ERM governance

ERM on a budget

ERM on a Budget: It is Possible! – 7 Key Considerations

When I started my consulting firm in August 2016, I knew I wanted to help organizations perform better by using enterprise risk management (ERM) instead of just traditional risk management. After all, I know how well ERM can work when done right and how much the organization can benefit from it. But as a start-up,…
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3 Ways to Mature your ERM Program and Why They’re All Bad

In a nutshell, ERM can be a powerful tool for ensuring executives are making risk-informed decisions and limited resources are being used in the most efficient manner. Unfortunately, this isn’t something you can simply wish for and it’s done. Getting an ERM program to this point requires time and LOTS of patience and diligence. There’s…
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erm resources

5 Simple Steps to Free Up In-house ERM Resources

Odds are you have more risks to manage this year, but not enough resources to do it sufficiently. In fact, here are a few startling statistics from NC State’s 2017 report, The State of Risk Oversight: An Overview of Enterprise Risk Management Processes:  70% of large organizations interviewed believe the volume and complexity of risks…
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ERM and Internal Audit: The Right Relationship

There is much discussion and debate about how Internal Audit and Enterprise Risk Management (ERM) should be connected. Some say ERM can be embedded within the internal audit group. I don’t fall in this group. Internal audit standards say that internal auditors should be objective and not unduly influenced. In other words, independent. I have…
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Top 5 ERM Insights Posts You Need to Read Today

It’s hard to believe it’s been close to 9 months since I launched the ERM Insights by Carol blog. I hope you’ve been enjoying the content as much as I’ve enjoyed putting it out there. If this is your first time visiting the blog, welcome! I also want to say thank you to all of…
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An Enterprise Risk Management Program is NOT One-size Fits All

Designing an ERM program involves a lot of experimentation based on your company’s leadership, culture and operations The board and/or executives have decided to establish an enterprise risk management (ERM) program.  You have been given the responsibility of designing an ERM program for your organization and have established that they are in it for the…
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Is the Enterprise Risk Management Process in Shambles?

I recently wrote two articles referencing the latest report from the Enterprise Risk Management (ERM) Initiative at North Carolina State University, in partnership with the American Institute of Certified Public Accountants (AICPA).  Their 8th State of Risk Oversight report provides an overview of ERM practices for a variety of industries. This report continues to provide…
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4 Possible Paths Your ERM Program Can Take

Setting up an enterprise risk management (ERM) program is just the beginning of a continuous process to help your organization achieve strategic and operational objectives. Like many things in life, this is easier said than done… Companies will establish an ERM program for a variety of reasons – perhaps a simple question from a board…
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