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Enterprise Risk Management Initiative

Risk Assessment

Jan 29, 2019

Strategic Risk Transformation for Organizations

Strategic risks are important now more than ever in the economic environment we live in. Regulatory risks arise each year, along with new emerging risks from technology and innovation. That is why it is so critical for organizations to consider their strategy and how it effects their risks. This article summarizes a structured process set out by Deloitte on how to identify risks, and then implement a plan to transform your company to be protected from catastrophic events and to minimize the damage caused by these events.
Angela Hoon

Jan 17, 2019

Analyzing Root Causes of Risks

Angela Hoon, Executive Director of Strategic Risk Management at General Motors talks about how her organization analyzes root causes of top risks in order to identify common triggers and points of interconnection.

Jan 4, 2019

Recognizing the Shamrock Organization and Emerging Risks It May Create

Workforce dynamics are evolving with generational shifts, AI, and the gig economy. Beth Ritter discusses how these trends create emerging risks that executives and boards must address in strategic planning.

Sep 11, 2018

Understanding Reputation Risk

Learn how organizations can tackle reputational risk, a key component of brand strategy. Chrystina Howard shares insights on incorporating reputation risk into risk assessments and offers actionable first steps.

Sep 4, 2018

Risk Assessment from COSO’s Perspective

Learn how COSO's risk assessment framework helps organizations manage risks effectively. Explore the key steps: developing assessment criteria, evaluating risk interactions, and prioritizing risks to align with strategic goals and enhance value creation.
David Hughes and Bonnie Hancock

Aug 14, 2018

Conducting Annual Risk Interviews

David Hughes, Assistant Vice President, ERM and Business Continuity Planning at HCA Healthcare talks about how HCA conducts annual risk interviews as part of an ERM process that has been in place for over 15 years.
Rob Gould

Jul 11, 2018

Conducting Black Swan Workshops

Rob Gould, Director, Internal Audit at Harley-Davidson talks about conducting Black Swan workshops. 

Jun 26, 2018

The Relationship between Internal Controls, ERM, and the Business Model

COSO's Improving Organizational Performance and Governance discusses how COSO's Internal Control Integrated Framework and COSO's ERM Integrated Framework relate to the standard business model. The frameworks can contribute to an organization's long-term success. The key takeaway is that good risk management and internal control are necessary for the long term success of all organizations. Improving organizational performance and governance will support this goal.

Jun 26, 2018

COSO’s Take on the Three Lines of Defense

As risks begin to threaten the achievement of company objectives, senior management must determine the appropriate way to respond. Responsibilities and duties must be clearly identified so individuals are aware of their roles in addressing these risks and controls. COSO developed the three lines of defense model that addresses how specific duties related to risks and controls could be assigned and coordinated within the organization to alleviate the threat. Ultimately, the model is designed to ensure individuals within each line of defense are aware of their full responsibilities and how these responsibilities fit into the organization's overall risk and control structure.

Jun 26, 2018

COSO Releases Examples of Framework Applications

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has released an important supplement to its 2017 Enterprise Risk Management – Integrating with Strategy and Performance. This compendium to the 2017 framework includes detailed examples for applying principles from the updated ERM Framework to day-to-day practices. The compendium of examples recognizes the connection between ERM and strategic setting and organizational performance and includes examples across a wide range of industries. Each illustration in the compendium was developed from industry practices identified through extensive research, including interviews and case studies.