BUSI 6257

Enterprise Risk Management (ERM) is a rapidly developing field that recognizes that organizations need a holistic strategy for managing uncertainty. Going well beyond the traditional financial risk management, ERM is a recognition that organizations (both for-profit, as well as not-for-profit) need a systematic and efficient way of managing volatility, uncertainty, complexity and ambiguity (VUCA). This recognition has led to the rise in prominence of the Chief Risk Officer, which is now a key role in a wide range of organizations, and not just financial institutions. Additionally, every major Board now has a dedicated risk committee.