Enterprise Risk Management: A Guide for Government Professionals

Chapter NineERM Best Practices of Federal Agencies

NINETY-DAY ACTION PLAN

• If you are new in the position of risk champion, ensure that the key stakeholders whose buy-in you need are clear about your objective. Often the ERM function is perceived as a shadow audit function and compliance exercise, rather than as a strategic management approach for improving organizational performance. The distinction needs to be made up front and socialized continuously.
• Identify the statutory authority or other comparable law that supports the need for ERM in your organization. The common authority used in federal government is OMB Circular A-123.
• Discover how the organization currently views and defines risk. Work with the highest level of leadership to ...