Rich Johanson on Creating a Risk Profile When No Precedent Exists

Besides making a mean Manhattan, Rich Johanson is the bilingual Director of Risk Management for a Fortune 100 Defense Contractor. He was introduced to the insurance and risk management industry a short 24 years ago at 24 Hour Fitness. In today’s episode, Rich offers tips for those who desire a career in Risk Management, what to expect when building partnerships in the industry, what to consider when creating risk profiles for innovative new products and services, and why successful risk managers leave the decision-making to others within the organization.

Key Takeaways:

• Rich describes what led up to him becoming a Director of Risk Management for a defense contractor.
• Rich would probably enjoy the show Heist based on his time in Spain.
• Working for 24 Hour Fitness on general liability and workers comp claims gave Rich his first taste of risk management.
• How Rich transitioned from a privately-held fitness company to a publicly-traded Fortune 500 defense contractor.
• Having a mentor early in his career helped Rich understand the context of Risk Management and the role of a Risk Manager.
• Risk Managers understand all the implications of the decisions others make.
• How being bilingual helps Rich in his role.
• Rich attributes having a strong background in claims for his successful career in Risk Management.
• How Rich conceptualizes the risk associated with a brand new product.
• Spending time with his wife is how Rich prefers to spend his time outside of the office.
• Rich refers to his whisky collection as aggressive.
• It is important to understand where your assets, tools, and resources are in your organization.
• What to consider and expect when brokering a relationship with a partner.
• Advice for students interested in a career in Risk Management.

Mentioned in This Episode:

Devotion: An Epic Story of Heroism, Friendship, and Sacrifice, by Adam Makos