Enterprise Risk Management Team: Roles and Responsibilities
Enterprise risk management (ERM) unites executive-level risk owners to tackle the diverse range of risks an organisation faces more efficiently. The article outlines who should be on an ERM team and what roles they play, emphasising the flexibility in team composition based on organisational context.
Key Points
- An ERM team is essential for identifying and managing business risks across functions.
- The composition of an ERM team can vary significantly based on size and industry.
- The board of directors, CEOs, and Chief Risk Officers (CROs) are typically key participants.
- Other important roles include COOs, CFOs, IT leaders, and legal officers.
- Engagement from department managers and staff enhances risk management efforts.
Why should I read this?
If you’re involved in leadership or risk management, this article is a must-read! It breaks down the different roles within an enterprise risk management team and highlights how a tailored approach can safeguard your organisation’s interests. Knowing how to structure your team could save you from potential disasters down the line, so don’t miss out on these insights!