Enterprise Risk Management at the Board Level: Understanding the Management of Insurable and Non-Insurable Risk
How do you leverage enterprise risk management (ERM) for decision making at the board level? How do you prioritize risk to help make smart decisions? Our two panelists will speak to the elements that need to be in place for ERM and dive into managing governance with a scaling organization. Our panelists will speak to both insurable and non-insurable risk, as well as best practices.
Mary McCutcheon represents corporate and individual policyholders in a wide variety of insurance coverage disputes. She also chairs the firm's Financial Services Industry Group.
Her wide-ranging experience includes disputes arising out of a variety of scenarios, such as securities actions, venture capital and private equity litigation, intellectual property and technology errors and omissions disputes, highly sensitive employment claims, mass casualty personal injury actions, and construction defect and delay claims.
Mary has special expertise advising companies and individual directors regarding issues involved in the placement of directors' and officers' liability, management liability and financial services liability insurance, and related indemnification issues, as well as handling claims under those policies.
Her day-to-day practice typically involves using a hybrid of legal expertise and interpersonal and negotiating skills to craft workable solutions. This often requires simultaneously working with her clients, the insurance broker, the client’s defense counsel and other parties to the litigation to achieve the client’s goals. By emphasizing a collaborative and strategic approach, a dispute can be understood as a problem to be solved rather than an adversarial situation, with improved results. Although litigation, as a last resort, is always a viable option, Mary strives instead to convince her opposing counsel that a practical, agreed-upon solution is a better outcome for everyone concerned.
Mary has edited the “Directors & Officers Liability Insurance” chapter in the California Practice Guide Insurance Litigation. She is a past member of the editorial boards of the ABTL Newsletter and the CGL Reporter. She speaks on insurance topics at professional conferences, such as those sponsored by the American Bar Association, the American College of Coverage Counsel, the National Association of Criminal Defense Lawyers, and the Association of Corporation Counsel.
Soraya Wright, Founder & Chief Risk Officer of SMW Risk Management Consulting LLC, has over 30 years of experience managing complex risks for global businesses. She leverages her experience to identify and evaluate enterprise risks as well as determine appropriate mitigation and risk finance strategies to protect an organization’s earnings and reputation. Soraya’s previous executive positions include VP-Global Risk Management & Crisis Management at The Clorox Company, where she was responsible for leading the company’s enterprise risk management program, global insurance strategy, crisis management and business continuity for worldwide operations; President-Board of Directors of the company’s captive insurance subsidiary, which she formed; and VP-Enterprise Risk Management at Target, where she was recruited to launch the strategy and centralized oversight of the company’s post-breach enterprise risk management program. In each role, Soraya advised C-Level executives on smart risk-taking and presented her findings to the Board of Directors.
Soraya is a champion for diversity and inclusion, leveraging her influence to develop strategies, change policies, establish protocols, and implement practices that enable organizations to drive success through diversity and inclusion efforts. Soraya served on the Diversity Advisory Board at Clorox, Co-led an African-American Employee Resource Group (ERG), and served on a Women’s ERG Leadership Team, to name a few. She currently serves on the Risk & Insurance Management Society’s (RIMS) Diversity and Inclusion Council and is a frequent keynote speaker on diversity matters.
Soraya has served on the Client Advisory Board of several insurance companies and commercial insurance brokerage firms including ACE (Chubb), FM Global, and MARSH. She is currently on the advisory board at Indenseo, an insurance telematics services company. She is a frequent speaker RIMS, Advisen, and Hawaiian Captive Insurance Forum conferences, covering a broad range of risk management topics to include Enterprise Risk Management (ERM) strategies, supply chain risk management, forming captive insurance companies, and managing complex losses.
Soraya is passionate about community service. She currently serves as Treasurer-Board of Directors at the African-American Arts and Culture Complex in San Francisco. She has served in a leadership capacity at over a dozen community and professional organizations, including the Board of Trustees at Holy Names University, Oakland’s Children’s Hospital Foundation, and the East Oakland Youth Development Center’s Board of Directors. In recognition of her community service, The United Way honored Soraya with the Adele K. Corvin Outstanding Agency Board Volunteer Award.
Soraya received her B.A. in Business Administration & Economics from Holy Names University. She is a member of the Executive Leadership Council (ELC) and Delta Sigma Theta Sorority, Inc. In December 2015, Soraya was named by Business Insurance as a “Woman to Watch.”