How to build a successful ERM program as a new leader
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New Head of
Enterprise Risk Management Toolkit
Only 27% ERM leaders report that senior executives & boards consistently act on risk assessment suggestions.
Many ERM programs are lacking clearly defined mandates and stakeholder expectations, resulting in uncertainty about ERM's role and contributions. As a new ERM leader, its imperative you accelerate your transition to drive impact.
Set yourself up for success. Download the Gartner Toolkit for New Heads of Enterprise Risk Management to get access to:
- The Head of Enterprise Risk Management’s First 100 Days Guide
- Leadership Vision: Head of ERM Report
- Risk Management Score Tool
- Strategic Planning Guide for Risk Leaders
- Risk Reporting That Drives Executive Action
- Enterprise Risk Assessment Tool
About Head of Enterprise Risk Management
Effective risk management is a critical driver of business goals. Despite efforts to identify and assess risk, the size and complexity of organizations, along with the constantly changing risk environment, can hamper the ability to make informed, effective decisions. Furthermore, executives with limited resources face the difficult trade-off of meeting rapidly growing expectations while conducting the necessary detailed evaluations of critical risk areas.
Helping organisations navigate the potential impacts of risks on organizational strategy is key to the head of enterprise risk management's value. As a result, many heads of enterprise risk management have prioritised strategic risk-related activities, including:
- Improving risk analysis and appetite practices to determine risk exposures' relevance to the strategic objectives
- Boosting the productivity of ERM’s relationships with strategic risk owners
- Ensuring ERM’s participation in corporate strategy activities
Head of Enterprise Risk Management FAQs
How does the first 100 days roadmap benefit new ERM leaders?
The first 100 days roadmap provides a view of the ERM-specific steps within the five transition stages. This research explores each step in detail to prepare new leaders to assume their duties with confidence.
What are the different transitioning stages for a head of enterprise risk management leader?
The first 100 days for a transitioning head of enterprise risk management (ERM) involve navigating five critical, overlapping phases designed to drive successful outcomes. These stages are:
- Prepare: Learn about ERM’s core activities
- Assess: Measure the function’s current maturity
- Plan: Gain visibility into threats facing enterprise strategic initiatives
- Act: Work with the ERM team to brainstorm possibilities
- Measure: Assess ERM team based on a maturity model
What are the key challenges for a new head of enterprise risk management?
New heads of ERM often come into the role uncertain of how the function is run. Due to this, many leaders encounter several key challenges such as:
- Building an understanding of the function's operations
- Quickly acquiring deep knowledge of responsibilities and organizational mandate
- Coordinating with senior leaders who may view ERM as a roadblock
- Demonstrating the benefits of ERM to gain acceptance in strategic discussions