Enterprise Risk Management
Enterprise Risk Managment (ERM) is a rapidly emerging business discipline that provides a process for understanding and monitoring the myriad of risks faced by organizations of all types. MAC students concentrating in ERM can leverage NC State’s reputation and brand in ERM to explore career opportunities with large firms who have developed practice lines in risk advisory, or can take on risk management career opportunities in corporate and government sectors.
Risk management is becoming an expected core competency of all individuals who seek to be in executive leadership positions. Businesses are assigning the “ownership” of certain risks to business unit leaders throughout the organization, holding them accountable for the management of those risks within their areas of responsibility. Thus, if you aspire to ultimately be in a leadership position within an organization you will benefit from formal training related to enterprise risk management.
Most of the major professional service firms including each of the “Big Four” firms—Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers— and national and regional firms—Grant Thornton, RSM McGladrey, BDO, Cherry Bekaert—have well developed risk management advisory practices. Our contacts at these firms report that this is a rapidly growing practice area, and they will be expanding staff devoted to these practice lines over the next few years. But, perhaps your interest is to pursue a career in auditing or tax. The ERM curriculum helps provide auditors an important strategy and risk foundation that they will draw upon in an audit or tax engagement.
All ERM concentration students must take the following electives:
- MBA 518—Overview of Enterprise Risk Management (summer or fall)
- MBA 519—ERM Practicum
- BUS 590—Introduction to Data Analytics
When students leave the practicum, I think they realize they have really added value to a company. It’s been more than a class or project, it’s been a value adding activity for the clients we serve.
Dr. Mark Beasley
Director, ERM Initiative
The Enterprise Risk Management Initiative at NC State is recognized globally for its thought-leadership regarding this important topic. The Initiative’s website receives over 190,000 visits per year, consistently high in Google searches related to ERM, and our faculty are highly regarded internationally for their ERM expertise.
Please visit the Initiative’s website, www.erm.ncsu.edu to learn more about ERM and the ERM Initiative at NC State University.