Adopt ERM Approach | ERM Process Management | Risk Appetite Management | Root Cause Discipline
Uncovering Risks | Performance Management | Business Resiliency and Sustainability
Adopt ERM Approach
Executive support for an ERM-based approach within the corporate culture and across all processes, functions, business lines, roles and geographies.
ERM Process Management
Repeatable and scalable risk management processes are integrated into business and resource/support units, using sequential and iterative steps that support decision making. Use of qualitative and quantitative methods, analysis, tools and models.
Risk Appetite Management
Accountability for 1) defining acceptable boundaries 2) calculating and articulating risk tolerance 3) developing a risk portfolio 4) considering scenarios, and 5) attacking gaps between perceived and actual risks.
Root Cause Discipline
Discipline applied to addressing root causes by: 1) determining sources 2) understanding impacts 3) identifying trends, and 4) measuring effectiveness of controls.
Quality and integration of risk assessment activities in documenting risks and opportunities. Collecting and utilizing knowledge from multiple sources to uncover dependencies, correlation and portfolio view.
Planning, execution and measurement of vision, mission and strategic goals and objectives in tandem with risk management activities. Exposures to uncertainty, or potential deviations, from plans and/or expected outcomes.
Business Resiliency and Sustainability
Integration of business resiliency and sustainability aspects within operations and risk management responses; for instance, vendor and distribution dependencies, supply chain disruptions, dramatic market pricing changes, cash flow volatility, business liquidity, etc.