Enterprise risk management: Agility through risk management
With risks constantly changing and new risks emerging, management needs to know when the level of risk exceeds the organization’s appetite and requires action.
What does ‘good’ look like?
To help an organization make risk-informed strategic decisions, a good enterprise risk management program generates intelligence on risks that could impede achievement of organizational goals. Businesses then prioritize investments in programs that will have the greatest impact on reducing or optimizing risk.
- The business anticipates, prepares for and responds effectively to material events and disruptions.
- Risk management decisions are made confidently, based on solid data and effective analysis.
- Risks are communicated clearly throughout the organization as well as to external stakeholders.
- The ERM program continually optimizes and proves value over time by comparing outcomes against predictions.
Enterprise risk management
For your organization to meet its objectives, you need clear visibility and understanding of all material risks that may disrupt achievement of these objectives. Organizations must be agile to seize opportunities while remaining resilient to new inter-related risks, from pandemic and supply chain disruption to cyber and privacy breaches. At the same time stakeholders want to see evidence of environmental, social and governance (ESG) awareness and behaviors. STREAM centralizes, automates, quantifies and reports governance, risk and compliance across the Enterprise on a single integrated platform.
Processes and features
Enterprise risk management is an ongoing process, not a one-time activity. Here are some of the steps involved in enterprise risk management using STREAM.
See, understand and prioritize all risks that may have a material impact on organizational objectives or targets.
Measure the risks
Determine how significant each risk is, using configurable qualitative, quantitative or mixed-mode risk assessments regarding strategic, financial, reputational or other impacts.
Monitor ongoing risks
Stay alert and agile to respond to change, including new risks, and take action when the risk level exceeds organizational tolerances.
Aggregate risk types
Capture multiple risk types enterprise-wide and aggregate into meaningful reports at multiple levels, including business units, processes, programs, suppliers and assets.
Optimize investments based on ROI
Improve performance with ROI-based analysis of risk management investment options.
Provide clear accountability for the performance and actions required to deliver effective enterprise risk management.
Enterprise Risk Management
Download this datasheet to understand how STREAM can help you manage enterprise risks across your business
Download this whitepaper written by award-winning CIO, Philip Clayson to learn about the new risks that come with…
Midland States Bank
Read this customer interview with the CRO of Midland States Bank to learn why they use STREAM to…
Acuity Corporate Brochure
Download the STREAM brochure to learn how we can support you with your Integrated Risk Management challenges.
New paradigms in enterprise risk management
Watch this on-demand webinar to learn about upcoming trends in ERM.
Delivering business and operational resilience in 2021 and beyond
Watch this webinar on-demand to learn how you can build operational resilience into your business strategy.
STREAM Solutions Perspective
Read this review of STREAM Integrated Risk Manager conducted by internationally recognized pundit on GRC, Michael Rasmussen. Michael…
Enterprise Risk Management and the Value of a Centralized, Consistent Approach to Managing Risk
In 2020, “public companies with mature enterprise risk management programs found that their ERM framework paid off during…