Risk Leadership on the Construction Frontlines with Cynthia Garcia

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Employee ownership's impact on risk decisions

Cynthia explains how 100% employee ownership encourages disciplined, long-term risk decisions benefiting fellow owners.

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Episode notes

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

In this episode, Justin interviews Cynthia Garcia about her career journey. She credits mentors and sponsors for paving the way for her success. Justin and Cynthia discuss the demands of the Chief Risk Officer role and how Cynthia works with stakeholders who have competing priorities. Cynthia shares her perspective on construction risk and safety. She is seeing more diversity in the rising generation of risk professionals, with amazing opportunities for all.

Cynthia shares how her Confucianist upbringing still makes it a struggle for her to receive recognition. Despite that, she posted on LinkedIn about receiving the 2025 Bill McIntyre Leadership Award at the International Risk Management Institute (IRMI) Construction Risk Conference. That post led Justin to reach out to her. Cynthia speaks of her involvement with the Spencer Educational Foundation, including being a Risk Manager on Campus. Justin and Cynthia talk about the March 6th Webinar, "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management", that she joins as a featured panelist.

Listen for tips on careers in risk management for construction.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:16] About this episode of RIMScast. Our guest is Cynthia Garcia, the award-winning Chief Risk Officer for Bernards. We will talk all about her career in construction risk and get some "inspirado." But first…

[:44] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep.

[:55] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course.

[1:02] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo.

[1:20] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops.

[1:27] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker.

[1:42] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise.

[1:53] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes.

[2:14] On with the Show! Our guest today is Cynthia Garcia. She is the Chief Risk Officer for Bernards.

[2:22] Cynthia made a big impact on the risk landscape in 2025 when she received the Bill McIntyre Leadership Award from the International Risk Management Institute during its Construction Risk Conference.

[2:35] I wanted to learn all about her career and what it's like to be the risk officer for a major construction company.

[2:42] Earlier, I mentioned the March 6th RIMS Webinar, "Hard Hats and High Stakes," and Cynthia will, in fact, be the Chief Risk Officer mentioned there.

[2:51] If you like what you hear in this episode and want to learn more about career development, construction risk, and why rising risk professionals should seize the opportunities in the construction sector, you can register for that Webinar.

[3:04] Cynthia is a fascinating individual, and I am so pleased to present this interview! Let's get to it!

[3:09] Interview! Cynthia Garcia, welcome to RIMScast!

[3:27] Justin and Cynthia are going to be collaborating on a RIMS Webinar on March 6th, "Hard Hats and High Stakes." It's all about how women have and can continue to thrive in construction risk management. Cynthia is the ideal Chief Risk Officer to have on that panel.

[3:46] Justin thanks Cynthia in advance for being on that panel and being a guest on RIMScast.

[4:07] Cynthia is the CRO for Bernards, based in California.

[4:33] Like many in her generation, Cynthia stumbled into risk management. She started as an administrative assistant for Morley Builders, an amazing employee-owned general contractor in Santa Monica, California.

[4:52] She was fortunate to have several sponsors and mentors within the organization. They helped her see that she belonged at the table. They saw something in her that she hadn't seen in herself, which is the beauty of a mentor.

[5:16] In spaces she was not in, they advocated for her and said, Why don't we give this to Cynthia? That's the beauty of a sponsor. Cynthia says she was blessed to be in the right place at the right time. She was able to lean in.

[5:32] Cynthia says that the thing that attracts her about risk management and what she does is finding the hard yes. Risk management doesn't say, "No."

[5:50] Risk management, when practicing its craft, is fully integrated with operations and understanding what the business needs. It is strategically aligned and helps make sure the organization is making those thoughtful business decisions that allow taking risks.

[6:11] Then, risk management takes it to the next step to ask how this adds to our shareholder equity, how this aligns with who we want to be as a company and as people. Risk management threads the needle between entrepreneurship and "cowboyism."

[6:28] Risk management leads with "Help me understand, and help us get to the hard yes. We can do it, but here are some of the things we need to do to make sure that it's successful."

[6:50] Cynthia always likes to start by making sure she is coming in with a lot of curiosity. She asks for help to understand what she's not seeing to try to connect the dots. If Cynthia doesn't understand the needs of her business partners, she's not creating value.

