Is ERM yet another compliance exercise or can it drive meaningful value for your organization?
Is ERM yet another compliance exercise? Can it drive meaningful value for your organization? Enterprise Risk Management (ERM) is “the culture, capabilities, and practices, integrated with strategy setting and its performance, that organizations rely on to manage risk in creating, preserving and realizing value.” ERM provides an overall framework for risk management – for identifying particular events or circumstances relevant to the organization, assessing their likelihood and magnitude of impact, determining a response strategy, and monitoring risk status over time. Are you leveraging ERM to develop capabilities that enhance decision-making and in turn, create and preserve value?