Risk Profile Tear Sheet

This is an example of a tear sheet for a top risk of a risk profile. Agency leaders can see everything they need to see about a risk and what is planned on one page.

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AGA Research Series: An Agency Guide for ERM Implementation

This AGA guide seeks to answer questions about: why ERM, how to integrate ERM into an agency’s culture and ways of doing business, and the value of ERM.

The guide is organized as follows:

  • Section I introduces ERM.
  • Section II discusses the design options for adding ERM to an agency’s processes. There is no one-size-fits-all. Rather, ERM can be viewed as a management tool that, to provide its benefits, requires a good organizational home and integration into other agency processes such as strategic planning, budgeting, and decision making.
  • Section III offers approaches to establishing the ERM function. ERM depends on widespread understanding of its benefits, and this section discusses how that can be achieved in an agency.
  • Section IV discusses the implementation of ERM and how all organizational components – agency managers and staff, the CRO, the risk committeerisk management committee, and especially agency leaders – fit together to make ERM a beneficial reality rather than merely an empty compliance exercise.
  • Finally, Section V concludes with observations about why ERM is such a powerful tool and how it differs from more traditional management approaches.
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OCC Appetite Risk Assessment

The Office of the Comptroller of the Currency (OCC) is an independent agency entrusted with unique powers and authorities to administer the federal banking system. The OCC established its Enterprise Risk Management (ERM) function in 2015 to identify and assess OCC’s mission-critical risks and support the agency in managing those risks. By establishing a systematic approach to identifying, assessing, and managing risk, the OCC intends to continually improve the agency’s governance, increase accountability, and enhance overall performance.

The Office of Enterprise Risk Management, led by the Chief Risk Officer, reports directly to the Comptroller of the Currency and administers the agency’s ERM framework. As part of the framework, the Risk Appetite Statement articulates the level and type of risk the agency will accept while conducting its mission. This statement is the result of a careful evaluation of how risks affect the agency’s ability to achieve its strategic goals.

The Risk Appetite Statement establishes risk tolerance in nine categories

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2016: PBGC OIG ERM Framework

This memorandum is to document the establishment and implementation of an Enterprise Risk Management program at the PBGC Office of Inspector General. By adopting a portfolio view of risks, ERM will enable the OIG office to:

  • lead by example,
  • provide for more effective risk management and internal control in accordance with OMB Circular A‐123,
  • align management activities with the CIGIE Quality Standards for Federal Offices of Inspector General (also known as the “Silver Book”),
  • concentrate efforts towards key points of failure and reduce or eliminate the potential for disruptive events,
  • allow for risk‐based planning, and
  • protect the PBGC OIG brand (“independent, positive engagement”) and identify opportunities to create value.

The framework for this program is based on (the soon‐to‐be issued) OMB Circular A‐123, The Orange Book, Management of Risk – Principles and Concepts (October 2004, HM Treasury), and the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Enterprise Risk Management Framework. This memorandum describes responsibilities and governance structure, the foundation of this program, the components of this program, the external and internal environment to provide necessary context for assessment of OIG risks, the methodology for developing our risk appetite, and the methodology for developing our risk profile.

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Enterprise Risk Management at PBGC – September 10, 2015

Consistent with the Office of Inspector General’s responsibility to provide leadership to promote efficiency and effectiveness, this white paper is intended to provide the Board of Directors and Pension Benefit Guaranty Corporation senior leadership with insight on Enterprise Risk Management as PBGC moves forward with implementation of its statutory and soon to be Office of Management and Budget mandate regarding ERM
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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….
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