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Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Marya Propis about her career in retail brokerage, wholesale distribution, and executive leadership. Marya speaks of leaders who influenced her, how her leadership skills have changed in 30 years, and how emotional intelligence guides her as she helps young insurance professionals at RT Specialty. She also shares the importance of physical fitness and self-care in showing up at her best each day. Marya discusses the wholesale Excess and Surplus Lines marketplace in the U.S. She talks about her involvement in industry associations and the enthusiasm she has for helping students and new risk professionals. She shares information about the Spencer Educational Foundation's Funding Their Future 2026 Gala, where she will be one of two honorees. She serves as a Director of Distinction, acting as an ambassador for the Spencer Educational Foundation.   Listen for Marya's enthusiastic approach to persuasive leadership.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We will be rejoined by our friend Marya Propis, President of Retail Distribution at RT Specialty and honoree at this year's Spencer's Funding Their Future Gala in New York City on September 17th. There is a lot to catch up on. But first… [:47] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Links to registration are in this episode's notes. [:58] We have a summertime webinar. On July 16th, Zurich will present "Too Hot to Ignore: Heat-Related Injuries and Workers' Compensation." Register at RIMS.org/webinars and via the link in this episode's show notes. [1:13] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes. [1:34] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. We want to hear from you. Submit a session proposal by June 19th to reach engaged practitioners, innovators, and leaders looking for guidance they can utilize right away. [1:52] Help define what's next for Enterprise Risk Management. Submit a session proposal by Friday, June 19th. Visit RIMS.org/ERM2026. [2:02] Folks, through the generosity of its industry partners, RIMS has launched The Foundation for Risk Management™, which provides scholarships for early-career professionals to attend RIMS events like RIMS Texas Regional Conference, RIMS Canada Conference, and RISKWORLD. [2:21] The Foundation also helps beneficiaries earn their RIMS-CRMP and fund research projects. To learn more or contribute to the Foundation, visit RIMS.org/FRM and visit the link in this episode's show notes. [2:36] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:56] On with the Show! Marya Propis is rejoining us on RIMScast. She is the President of Retail Distribution at RT Specialty, and she will be honored this year at the Spencer Funding their Future Gala at the Waldorf Astoria in New York City on September 17th. [3:17] We'll learn about Marya's career, her risk management philosophy, how her physical wellness fuels her progress as a risk and insurance professional, and why she feels it is critical to continue her support for women in the profession. We're going to have fun. Let's get to it! [3:39] Interview! Marya Propis, Welcome Back to RIMScast! [3:49] Since the last time Justin and Marya spoke, Marya has joined RT Specialty. She is coming up on her 6th anniversary with RT Specialty. It has been the most enjoyable and successful career chapter she has been fortunate to enjoy. [4:04] Marya says there are so many great things to talk about in terms of what's going on in the marketplace and at RT Specialty and how that pertains to Spencer. [4:20] Marya is President of Retail Distribution. She was promoted to that role several months ago. A dedicated group under her leadership is keeping a finger on the pulse of what's going on in the ultra-dynamic U.S. retail landscape. [4:47] They are always thinking of ways to be more client-centric, partner more fully with their retail clients, and think of all the places that their clients need RT to be as the top wholesale partner in the U.S. [5:08] Marya has six people on her team for a wholesaler that placed $32 billion of premium last year. But, actually, her team is the entirety of all the brokers and underwriters that work for RT Specialty. That's 1,500 people. [5:28] Marya's job is to make the brokers and underwriters who work for the team more successful every day. Her stakeholders are the market-facing, talented brokers and underwriters. They are her team. [5:46] Marya sets best practices and standards around compensation, conferences, and the way they engage. Client-centricity is very important, so Marya extends direction for it. [6:00] Marya explains how leadership style has evolved. In the first half of her career, it was all about command and control, from the top down. Telling everyone what to do has evolved positively. [6:19] Marya prides herself on having very good influence and leadership skills. She says people want to follow her direction. She had to learn a lot to go from telling people what to do to creating a path people want to follow. Being a command-and-control leader doesn't feel good. [7:00] Marya says that when we started talking about emotional intelligence as an important part of leadership, she realized she had it. She just hadn't been using it in any of her management or leadership roles. [7:11] It became more acceptable to use emotional intelligence to get your team aligned and get people thinking around the direction you need to go as a team or a firm. That's been very positive for Marya, but she couldn't flip that switch overnight. [7:30] Marya had to learn a lot to change her leadership style so people want to follow and feel that she is creating the right direction, so they can be more successful, not leading them down a path to doom and demise. [7:52] Marya says that an emphasis on emotional intelligence came hand in hand with the industry starting to pay attention to women in insurance and the lack of representation of female leadership in insurance. [8:09] Marya says that a decade ago the insurance industry started to be deliberate about realizing they didn't have many women in leadership and that there were obstacles in the industry to women being promoted and compensated at the same rate as their male colleagues. [8:31] Emotional intelligence came along with the recognition that women have a distinct and unique skill set. Emotional intelligence is a prevalent part of a woman's skill set. Women bring real value as leaders. The traits that come with that include emotional intelligence. [9:07] Justin says we have such a great group of rising risk professionals, particularly females, in the profession and the RIMScast listenership, so this is a great way to kick off this dialog.  [9:25] Marya says she has worked for a lot of great leaders. She was fortunate to work closely with many executives. You can watch a leader and learn a technique or a trait that you can add to the skill set you already have. Marya says she gets her best material from others. [10:14] Marya says Pat Ryan, who founded RT Specialty, is the absolute Superman of insurance. Any time she hears Pat Ryan talk, she leaves with a gem that she commits to do or think about, going forward. He uses an expression: "Do the right thing, because it's the right thing to do." [10:47] If you use that as a guiding principle for how you set your priorities and make decisions, based on what your retail clients need, then it's very obvious what you need to do. It has become a guiding principle for her in the way she makes decisions every day. [11:47] Marya says her scope of responsibility is just retail clients. Her colleague Leah Ohodnicki oversees carrier management. They talk all the time. There are so many of the same principles that they apply, just to different channels in the marketplace. [12:07] Marya has been a career salesperson. For her whole insurance career, she has sold stuff. She has sold capabilities and products. She sells and represents wholesale brokerage services. [12:27] Marya says no client is like another. You must see every client with fresh, objective eyes. Every client has something unique, or a competitive advantage, or something special about the way they've built their firm. Sometimes you have to look carefully to find it, but it's always there. [13:06] You have to be willing to put yourself in their shoes. How do they see the world? How is that retailer creating visibility and driving success? [13:26] Marya prides herself on being a student of who the retail client is and thinking about how to better frame partnership strategies to work with them as effectively as possible, rather than thinking about herself, RT Specialty, and all the stuff she can throw at any retail client. [13:48] In Marya's mind, the way to do it is to start by asking what they need. Where is the place that they will need RT Specialty to be more successful? Then she constructs an engagement approach around that. That's different from how she thought about it 20 years ago. [14:15] In any industry, Marya doesn't want to be a vendor. She wants to be a partner. There's a big difference in the way you have to think to be a trusted business partner. That's a very important part of Marya's personal and professional philosophy in creating partnerships. [15:13] Marya says she's very committed to the digital distribution model. It's been one of the more exciting and dynamic components of the retail channel. Marya doesn't use AI interchangeably with digital distribution. Digital distribution is where we sell things online. [15:41] Marya says AI is a technology enabler that helps us be more efficient in sales. RT Specialty has an online portal called RT Connector that has been trading E&S Specialty, Micro and Small Commercial P&C products for eight years on the digital distribution platform. [16:09] Marya says there's a newish type of retail agent in the U.S. marketplace called digital agencies. They want to trade as efficiently as possible. They want API connectivity. They're focused on a specific segment and industry, in terms of where they feel they can sell and trade. [16:31] Marya says even the way they acquire leads is very different than a traditional retail model. Marya says we're certainly not going to sell RT the same way to a digital agency as we do to a big Alpha house. They're very different. [16:51] Understand the model. Understand how that retail agent or broker is structured, and meet them where they are. With digital retail agents, it's a completely different type of retail partnership that they can build with them vs. other models they've worked successfully with. [17:18] Marya says our retail clients are always evolving and changing and buying lots of stuff, in mergers and acquisitions. They restructure. How they choose to go to market. How they're winning business. Marya loves all the learning that comes as the market and her clients evolve. [17:45] Marya says they're a wholesaler. Their digital platform will reflect the appetite and eligibility of the technology-enabled carriers that are represented on the RT Specialty platform as trading partners. [18:10] Marya says they have 130 talented binding authority teams across their U.S. platform. They know what their appetite is; they have the binding authority. That's human interaction. [18:28] Marya says RT Specialty mimics that same process with some of the same carrier partners by putting their product-specific appetite on their digital platform. [18:38] The same agent can either go to the RT binding authority underwriter or go through RT Connector. If it fits the appetite of the products on RT Connector, in five minutes, the agent can rate quote, bind, issue, e-deliver policies, surplus lines taxes, and finance premium. [19:02] Marya says she can ask agents how they want to trade the E&S specialty marketplace. There are a lot of paths they can follow that get them to the same place where they win. RT Specialty can put the right resources around that. [19:35] Marya says if a retail client brings a franchise opportunity to RT Specialty, if it's a franchise operation that's insured, RT Specialty will write it. They write lots of them in the U.S. Marya participates in risks her retail clients bring to RT. [19:52] Marya doesn't sell directly to franchises, but RT has a lot of franchises and programs in chains in their book of business. RT has the largest sports and entertainment practice in the wholesale segment in the U.S. It's a tough segment of the marketplace. [20:20] RT Specialty has invested a lot in terms of talent. RT Specialty owns the largest MGU in the marketplace. The sports are professional, amateur, and everything in between. It's a very successful market segment for RT Specialty. [20:41] Marya explains that an MGU is a Managing General Underwriter, which is different from an MGA (a Managing General Agency), which is different from a Program. Marya says this has been one of the fastest-growing segments of the specialty market in the United States. [21:09] Marya says you create a homogeneous appetite for a certain bulk of business, find a carrier partner, set up a Program, and open your storefront and either distribute through retailers or wholesalers. Some are direct-to-insureds [21:30] Managing General Underwriter means that we would create the appetite and the guidelines. Managing General Agent means that the carrier has already defined that, and they're allowing us to put a storefront in front of that. [21:54] That's different from some of the traditional carriers that RT Specialty works with, like Lexington Insurance Company or Westchester Insurance Company. Those are carriers. That is a different solution than when RT Specialty approaches an MGU on behalf of their retail client. [22:18] Marya says anytime you have a lot of people in one place at an event, there are lots of risks associated with that: gun violence, political violence, and means of evacuation response. We have seen that time and again. [22:43] When you have a lot of people congregating for a sporting event, a demonstration, a commemoration, or other event, it's gotten much riskier when you put a lot of humans in one place. That has made that segment of the marketplace much more challenging than ever. [23:10] Marya mentions boxing matches in Vegas or the number of active shooter incidents in Vegas. Marya believes the Excess and Surplus Lines market segment is the permanent home for high-hazard risks in the U.S. It's not an escape valve. [23:42] Marya says that in her lifetime, those types of risks will never swing back to the direct admitted standard carrier side. As a wholesale broker, RT Specialty is looking to partner with carriers that have the right type of appetite to support those risks. [23:59] RT Specialty builds products, so they own MGUs, MGAs, and Programs. They invest and build products when segments of the marketplace become very tough, so they have solutions available through their brokers and underwriters to write any risk in any class of business. [24:19] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The Annual Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [24:37] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. [24:48] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [24:59] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [25:16] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. Earlybird registration is open now. [25:31] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [25:45] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. The deadline for educational content submissions is Friday, June 19th. Get submissions in now. The link is in this episode's show notes. Registration opens in July. [26:08] Let's Return to Our Interview with Marya Propis! [26:32] Justin asks about Marya incorporating workouts into her life so she can perform better as a risk and insurance professional. Justin also feels that he has missed out if he has not exercised or worked out for a certain time each week. [27:03] Mary has 35 years in the business. She travels every week. She flies a lot. She is very focused on her wellness routine. She has been an athlete her whole life, so working out is important to her. So is self-care. [27:34] Having gone through menopause and figuring out what was going sideways, physically and mentally, Marya feels good about where she is today, in her commitment to herself, supplements she takes, and understanding healthy brain function and the effects of hormones. [28:09] Marya says we know hormones have a significant impact on our ability to function, both for men and women. Marya says her lifestyle is not perfect. She eats at restaurants 80% of the time, and entertaining clients involves alcohol. [28:40] Marya loves the relationship-building, social, and personal connection side of the business. She's not going to skip drinks or dinner with anyone. But it's a place where there can be a lot of pitfalls. She doesn't subscribe to an austerity lifestyle. But she has to pick her spots, now. [29:10] Marya says she can't be dragging on Thursday morning. She still has two big days ahead of her to deliver. Marya talks about sleep quality, not just how much you get, which gets tough when you're sleeping in different hotel rooms. [29:35] Marya says, This is the way it is with the career I have chosen, and I love. She has to be much more deliberate and mindful and remind herself that in June, she is traveling 18 days. On the days she's not traveling, she knows what to do for working out and for her wellness routine. [30:24] Marya says she is open and willing to learn. She is open to trying and learning new things. She believes in supplements and vitamins. She takes different ones now than she would have taken a decade ago. You have to be a student of that, like everything else in life. [30:43] Marya says The second you start to lose the desire to learn, what's next? It's not really fun when people's mindsets change. [30:54] Marya has been a Yoga practitioner for 30 years. She does Power Vinyasa in an infrared studio. Marya says the benefits of infrared are scientifically not debatable. She says infrared is great for joints, skin, and healthy brain functioning. It amped up her Yoga routine. [31:15] Marya does TRX bodyweight exercises. Most of the hotel gyms today have a TRX setup. She loves that, since she spends a lot of time in hotels and hotel gyms. Marya does circuit training. She works with heavy weights three times a week to maintain skeletal strength. [31:53] Marya says it sounds like a lot. As an athlete, when you have to perform and deliver, it's part of the way you have to think. It's how Marya thinks. She has to show up and be her best self when she's representing RT Specialty in the marketplace. [32:14] Marya has a lot of people relying on her to be crisp and present with a great level of energy. You can't do that if you're dragging all the time. [32:40] Marya grew up in Buffalo, New York, so she's a skier. It was the first sport for her family. She played tennis in high school and college. She ran track as a sprinter. Her favorite sport is Yoga. A couple of genres of Yoga have world competitions. Mary likes vigorous, athletic Yoga. [33:34] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [34:05] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [34:16] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [34:24] Let's Conclude Our Interview with One of the Two Honorees of the Spencer Educational Foundation's Funding Their Future Gala 2026, Marya Propis! [34:48] Justin asks about associations Marya is plugged into that support empowering women in the risk and insurance industry, such as APIW and WISE. [35:01] Marya represents RT Specialty on two boards. One is CIAB (The Council of Insurance Agents and Brokers), an international organization known for its regulatory and lobbying efforts. [35:25] Marya spent a week in London last month with CIAB. There is so much going on in the London marketplace. That has been a lot of fun and a place to continue to learn. [34:47] The second board is WSIA (Wholesale & Specialty Insurance Association), representing the wholesale specialty segment. There are specialty markets around the world, but the E&S lines market segment only exists in the United States. WSIA is a wonderful organization. [36:14] Marya says that what's great about both CIAB and WSIA is what they do to support young and developing insurance and risk management professionals. It's consistent with and complementary to the work, scope, and mission of the Spencer Educational Foundation. [36:32] Marya loves the way all of that comes together. Marya has been in the space developing, recruiting, and supporting emerging leaders and talent in the insurance and risk management marketplace for a long time. It's a space she loves to be in. [35:56] It all comes together nicely with Marya's board service and her commitments to foundations and causes. [37:10] Justin says the Spencer Funding Their Future Gala will be on Thursday, September 17th, at the world-famous Waldorf Astoria. Marya is one of the two honorees this year. Justin asks what this honor means to Marya. [37:35] Marya can't remember a time when she looked forward to something so much. First, she was surprised, and she feels really humbled. Marya had been a Spencer Board member and Chair of the Board, thinking about whom they would honor, every year for a decade. [38:05] It's really humbling to be considered, let alone this year, going back to the Waldorf Astoria. Marya remembers the Spencer Gala there, at which she spoke as Chair of the Fundraising Committee. [38:22] Marya just about passed out before going on stage, as she had never talked before so many people. She was hyperventilating. She didn't fall off the stage. She enjoyed herself a little bit. The Waldorf Astoria is one of the most storied hotels in the history of New York City. [39:06] Marya says Sierra Signorelli is the other honoree for the Gala. Sierra and Marya worked together early in their careers at AIG. They got a significant start to their careers then. They've known each other for a long time. Marya praises Sierra and is so happy to be doing this with her. [39:32] Justin notes that Sierra is the Zurich U.S. CEO and the Zurich Commercial Insurance CEO. Those are not easy titles to achieve. Zurich is a global insurance carrier. Marya admires Sierra's career trajectory and the leadership influence she has had on so many. [39:51] This is the first time there have been two female honorees in the history of the Spencer Gala. Marya says sharing that honor with Sierra, someone she knows, trusts, and respects so highly, makes it even more special and a night to look forward to. She can't wait! [40:17] Marya is now a Director of Distinction on the Spencer Board. Her RT Specialty colleague, Michael VanAcker, is on the Spencer Board today. Marya mentions that Pat Ryan was honored by Spencer at one of the first Galas. Tim Turner, RT Specialty CEO, introduced Pat that year. [40:53] RT Specialty has had a seat on the Spencer Board for years. Marya is a Director of Distinction as she is a former Board Chair. They ask her to be an advocate where Megan Miller needs her, and to be conversant on where Spencer continues to support and drive results. [41:18] Marya stays in touch and makes sure she knows what is going on with the programs and schools they are partnering with. Her role is to be informed, be an ambassador, and jump in at any place that Megan and the Spencer team would need her to influence, help, and support. [41:41] Marya spoke at the E&S Insurer conference. At the end of the conference, she brought Megan Miller in and introduced her to the writers' folks and asked if they could get a five-minute spotlight on Spencer next year. That is an example of where Marya can try to help. [42:15] Marya says Spencer scholars are so excited about their insurance career. There is nothing more infectious than their enthusiasm for the career path they have chosen. To talk to a young person who has their whole life in front of them is super energizing for Marya. [42:57] Marya says that when a young person wants to talk to her and spend time with her, she thinks it is great. Enthusiasm is infectious. [43:05] At the end of the day, Marya wants to leave the insurance industry in a much better place than it was when she came into the business. Spending time with young people who will be the leaders of our industry in the future, there's no better feeling. [43:30] Marya says that anything she can do to have influence, set an example, or help them think through something helps her to continue to feel wildly enthusiastic about her career. She loves when she gets to spend time with the young brokers and underwriters at RT Specialty. [43:52] Justin says that the scholarship recipients he has seen on stage at the Gala have been so impressive. They're in school, and they're so involved. They're a shining example of what we want the future of this profession to be. [44:10] Marya says that there was no way, when she was 22 years old, that she could have gotten up in front of a room of 800 people in her profession and spoken like that. She would never have been able to do that. Their ability to get up in front of that audience and talk is huge! [44:37] Marya is impressed by what they talk about, in terms of their careers, and what they've learned. [44:42] Marya is delighted that Spencer has basically kept the Gala format consistent. The focus is on the students and the benefits that Spencer funding drives for the industry. [44:56] It's a place where you can see real impact on real lives because of the fundraising dollars that the risk management and insurance industry has stepped up and invested. That's the focus. Then they have dinner. There are two honorees, and they wrap it up. [45:12] Marya loves that they have never complicated the program for Gala. It has kept the focus in the right place, which is what they are doing to fund the future leaders of the insurance and risk management industry. She's excited to meet the Spencer scholars who will speak at the Gala. [45:35] Marya says that lots of times the speakers bring their families. She says her Mom and Dad will be there. That will round out what's going to be a terrific and exciting evening. [45:47] Jason says, We look forward to seeing you there on September 17th at the Waldorf Astoria in New York City. Marya will be there with her old friend Sierra Signorelli. It's going to be a fantastic, tremendous time! The link to the Funding Their Future Gala is in this episode's notes. [46:08] Marya, we're very happy for you. Congratulations again! I can't wait to see you again in September. Marya looks forward to seeing Justin again and the team from RIMS, another long-standing, awesome, successful partnership between Spencer and RIMS. [46:27] Special thanks again to Marya Propis for rejoining us here on RIMScast! We congratulate her again in advance of her receiving the honor at the Spencer Educational Foundation's 2026 Funding Their Future Gala, which will be held on September 17th at the Waldorf Astoria in NYC. [46:47] Visit SpencerEd.org for more information and to purchase your ticket and for sponsorship opportunities. Join us next week, as we will be joined by Spencer Board Chair Johnell Holley. We will learn all about his career journey and risk philosophies. [47:03] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [47:32] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [47:50] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [48:08] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [48:24] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [48:37] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [48:49] Practice good risk management, stay safe, and thank you again for your continued support!   Links: Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026 RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Session Submission Deadline: Friday, June 19 RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Advance Registration Open | Sponsorship Opportunities Available RIMScast on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam | Register Now! 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now! ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute | Look for the Awards Edition in "Digital Issues"! RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! RIMS, the Foundation for Risk Management The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep with PARIMA | July 21‒22, 2026 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: RIMS.org/Webinars "Too Hot To Ignore: Heat-Related Injuries and Workers' Compensation" | July 16 | Presented by Zurich   Related RIMScast Episodes: "Spencer Day 2026 | The Future of Strategic Risk Management" "Risk Management Momentum with Tim Ryan" (2025 Spencer Honoree) "The Strengths of DE&I Initiatives with Lilian Vanvieldt-Gray of Alliant Insurance Services" (2024 Spencer Honoree) "RIMS Honor Roll Inductee Emily Buckley" "RIMS Rising Risk Professional Award Winner Tyler Vaughan"   Sponsored RIMScast Episodes: "48 Hours From a Storm: What to Do Before A Hurricane Strikes" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Marya J. Propis, RT Specialty, President, Retail Distribution   Production and engineering provided by Podfly.  

