Over the past two decades, the concept and practice of risk management has grown and matured significantly. However, it has done so in very inconsistent ways, with different organisations and industries creating their strategies and defining them differently with different responsibilities, authority, role, tolerance levels and interrelationships for internal controls, risk management, enterprise risk management and strategic risk management.

The COVID-19 was a fine reminder of the importance of ERM to organisations. Due to the evolving nature of risks and growing impact of incidents, the CRO in a boardroom is more influential and responsible than ever. Investing in risk management tools and strategies is no more to just identify and mitigate risks but also to create incremental value and business opportunities, from both a financial perspective but more from a reputational and culture perspective.

Moreover, there has been little discussion of how these considerations are to be related to the overall performance, objectives and resource allocations of organisations.

This panel will discuss how the sound ERM strategy can link all of these topics and related concepts into a management framework effectively while delivering maximum stakeholder value for enterprises.