... FUNDAMENTALS & ROLES • • • • • • • The Fundamentals COSO Enterprise Risk Management Role of Executive Management Role of the Director Role of the Chief Risk Officer Risk Management ... The Fundamentals What is Enterprise Risk Management (ERM) ? “a process, effected by an entity’s board of directors, management and other personnel, applied in strategy-setting and across the enterprise, ... • ERM elevates risk management to a strategic level 15 The Fundamentals ERM Value Proposition • establishing sustainable competitive advantage • optimizes the cost of managing risk • helps management...