Mandate and commitment to the ERM framework
Agreement in principle to proceed with ERM
Gap analysis
Context for framework
Design of framework
Implementation plan
Risk management policy
Policies for the ERM framework, its processes and procedures
Policies for risk management decisions:
Risk appetite
Risk criteria
Internal risk reporting
Integration of ERM in the organization
Risk Management Process (RMP)
Context
Risk assessment (identification, analysis, and evaluation)
Risk treatment
Monitoring, review, and actions
Communications and consultation
Communications and reporting
Accountability
Risk ownership and risk register.
Managers’ performance evaluation
Monitoring, review, and continuous improvement
Responsibility for maintaining and improving ERM framework
Approach to risk maturity and continuous improvement of ERM framework
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