ERM Lays Foundation for Regulatory Compliance
Business Insurance's article "ERM lays foundation for regulatory compliance" features commentary from Joe Underwood
of Albert Risk. The article discusses the linkages between compliance strategies and enterprise risk management.
The article begins...
An enterprise risk management process in line with ISO 31000 and other standards can help risk managers and their organizations navigate an ever-more-complicated regulatory compliance environment, according to industry experts.
Public and private organizations must deal with directives spelling out their responsibilities in many areas, ranging from data security to employment practices and safety. And failure to comply with a regulatory directive can lead to fines or a hit to an organization's public standing...
"A primary objective within an ERM program is to establish appropriate ownership of risks across an organization," said Joe Underwood, a principal and ERM and risk technology service leader at Albert Risk Management Consultants in Needham, Massachusetts. “This is particularly important for compliance risks,” he said. “You don't want people unclear on who has responsibility for ensuring compliance, because a given compliance issue may touch on different departments.”
To view the full article, visit http://www.businessinsurance.com/article/20150802/NEWS06/308029996/enterprise-risk-management-helps-risk-managers-form-regulatory (subscription required)