By John Harrison and Carol Raimo, Protiviti
“What is the totality of our enterprise risk?” That’s a question being raised more often in today’s boardrooms as organizational leadership comes to realize that effective enterprise risk management (ERM) entails more than just the monitoring of financial risk. While financial risk is still an ongoing concern, enterprises also must be vigilant about identifying and being prepared to respond proactively to a wide range of risk, such as: strategic risk; environmental- or health-related risk; political/geopolitical risk; operational risk; and legal and compliance risk.