Creating Effective ERM Program

• By: Staff Editor
• Date: March 02, 2016
• Source: ComplianceOnline

The variety and complexity of risks facing today's organizations is increasing due to emerging technologies, globalization, and increased compliance obligations. The financial market breakdown of 2007/08 has emphasized the importance of risk management in creating and protecting stakeholder value. As the economy continues to struggle, focus of stakeholders has shifted from simple risk management to overall Governance Risk Compliance (GRC).  The Dodd-Frank Act, focus on FCPA along with whistleblower rules are examples of why firms should focus on more holistic approaches to their GRC and Enterprise Risk Management (ERM) programs.