Like those in the private sector, public risk managers can have a big impact on their organization's costs and bottom-line results–but only if they have a "seat at the table" with government decision-makers, the president-elect of the Public Risk Management Association advised.
Laura Peterson, state risk manager for Nebraska, noted that risk management can play a "huge role in an entity's bottom lines" by controlling losses, reducing premium costs and increasing productivity by returning people to their jobs more quickly after a workers' compensation claim.
However, she added, "risk managers charged with impacting the bottom line in their municipality also need to be able to communicate what they are doing to decision-makers. This is key."
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