ERM is critical to all organizations current and long term performance. Ineffective and inadequate risk management can negatively impact credit availability as well as operational performance. The following are key risk ERM business processes:
Enterprise risk management processes that are manually intensive, rely heavily on MS Excel spreadsheets and lack effective internal controls are highly subjective and have a high risk of error.
- Risk Assessment, from identification to assessment
- Risk Management, from identification to reporting
- Enterprise Risk Managed Business Planning
Enhancing ERM processes encompasses the reduction of manual and non-value added tasks, the implementation of key internal controls, and the effective use of technology for real time monitoring of risks and remediation.