ERM and GRC Resource Center
This article discusses the differences between the traditional understandings of ERM and GRC softwares.
The most effective way to collect risk data is to identify risk by root cause, which tells us why an event occurs.
Subjectivity prevents risk assessments from being used across business silos and hinders verification by audit or compliance review.
The challenge with risk appetite is implementing and enforcing it, making it relevant to departments on a day-to-day basis.
Risk managers must monitor key risk indicators (KRIs) at the business-process level and be able to escalate as necessary.
The foundation for effective ERM is the identification of an organization’s business processes and recognition of process owners.
To make simplify ERM, you need to break down data, and making it highly accessible. This also applies to resource allocation.
The board of directors must ensure the on-time completion of the organization’s strategic imperatives. How does it achieve this?