The Certified Occupational Risk Manager

By Dr. Zulk Shamsuddin

An Occupational Risk Manager is responsible for managing the risks associated with occupational safety and health that affect the organization, its employees, customers, reputation, assets and interests of stakeholders. An Occupational Risk Manager will identify and assess threats to an organization, put contingency plans if things go wrong and decide how to avoid, reduce or transfer risk.
The Certified Occupational Risk Manager ™ is a professional gold-standard skills certification for individuals who demonstrate technical knowledge, skills and experience in managing occupational risks that will impact the organization performing its daily operations.
It forms the basis of the assessment that applicants must pass to gain Certified Occupational Risk Manager status and inclusion in the Directory of Certified Professionals of The GAFM Academy of Finance and Management ®. Individuals with several years of experience in risk management specifically in occupational risks are encouraged to acquire this certification.
This book shall guide you to prepare for the examination that can be taken via GAFM Digital Certification Services. Stand out from the crowd with the Certified Occupational Risk Manager ™ certification.

• Language: English
• Publisher: Lulu.com
• Release date: Apr 30, 2022
• ISBN: 9781435761858

Book preview

INTRODUCTION

An Occupational Risk Manager is responsible for managing the risks associated with occupational safety and health that affected the organization, its employees, customers, reputation, assets and interests of stakeholders.  An Occupational Risk Manager will identify and assess threats to an organization, put contingency plans if things go wrong and decide how to avoid, reduce or transfer risk.

The Certified Occupational Risk Manager ™ is a professional gold-standard skills certification for individuals who demonstrate technical knowledge, skills and experience in managing occupational risks that will impact the organization performing its daily operations.

It forms the basis of the assessment that applicants must pass to gain Certified Occupational Risk Manager status and inclusion in the Directory of Certified Professionals of The GAFM Academy of Finance and Management®. Individuals with several years of experience in risk management specifically in occupational risks are encouraged to acquire this certification.

This book shall guide you to prepare for the examination that can be taken via GAFM Digital Certification Services. Stand out from the crowd with the Certified Occupational Risk Manager ™ certification.

Benefits of becoming a Certified Occupational Risk Manager

Personal recognition from your peers in project management and other professions.

Enhanced CV to stand out in the job market.

A framework for the development of your career.

International recognition.

Assurance for clients of high standards and ethical practice.

Use of the post-nominal CORM or Certified Occupational Risk Manager ™

Increased understanding, helping you to work more effectively.

Introduce yourself with this exclusive membership card during networking, business events, conference, and anywhere. Membership has its privileges.

A typical occupational risk management programme focused on both helping an organization meet operational integrity and delivery objectives is likely to encompass a wide range of activities including:

defining the scope of occupational risk management (alongside other risk management functions, for example, credit and market risk management);

defining and putting in place the necessary roles and responsibilities and reporting structures;

identifying categories of risk, prioritizing them and mapping them against business processes to understand their impact;

working with businesses to assign ownership for managing each risk;

assisting businesses to identify and implement the necessary controls; and

implementing the required measures, methods and tools.

Responsibilities

Provide a methodology to identify and analyze the financial impact of loss to the organization as a result of inefficient Occupational Risk management.

Examine the use of realistic and cost-effective methods to identify Occupational Risk.

Identify hazards and prioritize occupational risks

Analyze current control measures

Capture risks and record them in the Occupational Risk Register

Develop a risk controls strategy

Develop and implement control measures and contingencies.

Monitor and control risks

Provides risk management reporting to project sponsor and senior management.

Occupational Risk is an Important Function of post-Project Delivery

Occupational risk management is an approach in which we explore identify, analyze and mitigate the risks that can affect the operational aspect of the product or service. Risk management is an important part of project transition management which if done efficiently leads to the success of your project. Risk management is an action plan that consists of various steps which are done to ensure the removal of risk. If you are dealing with uncontrollable risk then you may set such an action plan that can minimize the effect of these risks as you cannot fully get rid of such risks.

Occupational Risk management is done by risk managers or operational staff who are well aware of all the risks associated with any particular business or operation and different ways to mitigate them. As this is the age of multitasking so, various organizations also expect project managers to be risk managers as well. Large numbers of project management institutions are offering risk management courses for project managers. The courses not only help you to know the types and nature of Occupational Risks but also various techniques used to deal with these risks. The risk mitigation technique to be used depends on the nature of the Occupational Risk faced by your team so you must be very careful in developing an action plan for fighting against risks.

