Public Risk Management Awareness Day
Ever wondered how tree branches are picked up off the streets after a storm or how a car accident is handled if caused by public transportation? Whether it is a city, county, school district, etc., public entities have a unique set of inherent risks just like the ones specified above.
Public risk management professionals oversee these types of public risk. They’re in charge of creating and implementing frameworks to reduce, accept or mitigate those risks, which allows for reduced reputation risk and improved safety.
What Exactly is Public Risk Management?
There are three parts to public risk management. First, there is “public,” which is defined as a population or a community.
Then there is the term “risk,” which is anything that causes “a possible loss, damage, threat or any other hazard in the public space.”
Lastly. there is the word “management.” This is where assessing, minimizing, and finding ways to combat public risk comes into play.
So, when we take these three pieces and combine them, they generate the following definition – public risk management: assessing, minimizing, and combating anything that causes a possible loss, damage, threat or any other hazard in a population or community.
What Does a Public Risk Manager Do?
Because every public entity comes with its own set of risks, not every public risk manager does the exact same job. However, there are some common duties that are highlighted below.
Public risk managers assess potential risks in a community and ensure that both the people working for the community and those living in the community are safe and protected. They have a great variety of loss exposures within the entities and communities they serve. They’re in charge of mitigating risks associated with public services like fire protection, parks, public education, transportation, etc.
They’re also responsible for implementing safety programs, managing claims and purchasing insurance for public facilities. Public risk professionals use risk control frameworks that support the strategic plan for the entities to identify risks, perform risk analysis, formulate treatment and monitor the treatment to assure the effectiveness, as well as balance with political scrutiny, budget, and entity expectations.
How Can You Celebrate Your Local Public Risk Management System?
The answer to this question is coming up on March 1, 2020, on the second annual Public Risk Management Awareness day! Last year Governor Greg Abbott signed a proclamation for the day and the Texas House of Representatives passed a House bill proclaiming the day.
Through Public Risk Management Awareness day your community can celebrate your public risk managers and educate the community on risk management. Some ideas include the following: sending out newsletters about the day, having a meet and greet with your cities public risk managers, or recognizing proclamations issued by local governments, cities or counties.
So now that you know exactly what public risk management is and how it works, we encourage you to start planning how you’re going to celebrate this year’s Public Risk Management Awareness day.