Risk Management and Compliance Solutions: The evolution of ERM programs

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January 2016

Overview

A primary goal of enterprise risk management (ERM) programs should be to create a sustainable and value-adding ERM program that can survive management turnover, shifting priorities, and resource challenges. This article describes common risk management program trajectories, common pitfalls, and a methodology and long-term plan for supporting a successful and relevant ERM program.

ERM programs can be difficult to maintain and grow over time.

There are a number of potential challenges to building an effective and sustainable ERM program. Commonly seen challenges include:

  • Lack of executive support
  • Changing of the guard
  • Culture
  • Poor initial risk program positioning
  • Communication
  • Lack of risk program discipline
  • Skills gap
  • Lack of budget and staffing
  • Lack of a value proposition

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Stephen Zawoyski

Stephen Zawoyski

Enterprise Risk Management Leader, PwC US

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