When is this day celebrated? March 1
What is Public Risk Management Awareness Day?
Whether it is a city, county, special district, school district, port authority or political subdivision of the state, public entities by their very nature, have a unique set of inherent risks. Public risk management professionals implement risk management frameworks to reduce, transfer, accept or mitigate those risks, which allows for fiscal stability, decreased liability, reduced reputation risk for the public entity and improved safety.
On any given day or night, public risk management professionals have a great variety of loss exposures within the diverse entities and communities they serve. Public services such as; law enforcement, fire protection, utility services (gas, electricity, water, storm water, sanitation), parks, environmental programs, public education, transportation, etc., by their very nature, increase the possibility that an event will occur having an adverse effect on the achievement of objectives. Managing risk within the constraints of special legal requirements, city charters, state statute and differing accounting/budgeting guidelines is markedly onerous.
Often, public sector risk management also has responsibility for litigation/claims administration, safety programs, risk financing programs including, the purchase of insurance for public buildings or facilities and contractual risk transfer. Using risk control frameworks which support the strategic plan of the entity, public sector risk management professionals scan the environment for risk, identify those risks, perform risk analysis, formulate treatment for risks and monitor treatments/controls and assure the effectiveness of those treatments and controls, all while balancing this with political scrutiny, budget constraints, stakeholder expectations and the risk appetite of the entity.
Creative rationale for the logo is that the star is the base for the logo, representing Texas, the state in which the Public Risk Management Awareness Day originated. The five points of the star abstractly represent the five stages/processes of the enterprise risk management process model; scan environment, identify risks, analyze risks, treat risks, monitor and assure. The colors and reversed wave are a subtle representation of the Port of Corpus Christi, who initiated the day of awareness for public risk management.
Why was this day created?
The goal is to bring a heightened level of awareness and education throughout communities by giving public risk management a platform to use as a springboard to create special activities, proclamations and publications commemorating every March 1st as Public Risk Management Awareness Day!
Who created this day? This day was founded by the Port of Corpus Christi Authority in 2019.
How should this day be celebrated or observed?
- Proclamations issued by local governments; cities, counties, Port Authorities, school boards.
- Legislative requests through state legislators/Governors to issue proclamations.
- Newsletters and other publications.
- National and State Public Risk Management Association recognition.
- Recognition of Public Risk Management professionals.
- Recognition of Public Risk Management initiatives.
- Network with other Public Risk Management professionals, such as Texas PRIMA.