Bonnie Hancock speaks with Fred Caloggero, VP of Audit Services at Xerium Technology, about the ERM process that he helps lead at the company. Many companies look at risk on a two scale plane, considering likelihood and impact; however, Xerium adds in the aspect of velocity – the speed of which a risk can be onset at a company. By looking at things like Key Performance Indicators and Key Risk Indicators, a company can be more aware of the velocities of various risks.
Mr. Caloggero also speaks of some of the difficulties that exist in starting an ERM process, which include assigning risks to individuals and the sheer volume of data that is produced during this time. How he handled these issues is addressed with this interview along with how he keeps updated on the risks assigned to certain people.