What is ERM or Enterprise Risk Management

Enterprise Risk Management (ERM) is a new title to an old concept. ERM in its most basic form is the systematic and ongoing evaluation of risks or uncertainties that could delay, compromise or block strategy execution. ERM is simply a systematic method for strategy execution. ERMX powered by BES (Bridge Enterprise Solutions, LLC) and over 20 years of enterprise risk management experience is truly your bridge between great strategy and impressive strategy execution.

Although strategic planning for any organization, particularly a financial institution, is essential, the ability to execute that strategy is a never-ending daily process. Enterprise risk management is the process – defined and formal or informal and undefined – of executing strategy across the organization. It is happening whether you like it or not. The question is whether you captured the full power of the ERM process.

An organization without a definitive process for executing strategy through enterprise risk management is like trying to win on race day with a magnificent thoroughbred, but no jockey and no saddle.

Why is enterprise risk management so important to regulatory authorities? It is because in the most successful banks, financial institutions and mortgage servicing firms regulators see an organization wide system for establishing strategy, reducing barriers to strategy execution and ultimately they see these financial firms get the job done. They have asked you to implement ERM because they want to see you succeed.

While implementation will make your regulator jump for joy, this process is not another box checking regulatory requirement. ERM is quite the opposite. By definition enterprise risk management is a value creation, return generation machine. It is easy to implement because in most organizations the structure is already there. It can cost a fortune, but it doesn’t need to.

Click here and we will give you the seven basic steps your financial institution needs to implement enterprise risk management.

We didn’t invent the strategy; we just made getting it done a whole lot better.