67. What is Enterprise Risk Management (ERM)?

Alex Sidorenko from RISK-ACADEMY shares his views on what does ERM means to him and how the term has been way overused :))

At RISK-ACADEMY we have compiled free videos of lectures, seminars and interviews with Russian risk managers, as well as free templates and examples of the tools required for the implementation of elements of risk management in the organization of small and medium-sized businesses.

Learn more about integrating risk management into decision making, planning and performance management: https://www.udemy.com/course/1687492/

Download the #1 risk management book in the world: https://www.researchgate.net/publication/323254437_FREE_RISK_MANAGEMENT_BOOK_GUIDE_TO_EFFECTIVE_RISK_MANAGEMENT_30

Some of the best risk management training courses focusing on decision making, cognitive biases, ERM, risk modeling: https://riskacademy.blog/product/risk-managers-training/

Check out other risk management books

The Standard for Risk Management in Portfolios, Programs, and Projects
Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management

Join the discussion with global risk management experts on LinkedIn: https://www.linkedin.com/groups/1834592/

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MUST read for all risk managers in non-financial companies: https://riskacademy.blog/category/hot/

RISK-ACADEMY offers online courses

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Learn 15 practical steps on integrating risk management into decision making, business processes, organizational culture and other activities!

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Управление рисками

В этом коротком и очень увлекательном курсе, Алексей Сидоренко расскажет о причинах внедрения риск менеджмента, об особенностях принятия управленческих решений в ситуации неопределенности и изменениях в новом стандарте ИСО 31000:2018.

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5 thoughts on “67. What is Enterprise Risk Management (ERM)?

  1. What should be the basis for classifying the impact ranges if you don’t have operational risk impact database when starting the exercise in a new company?? Can we get some help from external auditor’s materiality level? Highly appreciate if you could guide me on that.

    1. First, for good risk management, you don’t need impact ranges most of the time, you need to understand volatility of assumptions. Big difference. Second you don’t need an operational risk impact database

      1. My query was with respect to RM1 to satisfy auditors. So what should be the basis of impact ranges to satisfy auditors while working separately on RM2 in a new organization?

      2. That’s easy. Anything. Auditors wouldn’t understand or care as long as it’s relatively sensible. Could be group of experts or any external verifiable source or a little internal stats which always exist if you look hard enough

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