In the wake of the credit crunch, Enterprise Risk Management has quickly found its way to the very top of many management teams agendas. Regulators, both within the financial services industry and outside this industry, are also taking an increasing interest in Enterprise Risk Management in the firms they are regulating.
The disciple of Enterprise Risk Management has often evolved through published standards, starting with the COSO frameworks in the early 1990s through to more recent standards such as BS31100, ISO31000 and ISO31010.
In the post credit crunch environment, many organisations are recognising the role risk plays in the creation of value, and if left unchecked, value destruction. In our current environment, Enterprise Risk Management must be placed at the heart of an organisation's strategic execution process.