ERM reflects forward-looking management decisions and balancing risks and returns so an organization enhances its value to the shareholders and increases its ability to achieve its strategic objectives.
ERM is beneficial since it addresses a fundamental organizational issue: the need for information about major risks to flow both up and down the organization and across its organizational structures to improve the quality of decision-making. ERM seeks to open channels of communication so that managers have access to the information they need to make sound decisions.
ERM seeks to encompass the range of major risks that threatens an organization’s ability to implement their missions, programs, and operations. Most organizations should build their capabilities, first to conduct more effective risk management, then to implement ERM, rating those risks in terms of impact, and finally building internal controls to monitor and assess the risk developments at various time points. To complete this circle of risk management organizations must incorporate risk awareness into the organization’s culture and ways of doing business.
Why you should Attend
Organizations must identify and avoid major catastrophic events. Changing market conditions, employee unrest, negative public relations events, major accidents, legal conflicts, inadequate manpower resources, natural disasters and supply chain disruption are just some of the many risks that challenge an organization.
The objective of Enterprise Risk Management (ERM) is to provide enduring management of internal and external risks that threaten achievement of an organization's mission.
Areas Covered in the Session
- What is ERM?
- Where did ERM come from?
- Why is ERM increasing in popularity now?
- Who is using ERM?
- When is the right time for ERM?
- How do I get started?
Who Will Benefit
- Chief Risk Officer
- Risk Manager
- Compliance Manager
- Risk Assessor
- Risk Analyst
- Risk Specialist
- Internal Auditors
- Senior Executives
James J. Rooney , PMP, is the Managing Director of The QRS Group. He has 40 years of experience in quality, lean six sigma, reliability engineering, risk assessment, incident investigation and process safety management. This includes the application of techniques such as fault tree analysis, failure modes and effects analysis, root cause analysis and hazard and operability analysis. Mr. Rooney has taught enterprise risk management for US government agencies including the Bureau of Fiscal Services, the International Boundary Water Commission (IBWC), and the Mine Safety and Health Administration (MSHA).
A Fellow of the American Society for Quality (ASQ), Rooney sits on the editorial review board of ASQ's Quality Progress magazine and served as the Chair of ASQ's Board of Directors in 2011 - 2012. He has published numerous papers on risk assessment and reliability engineering methods and was a guest editor of the IEEE Transactions on Reliability special issue on chemical process safety.
Mr. Rooney holds 10 ASQ certifications: Certified Biomedical Auditor (CBA), Certified Food Safety and Quality Auditor (CFSQA), Certified Manager of Quality and Organizational Excellence (CMQ/OE), Certified Quality Auditor (CQA), Certified Quality Engineer (CQE), Certified Quality Process Analyst (CPQA), Certified Quality Technician (CQT), Certified Quality Improvement Associate (CQIA), Certified Reliability Engineer (CRE), and Certified Six Sigma Green Belt (CSSB)
Rooney received a B.S. in chemical engineering from the University of Virginia in 1975, an M.E. in nuclear engineering from the University of Tennessee in 1978 and an M.B.A. in management/operations research from the University of Tennessee in 1983.