Chris Willey, VP of ERM talks with David about Enterprise Risk Management
ERM Perspectives
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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