Homework: ERM Road Map
Overview
The following material may be useful for the completion of this homework. You may refer to the documents Embracing Enterprise Risk Management: Practical Approaches for Getting Started and Developing Key Risk Indicators to Strengthen Enterprise Risk Management at the Committee of Sponsoring Organizations of the Treadway Commission website.
Imagine you are an information technology manager employed by a business that needs you to develop a plan for an effective enterprise risk management (ERM) program. ERM has not been a priority for the organization, but failed corporate security audits, data breaches, and recent news stories have convinced the board of directors that they must address these weaknesses. As a result, the CEO has asked you to create a brief overview of ERM and provide recommendations for establishing an effective ERM program to address this area.
Task
Write 3 to 4 pages paper in which you:
• Summarize the COSO Risk Management Framework and COSO's ERM process.
• Recommend the approach management should take to implement an effective ERM program. Include the issues and organizational impact they might encounter if they do not implement an effective ERM program.
• Analyze the methods for establishing key risk indicators (KRIs).
• Suggest the approach that the organization should take to link the KRIs with the organization's strategic initiatives.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
• Propose a risk management program based on the COSO framework.