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews François Beaume about the AMRAE 2026 RMIS Panorama available now and about the RISKWORLD 2026 session that François presented. Justin and François discuss ESG functional coverage. They discuss how François uses AI daily. They discuss the continuing increase in RMIS users, moving RIMS out of the niche tool category into an enterprise governance platform. They discuss the 2026 RMIS Panorama findings, the Panorama database, and how you can access it. Listen for insight into the 2026 RMIS Panorama and how your organization compares.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We are delighted to welcome back to RIMScast AMRAE President François Beaume. He's here to discuss the findings of the 2026 AMRAE RMIS Panorama. We'll talk all about emerging trends. But first… [:48] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Links to registration are in this episode's notes. [1:06] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes. [1:27] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. We want to hear from you. Submit a session proposal by June 19th to reach engaged practitioners, innovators, and leaders looking for guidance they can utilize right away. [1:45] Help define what's next for Enterprise Risk Management. Submit a session proposal by Friday, June 19th. A link is in this episode's show notes. [1:53] Folks, through the generosity of industry partners, RIMS has launched The Foundation for Risk Management™, which provides scholarships for early-career professionals to attend RIMS events like the RIMS Texas Regional Conference, RIMS Canada Conference, and RISKWORLD. [2:11] The Foundation also helps beneficiaries earn their RIMS-CRMP and fund research projects. To learn more or contribute to the Foundation, visit RIMS.org/FRM and visit the link in this episode's show notes. [2:27] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:46] On with the Show! Our guest today is making his third appearance here on RIMScast. He is the Senior Vice President for Risks and Insurance at Sonepar, and he is the President of AMRAE, the Association for the Management of Risks and Insurance in Enterprises. [3:04] François Beaume is here to discuss the 2026 RMIS Panorama, published by AMRAE, in partnership with EY. Panorama is free and publicly available. [3:14] Panorama provides an in-depth look at the organizations and professionals who are using risk management information systems, how well they've adapted, and guidance for those seeking their first or newest framework. It's always great to speak with him. Let's get to it! [3:28] Interview! François Beaume, Welcome Back to RIMScast! [3:36] François has been Chairman at AMRAE for a year and will be for two more years. Because of his role at AMRAE, Justin wanted to have him on the show to speak about this year's RMIS Panorama. [4:04] Justin mentions a difference between last year's RMIS Panorama and this year's RMIS Panorama. Last year, AI felt like an emerging capability. This year's report shows a 20-point jump in planned or actual AI integration and an 8-point increase in functional coverage. [4:19] At the same time, people aren't always happy with AI. The satisfaction part is still a little bit behind. Justin asks, Are we entering a phase where expectations are outpacing execution? [4:32] François says, Yes, probably. AI has moved faster in CEOs' and leaders' minds than in the organization. Everyone wants the data, governance, and skills. Educating the workforce users takes time. The ambition was there, but the "plumbing" is catching up. [5:11] François says that is what is being reflected in the 2026 RMIS Panorama's deep dive on AI. [5:29] François says he uses AI all day long for various things. As a risk manager, he uses it to increase his efficiency and daily productivity. He thinks that is quite common. He says it's also what we need for faster and better analysis. [6:00] Daily analysis from an AI engine using trusted sources is much faster than manual analysis. Now he has the time to tighten it, understand it, and complement it. [6:44] SONEPAR is using it for their benefit and to better spread risk management principles throughout the organization through Helpdesk or Chatbot, allowing people who are less skilled in risk management or insurance to ask questions through the tools to get support. [7:05] Those tools answer almost 90% of the questions. The remaining questions go to the Risk Management team because they are in a gray area. SONEPAR is using AI more and more and is entering a phase where they are looking at automating some risk management processes. [7:33] François says he is looking at automating business partner assessments, a cumbersome and complex process that the Risk Management team is doing with multiple tools. [7:49] Now, they are trying to streamline it, still with humans making the decisions, based on an AI data set that will be faster and easier to produce and much more reliable. [8:24] Justin says one of the more surprising findings in the RMIS Panorama is that ESG Functional Coverage dropped by 15 points this year. François explains why he thinks this is the case. It's not ESG fatigue, but it's in the way companies are approaching ESG. [9:22] François says a lot of ESG features are moved out of risk management information systems into dedicated tools and sometimes into dedicated teams. In the beginning, some ESG features were encapsulated in Risk Management systems. [9:39] François says it's less and less the case, at least in the tools that are sold in Europe. In the U.S., it could be more mixed. Separating ESG from Risk Management is more linked to maturity and topical evolution, rather than fatigue or a decrease in the importance of ESG. [10:06] Justin says the report also suggests that functional coverage overall has stabilized, which Justin asks if that indicates a mature market. François speaks of maturity and breaks down the RMIS Panorama, made from three surveys: Vendors, Risk Managers, and Insurers. [10:43] Maturity is reflected by a mix of these studies. Almost 250 Risk Managers from 36 countries took the survey. They want smarter features, better insight, better connections, and better decisions. They want the tools RMIS is using to be part of the group's way of functioning. [11:27] François says this is not yet the case. The tools are a bit apart and not fully connected with the CRM and other tools. François says they are starting to change. The risk managers using these tools are expecting change to come in the next few years. [11:52] Justin asks if it's easier today for a startup to build from the ground up with their Risk Management Information System embedded in their processes, or for an established organization. François says today it's easier for both, but big groups are more complex. [12:39] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [12:57] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. [13:08] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [13:18] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [13:35] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. Advance registration will open on June 10th. [13:50] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [14:04] The RIMS ERM Conference 2026 will be held on November 18th and 19th in Columbus, Ohio. The deadline for educational content submissions is Friday, June 19th. Get submissions in now. The link is in this episode's show notes. Registration opens in July. [14:27] Let's Return to Our Interview with François Beaume! [14:36] François Beaume presented at RISKWORLD 2026. You can check out the materials from his presentation on RIMS.org/ASC. You will have had to have registered for or attended RISKWORLD 2026 to check it out. We're here to continue the dialog. [15:12] François feels his session went well. There were 50 to 55 people gathered there to listen and take notes. For François, it was pleasant to do. [16:00] François says you have a feeling when you are connecting with an audience. You can see that they are following you, and the message is passing from you to them. [16:51] François says, If you are losing your audience, you can try to use humor. Sometimes you succeed. He tells of a session in a noisy room, where everybody, including himself, was provided with a helmet, to listen to like a podcast. He could not feel if they were getting the message or not. [17:47] When presenting, you try to hold the attention of the room. Justin says that sometimes he locks eyes with somebody who's listening and then talks to that person and hopes that others will pick up on that energy. [18:18] Justin says risk management is not the easiest topic to make exciting. You have to figure out ways to jazz it up a little bit. [18:31] François says if you are convinced that the topic is interesting, that conviction, at a certain point, will pass through the mic and go to the room. If you are not convinced, the public will feel it. Justin says, If you are not excited to present, the audience will not be captivated. [18:58] François notes that he is French and speaks English like a Frenchman, so he has to manage that. His message may not be phrased as the audience expects. The way an American would phrase it is not the way I am using it. Justin stresses listening better to different accents. [19:58] Justin says François is a very good presenter, and the RISKWORLD audience seemed engaged in his message. Justin says if one person walks away with something actionable, it was worthwhile. François says, "Mission accomplished!" [20:23] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [20:43] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [20:58] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [21:09] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [21:17] The Spencer 2026 Funding Their Future Gala will be held on Thursday, September 17th, from 6:30 to 10:00 p.m. at a different venue this year. It will be at the fabulous Waldorf Astoria in New York City. [21:32] Sponsorship opportunities and benefits are available now. A link to the Funding Their Future Gala is in this episode's show notes. [21:40] Next week's guest is the Funding Their Future Gala Honoree, Marya Propis! More Spencer celebrities and board members will be making appearances on RIMScast this summer, as well. [21:53] Let's Conclude Our Interview with François Beaume! [22:09] Justin says the Panorama notes an increase in organizations with more than 200 RMIS users. Does that signal that RMIS is becoming an enterprise-wide infrastructure, or is it still a niche tool for risk teams? [22:26] François says that this is really positive. A Risk Management Information System is not a niche risk tool anymore. It's becoming part of the company infrastructure. [22:44] Once you have hundreds of users, expectations explode, the momentum is there, and user patience drops. As the tool starts to become more massive and interconnected with other tools, you have to manage expectations. The scope of usage of these tools is widening. [23:16] You have not only niche risk usage, but you also have risk management, internal control, insurance, compliance, etc., that are managed inside the tool. The tool reaches all areas of development. The momentum is self-generating. [24:15] François says executive involvement in RMIS usage is positive. Executives want clarity from dashboards. They want to know what matters, why it matters, and what we can do next. They want the deep insight of the tool. They may not go into the tool, but will use the dashboard. [25:10] François speaks of the progress of the techniques of Risk Management Information Systems. Data mining, SaaS contracts, and AI usage have contributed to making RMIS easier to deploy, connect, and access in order to load data, analyze data, and extract data. [26:08] Now is a time of wider usage of Risk Management Information Systems; once they have been adopted, they are there for life, and then you have to make them evolve. [26:21] This means that we have more discussions inside the corporations on RMIS evolutions and replacement. Are we able to make it evolve on its own, or is it time to change? If yes, what kind of process can I depend on to contemplate and manage that change? [26:56] This is executive level. You have created expectations. You have provided dashboards and KPIs, and you have to manage the production. Once it's done, you need a different momentum to run the production and make it better and more accurate over time. It's not easy. [27:40] With their partner EY, AMRAE is finalizing the deployment of the 2026 Panorama Sessions. The French translation will be released by mid-June, and explanation sessions will be run with vendors, risk managers, insurers, and brokers. [28:05] François says AMRAE is already working on the 2027 Panorama, which will be ready for the next RISKWORLD session in New Orleans. [28:27] If someone wants to participate in the Panorama, they need to contact AMRAE. Risk managers will be contacted by the risk management association of the country where they operate. If you are a vendor, you can contact AMRAE. AMRAE contacts insurers and brokers. [29:35] Justin says if you wish to participate, reach out. Go through your risk association where you have membership, like RIMS, FIRMA, or IFRIMA. The confidential information collected helps educate the global risk community. This Panorama is very important for us. [30:08] François says that inside the Panorama, all the contact details are available. As part of the panel, you have access to an online data form. The Panorama has a PDF version, a snapshot of what's in the database. The full database is accessible to anyone. [30:27] François says that as a risk manager or a vendor, you can run your own analysis by filtering and sorting the Panorama database. [30:45] Justin says that's the nice thing about it: AMRAE has made it complimentary and is broadening the horizons of the global risk community by doing so. [30:57] Justin says, I do miss recording with you in person. So, next year, hopefully we get a chance to see each other and have some Cajun food, put the mic up, and eat some jambalaya and talk. It will be great. I want to thank you again, and you're welcome back any time. [31:17] Special thanks again to François Beaume for joining us here on RIMScast! We look forward to seeing him at a future RIMS event. You can visit AMRAE.fr to access the free and publicly available RMIS Panorama 2026. [31:34] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [32:03] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [32:21] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [32:39] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [32:55] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [33:09] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [33:21] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Session Submission Deadline: Friday, June 19 RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Registration Opens June 10 RIMScast on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam | Register Now! 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now! ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute | Look for the Awards Edition in "Digital Issues"! RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! RIMS, the Foundation for Risk Management The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy RISKWORLD 2026 Presentations Available via Attendee Service Center — www.RIMS.org/Asc - and via the RIMS Events App RMIS Panorama: https://www.amrae.fr/bibliotheque-de-amrae/2026-rmis-panorama Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep with PARIMA | July 21‒22, 2026 RIMS-CRMP-FED Exam Prep with AFERM | June 16‒17, 2026 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: RIMS.org/Webinars   Related RIMScast Episodes: "Strategy and Change with Ward Ching and Aaron Olson" "Live from RISKWORLD 2026!" "The Evolving Role of the Risk Analyst" "AI and the Future of Risk with Dan Chuparkoff" "Live from RISKWORLD 2025" "AI Risks and Compliance with Chris Maguire"   Sponsored RIMScast Episodes: "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL 'Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against an Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: François Beaume, SVP Risks and Insurance, Sonepar President of AMRAE   Production and engineering provided by Podfly.

