Chris Willey, VP of ERM talks with David about Enterprise Risk Management
ERM Perspectives
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Building an Effective Enterprise Risk Management Program
The chapter delves into the challenges and strategies of establishing an Enterprise Risk Management (ERM) program, focusing on gaining organizational buy-in, defining key risk indicators, involving stakeholders in decision-making, and managing emerging risks like ransomware. It discusses the role of a risk council in decision-making, the manual approach to ERM at a credit union, the use and limitations of software in ERM, and the importance of benchmarking data and board involvement. The chapter provides advice on creating a charter, getting certified in ERM, and adapting risk programs to changing environments for effective enterprise risk management.
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