Enterprise Risk Management (ERM)
Enterprise Risk Management Solutions for Proactive Risk Mitigation
Risk is a constant in today’s business environment, impacting strategic objectives, operations and financial performance. At Withum, we provide tailored enterprise risk management solutions to help organizations develop and enhance their enterprise risk management programs, addressing risks such as regulatory changes, operational disruptions, and emerging threats like AI, cybersecurity, and third-party vulnerabilities.
Our ERM Approach
Withum’s risk management consultants take a collaborative approach, working closely with your team to design risk management solutions aligned with your organization’s culture and goals. We typically begin with risk assessment workshops or stakeholder surveys to uncover and prioritize risks, laying the groundwork for a clear response strategy.
Assess Your Current Risk Posture:
Identify and prioritize key risks and evaluate exisitng mitigation strategies.
Develop a Customized ERM Framework:
Build an enterprise risk management program aligned with your strategic objectives.
Implement and Optimize Risk Controls:
Establish processes for monitoring, reporting and mitigating risks.
Integrate ERM with Business Operations:
Ensure seamless risk management across all departments.
What You’ll Walk Away With
Based on the scope and goals of the engagement, clients are provided with tailored support to:
- Identify and assess risks (surveys and workshops)
- Prioritize risks (surveys and workshops)
- Prepare mitigation strategies plans, including responsible parties and action items, timelines and due dates (workshops, mitigation plan templates)
- Monitor risk mitigation plan execution through Project Management Support (status calls, project plan updates, status reports and KPIs)
- Additional tailored resources to meet your organization’s specific needs (policies and procedures, performance objectives refinement, employee handbook updates, ERM process guide, etc.)
These deliverables and resources support ongoing risk monitoring and help embed risk awareness across departments, empowering organizations to maintain and evolve their enterprise risk management program over time.
Success Story of Strengthening Impact through Enterprise Risk Management
See how one non-profit strengthened its impact through a tailored ERM approach in our latest success story.
Why an Enterprise Risk Management Program Matters
A well-structured enterprise risk management framework delivers:
Risk Mitigation and Prevention
Identify, assess, and address potential threats before they escalate.
Stronger Decision-Making
Leverage data-driven insights to improve risk response strategies.
Regulatory Compliance
Align with industry standards and evolving compliance requirements.
Stakeholder Confidence
Reassure investors, donors, employees and customers with a transparent risk management approach.
Operational Stability and Growth
Enhance business continuity and scalability while reducing financial uncertainties.
For Nonprofits:
A structured enterprise risk management program can enhance funder and donor confidence, leading to increased funding opportunities.
For Businesses:
A proactive enterprise risk management strategy builds trust among shareholders, investors, employees, and customers, reinforcing your organization’s credibility and operational resilience.
Failing to take a proactive approach can lead to serious consequences, ranging from regulatory fines, legal consequences and financial losses to reputational damage and loss of stakeholder trust.
Contact Us
Let’s build a resilient, forward-thinking ERM program tailored to your needs. Contact Withum’s Enterprise Risk Management Consulting Services Team to get started.
