The Risk Enabled Enterprise® is a two-year research initiative from Chartis, sponsored by IBM, that looks at the enablers of enterprise risk management (ERM). The aim is to examine the strategic initiatives that firms need to take to become “risk-enabled” across key areas, including organizational structure and process, people and culture, and data and systems. In this report we conclude the research agenda by summing up the key learnings and formulating a maturity model.
Most firms understand that robust enterprise risk management (ERM) will not only improve risk management; it will also help them to measure risk more accurately and develop a more sustainable business model. Over the past decade, risk management has grown in sophistication. Most companies have invested in the structures, systems, and people that will allow them to manage risk and make strategic, risk-aware decisions on an enterprise-wide basis. Despite these investments, many firms continue to find ERM extremely challenging. Firms agree on the challenges associated with their current state, and understand what a future state should resemble. However, very few are confident that they know how to achieve that transformation.