Insight

Your risk culture: An ERM enabler or barrier?

This white paper, developed in collaboration with the Association for Federal Enterprise Risk Management (AFERM), explores risk culture as a critically important factor for federal agencies to successfully implement enterprise risk management (ERM).

On July 15, 2016, the Office of Management and Budget issued the most significant revision to Circular A-123 in over 30 years, mandating that federal agencies adopt enterprise risk management (ERM). Implementation will require significant operational changes. Success will hinge on agencies' abilities to transform their norms, attitudes, and behaviors relative to risk management, meaning their risk culture.

Your risk culture: An ERM enabler or barrier?

Culture operates in the absence of formal direction, such as written policies and procedures and influences what actually happens even when there is formal direction.

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Navigating uncertainty through ERM

This report discusses the transformative changes to OMB Circular A-123 and provides 10 critical elements for consideration in successfully implementing enterprise risk management programs.