As the Chief Risk Officer (CRO) of The EGO corporation, your position involves the oversight of internal processes and the ownership of the enterprise risk management (ERM) program which will be deployed throughout the organization.
One of your first responsibilities, in your new role, is to design a complete risk management program covering traditional risk management and financial Enterprise Risk Management (ERM) and to develop the structure of the process including the link to other groups within the organization. The plan is for you to roll out the new structure and process to the leadership team in the coming months, with a targeted full deployment at the beginning of the coming year.
To support the rollout to the leadership team, the CEO has asked you to develop a report that covers the overall structure and key characteristics of your proposed plan. The report should cover the following topics:
Develop the business case for the implementation of a comprehensive enterprise risk management program, including the expected benefits
How will the program be structured (centralized, decentralized, hybrid, etc.) and who will be involved?
Will an external framework be used as the basis, such as COSO or ISO – please provide detailed insight.
How will risks be identified, analyzed and managed?
What technologies will be deployed to support the program?
How will data be collected and managed across the organization?
How will other functional groups, such as internal audit and accounting, be included in the process?
How will compliance requirements, both internal and external, be assessed and met by the new program? Provide a least one detailed example of an internal and external compliance requirement that will be faced by the organization and how it will be handled within the program.
How will the program support business continuity management?
Instructions:
Your Portfolio Project must be completed in a Word document of 7-8 pages, not including the title and reference pages.
Cite and integrate at minimum 12 supportive sources (at least 10 are scholarly)
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