Enterprise risk management programs are maturing, and the role of the chief risk officer is becoming more popular. However, risk management professionals rarely have a direct role in business decision making. In fact, only 29% of Board members substantively discuss top risk exposures in a formal manner when they discuss the organization’s strategic plan.
An effective risk management framework requires collaboration between the ERM program and the rest of the organization. In this ebook, we break down integration strategies to solve ERM issues like:
Lack of strategic ownership
Critical talent shortages
Lack of effective third-party risk management
Lack of control over company culture