ERM White Paper Draws 10K Downloads
The paper, which can be downloaded from the COSO site at no charge, focuses on specific areas where the board of directors and management can work together to improve the board’s risk oversight responsibilities and ultimately enhance the entity’s strategic value. This thought paper expands on an earlier COSO document, Effective Enterprise Risk Oversight: The Role of the Board of Directors, and provides further detail on the four specific areas discussed in it.
Beasley had served on the Project Advisory Council that produced the 2004 ERM Framework just prior to the launch of the ERM Initiative at the NC State College of Management. “Through my work with COSO in developing the 2004 ERM Framework, I began to realize that entities across the U.S. were embracing ERM as an important way to manage risk more holistically across the enterprise. Given that, I realized that we as a business school needed to be more knowledgeable and aware of ERM if we want to effectively prepare and train the next generation of executives,” Beasley said.
Since launching the ERM Initiative in 2005, it has grown in depth and reach. The initiative offers several executive programs each year on ERM topics, and hosts a series of ERM Roundtables each fall and spring, bringing in industry practitioners for a discussion of ERM processes in their organizations. The initiative has also developed a concentration in enterprise risk management for students in the College of Management’s Jenkins Graduate School of Management. The initiative’s website is also a becoming known as a ‘go to’ place for the latest news and information about ERM.
“The vision of the ERM Initiative is to provide thought leadership on enterprise risk management, with a particular emphasis on the integration of ERM in strategic planning and corporate governance,” Beasley said. “We have worked towards that mission by hosting almost 40 ERM Roundtables featuring chief risk officers who describe ERM in their organizations, as well as through executive education for boards of directors and senior executives and the ERM website, an online portal to over 200 abstracts of ERM-related articles, white papers and frameworks, as well as through academic research and our ERM courses for NC State Jenkins graduate students.
