Effective ERM Sustainment And Social Media Risk

Today, the marketplace is exhibiting with greater frequency what the 2008 financial crisis crystallized: volatility and risks are arising more often and from more varied sources. In particular, rapidly evolving technology and flourishing social media are spawning new risks that must be assessed with particular vigilance.

For boards of directors and senior executives, effective governance of Enterprise Risk Management (ERM) is now a fundamental priority. While many organizations have an ERM framework in place, the challenge is to sustain these frameworks in light of a shifting global technological landscape. The following examples and best practices demonstrate what leading organizations are doing to sustain the effectiveness of their risk frameworks and board / management oversight. These can serve as helpful models for leaders of organizations wishing to do the same.