The right lighting can transform a space—from how it feels to how it functions—and behind every smart system is someone who understands both the technical side and the relationship side of the business. Our guest today is Kenny Barnes, General Manager of FRM Lighting & Controls, based right here in Charlotte. FRM has been a leader in the electrical industry since 1969, and in 2024 they launched FRM Lighting & Controls to bring that same experience and reliability to the lighting and controls market across the Carolinas and Florida. Kenny is at the helm of this new division, building the team, deepening partnerships with contractors and manufacturers, and helping clients navigate a fast-evolving world of energy codes, controls, and design. Today we're talking with Kenny about launching and growing a new division inside an established company, what's changing in the lighting and controls world, and how strong partnerships can make or break a project. Kenny, welcome to this episode of the award-winning BrandBuilders Podcast.

เม็ดเงิน Grid ใหญ่กว่า GDP ไทย 10 เท่า โอกาสลงทุนยุค AI ? | Talk ลงทุนแมน มนุษย์ใช้ AI มากขึ้นอย่างก้าวกระโดด ส่งผลให้โลกมีความต้องการไฟฟ้า สำหรับใช้ในการประมวลผล AI ที่พุ่งสูงมากขึ้นเรื่อย ๆ แต่โครงสร้างพื้นฐาน “ระบบโครงข่ายไฟฟ้า” ส่วนใหญ่ของโลก ไม่เคยรองรับความต้องการไฟฟ้าระดับสูงขนาดนี้มาก่อน โดยในเดือนมีนาคม 2026 J.P. Morgan วิเคราะห์ว่า โลกต้องใช้เม็ดเงินกว่า 5.8 ล้านล้านดอลลาร์สหรัฐ หรือประมาณ 189 ล้านล้านบาท เพื่อพัฒนาระบบโครงข่ายไฟฟ้า หรือ Grid ตั้งแต่ช่วงปี 2026-2035 ซึ่งมูลค่านี้ มากกว่า GDP ไทยถึง 10 เท่า เม็ดเงินที่มหาศาลเหล่านี้จะเป็นโอกาส ของการเข้าไปลงทุนใน Grid ได้อย่างไร ? ความเสี่ยงอะไรที่ต้องติดตาม ? และอนาคต AI จะถูกชี้ชะตาโดย Grid หรือไม่ ? ร่วมวิเคราะห์ไปกับ ดร.ณัทกฤช อภิภูชยะกุล นักวิชาการด้านพลังงาน และวิเคราะห์การลงทุน กับคุณเบญจพร เลิศเศรษฐศาสตร์ CFA, FRM ผู้อำนวยการอาวุโส ฝ่ายการลงทุนต่างประเทศ บลจ. แลนด์ แอนด์ เฮ้าส์

เกาะติดสถานการณ์ 4 หน่วยงานรัฐแถลงผลจับกุมขบวนการกักตุนน้ำมัน โดย DSI เร่งสอบสวน 6 โรงกลั่น หลังพบมูลความผิด ปมเอกสารไม่ครบ รายละเอียดเป็นอย่างไรวิเคราะห์เมกะดีลการค้าสหรัฐฯ - จีน จะส่งผลต่อธุรกิจที่เกี่ยวข้องอย่างไร ธุรกิจไหนได้-เสียประโยชน์ พูดคุยกับ  พูดคุยกับ ชาตรี โรจนอาภา CFA, FRM หัวหน้าทีมที่ปรึกษาการลงทุน SCB CIO ธนาคารไทยพาณิชย์

The private credit landscape stands at a critical juncture amid rising technical defaults, restructurings, and redemption pressures. Our guest, Luca Blasi, draws on his unique experience in valuation, banking, and regulatory oversight, our industry expert observes parallels with the rapid growth, compressed risk premia, weaker underwriting discipline, and opaque pricing prevalent in the pre-GFC era, but highlights a key difference: today's capital is largely held by longer-horizon investors like pensions and insurers rather than highly leveraged banks. Luca analyzes potential spillover effects from private equity's current slower exits, echoes a clear need for better data standards and benchmarks in assessing risks, and makes a compelling case in reinforcing why defensible valuations depend on consistent methodology, transparent assumptions, and strong governance.  Key takeaways: •    Current long(er) horizon investor base is a key difference with pre-GFC environment  •    Difficulty in verifying underwriting quality necessitates looking beyond headline defaults •    Limited benchmarks and transaction data make valuations subjective and less comparable •    Strong governance demands independence, documentation, and timely valuations Guest:  Luca Blasi, PhD, FRM, Managing Director and Head of Private Markets Valuations and Regulatory Solutions, S&P Global Host: Howard Mah-Lee, ABV, CFA, CAIA Senior Manager, AICPA Valuation Services Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Please share your thoughts about the episode -  click here to leave us a review   Want to get involved with future FVS conferences, committees and advisory groups, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com     RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links.  Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies Assets Acquired to Be Used in Research and Development Activities - Accounting and Valuation Guide Exclusive content available with AICPA FVS Section membership:  Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies The FVS Valuation Podcast archives Current Trends In Private Credit Markets 409A Valuations – What you Need to Know Libsyn Five | Financial Instrument Valuation Series: SAFEs, Convertible Notes, and Embedded Derivatives LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) –  Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) –  Visit the home page , the alternative investment valuation resource and community page , and check out the CVFI infographic Certified in Financial Forensics (CFF®) -  Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com  

The private credit landscape stands at a critical juncture amid rising technical defaults, restructurings, and redemption pressures. Our guest, Luca Blasi, draws on his unique experience in valuation, banking, and regulatory oversight, our industry expert observes parallels with the rapid growth, compressed risk premia, weaker underwriting discipline, and opaque pricing prevalent in the pre-GFC era, but highlights a key difference: today's capital is largely held by longer-horizon investors like pensions and insurers rather than highly leveraged banks. Luca analyzes potential spillover effects from private equity's current slower exits, echoes a clear need for better data standards and benchmarks in assessing risks, and makes a compelling case in reinforcing why defensible valuations depend on consistent methodology, transparent assumptions, and strong governance.  Key takeaways: •    Current long(er) horizon investor base is a key difference with pre-GFC environment  •    Difficulty in verifying underwriting quality necessitates looking beyond headline defaults •    Limited benchmarks and transaction data make valuations subjective and less comparable •    Strong governance demands independence, documentation, and timely valuations Guest:  Luca Blasi, PhD, FRM, Managing Director and Head of Private Markets Valuations and Regulatory Solutions, S&P Global Host: Howard Mah-Lee, ABV, CFA, CAIA Senior Manager, AICPA Valuation Services Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Please share your thoughts about the episode -  click here to leave us a review   Want to get involved with future FVS conferences, committees and advisory groups, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com     RESOURCES FOR FURTHER EXPLORATION If you're using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links.  Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies Assets Acquired to Be Used in Research and Development Activities - Accounting and Valuation Guide Exclusive content available with AICPA FVS Section membership:  Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content Valuation of Privately Held Companies Equity Securities Issued as Compensation Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies The FVS Valuation Podcast archives Current Trends In Private Credit Markets 409A Valuations – What you Need to Know Libsyn Five | Financial Instrument Valuation Series: SAFEs, Convertible Notes, and Embedded Derivatives LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS: Accredited in Business Valuation (ABV®) –  Visit the home page and check out the ABV infographic Certified in the Valuation of Financial Instruments (CVFI®) –  Visit the home page , the alternative investment valuation resource and community page , and check out the CVFI infographic Certified in Financial Forensics (CFF®) -  Visit the home page and check out the CFF infographic This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at podcast@aicpa-cima.com  

คุยกับ ‘เอกนัฏ พร้อมพันธุ์' รัฐมนตรีว่าการกระทรวงพลังงาน งัดกฎหมาย สั่งหั่นราคาน้ำมันหน้าโรงกลั่น แก้น้ำมันแพง รายละเอียดเป็นอย่างไรวิกฤต Supply Chain โลก ซ้อนวิกฤตพลังงานโลก สินทรัพย์ไหนได้ หรือเสีย ประโยชน์ พูดคุยกับ ชาตรี โรจนอาภา CFA, FRM หัวหน้าทีมที่ปรึกษาการลงทุน SCB CIO ธนาคารไทยพาณิชย์

United Kingdom, Accenture, American Express, ESOS, EY, Four Seasons Hotels, Google, NBC Universal  are his clientsFrm Royal Air Force Senior Officer, Frm. International Negotiator for the UK Government,  executive coach. Google, Accenture, American Express His first book, 'Find Your Why: A Practical Guide for Discovering Purpose for You and Your Team', co-authored with Simon Sinek and David Mead. Peter gets up every day inspired to enable people to be extraordinary so that they can do extraordinary things. Collaborating with Simon Sinek for over 7 years, he was a founding Igniter and Implementation Specialist on the Start With Why team, teaching leaders and companies how to use the concept of Why."The first step is to distinguish leadership from management. “Management is about handling complexity,” explains Docker, while “leadership is about creating simplicity. It's about cutting through the noise, identifying what's really important, making it personal for people, bringing them together and connecting them.”  ~  Peter Docker in Venteur Magazine January 2023One of Peter's latest books, 'Leading from The Jumpseat: How to Create Extraordinary Opportunities by Handing Over Control'Peter's commercial and industry experience has been at the most senior levels in sectors including oil & gas, construction, mining, pharmaceuticals, banking, television, film, media, manufacturing and services - across more than 90 countries. His career has spanned professional pilot; leading an aviation training and standards organisation; teaching post-graduates at an international college; and running multi-billion dollar procurement projects. A former Royal Air Force senior officer, he has been a Force Commander during combat flying operations and has seen service across the world. He is a seasoned crisis manager, a former international negotiator for the UK Government and executive coach.© 2026 Building Abundant Success!!2026 All Rights ReservedJoin Me on ~ iHeart Media @ https://tinyurl.com/iHeartBASSpot Me on Spotify: https://tinyurl.com/yxuy23bAmazon Music ~ https://tinyurl.com/AmzBASAudacy:  https://tinyurl.com/BASAud

Economic HeadlinesThe economic narrative has shifted from "gradual recovery" to "geopolitical volatility" as conflict in the Middle East continues to dictate the pace of inflation and interest rates. For multifamily operators, the immediate impact remains the "inflation tax" on renters' wallets, weaker job creation, and the subsequent effect on 2026 occupancy and rent growth.· Energy Volatility: After a volatile week, Brent Crude oil climbed back above $106/bbl this morning as hopes for an immediate ceasefire in the Middle East faded. While the national gasoline average has finally plateaued at $3.98/gal—marking its first daily decline this month—consumers are still grappling with prices roughly $1.00 higher than they were 30 days ago.· Capital Markets: Markets remain under pressure, with the S&P 500 down 5% and the Dow down nearly 6% from late February highs. Investors are increasingly defensive as "stagflation" fears move to the forefront, driven by a combination of high energy costs, sticky inflation, and a cooling labor market.· Mortgage Rates: The 30-year fixed-rate mortgage (FRM) has jumped to 6.49% according to Bankrate, its highest level of 2026. While the lack of affordability in the owner-housing market boosts renter demand, the overall impact is a drag on the economy.Explore our webpage for more insights and resources:https://bit.ly/Radix_Website

What happens when governments can't fund infrastructure anymore? A $1.6 trillion private asset class that doesn't recognize itself in the mirror. In the 2020s, infrastructure has entered a battlefield where geopolitics, government agendas, and investor returns collide. We trace infrastructure's evolution from nation-building mechanism to one of the most integrated asset classes in modern investing. In this episode, we explore a central tension: is infrastructure still a stable, boring, income-generating asset, or has it become a bigger bet on which governments can actually execute their vision? Joined by Peter Blue of Franklin Templeton and Gautam Bhandari of I Squared, we dive into one of the oldest asset classes in human history.Guests:Peter Blue, CFA, CAIA, FRM, Head of Private Market Solutions, Franklin TempletonGautam Bhandari, Co-Founder & Managing Partner, I Squared CapitalEpisode Sources(00:00) Infrastructure as an invisible but essential backbone of daily life and economic activity.(01:24)Introduction to infrastructure as a paradox: ancient in practice, modern as an institutional asset class.(03:43) The projected $100 trillion global infrastructure investment need through 2040 and the funding gap.(06:06) Infrastructure allocations remain modest despite structural tailwinds and capital demand.(10:32) Infrastructure as both inanimate and “alive” through its system-wide economic impact.(12:04) Roman publicani as early private infrastructure investors and the blending of public and private capital.(16:24) Infrastructure historically used as a tool of statecraft, control, and regime stability.(20:35) The Gilded Age, robber barons, and the rise of private capital in U.S. infrastructure development.(24:50) Australia's superannuation system and privatization wave as the birthplace of institutional infrastructure investing.(27:52) Macquarie's listed infrastructure vehicles and the financialization of the asset class.(29:43) The contrast between Australia's GP-led model and Canada's direct “Canadian model.”(35:49) Post-GFC surge in infrastructure AUM and its appeal as a stable, inflation-linked asset class.(41:59) “Suffering from success”: record fundraising, rising valuations, and expanding risk profiles in the 2020s.(42:20) Redefining infrastructure through resiliency rather than rigid asset definitions.(46:17) Expansion into digital infrastructure, renewables, and social infrastructure beyond traditional core assets.(50:52) Data centers as the new “highways” of productivity and the complexities of underwriting digital infrastructure.(55:32) Energy transition investing and the scale of renewable and grid infrastructure needs.(57:43) Talent evolution and systems thinking as infrastructure becomes increasingly cross-disciplinary.(01:01:18) The re-politicization of infrastructure and its return as a strategic instrument of global power.(01:05:58) China's Belt and Road Initiative and infrastructure as influence diplomacy.(01:10:46) Local alignment, commercial contracts, and operating “below the radar” in politically sensitive environments 

