Recent research conducted by faculty who lead the Enterprise Risk Management (ERM) Initiative at North Carolina State University reports a steady increase in the percentage of organizations that claim to have “complete ERM processes in place,” with larger organizations and publicly traded companies leading the way. The report, Current State of Enterprise Risk Management: Progress is Occurring but Opportunities for Improvement Remain, notes many organizations are embracing ERM due to “somewhat” to “extensive” pressure from external parties to provide information about risks. While the percentage of organizations embracing ERM is on the risk, the level of risk management sophistication still remains fairly immature for most responding to the survey. There may be opportunities for organizations to strengthen the connection between risk oversight and strategic planning, given that less than 20% believe that the organization’s risk management process is a proprietary strategic tool. Download the Report.
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