Skills and Qualifications

The occupational risk manager should be self-motivated, extremely organized, and have strong communication and project management aptitude. Employers typically seek candidates with a bachelor’s degree and the following skills:

Risk Management skills – risk managers need a strong understanding of risk processes and the cost of managing risk in projects

Strategic planning – the primary job of the risk manager is determining the best possible risk mitigation plan for a project to get completed on time and within budget

Teamwork – risk manager interacts effectively with cross-functional team members and external stakeholders at various levels of responsibility

Communication skills – Occupational Risk managers need strong verbal and written skills to provide reports to clients and stakeholders as well as articulate complex risk management plans to team members

Computer skills – risk managers use specialized computer software for project management purposes, and also to produce visual presentations, using bar charts and graphs to explain the impact of risks on key project activities.

Benefits of Occupational Risk Management

How to Acquire the Certified Occupational Risk Manager Certification?

Occupational Risk Managers generally need a bachelor’s degree or some other related discipline. Employers typically seek a minimum of three years of professional experience in risk management. A candidate with a Risk Management certification is especially attractive.

Application for Certification

https://gafm.com.my/application-for-certification/

Occupational Risk Management (ORM) is defined as a continual cyclic process which includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk. ORM is the oversight of occupational risk, including the risk of loss resulting from inadequate or failed internal processes and systems; human factors; or external events. Unlike other types of risks (market risk, credit risk, etc.) occupational risk had rarely been considered strategically significant by senior management.

Risk management must be a fully integrated part of planning and executing any operation, routinely applied by management, not a way of reacting when some unforeseen problem occurs. Careful determination of risks, along with analysis and control of the hazards they create results in a plan of action that anticipates difficulties that might arise under varying conditions, and pre-determines ways of dealing with these difficulties. Managers are responsible for the routine use of risk management at every level of activity, starting with the planning of that activity and continuing through its completion.

A typical occupational risk management programme focused on both helping an organization meet operational integrity and delivery objectives is likely to encompass a wide range of activities including:

defining the scope of occupational risk management (alongside other risk management functions, for example, credit and market risk management)

defining and putting in place the necessary roles and responsibilities and reporting structures

identifying categories of risk, prioritizing them and mapping them against business processes to understand their impact

working with businesses to assign ownership for managing each risk

assisting businesses to identify and implement the necessary controls

implementing the required measures, methods and tools

An effective way of examining occupational risk is by looking at the consequences to the organization of events disrupting specific processes:

direct financial losses, which arise from failing to meet an obligation (for example, penalty interest payments or restitution costs)

direct financial losses, attributable to an absence of income (for example, from loss of sales, transaction fees, direct fees or commission)

statutory or regulatory penalties, ranging from censure to revocation of licenses

opportunity costs, arising from adverse publicity, being unable to trade or because of processing delays, backlogs, poor customer service delivery or poor product or service quality

While occupational risk management (ORM) practices in some industry sectors are well established such as in the energy industries, the need for a systematic and holistic approach to ORM is only now starting to enter into the wider business consciousness. One of the most immediate business drivers for taking occupational risk management more seriously now than in the past is demonstrated by those organizations that have suffered catastrophic failure because of poor occupational risk management.  As we move into the early twenty-first century the rate of change is becoming one of the most important issues facing management.

An effective way of examining occupational risk is by looking at the consequences to the organization of events disrupting specific processes:

direct financial losses, which arise from failing to meet an obligation (for example, penalty interest payments or restitution costs);

direct financial losses, attributable to an absence of income (for example, from loss of sales, transaction fees, direct fees or commission);

statutory or regulatory penalties, ranging from censure to revocation of licenses; and

opportunity costs, arising from adverse publicity, being unable to trade or because of processing delays, backlogs, poor customer service delivery or poor product or service quality.

Why is ORM becoming an issue?

While occupational risk management (ORM) practices in some industry sectors are well established such as the nuclear power and air transportation industries, the need for a systematic approach to ORM is only now starting to enter into the wider business consciousness. One of the most immediate business drivers for taking occupational risk management more seriously now than in the past is demonstrated by those organizations that have suffered catastrophic failure because of poor occupational risk management. Barings Bank, which collapsed as a result of the massive losses caused by Nick Leeson and his illegal derivatives trading activities is a high-profile example of this kind of failure.

As we move into the twenty-first century the rate of change is becoming one of the most important issues facing management. Some of the drivers of change that have increased exposure to occupational risk for organizations across most industry sectors are outlined below.

Globalization

In today’s more competitive economic climate, organizations are finding it less easy to be complacent about their traditional business and organizational strengths. Organizations with traditional manufacturing or supply chain processes are finding it increasingly hard to compete because of pressures on margins and the response to customer expectations. As a result, many are moving away from defensive maneuvers in search of new ways of gaining a competitive advantage that is sustainable in the longer term. This often entails pursuing rapid growth in new markets or regions, stretching existing management resources and putting greater strain on operational performance.

Growth of e-Business

Today, complex and often high-risk operational processes and systems are at the heart of sophisticated ‘information age’ economies in Europe, the Americas and the