Revamping ERM: How Seven Companies Improved ERM Effectiveness

Most ERM processes evolve over time to adapt to the changing needs of the organization and to look at the changing risk environment. This case study looks in depth at how seven different organizations have made changes to their approach to ERM to increase engagement in risk management activities from leaders across the organization and to facilitate more risk intelligent decision-making.

A number of changes helped increase the value of their ERM efforts. Changes ranged from better aligning ERM with the strategic planning function, to simplifying risk assessments and risk committee meetings, to changing the reporting relationships of the ERM organization, among other changes. The companies making these changes experienced better linkage of ERM and strategy, broader engagement across the organization, more efficient processes, and more informed decision-making. Download the case study.

Original Article Source: “Revamping ERM: How Seven Companies Improved ERM Effectiveness”, Ashley Baker, Carl Kreibich, Marcos Melendez, and Ross Robinson, NC State University ERM Initiative, 2019