Risk Benchmarked Annually
Jeff Bray, Prologis senior vice president of Global Risk Management, benchmarks Prologis’ risk culture and framework every year.
In 2015, he moved away from traditional surveys and informal discussions, scheduling formal, one-on-one conversations with senior leaders. Bray wanted to understand key risks from each leader’s unique vantage point on the business. From these conversations, areas of progress within the company and emerging trends across the industry became apparent.
When Bray presented his findings to the board, they requested that he interview them as well. This resulted in further hours of conversation with board members. Bray’s conversations with senior leaders and board members told a consistent story: “Protecting our reputation as a leading real estate company and trusted investment partner drives risk awareness throughout the company.”
Bray adds, “Being a key component of our customers’ supply chain and upholding our fiduciary obligation to our investors have created a strong risk culture here at Prologis. Our strong risk culture ensures a resilient platform.”
Swapping surveys for interviews provided risk management with clearer sightlines on both current state and future possibilities and ensures a current view of the risk landscape. Says Bray, “We continue to improve relevance and transparency in our dialogue, and we make sure that our findings are actionable."