Enterprise risk management: A pragmatic, four-phase implementation plan
WHITE PAPER |
An effective risk management framework is critical to the sustainability of all companies, as taking on some level of risk is imperative for continued success. Recent events have confirmed the importance of an adequate risk management program, and scrutiny has increased significantly from regulatory and governmental bodies in the midst of the financial crisis. Enterprise risk management (ERM) is no longer an option but a necessity for developing a effective business plan.
ERM allows companies to design and construct a best-in-class corporate governance program that drives risk awareness throughout the organization. This white paper provides an analysis of a proper risk management framework, culture and governance guidelines as well how to scale an ERM program to fit your company and strategies for implementation.