Monday Utomwen, Chief Risk Officer, WAICA Reinsurance Corporation PLC, Sierra Leaone

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27th FEB 2021
(SATURDAY)
09:00 AM - 17:30 PM IST

2. ISO 31000: Culture vs
Documentation, the
way forward
27th February 2021 (Saturday)
15:45 pm - 16:10 pm IST
ISO 31000:2018
By Monday Utomwen, Chief Risk Officer,
WAICA Reinsurance Corporation PLC, Sierra Leone

3. Speaker Introduction:
Monday UTOMWEN
Lagos, Nigeria
17 Years+ Industry Experience,
ISO 31000 Senior Lead Risk Manager,
ISO 22301 BCMS LI,
Disaster Recovery Manager
Monday Utomwen
Chief Risk Officer
WAICA Re Group
Monday is Certified in Quantitative Risk Management (CQRM), Risk Management, Real Options Analysis, Forecasting
& Predictive Modelling, Data Science & Monte Carlo Simulation. He holds a Master of Science in Risk Management &
Insurance, as well as a Master of Business Administration with specialisation in Financial Management. Monday is a
Certified Anti-Money Laundering Specialist and a Chartered Insurer. with over 16 years of risk, compliance and
insurance experience and a track record of successfully developing and implementing effective Risk Management and
Compliance programs within large and complex organizations. He is adept at identifying risks, developing and
monitoring key risk indicators (KRIs) and proactively implementing risk mitigation measures. Monday has proven
senior-level experience in executive decision-making, policy direction, strategic business planning, financial and
personnel management. Monday has practical experience in both the private and public sectors.
He is skilled in drafting and formulating risk policies, setting up and running a risk management department and at
embedding risk management in the culture of organizations. Monday has been involved in providing risk reports to
board of directors for effective decision making and helping managements surf through complex decision-making
process.
Monday has played the role of a Chief Risk Officer in at least three (3) organizations and he is currently the Chief Risk
Officer of WAICA Reinsurance Corporation Plc, Freetown, Sierra Leone, a company with presence in six (6) African
countries and the United Kingdom. Monday is skilled, qualified and certified as a Risk Trainer and he is very
enthusiastic about his presentations and delivery of risk information. He is lead trainer of ISO 31000 risk management
course for PECB in Nigeria, a guest risk consultant/trainer for West African Insurance Institute and other corporate
organizations. Monday has also authored several motivational books that are published in Amazon books.
Monday loves learning, meeting people and writing.
Connect at LinkedIn: https://www.linkedin.com/in/mondayutomwen/
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4. Kindly Note:
Speaker will take
your questions
automatically.
If you have any
question, please
comment that in
chat box.
Please keep your
mic mute.
22/10/2020
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5. Risk Culture vs
Documentation
Do you prefer a pile
of documents or a
culture of risk
management?
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6. 6
Documentation is
irrelevant
• Yes
• No
• I don’t know

7. 7
What is a risk culture?
A.The manner and way in
which the board and
management make
important decision
B.The manner and way in
which the employees
handle mission critical
objectives
C.The manner and way in
which everyone makes
decision

8. What Is Corporate Culture?
Corporate culture refers to the beliefs and
behaviors that determine how a company's
employees and management interact and
handle outside business transactions. Often,
corporate culture is implied, not expressly
defined, and develops organically over time
from the cumulative traits of the people the
company hires. A company's culture will be
reflected in its dress code, business hours, office
setup, employee benefits, turnover, hiring
decisions, treatment of clients, client
satisfaction, and every other aspect of
operations (Investopedia) 8

9. 9
Risk management is not a rule
but principles, best practices
and means of making informed
and calculated decisions:
• True
• False

10. 10
“Over the years we learned that
if we asked people to rely on
logic and common sense
instead of on formal policies,
most of the time we would get
better results, and at lower
cost.”- Patty McCord, Chief
Talent Officer, Netflix

11. 11
Human behaviour and culture
significantly influence all
aspects of risk management at
each level and stage. ISO
31000:2018

12. 12
Six Components of a Great Corporate Culture
by John Coleman – HBR
1. Vision: ”A great culture starts with a vision or
mission statement”.
2. Values: ”A company’s values are the core of
its culture”.
3. Practices: ”values are of little importance
unless they are enshrined in a company’s
practices”.
4. People: ”No company can build a coherent
culture without people who either share its
core values or possess the willingness and
ability to embrace those values”.
5. Narrative: “Any organization has a unique
history — a unique story. And the ability to
unearth that history and craft it into a narrative
is a core element of culture creation”.
6. Place: ”Whether geography, architecture, or
aesthetic design — impacts the values and
behaviors of people in a workplace”.

13. Questions
are Welcome!
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14. Please give your feedbacks in
the chat box about the webinar.
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