Enterprise Risk Management Team: Roles And Responsibilities
SearchCIO, Monday, August 7,2023
Every facet of business operations is exposed to risks, requiring a risk management team that's composed of a diverse mix of corporate executives and managers.
Enterprise risk management brings together executive-level risk owners to manage the entire scope of an organization's risks more effectively. Typically, an ERM team cooperatively identifies and manages business risks and their cross-functional impacts.
"The ultimate goal of an organization is to achieve a strategy," said Joey Gyengo, a principal and U.S. enterprise risk management leader at professional services firm KPMG. "ERM helps bend the curve in a more successful way so we can manage some downside volatility as well as achieve upside potential. It's understanding your risks and where things need to go as well as where they could go wrong -- how an organization can execute on strategy while building resilience."