ERM Questions for your own quick assessment

 

Copyright ©APC & OneNet 2021, You are free to use here for this purpose only. These questions are used by APC The Best ERM Award 2015, 2018.

 

If you could answer 50% questions, please write to us for a First Level ISO Certificate of ISO 31000. After completing our on-site audit, we would issue your company an ISO 31000 Best Enterprise Risk Management (ERM) Certificate for validating 80% of providing answers to these questions. 

 

Leadership

1. What is the organization's current risk management culture?

2. Has the CEO issued a formal risk management policy mandate?

3. Have the organization's risk assessments been updated within the last 6 months?

4. Does the organization provide risk management training tailored to business needs and drivers?

5. Does the organization have a well-defined approach to managing risks and crises?

 

Business Operations and Management Analysis

6. How does the organization manage risks across its entire supply chain, including supplier management?

7. Does the organization conduct customer feedback surveys, marketing progress meetings, and other activities to

    identify risks and opportunities?

8. Has the organization defined and documented its key business processes and sub-process architecture?

9. To what extent does the organization use benchmark data to compare its risk management practices?

10. Has the organization tested its business contingency and continuity plans within the last 6 months?

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Business Planning

11. How well aligned are the organization's annual objectives with its risk appetite, crisis management strategy, and

      overall business strategy?

12. Does the organization use consistent processes to project business performance under different risk scenarios?

13. What key risk and performance indicators has the organization developed to monitor the business?

14. Are risk and crisis control responsibilities and ERM objectives clearly defined for all relevant employees?

15. Does the organization have an effective communication system to share risk information?

 

Human Resources Development and Enterprise Risk Management

16. Does the organization utilize care and recognition programs as incentives for desired risk management behaviors?

17. To what extent does the organization consider risk management competency in its succession planning?

18. How effective is the organization's manager training in developing risk management skills?

19. Are risk management responsibilities and competencies integrated into job descriptions, performance reviews, and

      career development plans?

20. Has the organization appointed risk champions to promote risk culture across the organization?

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Enterprise Risk Process Management

21. Has the organization adopted the principles of enterprise risk process management?

22. Does the organization comply with relevant ISO standards, such as ISO 31000 and ISO 27001, for risk and information security management?

23. Has the organization maintained and updated its risk register and compliance reports within the last 6 months?

24. How effectively does the organization implement risk improvement processes and document risk controls and processes?

25. Are there effective escalation channels for risk issues from across the business to risk control and continuity management?

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Customer and Market Focus

26. Has the organization developed formal relationships with key customers, suppliers, partners, and stakeholders to understand their risk concerns?

27. Are service level agreements reviewed in conjunction with customer needs and risk priorities?

28. Does the organization focus on proactive customer relationship management to identify and mitigate risks?

29. Has the organization formalized the process for resolving customer issues and problems?

30. Does the organization monitor changes in markets, competitors, and customer needs that could impact risk exposure?

 

Business Results

31. Has the organization agreed on key risk and performance metrics to track business results?

32. Does the organization regularly monitor business trends, targets, and benchmarks to identify emerging risks?

33. To what extent does the organization use risk identification tools and root cause analysis to understand issues?

34. Has the organization developed dashboards and reports to visualize risk trends and changes over time?

35. How effectively does the organization measure the impact of risk management on business and financial performance?

 

Financial Management

36. Does the organization employ financial risk management tools to inform decision making?

37. How effectively does the organization use financial ratios to assess risk exposure and performance?

38. Does the organization align financial planning and budgeting with changing operational needs and risk priorities?

39. Has the organization reviewed its financial plans and budgets within the last 6 months to stay current?

40. Has the organization integrated financial and operational risk management into a comprehensive model?

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