An organization seeking to establish its first true risk management program and/or mature its existing program into an Enterprise Risk Management (ERM) capability can find the process daunting. There is a myriad of frameworks, theories and best practice standards that vary based on industry, business model and public/private/non-profit sector. While the risk management process itself is straightforward, what is not so clear is how to successfully operationalize an ERM program in a way that creates synergy across the organization and positively impacts strategic objectives and resilience capability. Best practice in every one of these areas points to the harmonization between the three programs as a key characteristic of mature management capability, however, creating such a model is a challenging exercise in puzzle building for most organizations.
In this session, we will delve into what ERM discipline really is and how it differentiates from traditional risk management, identifying its purpose, value and core elements. With this information, each participant will be able to assess their own organization’s current program maturity and potential areas of improvement. It will also help assess readiness for new program implementation or “upgrade” to a more sophisticated model. These topics will be the basis for an interactive peer discussion to support troubleshooting, address questions, and hear how others dealt with similar challenges.
Pre-session work will include an organizational self-assessment, identification of obstacles encountered/anticipated, and strategies for overcoming hurdles.
- Enterprise Risk Management
- Function vs Discipline
- Key Elements & Attributes
- Value proposition
- Assessment Results
- Common Issues
- Success Strategies
- Differentiating ERM from traditional risk management & articulating its value
How to assess current organizational maturity & readiness for implementation or change
Strategies for success (peer-to-peer)
We want you to have a valuable experience in these sessions. To that end, class size is limited so in-depth discussion and learning can occur.