Proceedings of The 5th International Conference on Business, Management and Finance
Enterprise Risk Management Implementation Across Organisational Levels
Julia Mamaria Sefako, Makgopa Tshehla
Organisations adopt and implement enterprise risk management (ERM) to provide risk governance structures, risk management strategies, frameworks, policies, technology, and other key measures to ensure effective management of risks. These reflect organisational commitments towards maturing ERM. However, despite these key ERM initiatives being deployed in most organisations, there are still numerous ERM failures. This study aims to evaluate the alignment of ERM efforts at the strategic and operational levels. The research adopted a literature review to propose a framework that will facilitate an evaluation of ERM across organisational levels. The findings reveal eight components of ERM required for the alignment of ERM efforts at the strategic and operational levels. These components are ERM scope, ERM competencies, ERM governance, ERM assurance, ERM infrastructure, ERM process, ERM skill and ERM tools. This research contributes to developing an ERM framework for implementation across organisations. This will strengthen the ERM framework to align the organisational with operational ERM implementation.
keywords: corporate governance, enterprise risk management, ERM failures, ERM alignment .