Ask the Experts
The ability to effectively communicate the value of ERM is a key soft skill for ERM practitioners and executive champions. One of the most powerful tools that ERM practitioners and executives have at their disposal to advance the next generation of ERM, is telling compelling stories about ERM successes. Compelling storytelling about ERM success can help leaders and staff emotionally buy into ERM as a mindset, and can help raise the visibility and impact of ERM across the organization.
Speakers: Christine Jones, Associate Deputy Assistant Secretary for Finance, U.S. Department of Health and Human Services (HHS)
The session addressed the role of the Office of Inspectors Generals (OIG) in combating fraud, waste and abuse and promoting efficiency and effectiveness. The session focused on: 1) balancing the complexities associated with a dual reporting requirement (both to the head of agency and congress — “straddling the barbed wire fence”), and public transparency obligations; 2) OIG responsibilities in countering fraud, including program fraud and official misconduct (case examples and areas of collaboration to be discussed); and 3) challenges and opportunities, including leveraging emerging trends, data analytics and risk assessments across the federal landscape to counter fraud.
This session explores the intersection between the Federal data strategy, IT modernization initiatives, and Enterprise Risk Management (ERM). During the session, we discussed how leveraging data as a strategic asset and implementing cloud technology can improve agencies’ ERM programs.
Speakers: Karen Weber, Department of Treasury; Neeraj Gupta, Consumer Financial Protection Bureau
While the tools in the ERM playbook are helpful in gathering information on risk and then prioritizing risk, often a more fruitful examination of cross-functional risk may be accomplished through gaming, experimentation, or scenario-based planning. These techniques involve examining/walking through a given scenario (or set of scenarios) with pertinent organizational stakeholders, employing various methodologies to frame the problem and provide as much (or as little) structure, as needed. The scenario may be supported by technology (gaming tools, Google maps with data overlays, etc.) however the keys to success is having a facilitation team, skilled in expert elicitation, guiding the discussion, capturing the interchanges, then analyzing the results to assess and prioritize potential outputs to better inform risk management.
Typically, organizations face three kinds of strategic risks: risks to their strategy; risks from their strategy; and misalignment between strategy and culture and/or stakeholder expectations. This session examined risks and opportunities inherent in: setting strategy; aligning strategy with internal organizational culture and external stakeholder expectations; and translating strategy into successful program implementation. Seven selected strategic risk tools and “How-To-Apply Tips” will be highlighted.
Speakers: Zack Poimboeuf, ASFR, Department of Health & Human Services
This session looked back at how Enterprise Risk Management (ERM) has evolved in the recent years since the 2008 Financial Crisis and will look forward to the next frontier and evolution for ERM.
Speakers: Mike Leibrock, Managing Director, Head of Credit Risk & Chief Systemic Risk Officer, Depository Trust & Clearing Corporation
Partnership between the Communications and ERM teams in Canada Revenue Agency (CRA) and the development of a strategy for managing, mitigating and measuring reputational risk.
Speakers: Brian Philbin, Assistant Commissioner of the Audit, Evaluation, & Risk Branch & Chief Audit Executive, CRA; Maxime Guénette, Assistant Commissioner of the Public Affairs Branch & Chief Privacy Officer, CRA