Bonnie Hancock, Executive Director of the ERM Initiative at NC State University interviews Linda Milburn-Pyle, Chief Risk Officer, Advance Auto Parts about how she approached a re-fresh of an Enterprise Risk Management process after joining the organization. Linda describes how she went about reviewing the ERM process that was in place when she arrived, gaining input from senior executives on their views on risk, and ensuring that the ERM process is “practical and relatable”. She then describes how the ERM process has developed including senior executive and board reporting, and discusses her plans for future improvements to the ERM process at Advance Auto Parts. Her priorities going forward include more automation and greater emphasis on data analytics.
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