management framework for strategy implementation and highlighted the ways in which an organization can integrate risk management with the Performance Governance System (PGS).
The main facilitator, Mr. Michael Gallego, is currently a partner of the Advisory Service Division and the Head of the Knowledge Management Unit at P&A Grant Thornton—one of the world’s leading accounting and consulting firms. His extensive experience has made him an expert in internal audit and Enterprise Risk Management (ERM). Mr. Gallego provided the delegates with an in-depth introduction to risk management and guided them to look at their own organization’s PGS roadmap and evaluate their risk profile. The delegates also identified the key actors and levels of prioritization in responding to and monitoring risks which were the first vital steps in creating a risk management strategy.
Dr. Juliet Balderas, Head of Pediatric Cardiology at the Philippine Heart Center (PHC) and ISA Associate, presented a case study on how PHC was able to integrate ERM with the PGS strategy. She discussed the similarities of the objectives that they have chosen for their ISO accreditation and the ERM with their PGS objectives. To add, Dr. Balderas also highlighted the importance of intertwining ERM through every department and how good communication between each department is crucial to maintaining the risk strategies in place.
Closing the Risk Assessment and Management Skills Lab, Dr. Aniceto Fontanilla, an ISA Trustee, gave emphasis on the importance of having risk management as part of the organizational culture. After having attended and participated the workshop, the vision of ISA of a “Dream Philippines” was shared to the delegates who were tasked to share the knowledge to others in their field for further development and progress.