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Lockheed exec named RIMS Risk Manager of the Year

Posted On: Apr. 13, 2021 12:00 PM CST

Michael Harrington Cheryl Lloyd

The Risk & Insurance Management Society Inc. on Tuesday named Michael Harrington, vice president-risk management and assistant secretary for Lockheed Martin Corp., as the 2021 RIMS Risk Manager of the Year.

As risk management lead for the Bethesda, Maryland-based defense contractor, Mr. Harrington has transformed Lockheed’s approach to risk management and enterprise risk management, RIMS said in a statement.

Under his leadership, risk management changed from being mostly an insurance procurement function that provided administrative and compliance support into a strategic department connected to the business, managing risk on an enterprise-wide basis.

Risk management also became part of Lockheed Martin’s emergency response protocol for cyber intrusions as well as an integral part of its COVID-19 response.

Mr. Harrington continues to lead a joint insurance effort between industry, NASA and the United States government to help reinvigorate the U.S. space program, RIMS said in the statement.

He formed a coalition of risk professionals and others across the Defense Industrial Base to explore key risk management issues that could cause delays and roadblocks for the space program while also leading the effort to reinstate NASA’s indemnity protection, RIMS said.

RIMS also announced this year’s risk management honor roll, which inducted Cheryl Lloyd, associate vice president, chief risk officer and vice president systemwide human resources for the University of California.

Both Mr. Harrington and Ms. Lloyd will be honored April 26 at the RIMS 2021 conference being held virtually this year.