Enterprise Risk Management

Enterprise Risk Management

1. ERM Approach

   • Uniyfying Broader and more intergrated approach
   • Risks that impact the objectives, key dependencies or core processes
   • 10 main features of ERM

2. Defintions of ERM

   • RIMS
   • COSO
   • IIA
   • HM Treasury

3. ERM in practice

   • PACED
   • Benefits (FIRM)

4. ERM & Business continuity

   • RA needed for RM process and BIA closely related
   • ERM concerned with risk that impact processes
   • BCP concerned with actions thta should be taken to maintain continiuty of individual activties

5. Future Developments

   • LILAC
   • RM activities are fully embedded in business processes
   • Demonstrate measurable financial benefits