Nov 1, 2022
Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.
Justin Smulison is once again joined by a speaker at the upcoming RIMS ERM Conference 2022! Charles Tapp II is the Chief Financial Officer and Chief Risk Officer of the Veterans Benefits Administration (VBA); overseeing the delivery of over $150 billion in benefits to Veterans and their families.
In this episode, Charles shares how organizations and the risk community can observe Veterans Day in new and meaningful ways, how he has led the implementation of ERM at the VBA, and gives a preview of his upcoming session at the RIMS ERM Conference titled, “Stakeholder Buy-in: Connecting ERM to Budgeting and Investment!”
Key Takeaways:
[:01] About the RIMS Membership.
[:14] About today’s episode and how to save $400 on the Pre-Conference Workshop for RIMS-CRMP Prep!
[:42] About RIMScast.
[:55] About today’s episode with Charles Tapp II.
[1:24] All about the upcoming RIMS ERM Conference 2022 and how to take advantage of an exclusive registration discount.
[2:00] Upcoming RIMS webinars, workshops, events, and more!
[2:57] More about today’s episode’s guests Nir Kossovsky and Carnell Jones.
[3:38] Justin welcomes Charles to RIMScast!
[3:52] Charles served as an officer in the U.S. Air Force for 10 years — specifically, a Career Financial Management Officer. Did this lead to his dual career in risk management?
[6:25] How Charles became the Chief Risk Officer at the Veterans Benefits Administration (VBA).
[8:24] Charles oversees the delivery of over $150 billion in benefits to Veterans and their families. He highlights some of the biggest risks and responsibilities in his role as CFO of the VBA.
[10:40] How many employees are a part of their risk staff?
[11:36] Why having staff liaisons (who are risk liaisons to the rest of the organization) is a key part of the Office of Financial Management.
[12:38] RIMS plug time! All about upcoming awards and nominations, virtual workshops, and more!
[14:18] Earlier this year, the VBA began its modernization efforts for benefits delivery through automated processes. Charles shares his insights on these efforts, having been on the ground floor of this effort.
[15:52] How Charles’ VBA group is being helped specifically with this new automation.
[16:16] Charles shares the most significant impact that ERM has had on the overall success of VBA.
[17:47] How Charles’ military training provides a unique perspective on his risk management career.
[20:04] Ways that Charles believes that organizations (and the risk community) can better observe Veterans Day on Nov. 11th, 2022.
[21:50] Justin thanks Charles Tapp II for joining the podcast and shares some of the links to check in today’s show notes!
Mentioned in this Episode:
RIMS ERM Conference 2022 — November 10‒11, 2022 | Indianapolis, IN — Agenda Now Live! (Special registration discount for RIMScast listeners! Enter Code: RIMSCAST2022 on the “Payment” page — Note: Only for new registrations)
Save $400 on the Pre-Conference Workshop: RIMS-CRMP Prep
Attend the in-person RIMS-CRMP Exam Prep Workshop, November 8‒9. Register for the ERM Conference and select the workshop on the “Additional Purchase Options” page. Your $400 savings will already be applied. Learn more!
The RIMS Strategic & Enterprise Risk Center
RIMS Events, Education, and Services:
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Contribute to RIMS Risk Management magazine
Dan Kugler Risk Manager on Campus Grant
Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.
Upcoming Webinars:
"The Great Retaliation: Why Risk Managers Should Heed New Trends in Workforce Sentiment" | Sponsored by Constitution State Services | Nov. 15, 2022
Virtual Workshops:
Captives as an Alternate Risk Financing Technique – Register by Nov 1! Course begins Nov 2‒3
Managing Worker Compensation, Employer’s Liability and Employment Practices in the US — Nov. 15‒16 | 12:00 pm‒7:30 pm EST | Registration closes Nov. 14 — Enroll Today!
Leveraging Data and Analytics for
Continuous Risk Management | Dec 1 | 10:00 am‒
2:00
pm ET |
Registration Closes November
30 — Save 30% on this
workshop! Use discount code: DATA2022
Applying and Integrating ERM — Dec 6‒7 | 9:00 am‒3:00 pm EST Registration Closes Dec 5th — Register Now!
See the full calendar of RIMS Virtual Workshops
Related RIMScast Episodes:
“Strategizing with Mark A. Pfister, RIMS ERM Conference Keynote” (2022)
“Navigating the Hazards of ESG-Linked ERM Risk with Nir Kossovsky and Carnell Jones” (2022)
“The Power of Storytelling in ERM with Dr. Karen Hardy” (2022)
“ERM, ESG, and More Acronyms with Jana Utter”
“ERM and Employment Trends with Terry Lampropoulos”
“Rethinking the Impact of Disruption on ERM Tools and Processes with Ward Ching and Dr. Paul Walker”
“Responsible Raw Materials, Mining, and ESG with Sarah Gordon of Satarla”
“Path to the Boardroom: Resolver CEO Will Anderson’s Journey”
“ESG and the Board with Luke Jacobs of Encamp”
Sponsored RIMScast Episodes:
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“ESG Through the Risk Lens” | Sponsored by Riskonnect
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“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL
“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire
“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.
“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett
“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency
“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.
“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL
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“The Golden Era of Insurance” | Sponsored by The Hartford
“Insurance Investigation Trends Happening Now” | Sponsored by Travelers
“What Could a CRO Do for Your Business?” | Sponsored by Riskonnect
“Hard Reality: A Look at Rising Rates in Property & Excess Casualty” | Sponsored by AXA XL
“Property Valuation Deep Dive” | Sponsored by TÜV SÜD
“Property Loss Control Engineering” | Sponsored by Prudent Insurance Brokers
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 Advisory Services — Ask a Peer
RIMS-Certified Risk Management Professional (RIMS-CRMP)
RIMS-CRMP Stories — New interview featuring RIMS-CRMP Chairman Ward Ching!
Spencer Educational Foundation
Want to Learn More?
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Follow up with Our Guest:
Tweetables (For Social Media Use):
“One of the largest responsibilities that we have at VBA is delivering benefits … to veterans in a manner that honors their service. … But just as important … is protecting them and making sure that we prevent fraudsters from redirecting veteran benefits.” — Charles Tapp II
“One of the things that we pride ourselves on in the Office of Financial Management is working with people and doing things with them instead of to them.” — Charles Tapp II
“Moving forward with automation was certainly the next right evolution for how we reduce claims here in VBA.” — Charles Tapp II
“ERM … is a lifestyle. … We are very focused on risk every day. … We are watching the claims production process and making sure that we are progressing as expected. … Introducing ERM into the mix is allowing us to be more deliberate … about … risk.” — Charles Tapp II
“If there’s an organization in your community that’s Veteran-centric … spend some time to learn more about what Veterans’ experience is like and their contributions to [our] safety … security and … history.” — Charles Tapp II