Enterprise Risk Management

Enterprise Risk Management (ERM) is an emerging issue in many companies as they address today’s economic challenges and try to identify and mitigate operational, financial, and reputational risks. Given S&P’s focus on ERM as part of its corporate ratings process, companies’ need to formalize ERM has become more urgent. We know that one size does not fit all and have developed an approach that allows clients to “self pace”. We guide companies through the process without force-fitting a solution or timeframe. Building a scalable risk management program requires collaboration at all levels of the enterprise. WeiserMazars' approach practically addresses the challenges faced along the way. A formal risk management program is a valuable asset to companies seeking a proactive approach to operating in tough times, and to emerging from touch times as a better business. 


CASE STUDY 

A financial services firm was getting pressure from regulators to improve its risk management program. Challenges in the marketplace led to rapid-fire decisions at the executive level. The regulators were concerned about the heightened degree of risk associated with the Company’s customer base. We led an effort to develop and Enterprise Risk Management program that commenced with a risk assessment, and led to an initiative inside the organization whereby leadership across multiple functional areas had greater visibility about the risks and impact of their operating decisions across the business. In short, they got exposed to issues outside their “silos” and saw the bigger picture. Our process was right-sized for the organization, and “self-paced” by the client so that the ERM mission did not slow down key initiatives within the Company.

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