erm program

ERM framework

ERM Framework vs. ERM Process – Understanding the Difference

In the vast arsenal of materials discussing enterprise risk management, words are thrown around that may be unclear to novice risk professionals or executives unfamiliar with ERM. While I intuitively know the difference between an ERM framework and process, the random use of these terms can lead to confusion for some. If you’ve read my…
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The Future of ERM – Grooming the Next Generation

As ERM professionals, we are always looking toward the future. The core of our job is to ensure executives are making risk-informed decisions in establishing and pursuing strategic objectives. Our goal isn’t to avoid risk but to help companies take intelligent risks to ensure success. Since our profession should focus on the future, the recent…
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What are Organizations’ True Barriers to Implementing ERM?

My posts for this month (May 2019) have focused on results from the 2019 State of Risk Oversight report from NC State. Each of these posts (see here and here) not only reported survey results but also included additional commentary based on my experience. Up to this point, I had no reason to challenge anything…
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risk volume complexity

Organizations Across-the-Board Report Increasing Risk Volume and Complexity

In my first post analyzing NC State’s latest State of Risk Oversight report, we discussed how more organizations are designating a Chief Risk Officer. In this post, I want to take some time to discuss another significant observation from this year’s survey – the volume and complexity of risk. The ERM Initiative in partnership with…
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Chief Risk Officer

Chief Risk Officer: An Increasingly Vital Role in Effective Risk Oversight

The 2019 State of Risk Oversight report from NC State recently came out with some interesting results about the current state of risk management leadership in organizations. The report breaks down results into four different industry-categories – large organizations, public companies, financial institutions, and not-for-profit. Over the last five years, nonprofits have seen the biggest…
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Why ERM Often Fails to Add Value to Decision-Making

Podcast: Play in new window | DownloadYou are working hard to help your organization build an effective enterprise risk management program. You’ve spoken with all the business units, identified their significant “risks” and assessed them, come up with numerous risk registers, developed detailed risk reports for executives, and so on. Yet, people still don’t seem…
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COSO ERM Framework – Background & Overview

The COSO ERM framework is one of two widely accepted risk management standards organizations use to help manage risks in an increasingly turbulent, unpredictable business landscape. We previously discussed the background and a general overview of the other commonly used ERM framework, ISO 31000. COSO, which is short for the Committee of Sponsoring Organizations of…
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