Oct. 13: Costco Executive Speaks About Risk Management

PULLMAN, Wash., Oct. 2 -- Washington State University issued the following news release:

Dellanie Fragnoli, Costco Wholesale assistant vice president of risk management, will present "What I Did on Summer Break: Recalls, Renewals and Wrecks" at the 22nd annual Walton Lecture 5-6 p.m. Monday, Oct. 13, in the Carson College of Business, Todd 130 at Washington State University. The Walton Lecture is free to the public.

As America's second largest retailer with $110 billion in annual sales and 180,000 employees, Costco Wholesale Corp. faces diverse risks every day--from low severity issues of consumer claims and worker's compensation to big picture issues like reputational risk and cyber security. Fragnoli will discuss risk management practices within a global company and the day-to-day reality of being the risk manager for one of the world's largest retailers.

Fragnoli says she became involved in risk management by accident. She earned a degree in economics from California State University, Fullerton. After graduating, she began working for a utility company in Southern California, moving into their risk management department within six months.

Six years later, she moved to Price Club, which merged with Costco in 1993. At that time, she was named risk manager for the combined companies. She has been with Costco nearly 23 years.

She says variety is what she enjoys most about her career: "Every day is different. When you are as big as we are, there is something happening somewhere in the world. What I enjoy most about risk management is the diversity."

Her career history includes: assistant vice president, Costco International Wholesale Corp.; assistant vice president of insurance services, Costco; assistant vice president of risk management, Costco; member services department, Costco; risk management department, Costco; and senior risk analyst, risk management department, Southern California Edison Co.

She received the Christy Award in 1991 for earning the highest score in the nation on the Associate in Risk Management exams offered by the American Institute for Chartered Property and Casualty Underwriters. She is active in the Washington Chapter of the Risk and Insurance Management Society.

Each fall semester, the Walton Lecture brings a distinguished leader in the insurance and risk management field to campus to share professional perspectives with students. The lecture is hosted by the WSU Carson College of Business'Department of Finance and Management Science and made possible through an endowment from the Independent Insurance Agents and Brokers of Washington. The endowment honors Max Walton, the group's past-president.

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