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.

Hear how MARS has used ERM capabilities to enhance information used in decision-making. Chris will talk about challenges and opportunities to use ERM to facilitate conversations and provide information for decision-making.

A discussion with Judy Smith, the inspiration behind ‘Scandal,’ to talk about crisis management and considerations for when a risk transforms into a crisis.

In an ever-changing world, the commitment to periodically reviewing and updating a Risk Appetite Statement is critical for maintaining its relevancy and alignment with organizational priorities. Having an up-to-date Risk Appetite Statement also ensures that an organization or agency’s ERM program is consistent with the current risk posture. This session will share firsthand insights from USAID’s recent experience updating its Risk Appetite Statement, strengthening the previous version by expanding upon key Agency priorities and incorporating new and emerging risks.

Tracy Davis Bradley, VHA
Charles Tapp, VBA
Dr. Justin Abold-Lebreche, VA