[7:11] Cynthia joined Bernards as Chief Risk Officer four years ago next month (March). Bernards created the position for her. She says she's blessed to work with talented people. She credits an amazing group of rockstar individuals. She says a rising tide lifts all boats.

[8:00] Cynthia says her team carries the weight and does it beautifully. She says the genius of true leadership is understanding we're paving the way for our replacement. Leaders who are afraid of talent need to pause and rethink what that means.

[8:26] Cynthia's Risk and Safety team has 13 staff members.

[8:45] Cynthia has a VP of Risk and Safety who is definitely a genius at making the wheels turn. He is Cynthia's only direct report. He does an amazing job setting the tone and the pace.

[9:03] Cynthia says, We focus on listening to the voices of our internal and external customers. As an employee-owned company, we try to understand what our business partners need, whether it's accounting, finance, human resources, operations, or estimating.

[9:22] Cynthia focuses on what our business partners need from risk management to help achieve mission success.

[9:27] Cynthia says, from day to day, it's everything from safety to claims, to insurance issues, to coverage questions, but a fair part of the job is when business teams proactively reach out with questions about issues that have come up.

[9:50] Cynthia says the beauty of being in a smaller organization is that Risk Management is not siloed. It's not just insurance and claims but also litigation management and contracts. Risk partners closely with the CHRO on policies and employment practices.

[10:13] Risk partners closely with Finance and Accounting on a variety of issues. Cynthia feels it is fortunate that Risk is viewed and valued as an internal resource to its business partners and part of the critical strategy to achieve the company's goals.

[10:41] Bernards has a little fewer than 400 employee-owners. Cynthia credits Finance and Accounting for paying vendors on time and treating trade partners fairly. She credits Marketing for helping the brand, highlighting company accomplishments, and creating community buzz.

[11:30] Cynthia credits the very customer-centric Tech team, who have helped her a lot, and the Virtual Construction Design team, who help with clash detection and getting ahead of constructability issues early on.

[11:59] She notes the estimating team getting ahead of what's out there and making sure we have the right projects to go after. It takes a village.

[12:14] Cynthia says we like to think all of us employee-owners have a vested interest in mission success. We're all in construction.

[12:27] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals across the globe. It's time to Connect, Cultivate, and Collaborate with them.

[12:45] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges will be available starting on March 3rd. Links are in this episode's show notes, and be sure to check out RIMS.org for more information.

[13:04] Save the dates March 18th and 19th, 2026, for the RIMS Legislative Summit, which will be held in Washington, D.C.! Join us in Washington, D.C. for two days of Congressional meetings, networking, and advocating on behalf of the risk management community.

[13:20] Visit RIMS.org/advocacy for more information and to register. Also, check out the prior episode of RIMScast, Episode 378, featuring RIMS General Counsel and Vice President of External Affairs, Mark Prysock, as we discuss the top priorities for RIMS in 2026 and beyond.

[13:41] Let's Return to Our Interview with Bernards' Chief Risk Officer, Cynthia Garcia!

[13:58] When Cynthia joined Bernards, there were about 10 people on the Risk and Safety team. Then they went into remodel mode, with a different strategic vision. Continuous improvement is a Bernards core value. It's a 52-year-old company with processes and talent in place.

[14:27] Cynthia says we've been looking at the areas where we can have the greatest impact, picking off the low-hanging fruit first, and then building out processes that allow us to scale without reinventing ourselves every few years.

[14:57] Cynthia says safety is our priority. Bernards added safety to its core values this year. Cynthia says it was a grass-roots movement. It percolated up through Operations and said, This is who we need to be.

[15:24] Cynthia says a risk management team's job is to safeguard all the resources of the organization. That includes people and things, clients, and trade partners. The Risk and Safety team has a holistic view. They can't be good by themselves. They can't be safe by themselves.

[15:42] For Cynthia, safety takes on a larger meaning than physical well-being, including creating spaces where people are allowed to be vulnerable.

[15:57] Cynthia talks about leading with empathy, with top priority not only for physical safety but also for a psychologically safe environment, where you can show up, be seen, heard, and thrive.

[16:41] Cynthia says she works on building connections through conflict. For what could be tough conversations, it helps if you are willing to check your ego at the door and come in curious. Cynthia often states her intention up front.

