ERM Focus is Global

The increasing emphasis on enterprise risk management (ERM) in the wake of the latest financial crisis is global.  As evidence, the Institute of Actuaries of Australia conducted a survey last week on ERM practices with the following results.

The online Enterprise Risk Management (ERM) survey was conducted by the Institute of Actuaries a week before its ERM seminar held in Sydney yesterday. It showed that while more than 85 per cent of respondents, comprising senior financial services executives, actuaries and risk managers, revealed a heightened awareness of risk management, they still saw weaknesses in a number of risk management areas.

Some 60 per cent said the area of most improvement was reporting at board level, 50 per cent stated the greatest improvement was in risk governance processes and 50 per cent stated that the risk culture had changed and people were more likely to speak up about possible risks.

As companies and individuals become more interconnected across the globe, this added emphasis on ERM is critical in helping avert a crisis as severe as the last.

About these ads

About Wheelhouse Advisors
Wheelhouse Advisors LLC is the publisher of The ERM Current™, an online publication and blog dedicated to providing the latest updates on current trends in Enterprise Risk Management & Control. Wheelhouse Advisors provides cost-effective Enterprise Risk Management & Control solutions to both large and mid-size corporations. To learn more about Wheelhouse Advisors, please visit our web site at www.WheelhouseAdvisors.com.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 46 other followers

%d bloggers like this: