Enterprise Risk Management (ERM)

Enterprise Risk Management (ERM)

Feb 11, 2019

Enterprise Risk Management (ERM) is an integrated and continuous process for managing enterprise risks – including strategic, financial, operational, compliance, and reputational risks – to minimize unexpected performance variance and maximize intrinsic value. This process empowers boards and management to make more informed risk/return decisions by addressing fundamental requirements with respect to governance and policy (including risk appetite), risk analytics, risk management, and monitoring and reporting.

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 manages risk through:

    1. Recognizing culture
    2. Developing capabilities
    3. Applying practices
    4. Integrating with strategy setting-setting and performance
    5. Managing risk to strategy and business objectives
    6. Linking to value

Our Guide to Risk Domains introduces and defines other critical and current risk domains – download here.

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