The Inflection Point of Enterprise Risk Management
Initial approaches to governance, risk, and compliance have brought forth an ability for enterprise organizations to manage risk more proactively, yet much work remains to make this a truly productive and value-added set of initiatives. Risk registers, compliance checkmarks, and control effectiveness ratings have served to drive awareness of risk throughout the enterprise, resulting in more consistent risk management practices, and the recognition that over-controlling for some risks can be as much of a problem as under-controlling for others.
Nonetheless, many organizations struggle to ensure that risks are addressed to appropriate levels both within the enterprise and among critical business partners. As enterprise organizations strive for higher levels of maturity in their risk management programs, more risk agendas are being established, more assessments are being conducted, more data is being generated, and more analysis is needed to make sense of it all.