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Adding Value Through ERM

Learn how ERM adds value to your organization through identifying key risk themes, collaborative efforts, and effective risk reporting. Explore examples, benefits, and key objectives to strengthen your risk matrix.

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Adding Value Through ERM

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  1. Adding Value Through ERM Fred Shane, Chief Risk Officer Charlotte Allen, Supervisor ERM Commonwealth Financial Network IMPACT 2016

  2. “ It takes 20 years to build a reputation and 5 minutes to ruin it.” Warren Buffet

  3. Enterprise Risk Examples

  4. What’s Your Goal?

  5. Key Objectives

  6. ERM Framework

  7. The Risk Matrix

  8. Building a Risk Matrix • Identify Risk Themes* • Departments • Partner with Management • Set Clear Objectives • Educate Management/Staff • Assist • Continuously Assess • Collaborative Effort

  9. Key Risk Themes • Cyber Risk • Fraud Risk • Operational Risk • Financial Risk • Legal Risk • Regulatory/Compliance Risk • Strategic Risk • Competition Risk

  10. Risk Reporting

  11. Benefits of Risk Reporting • Tells a Story • Tailored to Audience • Evidence (Regulators and/or Litigation) • Visualize Progression • Easily Identify Risk Gaps • Simplifies Complex Data • Manageable

  12. Sample Risk Reporting • High Risk reports • Risks without mitigations • Master Matrix reports • Mitigation improvement pie charts • Quarterly departmental change reports • Heat Maps • Customization

  13. Example *This is an example only

  14. Be Creative • Analyze Data • Determine Parameters • Collaborate with LogicManager • Ask Questions

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