Sheila Small, Verizon's assistant treasurer of risk management and insurance, has been selected as a 2010 Risk Innovator by Risk & Insurance magazine for her work in restructuring the financing of the company's workers' compensation program.
"Sheila Small proved herself to be a smart and innovative risk manager by consolidating Verizon's corporatewide workers' compensation program into a captive insurance company," said Paul Bomberger, editor-in-chief of Risk & Insurance, which sponsors the annual Risk Innovator awards. "Her strategy led to Verizon saving tens of millions of dollars. We are proud to honor Sheila as a 2010 Risk Innovator."
In addition to her involvement in Verizon's workers' compensation, Small is also responsible for the corporation's global risk management program, including international operations, and risk management programs at Verizon Wireless. She is also president of two Verizon-owned captive insurance companies - one in Vermont, the other in Rhode Island.
"I'm proud of what I do each day at Verizon and sincerely appreciate the recognition not only from my peers inside the company, but also those on the outside including the editors and panel of judges at Risk & Insurance magazine," said Small. "With a challenging economy, it's critical that all of us continue to look for ways to be more efficient, more productive and committed stewards of our industries."
Prior to entering risk management in 1990, Small held various engineering and finance positions at Bell Atlantic and New Jersey Bell.
The Risk Innovator designation was created three years ago by the publication to identify key individuals who see risk differently and resolve risk-related problems in unique or innovative ways.
To be considered for the award, individuals must have demonstrated excellence in identifying and overcoming risk or detailing how risk analysis can lead to the development of practical solutions that improve the business or organizational performance.
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 92 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.