The first step towards managing risk is finding the right tool for the job.

Enterprise Risk Management (ERM)

Enterprise Risk Management (ERM) is critical for success in today’s world. A framework for organizations to manage risks and opportunities, ERM involves identifying particular events and circumstances and assessing the likelihood and degree of impact they may have on the organization, determining a response, and monitoring progress. By proactively addressing risks and opportunities, organizations can protect and create value for stakeholders.

ERM Framework (COSO)

One of the most popular ERM frameworks is COSO, developed by the Committee of Sponsoring Organizations of the Treadway Commission. The COSO framework outlines a strategic cross-enterprise process designed to identify potential hazards and events, and allows senior management to manage its risks for the greatest likelihood of achieving its corporate goals and objectives

The framework examines four broad aspects of business operations: strategy, the company’s high-level goals, aligned with and supporting the organization's mission; operations, the effective and efficient use of its resources; financial reporting, the reliability of its operational and financial reporting; and compliance, conformity with applicable laws and regulations.

The framework evaluates the internal environment, objective setting, event or risk identification, risk assessment, risk response, control activities, information and communication, and monitoring.

Spider Risk Management Solutions

The Corporate Management Suite (CMS) provides a structured approach to ERM monitoring and reporting. CMS allows you to create ERM and COSO scorecards, allowing for continuous monitoring, management, reporting, and communication. Features include:

  • Dashboards & Scorecards - continuous monitoring and assessment
  • Strategy maps - strategic alignment
  • Customized scoring and weighting - setting objectives and assessing risk
  • Meeting Manager - coordinated and timely oversight and response
  • Action Planner - monitoring progress on ERM initiatives and tasks
  • Report Writer - customized compliance and financial reporting
  • Document Manager - a central system for tracking all documents and changes

CMS can either be hosted on a monthly basis, or purchased for local installation. It's easy to get started. Sign up for a Free Trial today, and when you're ready to purchase, simply contact us at 202-349-7134.

For more information on Spider Strategies’ ERM Solutions, please Contact Us.