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Poole College of Management
Enterprise Risk Management Initiative

Risk Committees

May 21, 2016

A Strengthened Risk Culture for a Stronger Future

Discover how to strengthen governance and manage emerging risks by fostering open communication at the board level. Learn the importance of a diverse, knowledgeable board in identifying and addressing risks while seizing new opportunities.

Feb 1, 2015

2015 Report on the Current State of Enterprise Risk Management: Update of Trends and Opportunities

Discover the 2015 Report on the Current State of Enterprise Risk Management from NC State's ERM Initiative and the AICPA. The report, drawing from 1,093 executives' responses, highlights ERM maturity, integration with strategy, and key opportunities for enhancing risk oversight.

May 15, 2012

Allegations of Risk Management Overrides Swirl at JPMorgan Chase

JPMorgan's $2 billion loss underscores the importance of risk management and culture, as executives face scrutiny for sidelining risk concerns.

Feb 1, 2012

Is it Necessary to Have a Separate Risk Committee?

A hot topic in risk management discussions within organizations is the debate about whether a separate risk committee is necessary for a company to have effective enterprise risk management processes. The authors of this Conference Board article believe “It depends.” The risk management process is a very individualized process. Organizations need to take a long look in the mirror to ensure that a separate risk committee would not create more unnecessary bureaucracy. By learning the business and its strategies more intimately, the organization can determine the risk environment of the firm at a higher level, which in turn will give insights into the necessity/requirement of having a separate risk committee.

Jan 1, 2012

Risk Committees

While most often the board of directors delegates risk oversight to the audit committee, increasingly boards of creating separate board level risk committees charged with that responsibility. This is particularly true for financial services firms, given requirements imposed by the Dodd-Frank legislation for larger banks to form separate risk committees. In an effort to assist companies who are considering the establishment of a board risk committee, Deloitte has organized a resource guide of ideas, recommendations, and specific tools. This resource will help assist those entities that will need to be in compliance with the Federal Reserve’s requirements developed to implement the provisions of Dodd-Frank. Although the guide is helpful for companies that must comply with the new Dodd-Frank regulations, it can be useful for any company that wishes to obtain more information on risk governance and oversight.

Nov 1, 2011

2011 RIMS ERM Survey

Explore the growing acceptance of Enterprise Risk Management (ERM) in companies, as revealed by the RIMS 2011 ERM Survey. Discover key findings on ERM leadership roles, adoption motivators, frameworks used, and the maturity of ERM programs across various industries. Learn how companies are progressing in their ERM implementation and areas needing improvement.

Feb 1, 2011

A Survey of Global Risk Management in a Changing Environment

Explore key industry trends in risk management as financial institutions adapt to a dynamic environment post-global financial crisis. This report, based on a Deloitte survey, discusses enhancements in risk governance, increased ERM adoption, and the evolving regulatory landscape. Key topics include Basel II impacts and the management of liquidity risk.

Dec 1, 2009

A Balance Between Bureaucracy and Personalization

Neil Baker explores how the economic downturn exposed flaws in traditional risk management systems. Highlighting Bristol-Myers Squibb and The Home Depot, Baker illustrates the effectiveness of simple, personalized approaches to risk management over complex bureaucratic systems.

Aug 1, 2009

A New Landscape for Risk Management and Oversight

Ernst & Young's research highlights the shift towards a holistic view of risk management, emphasizing dynamic risk assessments and the critical role of boards and audit committees in risk oversight. Explore essential questions for evaluating risk management processes and aligning them with company strategy.

Jun 1, 2008

Board-Level Risk Committees

Traditionally, senior risk executives have managed risk at the operational level of organizations. Boards have had general oversight responsibilities for risk, with audit or finance committees taking on more specific risk responsibilities. Now, with the heavy workloads of audit and finance committees and a trend towards implementing enterprise risk management (ERM) processes, many organizations are finding it beneficial to form separate board-level risk management committees. The risk content of an organization is often still addressed at the board level across many committees, while risk process is the focus of the separate risk committee.