GRI's Enterprise Risk Management Roadmap and Program
One of our primary goals has been to improve risk management in the financial services sector through enterprise risk management (ERM) education and training.
In order to advance this important goal, Global Risk Institute is launching a comprehensive ERM Roadmap program initiative to contribute to this important ERM practice area.
The resulting GRI ERM program reflects the following core attributes:
- A process oriented framework, reflecting the discrete key risk management activities in the ERM cycle, as well as their many associated interdependencies
- A program that highlights the important relationship between organizational strategy and the ERM process, and the vital role that Risk Appetite plays in facilitating this linkage
- Understanding of the fundamental role Risk Culture plays in shaping decision making around risk/return trade-offs in a financial services context
The GRI ERM Roadmap identifies seven core ERM processes and their associated interdependencies
The Roadmap identifies seven core ERM processes and the associated interdependencies required to achieve the formation of an effective, holistic and integrated approach to ERM in a financial services context. GRI believes that the systematic application of the principles and practices embedded in this Roadmap can materially improve the overall decision quality and experience outcomes that arise in relation to the wide range of risk/return trade-offs inherent in a financial institution’s business strategy and operations.
Each of the seven learning modules are designed to help members understand and develop actionable insights and methodologies they can use.
- Risk Appetite
- Risk Identification
- Risk Measurement and Assessment
- Risk Budgeting and Actions
- Governance and Controls
- Reporting and Communications
- Risk Culture