Today’s organisations face an increasingly complex set of risks. As a result, key internal and external stakeholders have increased their scrutiny of and expectations for risk management, raising significant questions around risk and how it is addressed.
Enterprise Risk Management (ERM) provides a framework to understand and respond to business uncertainties and opportunities with relevant risk insight delivered through common, integrated risk identification, analysis and management disciplines. ERM enhances organisational resiliency by improving decision making, strengthening governance and supporting a risk intelligent culture.
Aon believes in a phased and structured approach to implementing ERM so that organisations can develop baseline frameworks than can be expanded and enhanced over time.
Aon’s ERM practice advises major organisations around the world and leverages Aon’s global capabilities and industry expertise to deliver integrated and sustainable enterprise risk management solutions. Practice members have extensive experience with enterprise risk assessment, implementation and leadership in a corporate environment and have worked in a variety of industries and sectors, both public and private.
There is no one-size-fits-all approach to ERM; the design of an ERM programme and its implementation strategy must complement the organisation’s culture and support its ERM goals. Aon’s project teams develop tailored ERM strategies to avoid the perception of ERM as a bolt-on, bureaucratic process. Aon delivers an ERM framework that leverages existing organisational structures and processes and incorporate external best practices. Aon utilises a collaborative, peer-based style; ensuring transfer of ERM knowledge and tools and delivery frameworks that leverage existing organisational structures, processes and best practices.
ERM helps an organisation evolve from a siloed risk approach to a broader view of understanding of risk-reward trade-offs. Aon’s approach aligns ERM with existing governance structures and management processes thereby improving communication and supporting risk-adjusted decision making.