[17:01] Cynthia might say, "My intention isn't to challenge you, it's to have you help me understand your perspective and help me see what I'm missing." Cynthia says she asks a billion questions because there is so much she doesn't know. She always tries to get with the "why."

[17:32] Cynthia says, When I try to understand what it is that my counterpart needs to happen, then we can figure out the path forward together. As employee-owners, our goals are aligned. We're looking in the same direction.

[17:52] Cynthia says, We may fuss with the GPS a little bit, but we know the destination is set and we have a commitment to one another. Once we are willing to shut up, listen, and ask the questions to learn, then we can figure out how to be of service.

[18:16] Cynthia says her job isn't to convince, it's first to understand.

[18:22] A Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September.

[18:51] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July.

[19:06] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th.

[19:18] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information.

[19:27] Let's Conclude Our Interview with Bernards' Chief Risk Officer, Cynthia Garcia.

[19:41] As Cynthia mentioned earlier, Bernards is employee-owned. Cynthia thinks that Bernards being 100% employee-owned makes all its employee-owners better businesspeople. The heart of risk management is making those good choices.

[20:27] Looking across the table and knowing she is betting with her fellow owner's retirement, makes Cynthia think about that a little bit differently. She thinks the employee ownership structure lends itself to amazing risk management.

[20:49] Cynthia says you have to be disciplined. You're not spending somebody else's money on this. We're working together, and when we all make good choices, we are ultimately rewarding ourselves and impacting future generational owners, too. That's quite meaningful.

[21:09] Cynthia says it's the best of both worlds. You have the umbrella of a big company paying the bills, but you're rewarded for smart entrepreneurism.

[21:27] Cynthia has a long-term view when making decisions. It's not about what's in it for her. It's how does this support who we want to be today, and who we want to try to be tomorrow? It makes us look further into the horizon.

[22:24] May 4th through May 8th, 2026, is Safety Week, here in the U.S. That coincides with RISKWORLD 2026. Cynthia will be at RISKWORLD.

[22:41] Cynthia says for Safety Week, Bernards has planned activities on each job site to highlight the good things that men and women are doing to build the communities in which they work and live, and doing them in such a way that they go home to families and loved ones.

[23:01] Justin notes that settlements from construction site accident injuries can be astronomical. Part of Cynthia's job is to minimize accidents from the outset, which connects to Bernards' core value safety-first mindset.

[23:34] Cynthia says client response has been amazing. Recently, one of the project executives at Bernards was invited to the school district and won an award acknowledging their efforts on safety. That felt good because it wasn't Bernards saying it, but the clients saying we see it.

[23:58] Bernards has trademarked "A Better Experience." It's a phrase they are proud of. They're building not only to create a better experience for their employee-owners, but also for project success for owners who value safety.

[24:15] Bernards is a large school builder, working on many programs up and down the state. Bernards is cognizant of the impact they are having on the future generation of leaders and citizens. They're very grateful to have that acknowledgement from their clients. It's special.

[25:29] Cynthia says she is absolutely seeing more opportunities for women in risk management and in construction. Construction tends to be inclusive. It's an industry filled with optimists. Its people bring that can-do attitude. They are very generous and gracious with their support.

[26:13] Cynthia says she has been in the risk profession for about 30 years. The demographics have changed, and she sees diversity in the new young talent permeating the industry.

[27:10] Cynthia thinks the work that the Spencer Educational Foundation does in partnership with RIMS is tremendous. She says it is amazing that colleges and universities are offering the Risk Management and Insurance degree and concentration. Cynthia never heard of that before.

[27:35] Cynthia says that people her age moved into risk management from adjacent areas. She is pleased that now people come into risk management intentionally. She talks about risk managers trying to figure out how to help businesses thrive and grow to the next level.

[28:47] Cynthia is one of Spencer's Risk Managers on Campus. She explains how the grants to colleges work. Spencer works tirelessly to make sure the next generation of leaders know what an amazing career this is and the opportunities it offers. Cynthia is grateful to be part of it.

[30:15] Justin mentions that other Risk Manager On Campus risk professionals have been guests on RIMScast, and they have inspiring stories to tell. They love reaching the young people who are going to be the future of the profession.

