Enterprise risk management (ERM) is the methodology for managing risk for organizations with thousands of employees, global networks, and an increasingly complex IT environment. While traditional risk management frameworks empower division managers with risk strategy, ERM is the macro-view and RM process for an organization’s collective risk posture.
Organizations scaling would be wise to hire a chief risk officer (CRO) and accompanying staff to establish an ERM strategy. As a centralized risk owner, a CRO has the cross-environment visibility and influence to preserve business continuity. To meet this demand, vendors also offer ERM software for larger organizations that require a robust and granular risk management process. Read More.