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ITS 835 Chapter 12

Measuring Performance at Intuit Enterprise Risk Management

Professor Miguel Buleje

Introduction

• Intuit’s ERM Journey

• ERM Maturity Model

• Benefits of Measuring Performance in ERM Models

• ERM Performance Measurement and Reporting

• Conclusion

Intuit’s ERM Journey • INTRO to Intuit: Biz and Financial Software Corporation. Offerings

include QuickBooks, Quicken, Turbo Tax

• Began with ad hoc risk management

• Very common entry point • Escalated to ERM when seminal event occurred

• Desire was to stop firefighting and start prevention.

• Proactive approach, as resources were pulled from Operations

• Intuit ERM Core Principles

1. Enterprise-wide risk framework 2. Risk assessment is ongoing 3. Focus on most significant risks 4. Ownership and accountability 5. Measure and monitor performance

ERM Maturity Model

Benefits of Measuring Performance in ERM Models

• Key Performance Indicators (KPI) • Based on business objectives • Quantitative and qualitative KPI • Leading (looking into future/ predictive approach) and • Lagging (trending / historical performance) indicators • Input, process, and output indicators ( optimized for end to end

processes).

• KPIs must be • Tangible • Flexible • Standardized • Outcome or objective focused

ERM Performance Measurement and Reporting

• First evolution - ERM process adoption

• Second evolution – Risk Mitigation Process Management

• Third Evolution – Multidimensional Risk Management Performance Measurement

• Outcome: executive dashboard for reporting.

ERM Process Adoption

Risk Mitigation Process Management

Multidimensional Risk Management Performance Measurement

Conclusion

• At Intuit, risk management is everyone’s responsibility

• ERM must be a core business competency

• Coordination is a key to success

• ERM Recognizes • Upside opportunity

• Downside risk

• ERM process is regularly audited

• ERM is an integral part of Intuit’s operating model