One of the silver linings of the pandemic situation is that siloes within organizations are crumbling as business leaders from all types of functions are communicating regularly and working together to solve the vast array of challenges across the enterprise. As we emerge from this crisis, organizations will hopefully find ways to preserve the benefits of working together for the long-term. One way that can be accomplished is through the use of risk management committees comprised of various functional leaders across the management team who meet on an ongoing basis to strategically manage risks at an enterprise level.
A recent interview of Matthew Dunn, Director of Finance and ERM Leader at ConAgra conducted by Don Pagach and Director of Research for the ERM Initiative at NC State University, highlights the roles and cadence of risk committees at ConAgra. Matthew discusses the risk governance structure at ConAgra that consists of both a board-appointed ERM Committee comprised of seven members of the senior leadership team and a separate Risk Committee that is tasked with financial risks of the company. Matthew describes the nature and frequency of that reporting and the role the ERM function plays in helping establish a regular cadence of communications and discussions about key risk issues. His insights may be helpful to others that may want to capture the benefits of leaders coming together to leverage risk information for strategic advantage.
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