I am still working on my risk management competency. I am now aware of the ERM framework by the US Bancorp which serves as a guideline to perform ERM based audits. I have met the objective I had for reading this article however I still have other areas of risk management that I can explore. Currently it will not impact my team however I have gained knowledge in ERM framework that will be of help for the future of my career

Useful information on an enterprises risk management status. Helps to understand what areas to look for in terms of risk

For Successful Enterprise Risk management as part of internal audit, collaboration must be achieved across all functions/departments. This can be helped by the following steps:

1. Explanation of ERM role
2. Reflect the Organisation's Governance strategy
3. Define Actions & Objectives of ERM
4. Treat ERM as an additional line of defence
5. Take Time
6. Meet Frequently
7. Benchmark