ERM is focused on Enterprise Risks. Enterprise Risks are those risks that could result in losses that would require the firm to make major, unexpected changes to plans or that would disrupt the firm (without necessarily causing losses) in such a way that the firm cannot successfully execute its plans. Enterprise Risks need to be a major consideration in setting plans. Through discussions of Risk Appetite and Tolerance and returns for risks and the costs of risk mitigations, ERM provides a path for alignment of the risk management with the strategic objectives of the firm.
Read More about ERM Tools for Alignment at WillisTowersWatsonWire Blog.
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