Banking by nature is a risk business. Enterprise Risk Management (ERM) is the ability to understand, identify, measure, monitor, and control the significant risks faced by an organization on all levels and divisions. A well-designed ERM program can improve operational efficiencies, enhance an organization’s risk control efforts to support critical strategic and compliance, initiatives, and provide timely information for better capital resource allocation decisions. It addresses regulatory expectations including COSO guidance. Risk management of critical areas such as credit, liquidity, and operational management are part of a comprehensive ERM program.
We recognize that each institution is unique and your ERM program should fit your organization’s goals and strategic initiatives. At Bank Strategic Solutions, we can help your institution apply an integrated approach to identify and assess the level and type of risks, evaluate infrastructure and develop an effective response to control or mitigate concerns.
Amy Pierce is a Certified Enterprise Risk Professional (CERP)