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Who should be concerned about ERM?

 

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Who should be concerned about ERM?

Every employee in a company should be concerned about Enterprise Risk Management (ERM). ERM is a comprehensive approach to managing the risks associated with running a business, and it’s essential for companies to have a well-thought-out plan for managing risk. The most obvious people who should be concerned about ERM are the executive team, including the CEO, CFO, and Chief Legal Officer. These executives are responsible for understanding and managing the risks that the company is exposed to. They are responsible for setting the overall risk management strategy, and they must ensure that the company’s risk management processes are in line with the company’s goals. However, ERM is not just the responsibility of the executive team. All managers, from the top of the organization to the bottom, should be aware of the risks their departments are exposed to, and should be involved in the risk management process. This includes ensuring that their teams are following the company’s risk management policies and procedures, and that they are taking necessary steps to mitigate any risks. In addition, all employees should be concerned about ERM. All employees should be aware of the risks the company is exposed to, and should be aware of the company’s risk management policies and procedures. They should also be aware of any changes to the company’s risk management strategy, and should be encouraged to report any risks they identify. Finally, third-party vendors should also be aware of the company’s risk management policies and procedures. These vendors should understand the risks they are exposing the company to, and should take necessary steps to mitigate those risks. In conclusion, everyone in a company should be concerned about ERM. ERM is a comprehensive approach to managing the risks associated with running a business, and it’s essential for companies to have a well-thought-out plan for managing risk. The executive team is responsible for setting the overall risk management strategy, and all managers and employees should be aware of the risks the company is exposed to and should be involved in the risk management process. Finally, third-party vendors should also be aware of the company’s risk management policies and procedures. .



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