Emerging Trends in ERM

Bonnie Hancock, Executive Director of the ERM Initiative at NC State University interviews Steve Zawoyski, Partner and Head of the Enterprise Risk Management Capability Practice at PWC about trends he is seeing with clients’ ERM practices. Steve describes an increasing focus on value and on enhancing an organization’s capabilities in managing risks, “creating risk management muscle”. He notes a changing perspective where organizations are focusing more on resiliency and what they need to do well in order to reach stated goals vs. what could prevent achievement of goals. There is also an increasing focus on access to data, particularly external data that can be pooled and analyzed to create insights into risks. Finally, he discusses how companies are approaching the implementation and development of key risk indicators, in many cases using existing performance metrics.