A smart and integrated approach to enterprise risk management (ERM) can be the “silver bullet” that drives an organization’s performance to new levels of success. However, excellence in ERM practices is not easy to achieve—if it was, all organizations would already be doing it. Internal controls often have a bad reputation amongst business operational managers, often being seen as impediments to “getting the job done.”
Plus, with executives and business managers leaning towards a “pay the fine and move on” attitude or being focused on their own mandate, it has become increasingly challenging for those responsible with safeguarding their organization’s risks. It has become obvious that failures in risk management processes can cause serious damage to an organization, financially and reputationally. But, there is a smart approach to manage risk and compliance processes that makes good business sense and keeps everyone at all levels happy.
This publication highlights:
- 7 key trends in the “era of ERM”
- 6 characteristics of data-driven, performance-enhancing ERM
- The ERM process flow that will help you identify, respond, monitor, and manage risks, report on results, and continuously improve the process
- Self-Awareness–take a simple test to identify if you’re making common (and risky) ERM errors