Enterprise Risk Management

For Boards & Executive Teams

ERM-diagram-1

 Why Enterprise Risk Management?

Commonly referred to as “ERM”

Recent events highlight the need for more proactive and direct engagement over and above traditional oversight of risk management processes…does management have a robust framework and comprehensive process to assess risk …by identifying and proactively addressing risks, companies can improve performance and protect and create value for shareholders…

CICA 2012 “A Framework for Board Oversight of Enterprise Risk”

Achieving an organization’s strategic objectives requires planning which considers, amongst various factors, management of business risks.
Virtually all Board, Audit and/or Governance Committee charters require oversight of the process taken by management to identify, assess and manage the principal business risks of the organization.
One obstacle has prevented rapid progress of formalized risk management: not knowing where to start. Fortunately, for those organizations attuned to properly addressing key risks through a thoughtful management process, many tools now exist.

“If you successfully implement all 11 principles contained in ISO:31000 you will achieve effective risk management”.
– Chris Peace, former deputy chair of the New Zealand Society for Risk Management.

“In order to maximize the value proposition of any organization, if not to ensure its survival in the current turbulent economic conditions, organizations should ensure that they have in place an effective risk management program by developing, implementing and continuously improving a framework with the objective of integrating the process for managing risk into the organization’s overall governance, strategy and planning, management, reporting processes, policies, values and culture of the organization.”

Awad Loubani, the Chair of the Canadian Standards Association

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Let us help your organization identify, assess & manage your risks. Give us a call and find out more.