ERM is critical to all organizations current and long term performance. Ineffective and inadequate risk management can negatively impact credit availability as well as operational performance. The following are key risk ERM business processes:
- Risk Assessment, from identification to assessment
- Risk Management, from identification to reporting
- Enterprise Risk Managed Business Planning
Enterprise risk management processes that are manually intensive, rely heavily on MS Excel spreadsheets and lack effective internal controls are highly subjective and have a high risk of error.
Enhancing ERM processes encompasses the reduction of manual and non-value added tasks, the implementation of key internal controls, and the effective use of technology for real time monitoring of risks and remediation.
With its process templates and proprietary business intelligence tool, Baseline Builder ®, Process Partners can quickly conduct a gap assessment of a company’s ERM processes and controls to identify opportunities for enhancement, ensuring the effective and timely identification and remediation of major risks. Baseline Builder maintains a database of ERM controls and best practices as the basis for the Process Partners ERM process gap assessment.
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