Enterprise Risk Management Governance Inc.

You can register for an online ARM certification classes by registering at  https://ermgovernance.com/ARM/ We offer all three ARM courses. ARM 54, ARM 55 and ARM 56. Contact us for more details. About the ARM Designation The ARM program teaches the in-depth knowledge needed to assess and respond to the numerous hazard risks your organization faces.  ARM helps you: Build a strong foundation in the science of risk management Gain practical skills to avoid, reduce, and manage risk Learn to adapt those skills to meet changing needs The following courses are required to earn the Associate in Risk Management (ARM) designation: ARM 54—Risk Management Principles and Practices Risk Management Standards and Guidelines; Hazard, Operational, Financial, and Strategic Risk; Risk Identification, Analysis, and Treatment; Financial Statement Risk Analysis; Capital Investment ARM 55—Risk Assessment and Treatment Risk Assessment and Treatment; Root Cause Analysis; Busine...

Introducing the new Cannabis & Hemp Conference  Registration is Open Register In just a few years, cannabis trading has moved from an underground market to a booming legal business. With medical marijuana legal in 32 states and D.C. and recreational marijuana legal in 12 U.S. jurisdictions, cannabis and cannabinoid producers and distributors have quickly grown to such a size that they need support from a diverse range of financial services companies – including insurance firms. The insurance industry has been wary of covering cannabis-related industries but there is growing interest in the sector and more insurers, agents and brokers are handling business in what they view as a business sector set for a huge expansion. As the cannabis sector and insurers examine the risks inherent in cannabis production and distribution questions are arising on everything from crop coverage to directors and officers liability insurance. In addition, the rise of cannabis as an alte...

The recent (ISC) Global Information Security Workplace Study illustrates the issue of Filling the Cybersecurity Gap in stark detail. The report projects that the global information security workforce shortfall will reach 1.5 million workers in five years.  The nearly 14,000 qualified information security professionals who took part in the study are already struggling with this: Only half believe their organization is capable of sufficiently discovering and recovering from a breach.  As a result, only one-fifth indicate that they can complete remedia tion after a system or data compromise within a day (down from 33% in 2011). Other findings reveal additional, trou bling developments: With an insufficient pool of avail - able, suitable job candidates, 62% of respondents say that their orga nization has too few information security professionals, up from 56% in 2013.   Two-thirds are concerned about security technology “s...

What is the 3 lines of defense model? 3 lines of defense model distinguishes the three interrelated functions of an effective enterprise risk management program. These are: 1) Own and manage 2) Oversee 3) Independent Assurance What is the role of first line in the 3 lines of defense model? The first line is responsible for managing risks and maintaining effective internal controls. It is a bottom up approach where risk assessments are performed and include - RCSA - Risk Control Self Assessment, KRI - Key Risk Indicators, Risk Profile and Escalation process. What is the role of second line in the 3 lines of defense model? The second line is responsible for design and implementation of risk program. It provides the framework used by the 1st line to assess and manage risks.  The goal is to connect dots by taking a portfolio view of risks across the enterprise. Primarily provides top down view relative to strategy and risk appetite.  What is t...

For years, risk in many organizations was managed on an ad-hoc basis by tenured leaders relying on their own experience, such as the CEO and any credit, market, legal and fraud experts on hand. Internal audit functions existed to identify necessary internal controls and make sure there were no gaping holes. Typically, internal audit was the only part of an organization performing regular risk assessments, and when something went wrong, management would cry, “Where were the auditors?” Today, a new governance model is gaining popularity. The “three lines of defense” (3LoD) model mobilizes three separate groups—business managers, central risk and compliance management teams, and internal auditors—to work together at different stages to provide increased protection against an ever-widening array of risks. The model promotes risk ownership and a stronger risk management culture while eliminating inefficiencies, gaps and overlaps that often occur in the management of risk and compliance b...