Enterprise Risk Management, more commonly known as ERM, is the process of systematically identifying, assessing and mitigating risk across an organization.
Risk is defined as anything that prevents an institution from meeting its objectives and fulfilling its mission.
The ERM process ideally is a continuous feedback loop consisting of the following components:
• risk identification
• risk analysis
• risk mitigation
• process assessment and improvement
At RiskClimate, we have designed our approach to ERM software and consulting based on the most current versions of Committee of Sponsoring Organizations (COSO) and the International Organization of Standardization (ISO 31000) standards. We keep the ability to accommodate institutional differences and preferences at the forefront of our practice.
Our Solution - STORM 1.0