We're diving deep into the world of iconic album cover art with our special guest, Frm. Elektra Records Art Director Bob Heimall.  A name behind some of the most memorable visuals in music history. From his humble beginnings at Elektra Records in the late 1960s to becoming the youngest art director in the business, Bob Heimall's creativity has graced records by legends like Carly Simon, Jim Croce, The Doors, Bread, Iggy Pop, and even Yoko Ono.You'll hear Bob Heimall share personal stories, like joining Jim Morrison, Jimi Hendrix, and Janis Joplin for an unforgettable moment in a New York penthouse, rubbing elbows with rock royalty, working with Carly Simon while she breastfed her son, and being the sole audience for Jim Croce's final album performance just two weeks before tragedy struck. He'll reveal behind-the-scenes anecdotes about album art decisions—some even leading to legendary band debates—describe the step-by-step design process before Photoshop, and recount the emotional impact these collaborations left on him.Plus, Bob Heimall discusses the cutthroat world of record labels, his transition from Elektra to Arista under Clive Davis, and reflects on the vital role music—and its packaging—plays in shaping our memories. Whether you're a vinyl enthusiast, design lover, or music history buff, this episode is packed with untold stories, industry insights, and the passion that goes into creating the artwork we all grew up with.(0:00) "Starting at Elektra Records"(4:14) "Music Legends at the Hilton"(9:14) "Redefining Album Cover Art"(11:45) "Early Album Cover Design Process"(15:41) Carly's Jingles and Brother(18:19) "Unplanned Success, Captured Moment"(22:04) "Music, Photos, and Choices"24:39 "Following the Music"(28:45) "Rejected Naked Silhouette Cover"(30:17) "Innovative Multi-Fold Album Design"(33:30) "Reflecting on Jim Croce's Death"(38:13) "Asthma, Draft Exception, Jersey Shore"(41:40) "QuadSound and Career Transition"(43:59) "High-Stakes Creative Meetings"(46:15) "Jack's Artistic Integrity Struggle"(48:45) "Pool Nights in the Office"(53:56) "The Band's Big Pink Album Cover Story"(56:19) "The Doors Strange Days Album Cover Controversy"(59:19) "Cover Stories Book"You can download or stream every episode of AIRCHECK from Apple Podcasts, and Spotify. You can also listen on YouTube. Ask your Smart Speaker to “Play Aircheck Podcast”.If you're a radio vet with a story to tell we want to hear from you.Email us at Aircheckme@gmail.comFollow us on Facebook: facebook.com/aircheckmeTell us what you think and your favorite episode!

Accenture, American Express, ASOS, EY, Four Seasons Hotels, Google, NBC Universal  are his clientsFrm Royal Air Force Senior Officer, Frm. International Negotiator for the UK Government,  executive coach. Google, Accenture, American Express His first book, 'Find Your Why: A Practical Guide for Discovering Purpose for You and Your Team', co-authored with Simon Sinek and David Mead. Peter gets up every day inspired to enable people to be extraordinary so that they can do extraordinary things. Collaborating with Simon Sinek for over 7 years, he was a founding Igniter and Implementation Specialist on the Start With Why team, teaching leaders and companies how to use the concept of Why."The first step is to distinguish leadership from management. “Management is about handling complexity,” explains Docker, while “leadership is about creating simplicity. It's about cutting through the noise, identifying what's really important, making it personal for people, bringing them together and connecting them.”  ~  Peter Docker in Venteur Magazine January 2023One of Peter's latest books, 'Leading from The Jumpseat: How to Create Extraordinary Opportunities by Handing Over Control'Peter's commercial and industry experience has been at the most senior levels in sectors including oil & gas, construction, mining, pharmaceuticals, banking, television, film, media, manufacturing and services - across more than 90 countries. His career has spanned professional pilot; leading an aviation training and standards organisation; teaching post-graduates at an international college; and running multi-billion dollar procurement projects. A former Royal Air Force senior officer, he has been a Force Commander during combat flying operations and has seen service across the world. He is a seasoned crisis manager, a former international negotiator for the UK Government and executive coach.© 2026 Building Abundant Success!!2026 All Rights ReservedJoin Me on ~ iHeart Media @ https://tinyurl.com/iHeartBASSpot Me on Spotify: https://tinyurl.com/yxuy23bAmazon Music ~ https://tinyurl.com/AmzBASAudacy:  https://tinyurl.com/BASAud

Greetings, and welcome back to the podcast. This episode, we are joined by Mr. Manuj Nikhanj - CEO of Enverus - a private energy-focused software and data analytics company with revenues of ~$1 billion. Before joining Enverus, Manuj was co-President and co-CEO of RS Energy Group. Over the last 17 years he has completed several hundred evaluations of public and private producers, plays and assets. Manuj has served as a trusted advisor for multiple company boards and executive teams around strategy and execution on new and existing assets. Prior to RS Energy Group, Manuj was Co-Head of Energy Research at ITG, which in 2011 acquired the Ross Smith Energy Group where Manuj was a partner. He obtained his Bachelor of Commerce degree (with distinction) from the University of Calgary and is a CFA and FRM charterholder.Among other things we learned about Enverus Origins, A.I. Growth & Why Power Demand is Rising.Enjoy.Thank you to our sponsors.Without their support this episode would not be possible:Connate Water SolutionsATB Capital MarketsEPACAstro Oilfield Rentals AmbyintBunch ProjectsSupport the show

Season 5, episodio 12. Hoy tocaba capítulo exclusivo para mecenas, pero cuando llega una entrevista así… se mueve todo.Tras las charlas con Daniel Escaño y Rubén Espinosa seguimos en la misma línea: nutrición, fuerza, entrenamiento físico y, esta semana, el elemento que casi todos olvidan. La cabeza.Hoy nos visita uno de los grandes pioneros del mountain bike europeo. Un corredor que marcó una época en el XC internacional. Ganador de la Copa de Europa en 2001, diez años en la Selección Italiana Elite, siete podios en los Campeonatos de Italia y uno de los responsables de introducir la rueda 29 pulgadas en el mundo del racing europeo en 2011. También fue quien desarrolló el primer aro de 30 milímetros de canal para XC, un estándar que hoy usa toda la industria.Tras su etapa como atleta se convirtió en responsable técnico y desarrollador de producto en FRM y más tarde consultor para marcas que buscaban innovación real. Y ahora dirige Piraz Coaching Academy, la primera academia online dedicada en exclusiva a MTB y e-MTB, donde une metodología deportiva, técnica de pilotaje y entrenamiento mental con un objetivo: sacar la mejor versión del ciclista.En esta entrevista repasamos su trayectoria, su visión del material, el proceso de pasar de atleta a coach y entramos a fondo en lo que más nos interesa. El trabajo mental aplicado al ciclismo.Cómo gestionar la presión previa a una carrera. Cómo reconstruir la confianza tras una caída o una mala racha. Qué errores mentales cometen la mayoría de ciclistas amateur. Cómo entrenar la cabeza cuando no se tiene mucho tiempo. Y por qué la técnica también es un entrenamiento mental.Una conversación honesta, práctica y muy útil para cualquier ciclista que quiera competir mejor, entrenar mejor o simplemente disfrutar más de la bici.Además del invitado, repasamos nuestras movidas habituales:Las Hoka nuevas de Charly, el camión de Shimano que nos ha llegado al estudio con material tope de gama, todo lo que viene en el calendario de carreras, la FarWest con sus novedades UCI, y las historias de la comunidad en Vuestras Mierdas.Cerramos con DestinoCape: ya tenemos vuelos a Sudáfrica para la Cape Epic gracias a SolJet Viajes. Doce horas de viaje, trece personas y Emirates de por medio. Se viene aventura.Si te interesa el trabajo mental, la evolución del MTB o simplemente te apetece aprender de alguien que ha estado arriba del todo y que ahora ayuda a otros a llegar, este episodio te va a gustar.Puedes seguir al invitado aquí:Instagram de Mirko Pirazzoli: https://www.instagram.com/mirkopirazzoli/Nos escuchamos dentro.

In this KE Report Daily Editorial, we're joined by TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot, to break down the broad market rebound following the U.S. government shutdown and where traders should look for confirmation of lasting strength. Key Discussion Highlights: Liquidity Rebound: Government reopening releases cash back into markets, fueling “risk-on” buying. Technical Confirmation Needed: TG expects retests of key supports before declaring a true reversal. Chart Setup Tips: Watch the 8 EMA, 21 EMA, and hourly 50 SMA for uptrend confirmation. Metals Cooling Off: Gold, silver, and miners may need time to consolidate after sharp rallies. Crypto Strength: Ethereum, Bitcoin, Solana, and BMNR showing early institutional accumulation. Stocks in Focus: TG highlights A FRM, SKLT, GRAB, Tesla, and Robinhood as setups with potential. Click here to visit TG's site - Profit Pilot - https://www.profit-pilot.com/ -------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

On this episode of FRM, The "Butt" Jim Molineaux and Ref Nick are unavailable. So, Freland and his fellow wrestling comrad Josh "Cowboy" Woodward are holding down the show. This week they discuss the John Cena retirement tour, Cody Rhodes as the face of WWE, TKO, AEW and much more!

– The RIA Podcast with Seth Greene Episode 226 Brett Meyer The future of small cap investment is in active ETFs—and Toll & Co. is at the forefront. Brett Meyer, CFA, FRM, Head of Capital Formation at Towle & Co., explores the firm's small-cap value strategy. With over 43 years of success, Toll & Co. focuses on undervalued, cyclical companies, using a disciplined approach that makes it a unique player in the investment world. Brett shares how their strategy fits into clients' portfolios and the firm's recent foray into active ETFs, which aims to enhance investment opportunities.Listen to this insightful RIA episode with Brett Meyer about how Small Cap strategy can complement your portfolio.Here is what to expect on this week's show: The unique small cap value strategy that Toll & Co. has run for over 43 years The growing role of active ETFs in investment strategies Why small cap and value strategies may be set to make a comeback The differences between ETFs, model delivery programs, and separately managed accounts The importance of understanding investor preferences and evolving trends like ESG Connect with Brett:Links Mentioned:Website: https://www.towleco.com/ Towle ETFs: https://www.towleetfs.com/ Guest Contact Info: LinkedIn: https://www.linkedin.com/in/brett-meyer-cfa-frm-b612461/ Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, is joined by Frank Melaccio, CFA, CPA, FRM, Vice President, Finance and Treasurer at Horizon Blue Cross Blue Shield of New Jersey, and Jason Young, Head of U.S. Corporate Private Placements and Private Structured Credit at MetLife Investment Management (MIM). The discussion explores the evolving role of investment-grade private credit and asset-based finance (ABF) in health insurance investment portfolios. Both guests share their career journeys, personal anecdotes, and their perspectives on strategic asset allocation within the unique cash flow structures of health insurers.   Together, they dive into the diversification benefits, relative value opportunities, and liquidity considerations of IG private placements and ABF. Frank offers insights into how health insurers manage illiquidity risk while optimizing return on capital, and Jason sheds light on how the ABF market has matured with shorter durations and more investor interest. This episode is packed with expert perspectives on credit market dynamics, the future of private fixed income, and how health insurers can better position their portfolios in today's rapidly changing environment.

Charlie Marlow discusses the latest breaking news in the #NASCAR lawsuit as NASCAR is reportedly willing to settle with 23XI Racing & FRM according to Adam Stern.#nascar #racing

