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Note:Please enter a brief description of the activity being assessed (include dates of event, and likely number of attendees)Location:Risk Assessor (name/committee position):Student Group:Date of
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Enterprise Risk Management (ERM) is a strategic framework that organizations use to identify, assess, manage, and monitor risks in order to minimize potential negative impacts on their objectives and to maximize opportunities.
Insurance companies and other regulated financial institutions may be required to file enterprise risk management reports, typically as part of their regulatory requirements to demonstrate they are effectively managing risks.
To fill out an ERM report, organizations should assess their risk environment, identify key risks, develop a framework for managing these risks, and compile data and analysis in accordance with regulatory guidelines.
The purpose of ERM is to provide a structured approach to managing risks that could hinder the achievement of an organization’s goals and to enhance decision-making and strategic planning.
Organizations must report on their risk assessment processes, identified risks, risk management strategies, and how these strategies integrate with overall business objectives.
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