Risk and Reward

Setting a High Bar for Readiness

Kyle Bianco views the world through a risk-informed lens. As senior manager of TVA Enterprise Risk Management, he immerses himself in the “what-if" scenarios and makes sure there's a plan for every possible outcome.

It's a difficult job, distilled into one strong mantra: "We help manage uncertainty," Bianco said.

He begins his days evaluating the latest industry news, global developments and any other event-making headlines.

"We try to be constantly aware of things happening externally and how they could affect us internally," he said. "We identify and prioritize risks and assess how they could impact our ability to serve our customers."

TVA’s Enterprise Risk program is award winning. This year, TVA won the prestigious Enterprise Risk Management Global Award of Distinction from the Risk Management Society, a leading industry group.

To help TVA manage enterprise risk, Bianco and his team drill down and study the drivers that could cause risks to materialize.

Working one-on-one with each business unit at TVA, they develop customized workshops and risk portfolios that outline a strategic response to the most impactful risks. Every year, these portfolios are updated based on what's going on in the agency and the world as a whole.

"This collaboration helps to decrease our risk exposure and evaluate and mitigate impact on a financial, operational, reputational and safety basis," he said.

The work touches a myriad of teams across TVA.

When extreme weather threatens the system, for example, TVA’s Enterprise Risk Management framework helps leaders understand the web of drivers and impacts, ensuring they can identify which parts of the fleet are most vulnerable and determine how the weather events might cause additional issues, such as safety incidents or environmental concerns.

Understanding all aspects of an unexpected event helps ensure the response meets customers’ needs.

And Bianco considers himself one of those customers.

"I work for TVA, yes, but I'm also a resident of the Valley region," he said. "What I do for work directly affects me and my family. Risks that could impact the business ultimately impact me."

The topic of risk goes hand in hand with business planning because risk not only informs strategy – it helps write the game plan.

Understanding vulnerabilities allows TVA to allocate resources, ensuring the enterprise can continue to serve uninterrupted power to the region.

This work has not gone unnoticed. This year’s award from the Risk Management Society proves TVA’s approach is best-in-class. Bianco will even be featured in an upcoming issue of the organization’s magazine.

"This award represents excellence," Bianco said. "There were an unprecedented number of applicants, and our processes and programs stood out.

“It is a testament to the work that the current team has done – and the individuals who came before us. We are leading workshops and having important conversations. We've been recognized, and now the industry knows who we are."

But Bianco knows the culture of risk. It's a moving target that requires continuous improvement.

"The environment of risk is always evolving,” he said. “And new risks are always emerging. But I'm a problem solver at heart, so this job is a good fit for me.”

Bianco’s mind – and feet – are always on the move.

If he’s not engaging in stimulating conversation with his wife about her job as a vet, he’s lacing up his running shoes to exercise – or keep up with his two small children.

“My wife and I both are very driven in our careers,” he said. “It’s nice to come home and share about our days – their differences and their challenges. It brings such meaning into our conversations. I like that.”

On hand for presentation of the Enterprise Risk Management Global Award of Distinction were, from left, Suzanne Christensen, chair of the RIMS Strategic and Enterprise Risk Management Council (SERMC) and Senior Vice President and Head of Enterprise Risk Management at Franklin Templeton Investments;  Karthick Dalawai, SERMC awards sub-committee member and Chief Risk Officer of Penn Mutual Life Insurance Company; Gary LaBranche, CEO for RIMS, the risk management society; Kyle Bianco, senior manager, Enterprise Risk Management at TVA; Audrey Gibson, analyst III, Enterprise Risk Management at TVA; Jodie Birdwell, director, Enterprise Risk and Assurance at TVA; and Steve Lloyd, senior program manager, Enterprise Risk Management at TVA.