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A question of risk: test your ERM knowledge

Ellen Davis
Ellen Davis
Ex-Director of workflow proposition marketing, Thomson Reuters Financial & Risk
Traditional Incandescent light bulbs are seen at an apartment in Munich August 31, 2009.
REUTERS/Michael Dalder

How does your organization perform on Enterprise Risk Management (ERM)? Take our health check survey and identify gaps in your framework.

A good risk culture within your organization cannot be achieved in isolation by one department or group of individuals. From the C-suite all the way down to an entry-level member of the internal audit team, risk management is all-encompassing.

That’s why it’s important to understand if your organization is really “walking the talk” when it comes to your ERM framework.

The new Risk Management Health Check Survey can help you gain a crucial snapshot of how well your organization is doing on ERM.

Shareholder value

The survey’s nine multiple choice questions aim to find out the kinds of activities you undertake as part of your ERM program — from assessments, key risk indicators and scenario analysis, through to understanding emerging risks.

It also looks at some key points such as ERM’s relationship to shareholder value and the amount of support the framework has from the board of directors.

A view of a dashboard in Enterprise Risk Manager, showing analysis of enterprise risks
A view of a dashboard in Enterprise Risk Manager, showing analysis of enterprise risks

The health check considers the kind of internal infrastructure you have to support ERM day-to-day, including practical considerations such as technology,compensation frameworks and reporting structure. Other, less tangible elements, such as how ERM is embedded culturally, and how accountability is handled, are also explored.

The survey, which should take less than five minutes to complete, will give you an instant answer as to how your organization stacks up — and possibly some food for thought as well.

Industry overview

Later this year, we will be reporting back on the aggregated results and providing those concerned about ERM with a snapshot overview of the state of the industry — it’s very own self-assessment.

A risk and control self assessment report in the Advanced Reporting module of Enterprise Risk Manager

We’ll look at how ERM practice varies across industries and geographies, and within individual practice areas. These differences will highlight not only the variety of approaches to risk management but also the assortment of risks organizations face.

You can also learn more about the our approach through Enterprise Risk Manager, which dozens of organizations globally use to improve the way they manage and analyze enterprise risk.

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