Optimising financial processes

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Something to Consider: What are the Critical Factors to ERM Success?

Something to Consider December 2019 1

How To Make ERM Successful?

We recently hosted a discussion on the growing importance of Enterprise Risk Management. With the pace of change in business, managing risk in silos is no longer viable, and enterprise risk management (ERM) aims to harmonise our approach to risk across departments.

We shared a simple step by step guide using our “Pentagon” process model to ensure a successful and continuously improving approach to risk management. We discussed how our focus should now be ‘risk informed decision making’ in a predictive, not just reactive way to ensure risk management is adding value to the business.

We took some polls throughout the session with some interesting results. 53% attendees were still working in silo’s but promisingly, 20% have got a plan in place to get them to a harmonised ERM approach.

We covered a lot of topics, so we have put together a blog post of key takeaways here, including the step by step pentagon process model.

You can view a recording of this session at your leisure here.

If you would like the slide deck or to simply to get an answer/point of view on a question or challenge you have, please reply to this email and we will get you what you need.

We look forward to hearing from you.

Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.