Enterprise Risk Management (ERM), as a concept only dates back about a decade or so – and was incorporated only in certain industries, such as banking. For transportation companies, implementation of an ERM program, in many cases, is still in the works. At VIA Rail, we understand the benefits of researching and creating an ERM program, which is why we established an ERM policy, adopted by our Board of Directors in 2014.
ERM is a framework within which a company can successfully navigate risk – both negative risk and positive risk (otherwise known as “opportunity”) in order to better achieve its objectives. For a transportation company like VIA Rail, the top consideration is the safety of our operations for which we have a strict no-risk policy. When it comes to safety, we follow the rules and we make sure to go above and beyond the accepted railway regulations to ensure the safety of our passengers, our employees and the public.
ERM also encompasses several other factors of our business such as employee engagement, revenues (linked to marketing) and technology. These are areas in which VIA has opportunities to thrive, as long as we understand and mitigate the potential risks associated with them. Here is where Denis Lavoie, VIA Rail’s Director of Enterprise Risk Management steps in. In his role, Denis is responsible for considering all potential risk factors, and creating the frame within which we can implement new initiatives, learn and grow. Denis identifies and monitors the “leading indicators” of each ERM factor, to ensure that we are moving in the right direction. Using these indicators, he follows our progress and lets us know if and when we need to make adjustments to our strategies.
One of Denis’ main responsibilities in 2015 is to instill a robust risk-aware culture among VIA Rail employees. What does it mean to be risk-aware? “Being risk-aware means taking the time to consider all the inherent possibilities, both positive and negative, associated with each project, before you begin. This simple exercise can save time, money and help with the development of thorough strategies right from the get-go,” explains Denis. In short, ERM improves the way companies are managed and directed, over the short and long-term.
Denis Lavoie’s innovative and comprehensive approach to ERM was recognized by his nomination for a coveted international prize awarded by the Institute of Risk Management (IRM) in London, England. IRM’s shortlist held six ERM specialists from around the world, with Denis being the only nominee from North America. This achievement, shortly following his recent appointment as Director at VIA, is a nod from the renowned group confirming that VIA is doing a remarkable job in seizing opportunities for growth while anticipating and alleviating risk wherever and whenever possible.
Congratulations, Denis, from everyone at VIA Rail. We are fortunate to have you on our team.
To learn more about governance at VIA Rail, I encourage you to visit our newly updated Board of Directors’ section on viarail.ca.
It was a thrill to represent VIA Rail as the co-chairman of National We Day in Ottawa yesterday.
We Day happens every year, in front of thousands of youth, each of whom earn their ticket to attend because of their positive global actions. There are 16 events annually: nine in Canada, six in the United States and one in London, England. This year’s event in Ottawa played out in front of an audience of 16,000! Thousands of leaders-in-the-making, already working in their communities to create change at a grassroots level… needless to say, this was a truly amazing event to be a part of.
I shared the stage with some awe-inspiring people in order to help the kick-off of a year of action called “We Act”. The We Act program offers educational resources and campaigns to help young people turn the day’s inspiration into sustained action.
VIA Rail’s role as a supporter of this event was simple: to share in this initiative as well as to promote the train as Canada’s most environmentally friendly way to travel. Helping our country grow and evolve is brought about not only by the larger projects these audience members have developed, but also by the smaller choices each of us make every day. Making sure our land is clean and healthy is part of that overall endeavour (we were also able to help by providing transport for many people to attend the day’s events).
I won’t inundate this blog with facts about VIA’s environmental track record, but suffice it to say that the “Green Choice” logo featured on our trains was earned through our employees’ great and ongoing efforts to improve our carbon footprint. If there were a We Day for VIA, well, we’d have a long list of people who earned their tickets as well!
VIA Rail whole heartedly thanks We Day, which has been going strong and growing fast since its first event in 2007. The day began as the brain-child of brothers Craig and Marc Kielburger as an extension of the charity Free the Children, founded in 1995 by Craig when he was only 12 years old. It’s nothing short of inspirational, as was the event itself.
Last week, I was honoured to speak at a Montreal Canadian Club’s luncheon. The Canadian Club is a forum at which leaders in business, politics, sports and culture are invited to discuss their positions on important issues as well as their visions for the future.
Excerpts have been edited and published on VIA Rail’s YouTube channel. The video, titled, “A Strategy for a Reliable, Frequent and Affordable VIA Train Service”, can be watched here. Please note that the speech was given mostly in French.
As long as you’re visiting our YouTube channel, why not learn even more about VIA Rail? Have a look at our video introduction to the 2015 Executive team, and our most recent (very fun) marketing campaigns.
In May of last year I began my mandate as VIA Rail’s new President and CEO. I was able to hit the ground running, so to speak, because of my previous four years’ experience at the company. I knew (and know) that beginning over my 5 year term as President and further into the 21st century, VIA Rail could evolve to its full potential, as an economically responsible, top-of-mind and valued service to Canadians. The vision was clear; all I needed was an Executive team to support and help guide the company.
Over the next few months, the team came together, and since January 1st, 2015, VIA Rail’s new Executive team has been spearheading innovations and projects in line with VIA’s new vision and client-centric culture.
During a recent trip onboard one of our trains, we produced an interview-style short video to introduce the team to our employees and to the public. In the six-minute video you will meet all the Executives and hear a bit about each of their projects, challenges and what’s to come.
As for me, there was also a short video created to introduce myself and my vision to Canadians that was published soon after my appointment.
Both videos can be watched by clicking on the links above, or better yet, hop over to VIA Rail’s YouTube channel, and have a look around. Both videos can be found there, along with other great content.
This year, the International Women’s Day organization has an important theme, promoted through the tagline “Make It Happen”. It’s a reminder that if we want something done, we need to engage and be a part of the change.
At VIA Rail, the importance and benefits of having both sexes represented equally is a responsibility and an opportunity we don’t take lightly.
Historically speaking, the railroad industry has been predominantly male, but times are changing, and VIA Rail is helping to “Make it Happen”. We make great efforts to attract a diverse workforce through our Employment Equity and Multiculturalism program, and foster a workplace that is inclusive.
In 2014, we are happy to report that we made strides in the right direction, especially at the Board, executive and senior management levels. Following the appointment of two new Directors, our 10 Board members (not including the CEO) are now evenly divided in terms of gender, placing VIA Rail in the forefront of board gender equality for both public and private corporations in Canada. Two women and five men make up the Officer team, and our senior leadership team (comprised of 39 managers) is 28% female.
Our efforts as an employment-equity employer, and our successes so far, are a source of pride and inspiration for VIA Rail. Of course, leadership is key to making it happen. VIA Rail is fortunate to report to the Honourable Lisa Raitt, Minister of Transport, who made clear her expectations in this regard.
Here’s wishing everyone a very happy International Women’s Day this March 8th.