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Enterprise risk management gaining traction

According to the newly released 2013 RIMS Enterprise Risk Management (ERM) Survey, enterprise risk management has gained ‘critical mass’ acceptance with 63 percent of the respondents having either fully or partially integrated an ERM program to address their organization’s strategic and operational risks.

The RIMS survey is designed to gain insight into the current state of, and ongoing trends in enterprise risk management and incorporates responses from more than 1,000 risk professionals. The 14-page report explores the risk manager’s role in implementing ERM, ERM program drivers, the value of ERM, ERM expectations and effectiveness, strategies for measuring the maturity of an ERM program and risk reporting.

“Although many organizations are still in the infancy of enterprise risk management implementation, it is clear that ERM, and the role of the risk professional has become a valued part of corporate culture and business practices,” said RIMS Director of Strategic & Enterprise Risk Practice Carol Fox.

The 2013 RIMS ERM Survey was produced with Advisen LTD as a follow up to previous surveys in 2009 and 2011. The survey is free for both RIMS members and non-members and can be downloaded in RIMS newly revamped Risk Knowledge library at www.rims.org/RiskKnowledge

•Date: 13th September 2013 • US/World •Type: Article • Topic: Enterprise risk management

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