Enterprise Risk Management (ERM)

PRIMARY CONTACTS: James B. Yard CPA, CIA , Tony P. Ielase, CISA

In today’s volatile business environment, risk landscapes are changing more rapidly and with a greater impact than ever before.

Effective Enterprise Risk Management (ERM) is a critical enabler for strategy execution and an important competitive advantage for all organizations in the business landscape. It creates greater confidence in decision-making and achieving operational and strategic objectives while effectively enabling risks and opportunities to be actively managed.  The value is in the discipline surrounding key events to realize opportunities, minimize disruptions, manage adverse events and limit financial ramifications.

For more information download our Enterprise Risk Management Brochure.

How Can Schneider Downs Help?

Our team of risk advisory professionals assist our clients in developing, optimizing and transforming their risk management processes.  Combining deep industry expertise with repositories of leading practice tools and accelerators, we act as a strategic advisor to implement changes to your ERM program to achieve value and minimize surprises. Our ERM service offerings include:

ERM Program Assessment – Review current ERM framework and program against leading practices to identify tangible actions to enhance ERM activities, improve program acceptance and integrate ERM management with underlying business processes.

ERM Program Development – Provide guidance on appropriate governance, processes and infrastructure to support the target risk management culture and objectives.

Enterprise Risk Assessment – Execute activities to identify, analyze, prioritize, manage, monitor and report top risks. Download our Key Questions to Consider When Conducting an Enterprise Risk Assessment to get started.

Risk Action Plans, Monitoring and Reporting – Develop and implement tools, templates and content to monitor and report risks and risk measures, risk management strategies and plans, and risk management program activities.

Risk Analytics – Develop and implement Key Risk Indicators (KRI’s) to better understand individual risks, risk inter-relationships, aggregate risk exposure and risk appetite and tolerance.

Risk Management Sourcing – Outsource or co-sourced risk management program activities, including risk assessments, monitoring and reporting, and analytics.

Benefits of ERM

• More effective strategic and operational planning
• Planned risk-taking and the proactive management of risks
• Greater confidence in decision making and achieving operational and strategic objectives
•  Greater stakeholder confidence
• Enhanced organizational resilience
• Dealing effectively with disruptions and losses, minimizing financial impact
• Avoid surprises through forward planning
• Regulatory compliance and director protection
• Identifying and managing risk entity-wide
• Increasing positive outcomes and advantage while reducing negative surprises
• Reducing performance variability
• Improving resource deployment