Enterprise Risk Management | Protiviti - United States

Enterprise Risk Management

Enterprise Risk Management

Enterprise Risk Management

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Getting More Value from Enterprise Risk Management (ERM)

Several factors are contributing to the demand for ERM, such as increased speed of change, growing market volatility and complexity, higher expectations from investors, greater pressure from regulators, etc. In this context, the need to navigate uncertainties, the increased scrutiny from the board and the new COSO ERM Framework have organizations asking if they have the right focus on ERM: Are they looking to comply and conform, or are they looking to become a more Risk-Informed organization?

Many organizations are demanding value beyond “enterprise risk listing” activities and the inertia that can impact an ERM program that loses momentum. They want and need ERM programs that help them anticipate, adapt and respond to changes, focusing efforts and resources on risks and opportunities that can impact their strategy and performance. Forward thinking organizations are using ERM to integrate strategy, business planning and key decision-making processes to drive better business performance.

Our Risk-Informed Approach Can Change the ERM Conversation

We believe that the ERM conversation must change and go beyond an initial assessment to link strategy and performance.

Our proprietary Risk-Informed methodology is aimed at providing management and the board with relevant risk and opportunity information to support decision-making during strategy setting and performance management, thus also allowing companies to accelerate the alignment process with the new COSO ERM principles and related best practices. To this end, our Risk-Informed approach supports the development and evolution of an ERM program that is:

  1. STRATEGIC: Considers the impact of risk on strategy and performance
  2. BALANCED: Measures both risks and opportunities
  3. INTEGRATED: Is integrated with strategy setting, planning and business execution 
  4. CUSTOMIZED: Reflects organizational business needs, expectations and cultural attributes

From our experience, we recognize that each ERM program and goals are unique and influenced by organizational culture, strategy and business goals. Therefore, we describe ERM as a journey because it is evolving and not a straight road to success.

Given that there is no “one-size fits all solution,” one of the key benefits of our Risk-Informed approach to ERM is that it can be tailored to fit the maturity, risk culture, and risk management needs and expectations of any organization. It is important to understand the current state of the ERM journey and desired goals in order to envision the next steps.

A Successful ERM Journey Needs a Trusted Guide

Protiviti provides ERM related services across the full program lifecycle. We can work with you to build or enhance your program to meet and exceed your expectations.

 

We can meet you anywhere on the ERM journey and guide your organization forward to Face the Future with Confidence.

Protiviti’s ERM Center of Excellence:

Matthew Moore
Managing Director
Global Lead, Risk and Compliance
[email protected]
Emma Marcandalli
Managing Director
Global Lead, ERM
[email protected]
Dolores Atallo
Managing Director
North America Lead, ERM
[email protected]
Darshan Mehta
Managing Director
Asia-Pacific Lead, ERM
[email protected]