GOVERNMENTS AND AGENCIES
Each type of government entity manages risks and opportunities unique to their organizations' business models and priorities to achieve their mission and operational objectives.
FEDERAL, STATE AND LOCAL GOVERNMENT TRANSPARENCY MOVEMENT
Transparency is being driven internally and externally at all levels of government. Entities such as Open the Books aggregate government spending and provide free internet availability for government employee compensation, spendings, etc.
The Open the Books website includes a free widget for searching spending and salaries by state and zip code. Try it today to learn more about current initiatives for increased government transparency.
EACH AGENCY HAS UNIQUE BUSINESS MODELS
Each business model results in different risks and opportunities that drive specific risk awareness and management approaches for entities to achieve their missions and performance objectives.
SEARCH SEC EDGAR COMPANY FILINGS BY SIC CODE FOR RELEVANT INDUSTRY RISK AND BUSINESS DISCLOSURES
Enter your entity SIC Code in the U.S. Securities and Exchange Commission (SEC) EDGAR Company Filings Search Tools to access regulatory filings such as Form 10K (Annual Report) to review the relevant Risk Factors for publicly traded companies in the same industry.
Each functional area and agency in government entities aligns with and contributes to the mission & strategies of the governmental body.
Each functional area operates and manages key risks and opportunities differently based on their unique purpose, skill sets, approaches, and corresponding views (lenses). The level of due diligence applied to key risks and process sub-categories drive value creation and value protection.
Each day key stakeholders should operate at a performance, awareness, and transparency level similar to that applied during an acquisition or divestiture due diligence initiative.
Enterprise Risk Management (ERM) enables functional area strategic objectives and risk appetites to be aligned with operations, reporting, compliance, & the control environment.
The RISK TRANSPARENCY Risk Governance Framework (RGF) is a simple way for any entity in any industry to aggregate their Board of Directors and Executive Leadership governance over key functional areas, key processes, risks, and risk appetite levels.
ENTITY OBJECTIVES AND FUNCTIONAL AREAS
LEARN MORE ABOUT ENTERPRISE RISK TRANSPARENCY
Enables balancing the risk and reward quotient of value creation with value protection to control outcomes over time.
ENTERPRISE RISK MANAGEMENT (ERM)
RESOURCES FOR GOVERNMENT ENTITIES
The United States Chief Financial Officer Council released the Enterprise Risk Management Playbook
in July 2016
ROCKEFELLER FOUNDATION PIONEERED
100 RESILIENT CITIES (100RC)
100RC is dedicated to helping cities around the world become more resilient to the physical, social and economic challenges that are a growing part of the 21st century.
U.S. DEPARTMENT OF ENERGY ERM
DIRECTIVES PROGRAM, OFFICE OF MANAGEMENT (MA-1.2)
The following information is from the U.S. Department of Energy Enterprise Risk Management (ERM) Model website and provides free useful ERM frameworks, models, overviews, and tools.
The Enterprise Risk Management Model is a new standardized framework that the Department will be using to develop, revise, and review Departmental Directives. It creates a uniform process to (1) evaluate risks and opportunities, (2) assess the relative cost/benefits of these risk/opportunities, (3) identify external controls and mechanisms that address these risk/opportunities, and finally (4) determine what controls (if any) are needed to address these risks and opportunities.
Below is a white paper developed to communicate the foundation of the Enterprise Risk Management Model. The PowerPoint presentation, developed by the Directives Team, is intended to act as an instructional document for the use of the ERM risk assessment tool.
This training module will be updated as needed based on feedback provided during training sessions.
ERM Tool (downloadable)