Implementing ERM requires focus on the risk management process including the identification, prioritization, and mitigation of organizational risks. Those are important aspects of successful ERM, but typically not appropriate for Board-level engagement. The pool Board of Directors should be active and involved identifying risks to the organization’s mission and strategy, looking for ways to align ERM efforts with long-term organizational initiatives. This session will illustrate how ERM can strengthen a pool’s strategic planning process, adding structure and rigor to evaluating risks and opportunities for organizational initiatives, and enhancing an pool’s ability to allocate its resources (financial, human, or otherwise) to areas of most need or biggest potential for enhanced value. Whether or not your pool has embraced ERM, this session will help you identify key elements to engage in your strategic planning process to improve it, overall.
