ERM Tool: Organizing Management-Level Risk Committees & Risk Owner Discussions

As organizations expand their focus on enterprise-wide risk management (ERM), many are finding value in forming management-level risk committees to enhance oversight of critical risks. These committees, comprised of cross-functional business leaders, play a crucial role in fostering robust dialogue about risks and ensuring alignment across the organization.

Our ERM Tool: Organizing Management-Level Risk Committees & Risk Owner Discussions offers a step-by-step guide to help ERM leaders make their committee meetings more impactful and actionable. Whether you’re establishing a new risk committee or refining your existing process, this resource equips you with the strategies and templates needed to streamline discussions and ensure critical risk and management priorities are addressed.

The Role of a Risk Committee in Effective Risk Management

A risk committee serves as the backbone of an effective ERM process, providing a structured platform to:

• Discuss top risks facing the organization.
• Evaluate the effectiveness of current risk responses.
• Monitor risk profiles and identify emerging issues.
• Foster collaboration across departments to ensure an enterprise-wide view of risks.

With representation from key business leaders, a risk committee enables executives to gain a broader perspective on the organization’s risk landscape, ensuring that risk management decisions align with strategic priorities.

How to Use the ERM Tool

This ERM tool is designed for flexibility and ease of implementation. Here’s how you can get started:

1. Download the Tool: Access the PDF to view the full agenda template, discussion guidelines, and principles for effective engagement.
2. Customize for Your Organization: Adapt the agenda and templates to fit your committee’s unique needs and focus areas.
3. Prepare Risk Owners: Share the guidance with risk owners to help them structure their presentations effectively.
4. Facilitate Meaningful Discussions: Use the provided questions and principles to guide committee meetings and ensure actionable outcomes.

How This Tool Enhances Risk Management

By implementing this ERM tool, organizations can:

• Improve communication about risks across leadership teams.
• Ensure risk discussions are data-driven and focused on actionable insights.
• Promote accountability and collaboration in managing critical risks.
• Elevate the overall effectiveness of their risk management strategy.

For example, the tool’s agenda template provides space for discussing trends in the organization’s risk profile, allowing committee members to identify shifts and emerging issues proactively. Additionally, the focus on risk owners’ presentations ensures that critical risks are evaluated thoroughly and consistently.

Download the ERM Tool Today

Ready to strengthen your organization’s risk and management processes? Download the ERM Tool: Organizing Management-Level Risk Committees & Risk Owner Discussions now to access templates, guidance, and best practices for creating more impactful risk committee meetings.

For more tools and templates, visit our ERM Resource Center.