Enterprise Risk Management Services
Enterprise Risk Management Defined
“Enterprise risk management is a process, effected by an entity’s board of directors, management, and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within the risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.” – Committee of Sponsoring Organizations of the Treadway Commission (COSO)
Enterprise Risk Management (ERM) is a process that all higher education institutions, as well as churches, schools, and ministries, are already implementing. The question is: Is your nonprofit organization managing the process of ERM — or is ERM managing your organization?
A properly designed ERM process will:
- Align risk appetite and strategy
- Enhance risk response decisions
- Reduce operational surprises and losses
- Identify and manage multiple and cross-enterprise risks
- Seize opportunities
- Improve the deployment of capital
ERM is best organized across four categories to achieve your objectives:
- Strategic
- Operations
- Reporting
- Compliance
ERM consists of eight interrelated components derived from how the administration operates:
- Internal environment
- Objective setting
- Event identification
- Risk assessment
- Risk response
- Control objectives
- Information and communication
- Monitoring
Our ERM Services
CapinCrouse can assist your organization in educating, defining, and implementing the ERM process. We use a three-phase process:
- Phase One: Training and data gathering
- Phase Two: Risk identification, risk priority, and plan of action
- Phase Three: Reporting and monitoring
Please contact us today to learn more about how we can assist your organization with enterprise risk management.