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Gwenn Cujdik, the Incident Response and Cyber Services Lead for North America at AXA XL. Justin and Gwenn cover various cybersecurity topics, and how her 15 years as an Assistant District Attorney prepared her for her current role of responding to cyber attacks. Listen for tips on securing your organization, large or small, from cyber attacks and responding when, not if, they come. Gwenn shares her experiences and some advice.   Listen for Gwenn's insights to help you be vigilant and prepared against cybercrime.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] With great sadness, the RIMS family lost a true leader in September. Susan Meltzer was an exceptional risk professional and passionate volunteer with RIMS. She served as the Society's President in 1999 and 2000. [:29] RIMS has established a scholarship fund in her name. You can donate to that fund through RIMS, The Foundation for Risk Management®, at RIMS.org/FRM. [:46] About this episode of RIMScast. This is our National Cybersecurity Awareness Month episode. Here to lend her insight on all things cyber is Gwenn Cujdik. She is the Incident Response and Cyber Services Lead for North America at AXA XL. [1:19] We're also going to talk about her fascinating career that antedates her time in cyber. [1:24] RIMS-CRMP Prep Workshops! The next RIMS CRMP Prep Workshops will be held on October 29th and 30th and led by John Button. [1:36] The next RIMS-CRMP-FED Virtual Workshop will be held on November 11th and 12th and led by Joseph Mayo. Links to these courses can be found through the Certifications page of RIMS.org and through this episode's show notes. [1:53] RIMS Virtual Workshops! RIMS has launched a new course, “Intro to ERM for Senior Leaders.” It will be held again on November 4th and 5th and will be led by Elise Farnham. [2:07] On November 11th and 12th, Chris Hansen will lead “Fundamentals of Insurance”. It features everything you've always wanted to know about insurance but were afraid to ask. Fear not; ask Chris Hansen! RIMS members always enjoy deep discounts on virtual workshops! [2:26] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [2:37] Several RIMS Webinars are being hosted this Fall. On October 9th, Global Risk Consultants returns to deliver “Natural Hazards: A Data-Driven Guide to Improving Resilience and Risk Financing Outcomes”. [2:51] On October 16th, Zurich returns to deliver “Jury Dynamics: How Juries Shape Today's Legal Landscape”. On October 30th, Swiss Re will present “Parametric Insurance: Providing Financial Certainty in Uncertain Times”. [3:08] On November 6th, HUB will present “Geopolitical Whiplash — Building Resilient Global Risk Programs in an Unstable World”. Register at RIMS.org/Webinars. [3:20] On with the show! It's National Cybersecurity Awareness Month here in the U.S. and in many places around the world. Cyber continues to be a top risk among organizations of all sizes in the public and private sectors. [3:35] Joining me today to discuss cybersecurity awareness is Gwenn Cujdik. You may remember her from the RIMS AXA XL webinar on September 4th, “Lock Down & Level Up.” [3:52] During that webinar, we had a brief, fascinating discussion about her time as an Assistant District Attorney in Pennsylvania. [4:01] I wanted to learn more about how someone transitions from a colorful career to cybersecurity and eventually becomes the Incident Response and Cyber Services Lead for North America at AXA XL. [4:15]  She's got a lot on her plate. She's got a huge risk radar. We're going to talk all about it and help all the risk managers out there use her insight and perspective to protect their organizations. Let's get to it! [4:28] Interview! Gwenn Cujdik, welcome to RIMScast! [5:09] Gwenn is Incident Response and Cyber Services Lead for North America at AXA XL. When a client has a cyber breach, they call AXA XL and work with Gwenn's teams. [5:42] Gwenn works on training her teams to be able to respond, setting up procedures and processes to make the response seamless and collaborative, and making sure the clients get consistent service, whoever handles the call. [6:16] Gwen's team has 18. Four are in leadership with 14 more team members. Two managers directly supervise the teams to help them with answers to questions about unusual situations. [6:50] Gwenn helps the teams understand massive events and how they might affect AXA XL and their clients, how to interact with brokers, and technical matters. She helps the team understand coverages when it comes to something unique. “It's all hands on deck for us!” [7:55] Gwenn says, Fighting crime is a part of who I am. She is driven by helping others get through some terrible times. She has seen the worst of the worst. Sometimes it takes just one helping hand to get people through tough times. She has seen how impactful that can be. [8:44] Sometimes, in a crisis, how people interact with the victim could be the recipe for them to recover fully from that event. Gwenn has seen people recover, take back their lives, move forward, and be survivors. She has seen corporations and companies do so and become better. [9:39] Justin repeats that Gwenn has seen the worst of the worst: homicides, murders, abuses of women and children, arson, and more. She has seen it all, including things that she wishes she hadn't seen. [10:27] Gwenn compares cyber incident response to her ADA work. A prosecutor has to be able to handle things under pressure. The best prosecutors are looking to do the right thing. Gwenn has met many people who, absent the crime, would have been friends. [11:06] You have to be able to see there's a human on the other side, and there are humans that they hurt. You do right by understanding that there are a lot of players involved, who are humans. [11:26] It helps you understand where somebody might be coming from. It helps you understand why they might be screaming at you. “I'm just the messenger, but let's talk about why you're so upset.” [11:39] Gwenn says one of the cool things about being a prosecutor is that every case you have presents a different set of facts and circumstances. There's a law that's intertwined with it, and that's interesting for Gwenn. [11:54] The first time Gwenn had an arson case, she had to work with the Fire Marshals to understand how they knew the fire started here. How did they know it was a chemical? She started with the Fire Marshals and then went to the crime scene to talk to Forensic Chemists. [12:11] The Forensic Investigators explained the chemistry behind the Molotov Cocktail that was thrown through the window. This was how the fire started, and then it enveloped the room. [12:22] When Gwenn first worked with DNA, she found it to be incredibly complicated. She had to learn it to be able to explain it. Her job was to explain to 12 people why DNA mattered, why it's this guy, and not anybody else, that committed this crime; the numbers are insane. [12:44] It could be one in a hundred quadrillion that it's another person. Those numbers are insane, and it's really hard to understand. [12:56] Gwenn was in the DA's office when cell site analysis came around; being able to triangulate where someone is, using cell towers. The Philadelphia Field Office had one of the pioneers in that science. Gwenn learned from him. [13:13] One of Gwenn's matters was a homicide. They tracked the defendant from the scene of the crime, through public transportation, back to his house, using cell site triangulation. While they were mapping, the actor Joe Piscopo came by, touring the building. Gwenn was an SNL fan. [14:23] Gwenn's prosecutorial experience translates to cyber in that each matter is a little different. There's a bad guy at the other end. Gwenn is not sympathetic to the bad guys because they are anonymous. Nobody sees them or knows them. It's usually a criminal enterprise. [14:59] It's a group of people working together, motivated by money and wreaking havoc on people who are trying to make a living and support their families. The bad guys want to extort millions of dollars and put businesses and livelihoods in danger. [15:42] In Philadelphia, the elite of the elite prosecutors worked in homicide. Some spend 20 or 30 years there. Gwenn was an ADA for 15 years, but couldn't see herself doing it for 20 or 30 years. She wanted to stay positive and be a force for good when she was dealing with bad. [16:34] She wondered where she could go to have a similar impact for good, investigating, and helping people get through an awful time. [16:45] Gwenn had a friend who worked with her in the Family Violence and Sexual Assault Unit. She had left the office to work for a new law firm doing cyber incident response. She called Gwenn and said she would be really good at it. She explained it to Gwenn. [17:50] Gwenn interviewed with the firm and got an offer the day she interviewed. She realized that was what she wanted to do. Some former prosecutors were doing it. There were some amazing people, and she wanted to be a part of that, something new, interesting, and growing. [18:15] Gwenn wanted to be challenged and get to help people. Once she discovered it, she couldn't think of a better transition for people who are in law enforcement than going into cybersecurity. [18:39] RIMS Events! On November 17th and 18th, join us in Seattle, Washington, for the RIMS ERM Conference 2025. The agenda is live. Check out Episode 357 for Justin's dialogue with ERM Conference Keynote Presenter Dan Chuparkoff on AI and the future of risk. [18:59] Visit the Events page of RIMS.org to register. [19:02] RISKWORLD 2026 will be in Philadelphia, Pennsylvania, from May 3rd through May 6th. RIMS members can now lock in the 2025 rate for a full conference pass to RISKWORLD 2026 when you register by October 30th! [19:16] This also lets you enjoy earlier access to the RISKWORLD hotel block. Register by October 30th, and you will also be entered to win a $500 raffle! Do not miss out on this chance to plan and score some of these extra perks! [19:30] The members-only registration link is in this episode's show notes. If you are not yet a member, this is the time to join us! Visit RIMS.org/Membership and build your network with us here at RIMS! [19:42] Let's return to our interview with Gwenn Cujdik! [20:14] Gwenn says cybersecurity takes a village. What she learned in criminal prosecution is that as long as there have been humans, there has been crime. We're fortunate as a society to have laws, law enforcement, governing bodies, and organizations to keep crime down. [20:54] It's not dissimilar to cybersecurity. If Gwenn were talking to a board, she would say, It takes everybody in your community, in your organization, to build resilience, protect yourself from cybercrime, and react to it. [21:12] Gwenn says a big mistake people often make is thinking incident response is a job for just their tech team. The IT team is not trained in all the various fields you need to be an expert in to get through a cyber incident. [21:41] Your IT team will be able to get you up and running, collaborate, and be a good foundation for the incident response, working with outside experts. It takes people who understand the law and who understand communications. [21:54] It takes people who understand the brand, who are the heart of the organization, to be able to respond. Your CISO may say, Here's how I think that we should respond, but your CEO may say, This isn't how I think we would respond to an event like this. Keep in mind who we are. [22:32] Your legal team is there to say, Here's why we can't do that, the risk is too great; It will be worse if you do X, Y, Z; You shouldn't do that because you need to be compliant with the law. [23:11] Gwenn says good leaders lead best when they model. If you expect people to be open-minded and collaborative, you need to be the same. For the most part, organization leadership is very aware that cybersecurity is an important part of who they are and will be. [23:55] Gwenn has met a ton of CEOs who admit they don't know what they don't know and ask for help to understand cybersecurity so they can help their organizations in the best way possible. Some CEOs are thinking ahead and putting teams together that understand their role. [24:20] Gwenn has encountered CEOs who are just messing up the process. One wanted to invite his wife, not an employee, to the conversation because she would like to hear about it.  From a legal and business perspective, it's very risky for the company. [25:04] One Final Break! The Spencer Educational Foundation's goal to help build a talent pipeline of risk management and insurance professionals is achieved, in part, by its collaboration with risk management and insurance educators across the U.S. and Canada. [25:23] Since 1999, Spencer has awarded over $2.9 million to create more than 570 Risk Management Internships. The Internship Grants application process is now open through October 15th, 2025. [25:39] To be eligible, risk managers must be based in the U.S., Canada, or Bermuda. A link to the Internship Grants page is in this episode's show notes. You can always visit SpencerEd.org, as well. [25:53] Let's Conclude Our National Cybersecurity Awareness Month Interview with Gwenn Cujdik! [26:05] It's National Cybersecurity Awareness Month 2025, here in the U.S. It's a big month for everyone in Gwenn's house; they have to pull their own weight a little more because she's traveling a lot, she's out a lot, and there are a lot of conferences and meetings going on! [26:29] Gwenn tries not to shove everything cyber just into October. October is busy, and she loves it. [26:56] On October 29th, at the Sheraton New York Times Square Hotel in Manhattan, Gwenn will be the Conference Co-Chair for the Zywave Cyber Risk Insights New York event. It's a full day with a lot of very knowledgeable individuals from a range of companies. [27:50] It is one of Gwenn's favorite events. It's a day packed with good information. She would love to see more risk managers and CISOs join it. The amount of information you can get in one day is almost unbelievable. The content is pretty diverse. [28:21] It covers claims, the state of the market, the different ways threat actors are attacking, how to prepare better for attacks and for business continuity, and how to organize invoices and costs as you're going through an incident response. [29:01] Gwenn says, Get the small things right so you can deal with the big things. While you tackle the small things, you can talk about whether or not the law requires you to file notifications to seven million people and how to get through that as a company. [29:22] Gwen says it's a great event. Gwenn will be there, giving opening remarks. Justin will be there, after attending a heavy metal concert the night before. The link is in this episode's show notes. [30:52] When Gwenn entered the cybersecurity field, she was surprised at the female presence. One of the managing partners who interviewed her was a female. There are also savvy female hackers out there. [31:35] Gwenn says that in criminal law, people have trouble understanding that women can commit crimes, the same way that men can. Gwenn points out Elizabeth Holmes and the book Bad Blood, about Theranos. [32:23] Gwenn mentions a woman in government who embezzled $22 million from her community to show horses. [32:42] Gwenn says, in terms of cybersecurity being a male-dominated field, we're all learning together; anybody who tries and is committed to it can do it. Because it's new, people come from different backgrounds with diverse experiences. [33:11] Gwenn says, We're seeing value in people coming from different careers and different industries and seeing their skillsets translate to cybersecurity. In this field, you need great diversity with people from all different backgrounds to be able to tackle this. [33:38] It's not one-size-fits-all. There are personalities involved. There are different businesses involved, from small to large, public to government. You have to be able to understand a huge variety of people and businesses. You have to understand a huge amount of technology. [34:00] Gwenn talks about the differences between cybersecurity and other industries. eDiscovery for cyber is not the same as eDiscovery for litigation. You need special people and tooling, and you have to understand what the tooling is, which helps you figure out timing. [34:43] Technology is always developing. Gwenn compares it to cat and mouse. We're constantly chasing the bad guys to figure out what they're doing. Sometimes it's reactive. They'll think of something new, and we've never seen it before. This is how we get through it. [35:04] The tools and a skillset you've used dealing with everything before help you tackle what's coming. Even the way we investigate and respond to things has changed. [35:16] Gwenn says when we came on the scene, we would grab images of all the computers. If there were 50 computers, you would have 50 images, which would mean people going through a massive amount of data, taking a really long time. [35:30] We don't do that now. We have tools and technology that can get through a system programmatically, to pull the evidence we need to do these investigations without having to go into a shop and take copies of laptops or servers to get through that. [35:49] That makes a potential difference of millions of dollars in responding. It's the difference between months and a month to respond. [36:15] Gwenn has not seen a malicious actor with technology or an algorithm that is beyond what she has seen before. She says, We have the technology they have. You'd be surprised how much private industry gives to our community in terms of intelligence and technology. [36:35] Gwenn adds, We work with the government to find out solutions. The industry is armed pretty well. Gwenn has seen some things that have impressed her. One attacker was pulling searches from a legal hold, getting into sensitive information. [37:16] Their searches looked legitimate, like what an attorney would look for, so it didn't set off bells and whistles. Gwenn wonders how they knew to look in a legal hold. Were they lawyered? That was something small but ingenious to Gwenn. [37:46] Seeing a smart attack invigorates Gwenn to use her brain and try to be as smart or smarter. She says that's what is great about this job. It's constantly changing. You're constantly moving. It's not for weak minds. [38:11] To excel, you have to be smart, tenacious, and love learning. You have to love that you may be an expert in this, but you may become obsolete. You've got to keep your game up.  Gwenn says she is just a big nerd for it. [38:33] Attackers are using AI more. Gwenn recalls two incidents recently where two different groups, for two different reasons, were attacking Salesforce. That's the rub of being popular. One group used AI to search quickly for sensitive information to leverage attacks on companies. [39:27] Unfortunately, people are reusing passwords, and the bad guys know that. Gwenn says you'd better not! [39:57] Justin comments that AI being used for a cyber attack should be on companies' risk radars. How can they adjust defense strategies to stay ahead of something like that? [40:08] Gwenn is dealing with that at this moment. If you are a big company with subsidiaries and locations around the country or the world, segregate the networks. If an attack hits your facility in Oklahoma, they won't have access to your facility in Belgium. [40:38] If your locations are networked, it's a domino effect. If one goes down, they all go down. In terms of business resilience, that is the one factor that can tumble everything with the press of a button. [40:55] The tools that bad guys are using are meant to get them through fast. They get in, use AI to conduct reconnaissance, and get terabytes of data out quickly. It's important to take every effort to reduce the severity of an attack in its spread and the amount of data stolen. [41:40] Can they move laterally within a company or elevate privileges by getting to the admin, who has access to everything? It's great to focus on how to prevent it, but the reality is, they're going to find a way. It's not if, it's when. [42:09] While you have to prevent the attack from happening, and be vigilant. If you get an attack, you have to make sure it's small, you respond quickly, and it's not going to hit every facet of your company. Attacks that hit every facet of the company are the most devastating. [42:39] Justin says you've been wonderful. You've given us so much to think about when it comes to National Cybersecurity Awareness Month. You do great work! I look forward to seeing you in more AXA XL RIMS collaborative webinars! [42:55] We'll see you in the city for the Zywave Cyber Risk Insights New York, on  October 29th, delivering the opening address and mingling with attendees. [43:04] Gwenn says, I'll be there all day, attending sessions, supporting my friends on panels, my cyber family, and for folks who want to meet me. I'm always happy to talk cyber! [43:24] Justin says, Lock Down & Level Up: Turn Up Your Cybersecurity Game Against Creative Cyber Criminals. [43:30] You've been such a wonderful guest, and I appreciate all your time and insight today. Thank you, Gwenn! [43:43] Special thanks to Gwenn Cujdik of AXA XL for joining us here to discuss all things cyber. The AXA XL RIMS webinar, “Lock Down & Level Up: Turn Up Your Cybersecurity Game Against Creative Cyber Criminals,” is now available on demand through the RIMS.org/Webinars page. [44:05] A link is also in this episode's show notes. [44:07] Gwenn will deliver the opening address at the Zywave Cyber Risks Insights New York Conference on October 29th in Manhattan. A link is in this episode's show notes. [44:19] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [44:47] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [45:05] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [45:23] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [45:39] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [45:54] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [46:06] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS ERM Conference 2025 — Nov. 17‒18 Spencer Internship Program — Registration Open Through Oct. 15. RISKWORLD 2026 — Members-only early registration through Oct 30! RIMS-Certified Risk Management Professional (RIMS-CRMP) The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RISK PAC | RIMS Advocacy | RIMS Legislative Summit SAVE THE DATE — March 18‒19, 2026 RIMS Risk Management magazine | Contribute RIMS Now Zywave's 2025 Cyber Risk Insights Conference — Oct. 29, 2025 | New York City StaySafeOnline.org “RIMS Issues Statement on the Passing of Legendary Risk Leader and Former RIMS President Susan Meltzer” Upcoming RIMS Webinars: RIMS.org/Webinars Natural Hazards: A Data-Driven Guide to Improving Resilience and Risk Financing Outcomes | Oct. 9 | Sponsored by Global Risk Consultants Jury Dynamics: How Juries Shape Today's Legal Landscape | Oct. 16, 2025 | Sponsored by Zurich Parametric Insurance: Providing Financial Certainty in Uncertain Times | Oct. 30, 2025 | Sponsored by Swiss Re Geopolitical Whiplash — Building Resilient Global Risk Programs in an Unstable World | Nov. 6 | Sponsored by Hub “Lock Down & Level Up: Turn Up Your Cybersecurity Game Against Creative Cyber Criminals”   Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Virtual Exam Prep — Oct. 29‒30, 2025 RIMS-CRMP-FED Exam Prep Virtual Workshop — November 11‒12 Full RIMS-CRMP Prep Course Schedule “Risk Appetite Management” | Oct 22‒23 | Instructor: Ken Baker “Intro to ERM for Senior Leaders” | Nov. 4‒5 | Instructor: Elise Farnham “Fundamentals of Insurance” | Nov. 11‒12 | Instructor: Chris Hansen “Leveraging Data and Analytics for Continuous Risk Management (Part I)” | Dec 4. See the full calendar of RIMS Virtual Workshops RIMS-CRMP Prep Workshops   Related RIMScast Episodes about Cyber: “AI Risks and Compliance with Chris Maguire” “Data Privacy and Protection with CISA Chief Privacy Officer James Burd” “Cyberrisk Trends in 2025 with Tod Eberle of Shadowserver”   Sponsored RIMScast Episodes: “The New Reality of Risk Engineering: From Code Compliance to Resilience” | Sponsored by AXA XL (New!) “Change Management: AI's Role in Loss Control and Property Insurance” | Sponsored by Global Risk Consultants, a TÜV SÜD Company “Demystifying Multinational Fronting Insurance Programs” | Sponsored by Zurich “Understanding Third-Party Litigation Funding” | Sponsored by Zurich “What Risk Managers Can Learn From School Shootings” | Sponsored by Merrill Herzog “Simplifying the Challenges of OSHA Recordkeeping” | Sponsored by Medcor “Risk Management in a Changing World: A Deep Dive into AXA's 2024 Future Risks Report” | Sponsored by AXA XL “How Insurance Builds Resilience Against An Active Assailant Attack” | Sponsored by Merrill Herzog “Third-Party and Cyber Risk Management Tips” | Sponsored by Alliant “RMIS Innovation with Archer” | Sponsored by Archer “Navigating Commercial Property Risks with Captives” | Sponsored by Zurich “Breaking Down Silos: AXA XL's New Approach to Casualty Insurance” | Sponsored by AXA XL “Weathering Today's Property Claims Management Challenges” | Sponsored by AXA XL “Storm Prep 2024: The Growing Impact of Convective Storms and Hail” | Sponsored by Global Risk Consultants, a TÜV SÜD Company “Partnering Against Cyberrisk” | Sponsored by AXA XL “Harnessing the Power of Data and Analytics for Effective Risk Management” | Sponsored by Marsh “Accident Prevention — The Winning Formula For Construction and Insurance” | Sponsored by Otoos “Platinum Protection: Underwriting and Risk Engineering's Role in Protecting Commercial Properties” | Sponsored by AXA XL “Elevating RMIS — The Archer Way” | Sponsored by Archer   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Gwenn Cujdik, Incident Response and Cyber Services Lead for North America at AXA XL Production and engineering provided by Podfly.  

