A Brief Note On Erm Leadership And Culture

1215 Words Apr 20th, 2016 5 Pages
ERM Leadership and culture
Long gone are the days when risk management was left to a single resourceful person within an organization. The individual assumed the role of reporting to the middle management the specific aspects of the business that need to be changed in an effort to minimize occurrence of risks within an organization. It has however been tested and found true that business risks need to managed at the source regardless of the industry sector. There has been current success in ERM that show clear evidence that everyone has a role to play in enterprise risk management (Oplatka, 2012). Everybody has a role of understanding the risk within their portfolio and have the necessary tools that makes it possible to manage such risks.
An ideal business situation can be categorized into their wider group of personnel each with a specific role to play towards managing risks in an organization. The three broad categories can be classified into strategic risk managers, people managers and technical experts. Technical experts are those employees who have the responsibility of carrying out business operations and are within the functional area of the business enterprise where they deliver goods and services (Thoms, 2008). Transactional focused managers are referred to as people managers and they play the role of motivating employees to accomplish specific tasks within an organization. They are also bestowed with the role of managing experts and implementing corporate…
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