What is Enterprise Risk Management?
Enterprise Risk Management (ERM) is a process facilitated by an organization’s management and support personnel which is applied across the entire entity, and is designed to identify and manage potential events which may have an adverse effect on the entity’s ability to achieve its strategic objectives. Risks are typically classified as hazardous, financial, operational and strategic.
How can I.S. Partners, LLC help my organization manage risk?
I.S. Partners, LLC believes that ERM is a proactive approach to understanding and preparing for what will occur, not a reactive response to what has already transpired. We will analyze and assess your current ERM procedures to determine if they meet your organization’s objectives, and will help you develop enterprise-wide controls and procedures to ensure that your organization is prepared for any risks. Our approach focuses on three primary risk drivers:
- Risk identification and understanding
- Risk acceptance and tolerance
- Risk management and mitigation surrounding all company data and functions
Why is Enterprise Risk Management important?
Industry regulators, investors, debit rating agencies and stakeholders have increased their scrutiny of the risk management processes of organizations. With this increased attention, your organization needs to have comprehensive ERM procedures and policies in place in order to comply with regulations, minimize risks to your customers, and attract potential investors.