[30:35] Megan Miller, Spencer CEO, was a recent RIMScast guest. Check out SpencerEd.org for grants and opportunities. If you know somebody interested, send them the link to explore. If they connect with people like Cynthia through the RMOC grant, their experience will be richer.

[31:28] Cynthia came to Justin's attention through a LinkedIn post about her being honored as the 2025 Bill McIntyre Leadership Award recipient at the International Risk Management Institute (IRMI) Construction Risk Conference.

[32:08] Cynthia says you're always a little bit surprised but so pleased when you get acknowledged by your peers. As IRMI is pre-eminent in the construction risk management space, it was more special to Cynthia, as she knew of the great work they did.

[32:33] Cynthia remembers starting in risk management and going to them as a resource. She knows the people who make IRMI thrive. They're people Cynthia looks up to. She is very grateful that it was her turn to be acknowledged. She feels there are way more qualified folks out there!

[33:41] Cynthia says she is an immigrant. English is her second language. She is Korean and grew up in a Confucianist household. In terms of philosophy, you should be seen, not heard. The collective win is celebrated.

[34:06] Cynthia has had to work to get over the heebie-jeebies about self-promotion or what could be viewed as arrogance. She's working on it and doing better at accepting compliments. It's an opportunity to show others who are coming up behind her that diversity exists.

[34:45] Cynthia says it's hard for us to visualize ourselves in a role without models who came before us. What are the opportunities that exist? Can I also think about this? Cynthia said the marketing team is genius. Justin said that was what caught his eye on LinkedIn.

[35:19] Cynthia says she is very fortunate to be supported by so much talent and such a community that helps uplift you.

[35:27] Justin comments that the "seen and not heard" thing is not just Confucianism, but also old-world Brooklynism. His old relatives said, "Children should be seen and not heard."

[35:52] Cynthia says we all have shared experiences within our collective. People tend to focus on the differences. It is important to celebrate our differences, but there's so much more in common, regardless of the geography and the generation in which we were raised.

[36:10] There is so much in shared value. Cynthia says she is constantly inspired by those stories of people who saw a different future or leaned into a hand up. That motivates her to try to be better and drives her.

[36:35] Justin says posting is a networking opportunity too. If that post had not gone up, Justin would not have met Cynthia. It's a way to broaden your network and meet more people. Justin says it's OK to do a humblebrag. Justin is known as the shameless self-promoter.

[37:11] Justin says it is very special when you are acknowledged outside your company.

[37:20] Cynthia's post triggered a series of events, one of which is, in recognition of Women's History Month, RIMS will present the webinar on March 6th, "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management", with Cynthia as a featured panelist.

[37:38] Cynthia will provide the CRO perspective. Also on the panel are Danette Beck from Astrus and Jessica Risullo from WTW. Cynthia shares how she knows these amazing, trailblazing women. Cynthia is grateful to be on a panel with them. They're rockstars!

[38:47] Justin says it's going to be excellent! The link is in this episode's show notes, or visit RIMS.org/webinars. Megan Miller, the CEO of the Spencer Educational Foundation, will kick things off with a special introduction.

[39:15] It's going to be a wonderful way to observe and celebrate Women's History Month, ahead of RISKWORLD and Construction Safety Awareness Week.

[39:30] Justin thanks Cynthia for joining us on RIMScast, sharing with listeners her construction risk perspective and career path. There's a lot to take away. Justin thanks Cynthia for her perspective and her time.

[39:45] Cynthia says she appreciates Justin and the work RIMS is doing to put a spotlight on our amazing industry and the opportunities that exist. She says she is grateful for the opportunities Justin and RIMS are creating and thoughtfully curating.

[40:04] Special thanks again to Cynthia Garcia for joining us here on RIMScast. You can hear more from her directly on March 6th during the RIMS Webinar "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management".

[40:17] RIMS members, keep in mind that RIMS Webinars are complimentary for you. That is one of the many benefits of a RIMS membership. Visit RIMS.org/webinars and the link in this episode's show notes to register. That's going to be a fantastic session!

[40:34] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes.

[41:03] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information.

[41:21] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information.

[41:38] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[41:55] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[42:09] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org.

[42:21] Practice good risk management, stay safe, and thank you again for your continuous support!

Links:

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