Process, management, and resources are the necessary tools for ERM to operate. But culture is what makes the operations a success. Without culture, ERM will simply become an inefficient task to be performed periodically and with little confidence in its accuracy and ultimate value-added to stakeholders. In this session we will focus on developing a holistic approach to ERM within government and how to build a risk management culture within the enterprise/organization that can lead to increased efficiency and productivity while simultaneously engaging stakeholders by building an appreciation for the process of ERM.

The challenge that most organizations face, especially in Government, is implementing what is on paper and making it a reality. This session will focus on sharing real life experience as the Head of Risk at Kenya Power ( a public power utility company in Kenya), and the tremendous challenges Dr. Chache has personally faced in selling the risk management agenda to a highly technical and politicized organization that has been in existence for the past 100 years and with a workforce of 10,000+ employees. The session will further focus on the success story despite the challenges, and the tremendous improvements in developing and implementing the Enterprise Risk Management framework.

Take a deep dive into one of the most marginalized principles of ISO31000 and when used to its fullest potential, it can provide a demand for ERM that draws and captivates your organization. ERM practitioners will learn how to reach beyond ERM to meet ISO31000 compliancy while leveraging science to create energy and momentum for ERM. Attendees will gain a better understanding of Human and Cultural Factors to increase ERM demand.

Risk management, to be effective and have optimum impact, must contribute directly to building agency stakeholder value. Integrating risk management with cost and performance management is critical. ERM then becomes a key element of building agency strategic value for all stakeholders, rather than a topic of interest only to risk professionals. Session presenters will include Dr. Doug Webster, co-author of Value-Based Management in Government (Wiley, 2020), Deb Del Mar, co-author of the DoD Financial Management Strategy FY22-26, and Asif Khan, Director, GAO.

This session will cover how the Veterans Health Administration took an in-depth, integrated approach to providing risk management education. Risk University goes beyond “how-to” and emphasizes the “why” of effective risk management. VHA risk professionals will discuss how the course was developed, the unique cohort approach to the course and the heavy emphasis on culture change. A key feature of Risk University is that each cohort consists of two tracks: extensive education in risk fundamentals for risk professionals and risk owners, and a management track offering high-level risk management education focusing on governance and oversight. The panelists will share how Risk University supports VHA efforts at implementing Integrated Risk Management and how it supports VHA’s response to the Government Accountability Office’s findings on the need for greater accountability and oversight. Panelists will also discuss how Risk University supports VHA’s High Reliability Organization objectives.

Risk appetite is arguably one of the most powerful tools in the ERM toolbox…and also one of the most difficult to develop and implement. Organizations often do not take enough risk in pursuit of their strategic objectives, ultimately creating an over-controlled environment and inefficient use of resources. Risk appetite empowers organizations and individuals to make decisions in alignment with the amount of risk taking an organization is willing to take in pursuit of its strategic objectives, and helps ensure that enough risk is taken. During this session we will explore how both public and private sector organizations have developed and implemented risk appetite, including approaches used, benefits to those approaches, and what’s next on the horizon.

Data analysis and supporting technology solutions have significant capabilities to assist with the maturity of an organization’s Enterprise Risk Management (ERM) Program, as well as support agency decision-making. Many agencies have leveraged the capabilities of technology and other data analysis tools to build robust risk monitoring and management processes in particular domains such as pandemic relief response, information technology and cybersecurity, and management of third-party service providers. This session discusses how agencies approached and implemented robust risk monitoring and management processes in support of the broader ERM agenda.