Role of Senior Executives in Leading Risk Oversight

Michael Somich, Executive Director of Internal Audit at Duke University, discusses how having the President of Duke University “walk the walk and talk the talk” regarding ERM is essential element of the success of ERM at Duke.  He states how the ERM process is maturing and he shares insights as to factors that have contributed to the ongoing embrace of ERM at Duke.  He offers his views about the detrimental impact on ERM when an organization lacks the backing of a president or CEO of an organization.