Whose Job is it to do ERM?

“We are not big enough to need ERM.” says the smaller company CEO.  “So we all do it together.”

But what is everyone’s job, is no one’s responsibility.  No one is held accountable for how or even whether ERM functions actually happen.

If a company wants to have ERM, then they must make assignments – assignments to individuals.

This process, these assignments, are what RISKVIEWS calls Risk Organization.  Everyone does not need the same Risk Organization, but everyone who is serious about ERM needs to clearly assigning responsibility for the risk identification, measurement and management of risks.

This week’s post on the WillisWire series on ERM Practices is about Risk Organization:

ERM Practices: Risk Organization

This is Part 4 of a 14 part series on the ERM practices that support an ORSA. The other pieces in that series so far are:

Risk Identification

Risk Measurement

Risk Limits and Controls

RISKVIEWS has also posted discussions of Risk Organization.  Here are a few examples:

Risk Organization

CEO is still the Real CRO

Chief Scapegoat in Waiting

Tug of War

Explore posts in the same categories: Chief Risk Officer, Enterprise Risk Management, Risk Culture, Risk Management System

Tags: Business, Risk Management

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