About ERM
Enterprise risk management is clearly distinguished from risk management and financial risk management in the RIMS executive report, 2009. While risk management is described as a board term for the business discipline that is concerned with the protection of the assets and profits of an organosation by either reducing the potential before it occurs, mitigating the impact of a loss if it occurs, and the execution of a swift recovery after a loss occurs; financial risk management is the term often used by non-financial institution to describe the mitigation process for their financial exposure; erm on the other hand, is said to represent a revolutionary change in the risk management discipline that broadens the scope of risk management behaviors.