Enterprise Risk Management for Cooperatives

Date: Thursday, February 27, 2014
Time: 12:00 PM ET / 11:00 AM CT / 10:00 AM MT / 09:00 AM PT [Prevailing Time]
Presenter(s): Jeffrey Lynch
Field of Study: Management Advisory Services
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

This one hour CLN on risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.

Risks can come from uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards.

The strategies to manage threats (uncertainties with negative consequences) typically include transferring the threat to another party, avoiding the threat, reducing the negative effect or probability of the threat, or even accepting some or all of the potential or actual consequences of a particular threat, and the opposites for opportunities (uncertain future states with benefits).
Certain aspects of many of the risk management standards have come under criticism for having no measurable improvement on risk, whether the confidence in estimates and decisions seem to increase.

Here are some topics that Jeff intends to cover:

1. What is ERM and what does it mean for the organization?
2. Who are the company stakeholders in ERM?
3. What Risks are included in ERM?
4. Risk Policies, Reporting, Protocol and Controls.
5. Information systems and value of accurate information.

Presenter and Moderator Bios
Jeff Lynch was named Treasurer of GROWMARK in July of 2012. Jeff’s responsibilities include corporate and subsidiary financing, cash flow, foreign exchange and corporate credit. Previously, he has held positions at GROWMARK including Assistant Treasurer, Agronomy Business Manager, Agronomy Operations Manager, Grain Division Business Manager, Energy Accountant and Business Analyst.

Prior to arriving at GROWMARK, Jeff was a Farm Business Farm Management (FBFM) Fieldman of five years and served Piatt, Dewitt, and Vermillion Counties. His experience at FBFM provided him with a firm understanding of farm production accounting and analysis.

Jeff holds an undergraduate degree from Illinois Wesleyan University in Mathematics and Risk Management, and an MBA from the University of Illinois. He is a 2012 graduate of the Illinois Agricultural Leadership Program, and is a 2007 Graduate of the Institute of Cooperative Leadership. Jeff is also active in his family farm in McLean, Illinois.

Jeff serves on the boards of Total Grain Marketing, LLC, NORTHERN GRAIN MARKETING, LLC, MID-CO COMMODITIES, INC., and AgriVisor, LLC. In addition, Jeff is the Chairman of the Economic Development Council of Bloomington-Normal.

Cost
$56.00 for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.