I read from FRM to frolicsome. The word of the episode is "frolicsome". Happy Gilmorehttps://www.imdb.com/title/tt0116483/ Use my special link https://zen.ai/thedictionary to save 30% off your first month of any Zencastr paid plan. Create your podcast today! #madeonzencastr Theme music from Jonah Krauthttps://jonahkraut.bandcamp.com/ Merchandising!https://www.teepublic.com/user/spejampar "The Dictionary - Letter A" on YouTube "The Dictionary - Letter B" on YouTube "The Dictionary - Letter C" on YouTube "The Dictionary - Letter D" on YouTube "The Dictionary - Letter E" on YouTube "The Dictionary - Letter F" on YouTube Featured in a Top 10 Dictionary Podcasts list!https://blog.feedspot.com/dictionary_podcasts/ https://linktr.ee/spejampardictionarypod@gmail.comhttps://www.facebook.com/thedictionarypod/https://www.threads.net/@dictionarypodhttps://twitter.com/dictionarypodhttps://www.instagram.com/dictionarypod/https://www.patreon.com/spejamparhttps://www.tiktok.com/@spejampar917-727-5757

In this season 5 episode of First Look ETF, Stephanie Stanton ‪@etfguide‬ examines the latest ETF marketplace trends with NYSE and guests. The guest lineup for this episode includes:1. Maital Legum, NYSE2. Robert C. Doll, CFA, CEO & CIO, Crossmark Global Investments3. Brett Meyer, CFA, FRM, Head of Capital Formation, Towle & Co.4. Victor Haghani, CIO & Founder of Elm Wealth*********First Look ETF is sponsored by the New York Stock ExchangeLearn more at https://www.ETFCentral.comWatch us on YouTube (Link http://www.youtube.com/etfguide)Follow us on Twitter @ETFguide (Link https://twitter.com/etfguide)Visit us at ETFguide.com (https://www.etfguide.com)

จับตาการเมืองไทยวันพรุ่งนี้ ชี้ชะตา “ตลาดหุ้นไทย” Downside จำกัด   The Investo คุยเคลียร์ข่าว ให้เข้าใจทุกการลงทุน กับ Naomi   แขกรับเชิญ ณัฐชาต เมฆมาสิน, CFA, FRM ผู้ช่วยกรรมการผู้จัดการอาวุโส ฝ่ายวิเคราะห์หลักทรัพย์ บล.ทรีนีตี้ จำกัด     Naomi ดำเนินรายการ   รายการ The Investo กับ Naomi วิเคราะห์เจาะลึกข่าวสำคัญในแต่ละวัน กับผู้เชี่ยวชาญในด้านต่างๆ ทั้งเศรษฐกิจ การเงิน และการลงทุน   คุยเคลียร์ข่าว ให้เข้าใจทุกการลงทุน กับ Naomi ที่ Facebook และ YouTube Finnomena ทุกวันจันทร์ - พฤหัสบดี -- ติดตามช่องทางอื่น ๆ ของ Finnomena Website https://www.finnomena.com  Facebook   / finnomena     IG   / finnomena     Twitter https://x.com/finnomena  TikTok   / finnomena     ดาวน์โหลดแอป Finnomena หรือเปิดบัญชีกับ Finnomena คลิกเลย https://finno.me/finnomenaliveyt ติดตามทุกโอกาสการลงทุน Finnomena Opphub https://finno.me/fcins    #หุ้นไทย #เศรษฐกิจไทย #ลงทุน #TheInvesto #Finnomena

We finally get some juicy details in the NASCAR Antitrust lawsuit - and it is a bit of an everyone-hates-everyone vibe. We dig into the details, plus - the latest NASCAR News, we analyze the playoff field, and our Paint Scheme Preview and Picks for Darlington!The Rundown:- Lawsuit Drama! Text messages have been realeased. NASCAR is looking a bit shady. 23XI is looking a lot mad- Daytona - Ryan Blaney prevents playoff silliness from happening. Thank you, Ryan.- Daytona Ratngs- NASCAR Playoff field analysis - who is already in trouble- NASCAR News:- Connor Zilisch coming to the Cup Series. Too soon?- NASCAR looking to sell charters out from under 23XI and FRM - but who are the buyers?- Legacy gets injunction in their lawsuit with RWR- Dodge and...Kaulig(?) in the Truck Series- Nashville Fairgrounds vs. Nashville Superspeedway - how much of a difference does it really make?- Darlington! Our Paint Scheme Preview and PicksFind the latest episodes at InTheDraftShow.com, follow on Bluesky and Instagram @InTheDraftShow – and like the show on Facebook at facebook.com/InTheDraftShowThanks for listening!

On this very special episode of FRM we discuss the life and legacy of the "Immortal Hulk Hogan"

I read from FRM to frolicsome.       The word of the episode is "frolicsome".       Happy Gilmore https://www.imdb.com/title/tt0116483/       Use my special link https://zen.ai/thedictionary to save 30% off your first month of any Zencastr paid plan.    Create your podcast today! #madeonzencastr       Theme music from Jonah Kraut https://jonahkraut.bandcamp.com/       Merchandising! https://www.teepublic.com/user/spejampar     "The Dictionary - Letter A" on YouTube   "The Dictionary - Letter B" on YouTube   "The Dictionary - Letter C" on YouTube   "The Dictionary - Letter D" on YouTube   "The Dictionary - Letter E" on YouTube   "The Dictionary - Letter F" on YouTube     Featured in a Top 10 Dictionary Podcasts list! https://blog.feedspot.com/dictionary_podcasts/     Backwards Talking on YouTube: https://www.youtube.com/playlist?list=PLmIujMwEDbgZUexyR90jaTEEVmAYcCzuq     https://linktr.ee/spejampar dictionarypod@gmail.com https://www.facebook.com/thedictionarypod/ https://www.threads.net/@dictionarypod https://twitter.com/dictionarypod https://www.instagram.com/dictionarypod/ https://www.patreon.com/spejampar https://www.tiktok.com/@spejampar 917-727-5757

Accenture, American Express, ASOS, EY, Four Seasons Hotels, Google, NBC Universal  are his clientsFrm Royal Air Force Senior Officer, Frm. International Negotiator for the UK Government,  executive coach. Google, Accenture, American Express His first book, 'Find Your Why: A Practical Guide for Discovering Purpose for You and Your Team', co-authored with Simon Sinek and David Mead. Peter gets up every day inspired to enable people to be extraordinary so that they can do extraordinary things. Collaborating with Simon Sinek for over 7 years, he was a founding Igniter and Implementation Specialist on the Start With Why team, teaching leaders and companies how to use the concept of Why."The first step is to distinguish leadership from management. “Management is about handling complexity,” explains Docker, while “leadership is about creating simplicity. It's about cutting through the noise, identifying what's really important, making it personal for people, bringing them together and connecting them.”  ~  Peter Docker in Venteur Magazine January 2023One of Peter's latest books, 'Leading from The Jumpseat: How to Create Extraordinary Opportunities by Handing Over Control'Peter's commercial and industry experience has been at the most senior levels in sectors including oil & gas, construction, mining, pharmaceuticals, banking, television, film, media, manufacturing and services - across more than 90 countries. His career has spanned professional pilot; leading an aviation training and standards organisation; teaching post-graduates at an international college; and running multi-billion dollar procurement projects. A former Royal Air Force senior officer, he has been a Force Commander during combat flying operations and has seen service across the world. He is a seasoned crisis manager, a former international negotiator for the UK Government and executive coach.© 2025 Building Abundant Success!!2025 All Rights ReservedJoin Me on ~ iHeart Media @ https://tinyurl.com/iHeartBASSpot Me on Spotify: https://tinyurl.com/yxuy23bAmazon Music ~ https://tinyurl.com/AmzBASAudacy:  https://tinyurl.com/BASAud

In this episode of FRM we discuss Wrestlers starring in historically bad movies, WWE News, AEW News and More!

On this episode of FRM the guys discuss Jimmy Swaggart, WWE News and Rumors, and all things AEW!

On this episode of FRM the guys discuss: Goldberg Retires, Saturday Nights Main Event, Seth Rollons Injury, AEW ALL IN Texas and much more!

In 1996, former U.S. Marine Wes Bentley founded Far Reaching Ministries (FRM) after serving as a missionary in war-torn regions of Sudan, including Bahr El-Ghazal, Western Equatoria, the Nuba Mountains, and Southern Kordofan. By 1998, FRM expanded its efforts to South Sudanese refugee camps, primarily in Kiryandongo, Uganda, bringing hope to thousands of orphans and widows affected by the Lord's Resistance Army (LRA). Addressing physical, emotional, and spiritual needs, FRM became a beacon for those suffering from ethnic and religious cleansing.Today, FRM operates in 39 of the world's most dangerous nations, deploying over 500 team members to share the hope of Jesus, disciple believers, and intervene for those trapped in cycles of death, violence, and poverty under oppressive regimes.Committed to alleviating suffering, FRM rescues and rebuilds lives affected by Christian persecution, abduction, violence, rape, and war-induced humanitarian crises. The ministry provides essential aid, combats child sex trafficking and organ harvesting, and offers medical care, food, and shelter. More importantly, it introduces people to the love and hope found in Jesus Christ.FRM is also dedicated to planting underground churches, discipling believers, and equipping them to return to their communities as Gospel witnesses. Its frontline workers include military-embedded chaplains, pastors, doctors, and ministry leaders, all working to transform lives and nations for Christ.

Sonoma weekend has come and gone and it was domination by SVG on Sunday, notching his third Cup Series win of the season! We talk bracket busters (TY DILLON), ankle busters (Ty Gibbs on pit road) and last but not least, all about the battle between Zilisch and SVG on Saturday.We also touch on the latest legal drama in NASCAR, between NASCAR/23XI & FRM and RWR/LMC. There's a lot.

Charlie Marlow discusses the latest news in the NASCAR lawsuit with 23XI Racing & FRM getting denied a re-hearing & now they may lose their charters and have to run as open teams starting next week at Dover.#nascar #racing #charliemarlow ***thumbnail photos by Getty Images courtesy of NASCAR Media

Welcome back to another rendition of THE show of record talking records, SURFACE NOISE! For the latest feature presentation of our vinyl record vacation, our panelists discuss a perceived MoFi resurgence (and is it real), starting with the curation of titles from the more recent past, coupled with getting their own pressing plant up and running (Fidelity), is this the start of a rebirth of sorts? Frm there, the panel discuss "Sophomore Sucks": albums following great debuts that were pretty, pretty rough...or not tough enough. All this, ONLY on SURFACE NOISE - get some!  

Frank Melaccio, Vice President, Finance & Treasurer at Horizon Blue Cross Blue Shield of New Jersey, reveals how this mindset propelled his career from banking to executive leadership - and why it could do the same for you.Frank Melaccio is Vice President of Finance and Treasurer at Horizon Blue Cross Blue Shield of New Jersey, one of the United States' largest and oldest health insurers. With a career spanning banking, Big Four consulting, and health insurance, Frank brings a wealth of insight into strategic treasury, risk management, and the future of finance. He's also an adjunct professor at Hofstra University's Frank G. Zarb School of Business and a passionate advocate for continual learning and professional development.Frank holds an MBA in finance from Hofstra University and a BS in both finance and economics from Fordham University. He's also a Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), and a Certified Financial Risk Manager (FRM).Main topics discussed:Franks career journey: from commuting into Manhattan and dreaming of Wall Street to rising through regional banks and transitioning to health insurance.Frank's move from consulting at PwC during the financial crisis to leading treasury at a health insurer.Building ORSA models and becoming Chief Risk Officer in response to regulatory changes.Franks thoughts on CTP, CFA, CPA, and FRM - how to choose the right one for your path.The importance of team building and how leadership evolves with responsibility.Leveraging AI, coding, RPA, and treasury management systems to modernize and streamline processes.How teaching derivatives and healthcare finance keeps Frank sharp and benefits his corporate leadership.The power of adaptability, planning your path, and the dangers of chasing money over opportunity.You can connect with Frank Melaccio on LinkedIn. ---

On this episode of FRM the Refs talk about what pisses them off about the wrestling Industry, the marks and promoters who run "Pay to Play" Shows. All that and a lot more! It's a ridiculus show, and we like it that way! Sit back and enjoy the insanity!

On this episode of FRM, Jim is in Philly, and they guys have no supervision. It's a beautiful trainwreck into the world of Wrestling! We talk ticket prices and VIP fan experiences!

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, is joined by Ken Johnson, CFA, CAIA, FRM, Senior Managing Director and Chief Ratings Officer at AM Best. Together, they unpack AM Best's latest outlooks on the property & casualty and life insurance sectors—covering everything from macroeconomic uncertainty to the rise of private credit, offshore reinsurance, and how ratings methodology is adapting to today's dynamic insurance investment landscape.   Ken shares his take on the growing role of asset manager-owned insurers, the shift toward more complex ownership structures, and the increased reliance on less transparent asset classes. He also discusses AM Best's internal working groups and how they aim to strike a balance between robust capital modeling and fair treatment for insurers with evolving portfolio strategies. Whether you're a CIO, portfolio manager, or regulator, this discussion sheds light on how risk, regulation, and ratings intersect in today's market.

