Enterprise Risk Management at Syracuse Time and Alarm

By Abhijeet Geete Aparna Pillai Kashyap Kabra Shivesh Ganotra

Agenda
What is the organization all about? Data Collection & Analysis Identified risks Recommendations for the organization Lessons learned

Systems Installation and maintenance compan Privately held serving NY since 1981 CEO John R. Urciuoli President William P Dibble Jr Office locations: Syracuse and Binghamton

Systems and Major Clients

Systems include Access Control Systems, Emergency Alert Systems, Time Management, Parking, Security/ Fire Alarms and Public Address Systems About 100+ Clients Major clients are from Healthcare, Government, Education and Commercial Sector

Organization Structure
CEO Vice President

President

Warehouse Manager

Accounts Manager

IT Manager

IT Manager

Technicians

Technicians

Data Collection Methods

1.

Interview with Key Company Personnel Company Documentation

Internal Website

2.

3.

Interview with Key Company Personnel

Interviewed William P Dibble Jr (President, Syracuse Time and Alarm) Interviewed Sean Kunai (Warehouse Manager)

Why?

Knowledgeable sources Received Overview of company risk management procedures and policies

Company Documentation & Internal Website

Company policies and procedures Information needed to take day to day decisions

Why? Risk Identification Compliance Risk Categorization

Data Analysis Methods

Content Analysis

Study of company product and service brochures Monthly Newsletters

Data Assessment

Recognize organization risk culture Recognize Policies and procedures

Data Filtering Brainstorming

Risk Culture
Factors which led to current Risk Culture Vendor discontinuations

Recent flooding at Binghamton

Introduction of new regulations and government policies

Risk Identification & Management

Risks are identified in an ad-hoc manner and managed Risks are identified and managed primarily by CEO and President

Contingency Planning

Business plan for restoring IT infrastructure Data Backup Plan A Offsite Backup Snapshots of database by Servers- Every 15 minutes Data Backup Plan B Physical Backup Backup tapes moved to Binghamton Office Generators for power failures Emergency response teams for Natural disasters Periodic evacuation drills twice a year

Types of Risks
Technological

Risk

Server Overloading
Data Security
Compliance

Risk

Government Regulations
Credit

Risk Risk

Customer Defaults
Personnel

Temporary Employees

Recommendations for Technological Risks

Load Balancing for Server Ensure Data Security by providing restricted access Conduct regular training seminars and workshops Formulate Back up and recovery plan for Inventory Management

Recommendations for Compliance and Credit Risks

Automate

Periodic Certification upgrades

procedure
Conduct

Regular meetings to identify emerging issues a team for Vendor Evaluation credit checks on the Customers

Formulate Regular

Automate

Insurance and bond maintenance procedures

Recommendations for Personnel Risk

Conduct regular training sessions for employees regarding policies & procedures
Regular employee feedbacks & reviews Develop Content Management System for Internal Website Hiring Agreement for Temporary Employees

General Recommendations

Generate regular risk impact reports and ensure its distribution Receptive to Technology upgrades
Ensure smooth communication flow in the company hierarchy

Lessons Learnt

Standardization of the business operations, certifications, licensing & permits are very crucial for SSI Inclusion of business managers & front-line employees in the ERM process. Risk management is an iterative process rather than an one time comprehensive strategy Client feedback is also an important factor in ERM Significance of Employee training in ERM

References

Class notes

Report on the policies and procedures like Preventive Maintenance Agreement (Syracuse Time & Alarm Co., Inc. - Inter-office Memo)
Reports on Incentive policies and plans (Product Sales Lead Policy) http://www.syrtime.com/ http://www.syrtime.com/images/Newsletter-archive/ http://www.syrtime.com/index.php/solutions/ http://www.nicet.org/certificants/information.cfm/ Interview with William P Dibble Jr(President) Interview with Sean Kunai (Warehouse Manager)