Corporate Governance Risk Management Program Overview

Programs are designed to interoperate and coordinate activities across multiple front-line operational processes within a company, adhering to risk-based standards. The purpose is to prioritize and uncover business insights, engage key stakeholders, to systematically gather data to ensure that operations align with the organization’s strategic goals, and to enable evidence for risk assurance by front-line operational business managers to be provided to leadership. These standards are embedded within a risk management system, enabling the program to provide comprehensive oversight. This structured approach helps ensure compliance and enhances operational efficiency, fulfilling the board of directors’ fiduciary duties regarding risk management. The aggregated information from these processes is then presented to the board, auditors, and regulators, providing assurance that risks are managed within the board’s defined tolerances for misstatements, inefficiencies, and errors.

About the Risk Maturity Model (RMM):

Since its establishment in November 2006, the Risk Maturity Model has been utilized globally by over 3,000 organizations. Chief Risk Officers and their teams leverage this framework to align with industry best practices across seven attributes, 25 success factors, and 71 competency drivers. The model facilitates the engagement of risk management champions across various business levels and silos, helping teams build consensus for setting achievable quarterly milestones and effectively communicating with their board, risk committee, rating agencies, executive management, regulators, auditors, and other stakeholders. Research shows that companies with mature ERM programs, as assessed by this model, typically realize a 25% higher market value.

Program Details

Initial Assessment: The program begins with a 45-minute Risk Maturity Model readiness assessment to evaluate your organization’s risk management and corporate governance maturity.
Comprehensive Reporting: Risk leaders use the assessment results to demonstrate to the board and risk committees that their organization’s risk management and corporate governance processes meet the required standards for quality and completeness.
Training and Resources: The program includes training materials to promote a common risk culture, outlining clear roles, responsibilities, goals, measures, and validation points for accountability.

Implementation and Benefits:

Annual Certification: Participating organizations receive annual certification for their risk champions, enhancing their credibility and recognition through the RMM Recognition Awards.
Audit Preparation: An Internal Audit Guide helps teams prepare for annual risk management and corporate governance audits, ensuring compliance with established performance standards and procedures.
Professional Networking: Organizations recognized for Excellence in Risk Management and Corporate Governance gain access to a network of successful peers, enhancing their public commitment to robust risk management practices.

Recognition Program:

Launched in 2015, the RMM Recognition Program highlights leaders in enterprise risk management by recognizing organizations that achieve a sustainable and repeatable process, as defined by the RMM. Qualification involves achieving a specific maturity level on the RMM assessment, completing the assessment within the designated time frame, and passing a brief review process.

Audit Guide for Risk Management:

This guide provides auditors with the standards necessary to evaluate their organization’s risk processes comprehensively. It ensures consistency and objectivity in risk management practices and supports effective communication with stakeholders by ensuring that risk-related data and statements are accurate and reliable.

Contact and Further Information:

For more details or to participate in the program, please contact LogicManager at communications@logicmanager.com, or access the Corporate Governance Risk Management Program Free Trial Assessment and complimentary Audit Guide through the provided links.