Ensuring ERM Sustainability
How do you build a sustainable enterprise risk management (ERM) program that provides a direct link to business value and performance? It’s all about using an ERM maturity model to benchmark your capabilities, identify where your organization is strongest, and understand weak links that inhibit further ERM performance.
To help organizations across industries achieve this goal, LogicManager authored the Risk Maturity Model (RMM) in 2005 and donated it to the Risk and Insurance Management Society (RIMS) as a best practice framework and free risk maturity assessment tool. Today, the RMM helps professionals and executives to develop and improve sustainable enterprise risk management programs.
The online RMM Assessment allows organizations to score their programs on a five-level scale, and receive an immediate benchmarking report. The report provides information on current ERM maturity levels and offers actionable “next step” ideas for improvement. The Risk Maturity Model for ERM provides an actionable internal guide that corporations of all sizes, industries, and geographies can use to improve their risk management maturity from whatever they are at today.
Benchmarking Risk Management Maturity
To give you a pulse on where your ERM program stands, built in to LogicManager is the RIMS Risk Maturity Model (RMM) for ERM.
The RMM is broken down into seven sections, each focusing on a different core attribute of enterprise risk management. These seven areas are further broken down into 25 competency drivers and 68 key readiness indicators that show exactly where your program is sufficient or lacking.
To date, over 2,400 organizations worldwide have used the Risk Maturity Model to baseline their capabilities. The connection between risk-based RMM maturity and a 25% increase in market valuation is proven statistically.
Take the Free RMM Assessment Online
Take the free risk maturity assessment to discover your unique enterprise risk management maturity score. After completing the assessment, you’ll receive a personalized ERM benchmarking report that directly compares your results against the Risk Maturity Model’s umbrella framework to identify gaps and prioritize the next steps for your ERM program. This will help you develop an action plan to take your program to the next level. The assessment requires no prior experience and takes about 30 minutes to complete.
Organizations with mature risk management practices realize a valuation premium of 25%
Download a complimentary copy of the RIMS report “Why a Mature ERM Effort is Worth the Investment” when you complete the free online RMM assessment.
The RMM Assessment measures organizations on their adoption of enterprise risk management best practices.
LogicManager’s ERM Practitioner’s Guide, a companion piece to the RMM, includes everything you need to educate management and implement an effective and efficient enterprise risk management program out-of-the-box. This step-by-step guide includes all of the policies, procedures, assessment criteria–and even workflows you need to address your organization’s critical ERM issues.
It allows you to take advantage of learning from your most successful peers, and apply industry best-practices specifically to your own organization’s unique structure, risk culture, and strategic imperatives.
If you’re interested in receiving a copy of our ERM Practitioner’s Guide, please email firstname.lastname@example.org.
The Risk Maturity Model was developed in 2005 by LogicManager and donated to RIMS as a best practice framework and free assessment tool for risk professionals and executives to develop and improve sustainable enterprise risk management programs. This online resource allows organizations to score their risk programs on a five-level scale, and receive an immediate downloadable report, which provides information not only on current maturity levels, but also offers ideas on what it may take to achieve a higher level of maturity in each of seven attributes. The Risk Maturity Model provides an actionable internal guide that corporations of all sizes, industries and geographies can use to improve their enterprise risk management maturity from whatever level they are at today.