Enterprise Risk Management

What is Enterprise Risk Management?

Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines ERM as:

Enterprise risk management is a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.

Enterprise risk management requires an entity to take a portfolio view of risk. It considers activities at all levels of the organization.

ERM NEEDS AND BENEFITS
A good business knows well that there is nothing like closely monitoring business and financial risks and implementing mitigation plans and risk management strategies based on data measures. Risk Management is an effective tool for managing the uncertainties resulting from various business risks. Many of these business risks go beyond traditional risk that can be insured. In today’s business environment, not all risks can be insured. Infact, some risks are better retained within the business and managed for better returns.

WHY ERM
In August 2004, Committee of Sponsoring Organizations (COSO) issued its Enterprise Risk Management – Integrated Framework after completing. The framework, which includes an executive summary and application techniques, expands on the Internal controls framework.

HOW CAN RISKPRO HELP
Riskpro has strong domain expertise when it comes to Enterprise Risk Management. Our experiences range from Financial Services to specialised manufacturing businesses. Our unique ERM Methodologies and Risk Library ensure that the project is likely to be of shorter duration and successful.

To know more about our Enterprise Risk Management advisory, please contact us at info@riskpro.in

More Info: 
Manoj Jain: 9833767114, manoj.jain@riskpro.in
Tags: 
Tags: 

Other Services of Interest

  • Reduce your GDPR implementation Costs - Hire GDPR Experts in India

    Reduce cost for GDPR Compliance - Remote Consulting from India GDPR readiness assessment and implementation can be costly. And time is short. Instead of paying premium fees to local GDPR consultants...
  • Riskpro India on top of Emerging Risks that bother you

    Riskpro India is well positioned to offer advisory services for emerging risks such as Data Protection (GDPR), information security, assurance services such as Third party risk management, internal...
  • Risk Appetite and Risk Strategy

    COSO Enterprise Risk Management 2017 is here. And one of the most important changes in ERM is that ERM ties back to strategy and business objectives. ERM is no more an isolated practice followed...
  • Introduction to GDPR - Data Protection Training Mumbai

    You are invited to an enriching introduction to the most important regulation in data privacy – The EU General Data Protection Regulation (GDPR). The regulation is creating ripples across the Indian...
  • Assurance Services

    In Riskpro we believe that Internal audit function has to align its activities with business activities of any organisation to achieve its objectives. IA can be of significant value if it maintains...
  • Risk Based Internal Audit Services

    Why Internal Audit Matters In order to run your business, you develop processes to manage the factors that drive performance and help control internal and external risks that could prevent you from...
  • Risk Management Score - Benchmarking Risk Management effectiveness

    Risk Mitigation results are often not apparent. This makes it more difficult to justify whether a company is doing it right. To overcome this issue, Riskpro has introduced a proprietary Risk...
  • Information Security Policies - Full Set

    Riskpro has put together a complete documentation toolkit for ISMS /ISO 27001 framework. To purchase this work template based toolkit, please send an email to info@riskpro.in.
  • SSAE 18 - SOC Audit and Attestation Services

    Riskpro has been providing SSAE 16/ now SSAE 18 and other information security services for over two years. Here are some of the major benefits our clients are experiencing. Benefits of SOC Audit...
  • Go to top