Front Row Motorsports Crew Chief Jon Leonard (7:45) join Davey Segal this week to discuss his new digs at FRM calling the shots for Chandler Smith on the No. 38. Leonard details how late things came together to even make the second FRM Truck Series entry happen, the thrash that ensued to get things ready for Daytona, why Chandler being involved in the hiring process for team members has made everyone closer and how nice it was to get a win early this season at Bristol Motor Speedway. Leonard also discusses his career as a crew chief, calling races for Leavine-Family Racing in the Cup Series for Kasey Kahne and Regan Smith, being promoted admittedly a little too quickly, learning on the fly, being a first-generation racer turned 14-year NASCAR veteran and more. Davey also reviews Austin Cindric's Talladega win, looks ahead to Texas and Papa Segal pays homage to one of the greatest of all-time in Formula 1.

Accenture, American Express, ASOS, EY, Four Seasons Hotels, Google, NBC Universal  are his clientsFrm Royal Air Force Senior Officer, Frm. International Negotiator for the UK Government,  executive coach. Google, Accenture, American Express His first book, 'Find Your Why: A Practical Guide for Discovering Purpose for You and Your Team', co-authored with Simon Sinek and David Mead. Peter gets up every day inspired to enable people to be extraordinary so that they can do extraordinary things. Collaborating with Simon Sinek for over 7 years, he was a founding Igniter and Implementation Specialist on the Start With Why team, teaching leaders and companies how to use the concept of Why."The first step is to distinguish leadership from management. “Management is about handling complexity,” explains Docker, while “leadership is about creating simplicity. It's about cutting through the noise, identifying what's really important, making it personal for people, bringing them together and connecting them.”  ~  Peter Docker in Venteur Magazine January 2023One of Peter's latest books, 'Leading from The Jumpseat: How to Create Extraordinary Opportunities by Handing Over Control'Peter's commercial and industry experience has been at the most senior levels in sectors including oil & gas, construction, mining, pharmaceuticals, banking, television, film, media, manufacturing and services - across more than 90 countries. His career has spanned professional pilot; leading an aviation training and standards organisation; teaching post-graduates at an international college; and running multi-billion dollar procurement projects. A former Royal Air Force senior officer, he has been a Force Commander during combat flying operations and has seen service across the world. He is a seasoned crisis manager, a former international negotiator for the UK Government and executive coach.© 2025 Building Abundant Success!!2025 All Rights ReservedJoin Me on ~ iHeart Media @ https://tinyurl.com/iHeartBASSpot Me on Spotify: https://tinyurl.com/yxuy23bAmazon Music ~ https://tinyurl.com/AmzBASAudacy:  https://tinyurl.com/BASAud

On this episode of FRM we celebrate the birthday of longtime co-host Christopher Butt!

Front Row Motorsports crew chief Dylan Cappello joins Davey Segal (7:30) to discuss year two working with Layne Riggs in the CRAFTSMAN Truck Series, getting used to the No. 34 instead of the No. 38, how the 2025 season has gone so far and the stop/start nature of the Truck Series schedule. Cappello also discusses his relationship with Riggs, how Layne's father Scott has helped the team grow, which areas they're targeting for improvement and how adding a second full-time entry to the truck operation has changed things at FRM. Cappello also dives into his background as a racer growing up in Arizona, winning at The Bullring at Las Vegas a couple years ago, the decision to ultimately go down the engineering route instead of the driving one and the adjustment that entailed, winning a title at his home track in Phoenix in 2022, getting the promotion to crew chief and the challenges that have come along with that including being the "leader of men" for a race team and more. Davey also recaps Christopher Bell's third consecutive victory and the option tire in Phoenix, previews Las Vegas and Papa Segal pays homage to Suitcase Jake.

Guest: Bozi Tatarevic Parker, Joshua, and AJ talk all the latest breaking news in motorsports, with a bit of humor in a lighthearted version of the Money Lap show. Group Chat will be our weekly show for all members of the Money Lap team to discuss everything we already discuss in out text group chat! The trio explores the implications of the lawsuit, NASCAR's charter system, and the sport's evolving dynamics. The hosts' engaging banter and insightful analysis make for an entertaining and informative episode, keeping listeners hooked on the latest motorsports news. Leave us a voicemail! https://moneylap.com Timestamps: 00:00 - Intro 02:07 - Meet the Team 03:54 - YouTube Comments and Clickbait Discussion 07:40 - NASCAR Countersues Michael Jordan, 23XI, FRM, Curtis Polk 18:52 - NASCAR Penalties Issued To Austin Cindric 26:33 - NASCAR's Appeals Panel Overturns JGR's L2 Penalty 29:57 - Guest - Bozi Tatarevic 41:57 - Chase Briscoe's Points Situation 44:44 - Track Limits Discussion 46:03 - Using a Truck to Test Tech Pro Barriers 51:05 - What's Happening on Reddit - Denny Hamlin's Tweet 56:44 - NASCAR Twitter Account Hacked 1:01:34 - Henderson Motorsports: "Bruh" 1:03:06 - Phoenix Race Insights 1:06:11 - Jack Doohan's Seat Jeopardy 1:12:01 - TV Ratings Overview 1:13:05 - IndyCar Broadcast Contract 1:14:14 - Indy Next Racing 1:15:01 - Indy Lights Race Memory 1:20:13 - E-Scooter Championship 1:23:38 - Outro (Timestamps are a rough timing and may require a little scrubbing to find the start of the topic) With over 1100 unique products currently in stock, Spoiler Diecast boasts one of the largest inventories in the industry. We are NASCAR focused, offering a wide range of diecast and apparel options. But that's not all. We've expanded our catalog to include diecast for dirt/sprint cars, Indycar, and F1. As passionate racing fans ourselves, we're constantly growing our offerings to cater to different forms of racing. Use promo code "moneylap" for free shipping and 5% off all orders. https://www.spoilerdiecast.com/ The Money Lap is the ultimate motorsport show (not a podcast) with Parker Kligerman and Landon Cassill professional racecar drivers and hilarious hosts taking you through the world of motorsports. Covering NASCAR, F1, Indycar, and more, they'll provide the scoop, gossip, laughs, and stories from the racing biz. Make sure to subscribe, review and follow us for the coolest stuff in motorsports https://www.instagram.com/themoneylap https://x.com/themoneylap https://www.tiktok.com/@themoneylap Copyright Pixel Racing, LLC 2025

COTA brought the heat with a four driver duel for supremacy and a whole lotta full body contact. The heat also came down Wednesday when NASCAR delivered a 50 point penalty on Austin Cindric, 100 points back to Chase Briscoe, and countersued 23XI, FRM, and Curtis Polk. Add to that the Phoenix race will have the option tire. Visit the Daily Downforce at dailydownforce.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Continuing on our with our 2025 investment themes, Rich Excell CFA, CMT digs into the fixed income market with two excellent guests: Elizabeth Henderson, CFA the Head of Fixed Income for AAM and Anthony Woodside, CFA, FRM, the Head of Investment Strategy & Head of Multisector Fixed Income at LGIM America

Find the Pioneer National Agronomy Summary Book, and other agronomy resources at this website: https://www.pioneer.com/us/agronomy-science.html?cid=mkch:eml_mktp:3pe_ctry:us_brnd:phi_agny:IHA_mkdv:pd_objv:awe_audn:Frm_prct:SED_cpid:cpn3086_cpno:110887_cpds:PioneerAgronomyBooklet_cpky:36001_crdc:TSK25621_#anchor_1

Crew Chief Drew Blickensderfer joins Davey Segal (5:10) ahead of the 2025 season to discuss why now was the right time for him to return for his second stint at Front Row Motorsports, his faith in Noah Gragson, what FRM's alliance with Team Penske really means and what's changed at the team since his departure. Blickensderfer also reminisces on his two Daytona 500 victories, starting off his career winning his first two races as a shot caller with Matt Kenseth, why Carl Edwards stands out among the 18+ drivers he's worked with in his career, his background as a walk-on Division I wrestler at Indiana, why he enjoys being the "head coach" of sorts and more, including his real name and legitimate goals for the 2025 season. Papa Segal pays homage to Alvin Hawkins, NASCAR's first flagman, as the season approaches.

On this episode of FRM we discuss Britt Baker and Adam Cole Break up News, Pro Wrestling at a Nursing Home, WWE, AEW Notes and Much More!

