Starting an ERM Program
The early stages of a new ERM Program formalize your business' commitment to effective risk management and should receive a sufficient degree of attention. When starting a new program, it is important to recruit talented people to facilitate knowledge transfer and break down information silos. You may consider forming a team of these talented people to direct an ERM Steering Committee or recruit a Chief Risk Officer (CRO). Vetting ERM leaders is no easy task -- common pitfalls arise when individuals on the committee lack sufficient understanding of risk, necessary management skills, or proximity to line operations.
As your consultant, EisnerAmper will help you formulate a strategy to develop an effective ERM Program and recruit the right ERM leadership team based on our previous experience in managing risk and governance initiatives.