What impact would a particular risk have on VTG, its assets and its employees? How likely is it that a risk will occur? And what would be needed to make a risk manageable? These are the questions that Paul Weinrich – in cooperatoin with other colleagues – is dealing with in his new additional role as Corporate Risk Manager.
He has been coordinating risk management at VTG for a year now. “The aim is to identify all types of risk that are relevant to our company in order to obtain a comprehensive and transparent overview,” he explains.
The risk areas range from our products, i.e. our fleet and wagon safety, to legal aspects, for example guidelines, regulations and compliance, and environmental issues.
~ 60
risks
are currently affecting VTG
“For the latter, it is partly about our responsibility to protect people and the environment, but also about external factors, such as risks from climate change,” said Paul.
Risk-conscious behavior as standard
But how did it come about that a central VTG risk management system was set up last year? “In the past, the focus when assessing risks was mainly on finance-related topics,” explains Paul. This included, for example, the solvency of customers. “In addition, risks were only reported quarterly and were usually dealt with directly in the departments.” This can have advantages, but it also leads to isolated solutions.
Do you want to delve deeper into the topic of risk management?
On VIBES, you can find a detailed insight into risk areas, risk assessment and risk treatment in the compliance and risk management guidelines:
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“To move away from this and make risk-conscious behavior the standard across the company, VTG has decided to incorporate risk management into its daily business,” he explains. Paul plays a central role in this, as the primary point of contact for questions about risks and for support with risk assessment. He also provides support in defining and monitoring measures and is responsible for reporting and documentation.
Commitment from day one
And as with many things, risk management is a joint effort. “Risk management at VTG works like a cogwheel system, with each level interlocking with the next,” he explains. “First of all, all employees should keep their eyes open and report possible risks to the SLT member responsible for them.”
“Risk management at VTG works like a cogwheel system, with each level interlocking with the next.”
Paul Weinrich
The senior leader then informs Paul, and together they take care of the documentation in JIRA. This ensures a clear flow of information from the employee level to the audit committee of the VTG advisory board.
Introducing such a comprehensive approach into a company often comes with its challenges. “Fortunately for us, the only challenge we faced was getting appointments with all the colleagues at the SLT,” jokes Paul. On the other hand, there were no challenges in terms of understanding the new approach. “On the contrary,” he adds. “The SLT members were very committed from day one and proactively filled the new system with risks from their areas and updated it.”
Paul’s tip for successful risk management:
“At VTG, we take a pragmatic approach – no endless Excel spreadsheets, but a JIRA ticket system for clear tracking. I also encourage open communication so that risks can be identified and assessed at an early stage. This is how we stay agile and risk-aware!”
Many positive changes
And just one year after the introduction of systematic risk management at VTG, there are already positive effects. “Risks are now made accessible to all relevant stakeholders, and updates are shared quickly and directly,” says Paul. “This means that risks can be actively mitigated or even eliminated.”
“It is important that we constantly evolve – and listen to feedback!”
Paul Weinrich
A rolling stone gathers no moss – this also applies here. “The world is constantly evolving, and so are potential risks,” says Paul. “That’s why it’s important that we listen to feedback from our colleagues and constantly evolve.” Only in this way are we prepared in the event of an incident – not just in theory, but also in practice.
3 questions for… Paul Weinrich
Security is his daily bread: Paul not only takes care of risk management at VTG, but is also our guardian of data protection and information security! He began his VTG career more than a decade ago. We therefore looked back with him on 10 years of VTG and ventured a look into the future.
Are there any special moments or projects that you particularly like to remember over the last ten years?
Over the last ten years at VTG, there have been many special moments and projects that I look back on with fondness. During my apprenticeship, I had the opportunity to get to know different departments and meet many colleagues – many of whom are still here today, ensuring great teamwork.
I particularly enjoyed my semester abroad in Finland, near the Arctic Circle, and my time at the Waggonwerk Brühl, where I used a thermal imaging camera on the workshop premises for my bachelor’s thesis. Another highlight was the six months I spent with my colleagues in Joigny: a great team and a completely different environment from here in the north – especially in terms of temperatures (keyword: 45°C outside!).
But above all, it is the many great people who have made my time at VTG so special. One moment in particular stands out in my memory: two years ago, a colleague asked me when I would actually finish my apprenticeship. I take it with a sense of humor, because apparently I have held up well!
What changes or developments in the company have you witnessed during this time and how have they influenced your work?
Over the past few years, I have seen a number of changes at VTG that have affected my work in different ways. In the past, the dress code was much more formal – a suit and tie were the norm (who still remembers the company ties with the VTG logo?). Today, the dress code is more modern, which makes the overall working environment appear more relaxed. Communication has also changed: whereas the formal “Sie” was once the norm, the informal “Du” has now become the norm. This creates a more open and personal atmosphere, even when working with completely new employees.
A lot has also changed in terms of technology. I still remember my time as an apprentice, when we had to wait up to two hours for our desktop computers to boot up on the first day in a new department before they were ready for use. Today, the systems are much more efficient, which not only makes the daily work of our Young Talents easier.
Another change concerns the work processes: in many departments, my Friday afternoon (or even the whole Friday) was reserved for paper filing. Today, this is hard to imagine!
When you think about the next few years, what goals or aspirations do you have for your future time at VTG?
When I think about the next few years, I hope that we will continue to treat each other fairly and enjoy our work. Clear communication of decisions is particularly important to me in order to ensure that we all pull in the same direction. I look forward to working closely with my colleagues, especially in our new building, where we will hopefully quickly feel at home. I am also excited about the possibilities that the use of artificial intelligence will bring – perhaps even in ways that we cannot yet imagine.
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