Aligning Strategy and Security
If you’re working to build a more resilient organization, understanding Enterprise Risk Management (ERM) is essential. Whether you’re new to the concept or looking to strengthen an existing framework, ERM is more than just a safeguard—it’s a strategic approach to navigating risk while unlocking opportunity.
What is Enterprise Risk Management?
Enterprise Risk Management (ERM) is a comprehensive, organization-wide process for identifying, assessing, and managing risks that could impact your ability to achieve business objectives. Unlike traditional risk management, often isolated within departments, ERM brings a unified approach that aligns risk oversight with the overall strategy.
ERM frameworks, such as the Committee of Sponsoring Organizations (COSO) model, guide organizations in defining governance structures, establishing a clear risk appetite, aligning risk with strategy, monitoring performance, and continuously refining their approach. Done right, ERM becomes part of your organizational DNA, helping leaders make informed decisions, enhance performance, and create long-term value.
But implementation isn’t without its challenges. Common pitfalls like inconsistent execution, resistance to change, and poor integration can weaken even the best-laid plans. That’s why it’s essential to embed ERM into company culture, set measurable goals, and ensure regular updates.
Make ERM work for you
At Barnes Dennig, we believe ERM isn’t just about managing threats; it’s about positioning your organization to thrive. We help you tailor a right-sized ERM framework that fits your goals, industry, and risk landscape. From financial and operational risks to legal, reputational, and strategic concerns, our team is here to help you stay ahead of what is next.
And when it comes to third-party oversight, a SOC 1 report can be a powerful tool. It evaluates the internal controls of service providers that impact your financial reporting, giving you and your stakeholders confidence in your risk management efforts.
When you get a SOC report, you demonstrate the strength of your organization’s internal controls and your commitment to effective risk oversight. It brings peace of mind to stakeholders and leadership, reinforcing that your ERM framework supports sound decision-making and long-term resilience. Explore our SOC FAQ for more insight into SOC reporting and how it supports enterprise risk goals.
To ensure your leadership team is ready for the process, we offer a SOC Readiness Assessment, a collaborative, open-book approach that helps identify gaps, clarify responsibilities, and prepare your organization for a successful SOC audit. We work on your timeline to develop the right policies and procedures to meet your compliance and risk management objectives.
Whether you’re preparing for your first SOC report or want guidance on aligning your current controls with your ERM strategy, contact us today for a free consultation. We’re here to help you protect what matters and build lasting value through smarter risk management.
