Enterprise Risk Management Careers

Enterprise Risk Management Careers

Encompassing All Business Operations Globally

 

Enterprise Risk Management (“ERM”) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization’s financial capital and earnings.

ERM represents a significant evolution beyond previous approaches to risk management in that it:

• Encompasses all areas of business and organizational exposure to risk (financial, operational, reporting, compliance, governance, strategic, reputational, etc.)

• Prioritizes and manages those exposures as an interrelated risk portfolio rather than as individual “silos”

• Evaluates the risk portfolio in the context of all significant internal and external environments, systems, circumstances, and stakeholders

• Recognizes that individual risks across the organization are interrelated and can create a combined exposure that differs from the sum of the individual risks

• Provides a structured process for the management of all risks, whether those risks are primarily quantitative or qualitative in nature

• Views the effective management of risk as a competitive advantage

• Seeks to embed risk management as a component in all critical decisions throughout the organization.

 

Career opportunities in ERM include disciplines of:

  • Accounting ……………………………… Managing the flow of billions of dollars
  • Finance ……………………………… Investment portfolio management
  • Mathematical Analytics …………………. Data analytics and actuarial science
  • Public Relations ……………………… B2C – managing reputational risks
  • Marketing and Communications ……… Multi-channel media messaging
  • I T / Technology ……………………… Systems and Data management
  • Cyber Security ……………………… Prevention and remediation
  • Auditing ……………………………… Internal, external, systems & procedures
  • Compliance ……………………………… Regulatory, internal operations
  • Regulatory Management ……………… State, federal, international
  • Financial Compliance …………………….FINRA, Red Flags, etc.
  • Business Operations ………………….. Process improvement, Six Sigma, etc.
  • Legal (attorney’s, paralegals) …………. Assumed, Avoided, Transferred Risks
  • Science / Engineering …………………. Climate, Physics, Aeronautical
  • Financial Risk Management ………….. Loss prevention, reduction, safety, wellness
  • Marketing / Sales …………………….. Multi-channel distribution

 

 

Career benefits in the ERM Profession:

Flexible work schedules > Professional career development paid for by the employer > Travel – locally, nationally and globally > Global interaction with other professionals > Strong professional societies supporting career oriented professionals > Strong community service commitments by employers > Excellent income potential

Build your own Career – it’s what you make of it!

 

 

 

 

 

AICNMF
nicole@azinsurance.org