Ask the Experts

A Conversation with Tom Brandt, Chief Risk Officer, U.S. Internal Revenue Service

What are benefits of pursuing enterprise risk management? How can risk management enhance agency decision-making? What is the mission of the Association for Federal Enterprise Risk Management (AFERM)? Join host Michael Keegan as he explores these questions and more with our very special guest, Tom Brandt, Chief Risk Officer, at the US Internal Revenue Service (IRS).

On Managing Risk in Government – A Research Portfolio

Risk is everywhere.

It is a condition of existence and government agencies aren’t immune from the slings and arrows of uncertainty. Risk takes many forms and continue to morph and transform with the pace of technology and the reality interconnectedness. It is a leadership imperative for government executives to mitigate the potency of uncertainty by managing the realities of risk and the IBM Center can help them…mitigate risk and make better decisions. Tackling risks requires the right tools and recognized best practices. Dr. Karen Hardy’s report outlines the fundamentals of enterprise risk management ERM in government…answering the how to and the why not? The first step in tackling risk is defining it and it isn’t always negative. Risk can present opportunities. Government Leaders can redefine risk as “uncertainty that matters” and Dr. Doug Webster and Tom Stanton can show you how… outlining practical steps to improving decision making using ERM. Many federal programs are at risk unable or incapable to achieving missions mitigating program risk is key to making government work better. Prof Donald Kettl report, provides a guide of steps risky federal programs can take to manage risk, improve results. Whether you face …. Integrity Risk Financial Risk Cyber Risks Or, risks associated with technological breakthroughs and disruptions…

This video provides an overview of many IBM Center for The Business of Government resources on risk.

ERM in Government Textbook: “Enterprise Risk Management: A Guide for Government Professionals”

Enterprise Risk Management: A Guide for Government Professionals is a practical guide to all aspects of risk management in government organizations at the federal, state, and local levels. Written by Dr. Karen Hardy, one of the leading ERM practitioners in the federal government, the book features a no-nonsense approach to establishing and sustaining a formalized risk management approach, aligned with the ISO 31000 risk management framework. International Organization for Standardization guidelines are explored and clarified, and case studies illustrate their real-world application and implementation in US government agencies. Tools, including a sample 90-day action plan, sample risk management policy, and a comprehensive implementation checklist allow readers to immediately begin applying the information presented.

The book also includes results of Hardy’s ERM Core Competency Survey for the Public Sector; which offers an original in-depth analysis of the Core Competency Skills recommended by federal, state and local government risk professionals. It also provides a side-by-side comparison of how federal government risk professionals view ERM versus their state and local government counterparts.

Enterprise Risk Management provides actionable guidance toward creating a solid risk management plan for agencies at any risk level. The book begins with a basic overview of risk management, and then delves into government-specific topics including:

  • U.S. Federal Government Policy on Risk Management
  • Federal Manager’s Financial Integrity Act
  • GAO Standards for internal control
  • Government Performance Results Modernization Act

The book also provides a comparative analysis of ERM frameworks and standards, and applies rank-specific advice to employees including Budget Analysts, Program Analysts, Management Analysts, and more. The demand for effective risk management specialists is growing as quickly as the risk potential. Government employees looking to implement a formalized risk management approach or in need of increasing their general understanding of this subject matter will find Enterprise Risk Management a strategically advantageous starting point.

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The Business of Government Hour: Conversation with Authors with Tom Stanton and Doug Webster

An audio conversation with AFERM members Tom Stanton and Doug Webster discussing: What is Enterprise Risk Management? How can federal agencies successfully implement ERM? What are some of the key challenges implementing ERM? Join host Michael Keegan as he explores these questions and more with Doug Webster and Tom Stanton, authors of Improving Government Decision Making through Enterprise Risk Management.

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Why ‘complete ERM’ is a myth

A CGMA Magazine article by Neil Amato. Risk oversight has grown in importance among all types of organisations this decade, but some of the gains can be attributed to public companies responding to US Securities and Exchange Commission (SEC) rules related to risk disclosures…

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ERM Basics for A-123

Government agencies exist to deliver service that is in the public interest. The delivery of an agency’s objectives is surrounded by uncertainty which both poses threats to success and offers opportunity for increasing success….