๐ Internal Environment
๐ Objective Setting
๐ Risk Identification
๐ Risk Assessment
๐ Risk Prioritization
๐ Risk Mitigation
๐ Control Activities
๐ Risk Governance
๐ Monitoring & Reporting
๐ Information & Communication
Navigate the complexities of business with confidence! Our commitment to Enterprise Risk Management (ERM) empowers us to identify, assess, and conquer challenges, ensuring a path to sustainable success. Check this factsheet on Enterprise Risk Management to know more.
๐๐จ ๐ค๐ง๐จ๐ฐ ๐ฆ๐จ๐ซ๐: https://www.infosectrain.com/courses/iso-31000-risk-manager-certification-training/
2. MANAGEMENT
ENTERPRISE RISK
WHAT IS
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?
Enterprise Risk Management (ERM) is a holistic and
structured approach that seamlessly integrates risk
management into an organization's overall strategic
planning and decision-making processes. It enables
organizations to effectively recognize, assess, priori-
tize, and address risks that can impact their ability to
accomplish their intended goals.
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Defines the organization's strategic and operational
goals
Ensures risk management aligns with and supports
these objectives
OBJECTIVE SETTING:
Involves assessing internal and external factors
influencing risk
Identifies potential risks and opportunities,
encompassing operational, financial, strategic, and
compliance risks
RISK IDENTIFICATION:
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Quantifies and qualifies identified risks based on
impact and likelihood
Helps prioritize risks for further attention and
mitigation
Ranks risk based on their significance, allowing focus
on high-priority areas
Facilitates resource allocation for risk management
efforts
RISK ASSESSMENT:
RISK PRIORITIZATION:
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Develops strategies to mitigate, transfer, or accept
risks
Reduce the impact and likelihood of adverse
events
Implements controls and policies to manage risks
effectively
Includes checks and balances to prevent or detect
undesirable events
RISK MITIGATION:
CONTROL ACTIVITIES:
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Defines the roles and responsibilities of individuals
and committees in overseeing ERM
Ensures accountability and compliance with risk
management policies and procedures
Continuously assesses risk management processes
and outcomes
Regularly reports on risk exposure and mitigation
efforts
RISK GOVERNANCE:
MONITORING AND REPORTING:
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Helps to identify and address security risks,
reducing the chance of incidents
Enhanced resilience to withstand and recover from
challenges and disruptions
Enhanced decision-making based on risk
insights
MANAGEMENT
ENTERPRISE RISK
COMPONENTS OF
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Ability to seize opportunities and adapt to change
effectively
Enhanced reputation through proactive risk
management
Safeguards the organization's sustainability and
success
Reduced financial impact of adverse events
Increased trust from investors, customers, and
regulators
Supports regulatory compliance and strengthens
governance
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