Report highlights steps for successful implementation of ERM, which could lead to stronger financial results

Enterprise risk management (ERM) results in stronger financial results and greater potential for organisational success, according to a new report published by RIMS at its annual risk management conference in Denver, Colorado.

The report, Transitioning to enterprise risk management, provides risk managers with five key steps to help them successfully “transition to a broader enterprise risk management approach”.

The report also showcases implementation strategies employed by leading risk professionals from Dow Corning, General Motors, Juniper Networks, Safeway and Sysco Corporation.

Carol Fox, RIMS director of strategic and enterprise risk practice said: “A robust enterprise-wide risk management framework provides a practical and sustained basis for improved profitability, greater operational efficiency, increased shareholder value and reduced financial volatility,

“Increasingly, research data supports ERM’s business value and competitive advantage in an ever more uncertain environment.  As a result, risk professionals have an excellent opportunity to play a key role in their organisation’s ERM transition. This RIMS report provides a game plan for practitioners to take that initial step, offering real world examples of how leading global corporations have successfully made the leap to ERM.”