Manage your highest risk areas by embedding an enterprise risk management (ERM) program throughout your organization’s operations.
ERM programs can help reduce risks and develop a strong foundation for strategic, thoughtful responses during unexpected events.
ERM programs take a comprehensive approach to your organization rather than solely reviewing risks of a single department or branch. Focusing on data and performance metrics, a strong ERM program provides analysis of risks organization-wide and assesses how they could impact the organization in various ways.
How ERM Programs Help Protect Your Organization
An ERM program can help your organization:
- Improve Operations. ERM programs provide consistent oversight and track risks that may disrupt operations.
- Strengthen Financial Performance. Managing issues visible to business leaders is more cost-effective than trying to manage through a crisis.
- Focus on Metrics. ERM programs embedded in operations provide visible metrics and accountability that further drives performance.
- Develop Risk Identification Culture. ERM programs drives awareness of issues in a business and can prioritize risk identification and tracking throughout an organization.
Address Key Risk Areas
ERM programs provide a clear view of variables to which you may be exposed—whether internal, external, retrospective, or forward-looking—with enterprise risk assessments identifying risks across key exposure areas:
- Financial
- Operational
- Reporting
- Compliance
- Governance
- Strategic
- Reputational
Risk management procedures can support organizations of any size and are often especially beneficial to those in select industries including:
How the Process Works
Every organization’s risk assessment standing is different. Our professionals collaborate with your leaders to develop and scale programs for your unique needs and organizational depth.
We only recommend components that will benefit your organization and provide support to organizations that may not be ready for a full program.
ERM programs follow the Committee of Sponsoring Organizations of the Treadway Commission (COSO) risk management components of:
- Governance and Culture. Establish organization’s culture, oversight, and responsibility for ERM.
- Strategy and Objective-Setting. Evaluate and align risk appetite to organization’s overall strategy and business objectives.
- Performance. Identify and assess risk that affected overall success of strategy and business objectives.
- Review and Revision. Analyze and review the ERM program over time.
- Information, Communication, and Reporting. Launch ongoing process of information sharing, from both internal and external sources.
Expansive Risk Management and Industry Experience
Deeply immersed in more than 30 industries, our professionals provide solutions specific to the nuances, challenges, and operations of the sector in which you work—while customizing plans to meet your unique needs.
Our one-firm approach allows your organization to tap into the full resources of our firm, integrating guidance and solutions related to other integral support areas.