Enterprise Risk Management (ERM): is a process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of a risk to an organization. It expands beyond a daily run of the mill operational management! A true ERM program will have its scope expand to strategic, financial, reputational, human resource and business continuity as well as operational and legal risks. Most organizations, as they mature embark on a journey of establishing a robust Enterprise Risk Management (ERM) Program! The 5-step plan outlined here can be used for rolling out any organization-wide change. Step 1: Organize effort for a successful change Identify your team! Make this group a core part of the ERM work Assess current organizational change saturation and establish a process to address any road blocks Engage the Executive Leadership Team (ELT) for support Have a clear plan of action Ensure that ERM beco...
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