A few weeks ago I attended the Enterprise Risk Management (ERM) Roundtable Summit held by NC State University. Although there were many speakers from a number of different industries, the same theme resonated throughout the day. The theme was, in order for any organization to have a successful ERM process it must foster thoughtful discussions between those who are tasked with ERM. As we have mentioned previously, it is easy for ERM to become just another “compliance check-box.” However, encouraging a challenging dialogue among team members can certainly help your organization move past the “check-box” mentality.
It is important to keep in mind that the dialogue should be structured and address critical strategic risks, not a brainstorming session about anything and everything that can happen.
A consequence of the latter is that a group could very easily lose focus and become less productive. A few ways to keep your group focused on the objective are: to prepare and distribute an agenda ahead of time, keep your goals for the session both realistic and attainable and ensure that your momentum is sustained.
At the ALS Group, we have extensive experience and knowledge in organizing risk management discussions that are unique to each company and align with their specific strategic goals. Contact me for more information on how we can assist your organization with implementing an Enterprise Risk Management strategy.
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