We've already had more inflation in this young 2020s decade than the entire 2010s. If the next forty years have as much inflation as the last forty, gas will cost $13.38 per gallon, the average home $1.88 million, and the average rent $59,000 annually.  Inflation impoverishes most people. You can profit from it 3 ways at the same time. Watch the free 3-part video series: GetRichEducation.com/TripleCrown.  The 30-year fixed rate mortgage is a uniquely American construct. It virtually exists nowhere else in the world. I compare this to mortgage terms in Europe, Canada and Australia.  In much of the world, homeowners have had their mortgage payments double overnight! Trends that won't soon be disrupted: more inflation, people need to live somewhere, there aren't enough places to live. That's so simple! Invest in it. Rents are increasing the most where little new supply has been added. There's a myth that gigantic institutional investors are gobbling up all the single-family rental homes. But they only own 3% of the market. Mom & pops own 80%. Single-family rents are up 3.4% per CoreLogic. Detached SFHs are up more than attached types. Property prices and rents are positively correlated. Some people falsely think that they move inversely. Resources mentioned: Profit from inflation 3 ways: GetRichEducation.com/TripleCrown For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Welcome to GRE! I'm your host, Keith Weinhold. Learn how the misery of INFLATION is altering BOTH your quality of life and the return on ALL of your investments… … also, many people are now having their mortgage payments DOUBLE overnight and IT'S creating pain, then, what are the factors affecting the future direction of RENTS - all that, and more, today on Get Rich Education!  ______________   Welcome to GRE! You're listening to one of the longest-running and most listened-to shows on real estate investing. This is Get Rich Education. I'm your host, Keith Weinhold - the voice of RE since 2014.   I don't know if you fully realize how much inflation is steering all of your investments - and it's emphatic at a time like this when the dollar is down 25% cumulatively just in the last four years. Gosh!   And I've got some jaw-dropping inflation fact to share with you soon.    We'll get to inflation's RE affects shortly. But here's what I mean.    In stocks, they keep riding up on a wave of optimism, anticipating a Fed interest rate cut - largely due to future INFLATION expectations. Yes, there's jobs & GDP and some other factors.   But the stock market - which is a FORWARD-looking market - it moves based on what's expected to happen 6 to 12 months from now.    STOCK investors know that rate cuts open the floodgates to get us closer to the “easy money” days again.    That's why - as backwards as it is, the worse the economy looks, the lower that inflation tends to be, and then, in turn, the lower that interest rates can go, which the stock market likes.   So a worsening economy often pumps up the stock market. Soooo backwards.    Just look at what happens historically. Recessions sound bad. Yet what happens is that rates get cut in a recession - because the economy needs the help.    But nearer-term, it's this ongoing expectation of the rate cut - that's been looming out there for months but hasn't happened - which CAN keep propelling the stock market to higher highs. It's already hit all-time highs here recently. You can make the CASE that stocks should keep floating higher from here… based on that premise.   Before we look at real estate & inflation. Understand this.    Inflation has already widened the divide between the affluent and the deprived. That divide has gone from a gully to a canyon.   But... my gosh! Here's the stat that I want to share with you. And you're really going to get a sense for the gravity of what you're living through this decade.   We've already seen more inflation in the first 51 months of the 2020s decade than in the ENTIRE decade of the 2010s. Already.   This gets really interesting. Let's look at about the last four decades here.    Alright, in the 1990s decade, America had 34% cumulative inflation. Let's go ahead and… we'll associate this decade with President Bill Clinton.    We won't tie any President to the inflation number because there are lag effects and other factors. A President really can't take the credit or blame, in most cases. Just marking the era here.   So, 34% inflation in the 1990s.    The 2000s decade saw the GFC and… 29% inflation. Most of those were George W. Bush years.   The 2010s decade saw lower inflation → Just 19%. So that's under 2% a year. These were mostly the Obama years here in the 2010s.    Little flex there from the former Commander in Chief.   Then the 2020s decade → have seen, like I alluded to, and under Joseph Robinette Biden, Jr. - yes, as the oldest sitting president ever, it's easy to forget that he's a “junior. In this young 2020s decade, we have, 21% cumulative inflation. Already.   So this figure is after just the first 51 months of this decade, if we're counting from 2020… and this is largely due to supply shortages from the COVID pandemic.    So 21% ALREADY this decade… and just 19% ALLLL of last decade which was a full decade. That's the impact.    That's reflective of what you see in home prices and rent prices and utilities, transportation, labor, and almost every facet of your life.… and what you see in your weekly Costco bill and Trader Joe's bill.    Who have we left out here? A one-term president, so far? Does somebody feel left out.    Yes, that is the actual person of one Donald John Trump.   Psssshhh!   All of those figures I cited are from the BLS, and I've been rounding to nearest whole percent.   But get this! Inflation over the next forty years could make the LAST 40 years seem like a picnic.    That's partly because we're $35T in debt and that figure now grows by $1T every single quarter… every 90 to 100 days. So we MUST keep dollar-printing to help pay it back.   But just, if the last forty years repeats itself, by the year 2064, which is the next forty years, we'll see these prices. Prepare for a future that looks like this: Gas at $13.38 per gallon The home price at $1.88 million Average rent at $59,000 per year And the average salary at $104,000 That is if inflation over the next 40 years, looks like that last 40 years. Also, note how salaries don't keep pace with prices. That $104K average salary in the year 2064 doesn't sound as high-flying as those other figures.   Well, this is all really frustrating for consumers… and even debilitating to one's standard of living. Remember, this latest wave of inflation brought us the biggest YOY increase in homelessness - based on HUD figures.   and why you need to invest in something that reliably BENEFITS from inflation and pays you an income at the same time.    Look, here's really, the deal. Dollars are abundant. So then isn't it a paradox that a major spike in the supply of dollars would create more homelessness?   Well, you know that dollars are there for your taking - because so many more have been brought into existence. Dollars are abundant. So as they cycle through the economy, rather than going through the consumer motions, you can build your diverter. That's where the world of abundance exists, so get into that flow.   Ultimately, REAL capital is scarce. Your time and energy are scarce. Natural resources are scarce. Labor is scarce.   What's frustrating is that money ought to reflect that scarcity if it is going to accurately convey the value that enables people to make capital accumulation decisions.    And alas, we're doing our measuring in dollars and the dollar is not remotely scarce.   The middle class and poor often have wages that don't track inflation, yet they disproportionately suffer the higher consumer prices.   The investor class owns assets that float up with inflation. And GRE listeners will do even better than that.   As income property owners with mortgages, we're winning three ways at the same time with the Inflation Triple Crown. That's your dollar diverter.   Alright, so that's longer-term inflation. I've been talking in terms of decades - both the past and with an extrapolation into the future to 2064 there - and it's really rather sobering.   Well, what's the more CURRENT inflation situation? The situationship? Ha! What's the situationship now?   In trying to quiet it down to their 2% target, the Fed has run into so many hurdles that you'd think they were training for this summer's Olympics in Paris.   After it peaked over 9% two full years ago now, inflation's been bouncing near 3-and-a-half-percent for a year and they just keep having trouble getting it lower than that.   Hmmm... would we say that this could turn into Jerome Powell's three-quarters life crisis? We'll see.   Rising inflation is one of the key factors that brought down the Roman Empire. They famously experienced hyperinflation after a series of emperors lowered the silver content of their currency, called the denarius.    Today, some lament that the dollar isn't backed by gold, silver, or anything else.   But it is.   It's backed by the world's most powerful military, strongest economy, reserve currency status, international trade agreements, and you also… must pay your taxes in dollars.    Dollars are still liquid and useful… but perpetually debased, so get them and then transition out of them.    Yet, at the same time, we're also the greatest debtor nation in world history. The easiest way to pay it all back is to simply print more and inflate more.   So that's why it's almost inevitable that dollars will keep being worth less... and BTW, the two words “worth less” sound awfully close to the word “worthless”. Ha!    That's where we keep heading.   Until you can send a Venmo request to the Fed to compensate you for your loss in purchasing power, we need to actually do something about this.    And the dollar that you had when you started listening to me today could very well now only be worth 99 cents. Ha!   We can either have our standard of living degraded by inflation or we will decide to profit from it.   So, if you haven't yet, check out GetRichEducation.com/TripleCrown.   Rather than impoverish you, learn how you can make inflation CREATE wealth for you three ways at the same time with that free, 3-part Inflation Triple Crown video series. Good learning there.   It's free & easy to watch, again, at GetRichEducation.com/TripleCrown   Inflation seemingly seeps into everything.   Inflation took down the commercial sector - Apt buildings & offices. Apts are down 30-40% in the last two years. It's all because inflation made the Fed panic and jack up those rates.   If that's not jaw-dropping enough. Office values are down 80%+ in the last two years. 80%+, 90%+ in some cases.    Of course, office RE got the double-whammy of the inflation-induced interest rate hikes AND the Work-From-Anywhere movement.   That leaves residential 1-4 unit properties in good standing - and still impacted by inflation, but LESS impacted by inflation.    Yeah, your 1-4 unit RENTS are up - and I'll talk more about rent later in the show today.    inflation also jacked up your expenses like insurance, utilities, maintenance & repair cost and more.   But as we move away from the inflation conversation now, of course, one big reason that 1-4s have stayed resilient is the American privilege of LTFIRD - and the fact that it's 30 years for most US properties.   In fact, in 2022, 89% of homebuyers applied for the 30-year.   I think that you're about to get more appreciation for this… perhaps than you've ever had.   The 30-year FRM is a UNIQUELY American construct.    And, BTW, some people don't seem to know what the word “unique” means. You've probably heard people misusing this word all the time.   Unique does not mean something that's sort of different.    Unique means “ONE of a kind”. Unique means something that does not exist ANYWHERE else.    What do I do here on this show? Besides giving you the occasional geography lesson as a side dish to your real estate, I do this with vocabulary, grammar, and syntax as well, don't I?    Even though my own is surely imperfect.   Anyway, the reason that the 30-year mortgage can exist is due to our deep financial markets - especially our secondary market for mortgage-backed securities, where your loan gets packaged up and purchased by a bond investor - a bit like Ridge Lending Group President Caeli Ridge & I touched on last week.   The reason that mortgage-backed securities are attractive to investors in the U.S. and across the globe is because their government sponsorship makes them safe investments over long periods of time. They also provide a fixed payout to the MBS holder.   And see, the rate on the 30-year fixed-rate mortgage tracks closely to 10-year Treasurys because “U.S. real estate is almost as good an investment as a U.S. Treasury bond.”   They've got Fannie & Freddie insurance.   And that entire MBS process now has more guardrails in it than we had before the Global Financial Crisis.   We're talking about the foundation here - really - of where you get your big lumps of money from - the 30-year FRM and its uniqueness.   Compared to the world, the US has very little variable rate debt.    Less than 4% of American mortgage borrowers have debt that's on rate terms of a year or less. Over 96% of US debt is LTFRD, defined as 10 years or more.   That is virtually unparalleled worldwide. To compare us to some other developed nations, mortgage borrowers in Germany - just 47% of them have long-term fixed debt - and none of them can get 30-year debt.   Long-term debt, again, defined as ten years or more,  Is little to ZILCH for mortgage borrowers in Canada, the UK, Ireland, Italy, Sweden, Finland, Australia, and other developed nations like them.   In Canada, the most common mortgage terms reset to the prevailing market interest rate every five years.    In Finland, their mortgages reset annually or faster. Gosh, can you imagine if your mortgage rate reset every year like it does for the Finns?   Sheesh, that's more often than some people lose the remote control or rearrange their furniture.   OK. So what's this really mean?   Ya gotta… pour one out for most mortgage borrowers in the rest of the world.   They can't lock in their mortgage interest rate for the long-term. So with rates doubling or tripling, starting from 3 years ago, it's totally ruined a lot of foreign homeowners.   Look, what if you're middle class and your monthly mortgage payment soars from $1,893 on Tuesday up to $3,415 on Wednesday?   That's what's happening elsewhere. It can go up 50% overnight and nearly double overnight in Australia, Europe and elsewhere.   But in the mortgage-advantaged US, we're safe.   If we buy at an 8% mortgage rate on a 30-year fixed amortizing loan today—just the plain, vanilla loan: If rates rise to 10% later, you're happy to be locked-in at 8% If rates fall to 6% later, you'll refinance Note that I refrain from saying "just refinance". I don't like the word "just". You'll still need hours to provide documentation and your credit score will be checked. But it's worth it.   You won't “just refinance”. Ha! You'll refinance.   So think of it this way then, you can alter your deal with the bank whenever you want—and usually with no prepayment penalty. Yet the bank can't alter it on you.   What did Darth Vader say to Lando Calrissian in the “Empire Strikes Back?”. I am altering the deal, pray that I don't alter it any further.    Ha! We better not play that clip here. I don't know the copyright laws with LucasFilm or Disney there. Ha!   But you're not a dark lord of the Sith for doing it… for altering the deal on the bank. You're playing within the rules.    This is almost an unfair advantage for Americans.   The bottom line here - with this unique American advantage, is that, as rates change, you get to play both sides of the game. And that's why we add smart properties with loans.    We turn that into wealth, with compound LEVERAGE.    Now, mere compound interest, that's a vehicle for you to rely on more for your shorter-term funds, your cash or what you're keeping more liquid.   Long-term wealth is build through compound LEVERAGE.   Short-term funds - that's for compound INTEREST.   And… your bank is getting rich off of YOU. The national average bank account pays less than 1% on your savings. If your money isn't making about 4-5% today, you're losing your hard-earned cash to inflation.  What I do, is keep my dollars in a private LIQUIDITY FUND. You can do this too. Your cash generates up to an 8% return with—COMPOUND INTEREST—year in and year out instead of earning less than 1% sitting in your bank account - or even 4-5% elsewhere. The minimum investment is just $25K. You keep getting paid until you decide you want your money back. This private LIQUIDITY FUND has a decade-plus track record - and they've always paid their investors 100% in full and on time. I would know… because, I'm an investor with them myself. See what it feels like to earn 8%. A lot of other GRE listeners are. To learn more, just text the word FAMILY to 66866 to learn more about Freedom Family Investments' LIQUIDITY FUND. Get 8% interest! Just do it right now, while you're thinking about it. Text FAMILY to 66866.   More straight ahead, including what's happening with rents. I'm Keith Weinhold. You're listening to Get Rich Education. _____________   Welcome back… you're listening to Episode 503 of Get Rich Education. I'm your host, Keith Weinhold.   We've got a poll result, from our Get Rich Education Instagram Page.    The poll question was simple. “When buying property, what's more important?”    The purchase price or the mortgage rate.   71% of you said the purchase price. 29% of you said the mortgage rate.    Of course, both are important, but I think that the PURCHASE PRICE is the best answer - because your purchase price stays fixed for the life of your ownership period, and you can CHANGE your fixed mortgage rate and make it malleable… whenever it suits your needs.   As we talk about where the OPPORTUNITY is today, though multifamily apartments are going to bottom out sometime and therefore, at some point, they'll make a wise investment - who REALLY knows - maybe the time for larger apartments is now…   … one opportunity is… giving good people OPTIONS during a housing affordability crisis.   And what's going on right now is that… let me put it this way… when people have a hard time affording their own home today, basically (ha!) people are having a hard time transitioning from resenting their landlord to bickering with an HOA.    Ha! That's kind of how the world works.   Seemingly everyone would rather be bickering with an HOA rather than resenting their landlord.    A lot of renters want to be buyers… they can't… and that isn't expected to change anytime soon… as prices will likely stay elevated… and mortgage rates are staying higher, longer too.   These things are ALMOST “knowns”. It's often wise… to invest in trends that are known. Nothing's completely predictable, but when you're looking for a place to park your investment dollars, a few other things… are known… right now.   And AI is not expected to change what I'm about to tell you… anytime soon.   VR - virtual reality is not about to change what I'm about to tell you anytime soon.   AR - augmented reality isn't either. Machine learning won't imminently disrupt this.   And that is, that… everyone expects more long-term inflation. At what rate, no one knows.   People will need to live somewhere… and there are not enough places to live.   Those three facts, right there, are so simple. I love simple. Ha! One reason I love simple things is that I can remember it.    So many investors - investors in all types of things, say, from tech EFTs to junior mining stocks to crypto - you can make money there.   But, at times, investors will unnecessarily go out on the risk curve and GUESS and speculate… at a future trend.    Some are right. They're often wrong, and adopting too much of that approach… that's exactly when your risk-adjusted return goes down throughout your investor life.   Instead, you can get great returns - real estate pays 5 ways-type of returns - in these trends that I just described that are near certainties.   Why guess? When instead, you can almost be certain.   Often times, the certain thing is right… there.    It's often easier, like I think I brought up on the show once before, inspired by Jeff Bezos - don't ask what will change in 10 years.    The more insightful question and profitable question that fewer people think to ask is actually - “What will be the SAME in ten years?”   Well, when we talk about rents and the fact that tenants WILL keep paying you to live somewhere ten years from now, the trend that's taking place here in the mid-20s decade - here in the mid 2020s, is that… Rents are increasing the most where there hasn't been enough new supply added - up 5-6% in parts of the Northeast including New York and Boston - Seattle too… and parts of the Midwest. Detroit and Honolulu rents are each up about 5%.   Rents are decreasing the least, and even declined - where they've added lots of new supply recently, like Austin, Texas and Miami, where they're down 3% or more in each. New Orleans is another major city that's down - at minus 1%.    But among the larger cities, Austin, Texas is the WORST performer in the nation right now.   If you're listening to this either this week or you're listening to this ten years from today, if you want to know future rent trends, look at where they're adding supply.   Especially in apartments. But all these new apartments will fill up and nationally, they're building fewer apartments this year than last year's apartment-building boom.   When we talk about rents and who owns SINGLE-FAMILY HOMES, there are a few myths that I want to help bust for you here.   There seems to be this misconception or misinformation that GIANT Wall Street firms are buying up all the SFRs. That's just not true.    Now, there is more participation from the big firms than there has been historically, but those that own 1 to 9 SFRs… which is our definition of mom & pop investors here… constitute 80% of the SFR market.   80% own one to nine units. Now, you might own more than 9.    In fact, 14% are in that next tier up, owning 10 to 99 SFRs. Then 3% - known as small national investors own between a hundred and a thousand.   And, what's left, the big institutional investors - those that own 1,000+ SFRs - and you've heard of some of these companies - Invitation Homes, and another is American Homes 4 Rent.    Progress Residential, Blackstone, First Key Homes  - all those big players own just 3% of the market.   So again, 80% are the small ones - the mom & pops… a highly fractured market.   There are a total of 82 million SFHs in the United States. Out of all of them, do you have any idea what percent are OOed and how many are rentals?   It's 83% OOed and 17% of the single-families are rentals. So about one-sixth of SFHs are rented out.   Now, here's the thing. Some people tend to think of mom and pop single-family rental operators as unsophisticated charity case workers who never raise rents.    That's part of the perception out there.    But that narrative has never really been true, and, in fact, the COO of American Homes 4 Rent - his name's Bryan Smith - recently brought up this key point on their recent earnings call.   He said that while historically mom and pops hadn't always priced directly to market because of a lack of market data, "they've migrated into a strategy that's closer to ours."   How is this and why is this? Anymore, why ARE mom & pops raising rents just about as aggressively as the big institutional players.    It's really increased transparency on the rents that landlords are asking… through internet listing sites like Zillow.    It's not that mom and pops didn't increase rents before. (I mean… just look at what happened with rising rents in the 1970s and 80s before institutions were in the sector.)    But when there's a lack of rent amount transparency, it takes longer for operators to discover and adjust to market pricing-- especially for smaller players in a deeply fragmented market.    That's the part that's changing.   But see, increased transparency works both ways. It's good for you and bad for you as a property investor.   This information helps tenants too. In upswing markets, operators may push rents faster than they would otherwise.    But in a downswing market, operators may cut or keep rents flat faster in order to lease the unit.    Because tenants can easily see what other LLs are charging and compare features. When you price too high, units sit vacant and generate no income.   Since renters benefit from increased transparency too, if they see two similar homes, they're usually picking the better deal.   And increased transparency is why NEW lease rent growth is cooling off.    In fact, CoreLogic just released their latest SF Rent Index report last week. It showed that, nationally rents are up 3.4%, which coincidentally, happens to be the same as the latest CPI inflation number.   Detached properties are seeing more rent growth than ATTACHED ones - like townhomes. If you think about it, that makes sense. Townhomes are in less demand now.   Because the homeownership dream, is when one moves out of the apartment & buys a detached house.    And since that's so unaffordable to buy here in the 2020s decade, that's why more people are willing to pay more for to rent the detached type.   Note that SFR rent growth has moderated since mortgage rates spiked-- further dispelling the sticky myth that rents boom when home sales fall.   Remember - when homes price growth is really hot - like it was in 2021 and 2022 - near 15% - rent growth tends to be hot too. It was ALSO near 15%.   And when home price growth is moderate, like it is now, well, rent price growth is moderate too.   Prices and rents move together. They're POSITIVELY correlated. Some people think they move inversely… and we're looking at history over hunches again - what REALLY happens here.   So though you're almost certainly going to get nominal rent growth over time, it's not a good thing for you to count on it in the short-term - it NEVER is, in any era.   The time for you to push rents is, of course, in any market, when you go for NEW leases. A new lease with a new tenant is going to be higher than a renewal lease.   It's the ol' - this has been a good tenant for three years, so I don't want to push the rent too hard & lose them.    To review what you've learned today, inflation is affecting ALL of your investments, 30-year FRMs are a UNIQUE American advantage…   …it's wise to invest in future trends that are KNOWN, if you want to know what is going to happen with rents in the near future, look where they've added supply.    Less new supply correlates with more rent growth… and large institutional investors own just 3% of SFRs.    If you enjoy the show, please, tell a friend about it.   Isaiah on LI had the most flattering comment. Over there, he wrote and called GRE “The best podcast on the planet.”    I… really don't think that I can take credit for that, though… I'd like to think we're a good resource for building your wealth through REI and regularly informing you, giving you ideas that you've never thought about before that add real value to your life.   You've heard of Bidenomics. The first portmanteau type that I ever heard about a President's economic policies is REAGANomics, though it was a little before my time.    Here on the show next week, with us, will be none other than “The Father of Reaganomics”.    Yes, late President RONALD REAGAN'S Budget Director will be here next week. Basically, he was Reagan's “Money Guy”.    His name is David Stockman and he often met with the President in the Oval Office, advising Reagan on economic affairs.   I have asked David Stockman, if besides talking about the condition of today's economy next week, he'll also discuss real estate - and he agreed to do so.    That's “The Father of Reaganomics”. You can look forward to he & I together next week here on the show.   You might be one of the listeners that's been here every single week since 2014 - just like I've been here for you.     A new podcast is published every Monday. If you want more our DQYD E-mail Letter is published and sent about weekly, that's typically been on Thursdays lately. Then, there are many new videos published each month over on our Get Rich Education YouTube Channel. Those are the main three places that you can find us.   Until next week, if you enjoy listening, I really appreciate if you would told a friend about the Get Rich Education Podcast.    Until then, I'm your host, KW. Don't Quit Your Daydream!