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Enterprise Risk Management (ERM)

What is Enterprise Risk Management (ERM)?

A holistic approach to identifying, assessing, and managing risks across an entire organisation. Frameworks include COSO ERM and ISO 31000.

Risk Management

Related terms

Risk Appetite

Frameworks that govern enterprise risk management (erm)

NIST Cybersecurity Framework 2.0View framework →ISO 27001:2022View framework →

What the standards actually require on enterprise risk management (erm)

Requirements naming enterprise risk management (erm) across 3 standards, quoted from the control text.

IRM Enterprise Risk Management Framework (Institute of Risk Management)1 control

Institute of Risk Management (IRM) Enterprise Risk Management (ERM) Framework principally embodied in A Risk Management Standard published 2002 + co-authored by AIRMIC (Association of Insurance and Risk Managers in Industry and Commerce) + ALARM (UK Public Ris...

IRM-Scope-ARM-Standard-2002-AIRMIC-ALARM-IRM-ISOGuide73-ISO31000-Definitions-Upside-Downside · IRM ERM Framework Scope + A Risk Management Standard (2002) + Co-Authored AIRMIC/ALARM/IRM + ISO Guide 73 Vocabulary + Upside/Downside Risk + CMIRM Qualification →
Japan FSA Cybersecurity Guidelines for Financial Institutions1 control

The FSA expects financial institutions to implement a comprehensive cybersecurity risk management framework + aligned with NIST CSF 2.0 + FFIEC IT Examination Handbook + ISO/IEC 27001 ISMS + integrated into Enterprise Risk Management (ERM).

JP-FSA-CYB-Risk-Management-NIST-CSF-FFIEC-Aligned-Identify-Protect-Detect-Respond-Recover-Govern-Plan-Do-Check-Act · Japan FSA Cybersecurity Risk Management Framework + NIST CSF 2.0 Aligned + FFIEC Crosswalk + Identify Protect Detect Respond Recover Govern + ISO 27001 ISMS + Plan-Do-Check-Act + Inherent vs Residual Risk + Risk Appetite + Cyber Risk in ERM →
Own Risk and Solvency Assessment (ORSA) - NAIC Model Act1 control

Per NAIC ORSA Guidance Manual Section 1: provide a high-level description of the insurer's Enterprise Risk Management (ERM) framework.

ORSA-S1 · ORSA Manual Section 1: Description of Insurer's Risk Management Framework →

Questions people ask about enterprise risk management (erm)

What is Enterprise Risk Management (ERM)?
A holistic approach to identifying, assessing, and managing risks across an entire organisation. Frameworks include COSO ERM and ISO 31000.
Why is Enterprise Risk Management (ERM) important for compliance?
Enterprise Risk Management (ERM) is a key concept in Risk Management. Understanding enterprise risk management (erm) helps organizations meet regulatory requirements, reduce risk, and demonstrate due diligence during audits. Our compliance platform maps 686 frameworks with 311K cross-framework control mappings.
What concepts are related to Enterprise Risk Management (ERM)?
Key concepts related to Enterprise Risk Management (ERM) include Risk Appetite. Understanding these interconnected concepts provides a more comprehensive view of Risk Management requirements and helps organizations build holistic compliance programs.
Which compliance frameworks address Enterprise Risk Management (ERM)?
Enterprise Risk Management (ERM) appears in the requirement text of IRM Enterprise Risk Management Framework (Institute of Risk Management), Japan FSA Cybersecurity Guidelines for Financial Institutions, Own Risk and Solvency Assessment (ORSA) - NAIC Model Act. Across these standards we have identified 3 controls that name it directly, each linked to the control text on the compliance platform.
Where can I learn more about Enterprise Risk Management (ERM)?
Explore our compliance framework pages to see how enterprise risk management (erm) applies across different standards and regulations. Our implementation guides provide step-by-step guidance, and the compliance platform offers AI-powered analysis of how this concept maps across 686 frameworks.

See how Enterprise Risk Management (ERM) applies across compliance frameworks

Our platform maps 686 frameworks with 311K cross-framework control mappings. Explore how this concept is addressed across standards.

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Written and maintained by Gerard Blokdyk, The Art of Service.