Emerging risks are uncertain, but often hard-hitting. Executives often conclude that a response must be complex and costly, tempting them to delay action until the threat and need are proven. Getting more precise information about emerging risks to drive action is futile, but there is hope. Panelists will explore how risk leaders can identify emerging risks that require action, plus low-cost, low-regret responses that do not rise to the level of full risk mitigation.

Many organizations, both in the public and private sectors, have set up formal ERM programs with well-defined roles and responsibilities (e.g., establishing the risk framework, defining the risk taxonomy, generating and maintaining the risk register, facilitating risk reporting). However, many ERM programs find it challenging to demonstrate real value to their organizations and perform as an equal partner, both when strategic decisions are made and as they are followed through into implementation. The panelists will share their experiences on how leading institutions have ‘cracked’ the problem and engage the audience to share their perspectives, particularly focusing on what has worked well.

Results of Federal News Network’s ERM Survey

Have you ever wondered why some ERM programs are more successful than others? We believe that being a resilient leader is key to having a successful ERM program. Join us for a discussion on key attributes of a resilient leader and strategies that risk leaders can use to launch and sustain their ERM programs. In addition, we will discuss the current environment we find ourselves in. VUCA is a phrase used in the military, but we believe our current environment can be described as volatility, uncertainty, change, and ambiguity (VUCA). Our risk leaders on the panel will discuss ways in which we can all use ERM to systemically address VUCA.

Three experienced ERM practitioners will share lessons and provide illustrative stories about bringing ERM to federal agencies. The panelists will discuss what they have learned through their many years of experience assisting multiple federal agencies to build ERM into the way they do business.

With the increase in funding resulting from the COVID-19 pandemic as well as increased infrastructure appropriations, federal agencies are presented with more challenges than ever before to manage their increased grants portfolios while meeting their obligations under A-123. This interactive session will present participants with information designed to address risks presented by increases in funding by using data to develop risk-based monitoring plans, and how this fits into the ERM Framework.

This session discusses strategies for recruiting and developing new risk managers in an everchanging federal landscape. The Office of Housing-Federal Housing Administration’s (Housing-FHA) Office of Risk Management and Regulatory Affairs (ORMRA) hosted an impactful four-month professional development rotation for a cohort of Office of Housing employees. The Compliance and Risk Officer from the Administrative Office of the US Courts will discuss some of the unique challenges in the Judiciary and how they are managed.

The pandemic and the associated risks experienced by Federal agencies exposed vulnerabilities for future major global events to influence the future risk landscape.  Emerging risks could have a significant impact on an agency’s ability to effectively and efficiently meet their mission.  This session discusses how agencies have built sustainable risk analysis using different types of technology and tools to support the ongoing identification and analysis of emerging risks that could have a significant impact on an agency’s mission delivery.

Discussion about how GAO’s High Risk List relates to ERM programs, using ERM and performance governance structures to address issues on the List, and working across agencies on multiagency risks.