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Enterprise Risk Management

Features and Benefits

ERM sets the organizational-wide expectations around a company's culture. This includes communicating more openly about the risks a company faces and how to mitigate them. This leads to less unexpected risks and more guided direction on how to respond to certain events. In addition, this may lead to greater employee satisfaction knowing plans are in place to protect company resources as well as greater customer service knowing how to respond to customers should certain risks actually occur.

ERM practices are often synthesized by a standardized risk report delivered to upper management. This report succinctly summaries the risks a company faces, the actions being taken, and information needed for decision-making. As a result, a company may be more efficient with its time, especially considering what is delivered to upper management.

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