Integrated Risk Assurance – May 2018

“An efficient framework for seeing the whole risk picture Over the past decade, as financial, operational, strategic, cyber, reputational, and other risks have proliferated, organizations have been working on effective responses. Boards have placed risk oversight at the top of their agendas. Senior executives have upgraded the risk management infrastructure. Businesses and IT functions have adopted tools and solutions. Compliance, risk management, and chief audit executives have enhanced their functions’ capabilities.

Yet many management teams, audit committees, and boards still lack a clear, accurate, and comprehensive picture of the truly greatest risks to their organization and of the risk management programs that protect the organization. Ultimately, the purpose of risk frameworks and assurance activities is to strengthen an organization’s controls to preserve shareholder value. From board directors to line managers, everyone occasionally loses sight of why these valuable governance mechanisms exist, relegating them to bureaucratic check-the-box exercises.

The main barriers to creating a comprehensive risk picture are neither technological nor financial but rather organizational, particularly when it comes to risk assurance. The traditional ways in which assurance activities and reporting are organized limit an organization’s visibility into risks and into the effectiveness of its risk management, while creating unnecessary costs and exposures.

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American Society of Healthcare Risk Management – White Paper 2014

Abstract: Healthcare organizations have made significant strides in developing Enterprise Risk Management (ERM) programs, but there is still much work to be done. To facilitate this process, ASHRM has defined ERM and created an ERM Framework for use in healthcare around which an ERM Program can be formed. This white paper will graphically display the Framework and describe key structural components necessary in any healthcare setting. Use this Framework to help build consistency in your efforts to move ERM forward.

Audience: Novice, intermediate risk professional, or anyone desiring more information on ERM

Keywords: Enterprise Risk Management, ERM, Framework, Guiding Principles, Governance, Risk & Opportunity Identification, Assessment, Risk Response, Risk Evaluation

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Integrated Risk Management for Healthcare Organizations – Risk Resource Guide – October 2014

HIROC (Healthcare Insurance Reciprocal of Canada) is Canada’s leading provider of healthcare liability insurance. We provide a full range of insurance coverages, healthcare risk management consultation and expert claims management services.

Together with a national steering committee of risk managers from leading healthcare organizations, HIROC created a standardized, evidence-based, effective and efficient approach to Integrated Risk Management (IRM): HIROC’s IRM Guide.

The guide includes information on:

  • IRM Drivers and Benefits
  • IRM Challenges
  • IRM Models
  • IRM Learning and Advice