While the vast majority of executives say they are thinking about enterprise risk management, few appear to be implementing it across their organizations’ business processes. That’s according to two separate reports released within the last month, one by The Conference Board and financial services and risk management consulting firm Mercer Oliver Wyman, and a second by Oversight Systems, a developer of monitoring and compliance software.
Enterprise risk management has been an increasingly hot topic since the corporate scandals that began emerging in 2000. Once common only in the financial services sector, ERM is supposedly being more widely considered across industries. That’s not only because some boards of directors are considering a more proactive approach to risk, but because regulators and shareholders have been pushing companies to assess and disclose risks in a more detailed fashion.
