ERM Challenge #5: Integrating ERM into Routine Processes
ERM Objective:
All relevant stakeholders in your organization embrace the risk management process because they understand its link to desired performance.
The Trap:
The ERM process is designed layered on top of the business. If your ERM advisor wants to document a stand-alone ERM process your program is not destined for success.
The Solution:
Build upon existing processes and use existing documentation:
Asking people to suspend their “day job” to engage in a risk management process does not work. It is the responsibility of the ERM team to integrate every step of the new ERM process into existing processes and documentation.
This does not suggest that the ERM team cannot create a multitude of new documents and tools for their own team to facilitate the program and generate reports. However, risk owners will be far more likely to embrace a risk program that is woven into their current daily routines.
Saturday, February 18, 2012
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About The Author
- Richard Wilson
- Richard is a Director in PwC's Risk Advisory practice with clients in both Canada and the United States.
He is an experienced senior executive with 15 years in a CEO or COO role (publically traded and private firms). Richard has been leading risk management implementations for more than a decade incl. 60 C-level risk assessments, and has led online risk assessments for 30,000 people in 25 countries.
He has advised the largest company in the US on risk management, and he has facilitated a risk assessment for the United Nations. Richard has been published in Compliance Week, Canadian Business, and the Globe & Mail and has been a keynote speaker on the topic of risk at many conferences in both Canada and the US since 2004.