Enterprise risk management continued to move more toward the mainstream in Corporate America this year, with its implementation being driven by anxious boards and by CEOs more acutely aware than ever of the need to understand and mitigate existential threats.
This increasing stature of the concept, especially at Fortune 1000 firms, is good news for risk managers: It means greater recognition of the strategic contributions they can make, and ERM's growing acceptance should open up more opportunities for risk managers to consult with a company's top decision-makers.
In our own insurance industry, ratings agencies are helping push the practice of ERM further up the C-suite "Must Do" list.
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