enterprise risk management
E_RK
marsinc.pptxintroduction
Global rollout
Mars’ ERM history
Reporting
Operating workshops
Conclusion
Mars erm history
Mars, Incorporated
Migration to non-family management
Leadership had legacy commitment to risk management
ERM was viewed as an evolution
COSO versus bespoke approach
COSO – Committee of Sponsoring Organizations structure
Bespoke approach won
Phase 1
Failed due to being impractical and overly complex
Phase 2
Simpler and targeted
Planning workshops
Alignment between Senior goals and ERM
Started with simple template
Operating plan initiative sheet
Objective
Score
Risk column
Risk treatment column
Management team met to define and rank
Risks
Risk treatments
Changed label from “mitigations”
Global Rollout
Used lessons learned from pilot
Workshops helped to identify
Gaps in risk management readiness
High-risk initiatives
Ongoing activities with unexpected high risk
Reporting
Used lessons learned from pilot
Workshops helped to identify
Gaps in risk management readiness
High-risk initiatives
Ongoing activities with unexpected high risk
Reporting, cont’d.
Reporting, cont’d.
Reporting, cont’d.
Operating Workshops
Several ongoing changes
Technology
Word -> Excel
Excel -> purpose-built software
ERM supports aggregation
More complete view of organizational impact of risk
Continual template evolution
Added risk treatment owners and due dates
summary
Several ongoing changes
Technology
Word -> Excel
Excel -> purpose-built software
ERM supports aggregation
More complete view of organizational impact of risk
Continual template evolution
Added risk treatment owners and due dates
