Introduction
· Edmonton – Past and present ERM
· Links to strategic plan and to other strategic tools
· Selecting and testing tools and framework
· Recommended strategic ERM approach
· Lessons learned
Edmonton – Past and Present ERM
· Edmonton – Capital of Alberta, Canada
· Over 800,00 population
· ERM piloted in 2005
· CORPORATE Business Risk Planning (CBRP) model
· Not fully implemented
· Based on COSO
· Adopted strategic plan
· The Way Ahead
· Strategic ERM
Links to Strategic Plan
Selecting and Testing Tools and
Framework
Selecting and Testing Tools and
Framework
Strategic Goals and Objectives
Risks and Strategic Objectives
ISO 31000 Risk Management
PM2 versus ISO 31000
Proposed ERM Framework
Lessons Learned
· Key success factors
· Senior management buy-in
· Culture of innovation
· Consistency of model across goals
· Resource requirements for department SMEs
· Department accountability for key risks
· Process of selecting and implementing framework
· Takes linger than expected
· No system is perfect
· Do not roll out all at once
· Clearly define all milestones and deliverables