Enterprise Risk Management (ERM) provides a framework to understand and respond to business uncertainties and opportunities with relevant risk insight delivered through common, integrated risk identification, analysis and management disciplines. ERM enhances organizational resiliency by improving decision making, strengthening governance and supporting a risk intelligent culture.
Aon believes in a phased and structured approach to implementing ERM so that organizations can develop baseline frameworks than can be expanded and enhanced over time.
Aon’s ERM practice advises major organizations around the world and leverages Aon’s global capabilities and industry expertise to deliver integrated and sustainable enterprise risk management solutions. Practice members have extensive experience with enterprise risk assessment, implementation and leadership in a corporate environment and have worked in a variety of industries and sectors, both public and private.
There is no one-size-fits-all approach to ERM; the design of an ERM program and its implementation strategy must complement the organization’s culture and support its ERM goals. Aon’s project teams develop tailored ERM strategies to avoid the perception of ERM as a bolt-on, bureaucratic process. Aon delivers an ERM framework that leverages existing organizational structures and processes and incorporate external best practices. Aon utilizes a collaborative, peer-based style; ensuring transfer of ERM knowledge and tools and delivery frameworks that leverage existing organizational structures, processes and best practices.
ERM helps an organization evolve from a siloed risk approach to a broader view of understanding of risk-reward trade-offs. Aon’s approach aligns ERM with existing governance structures and management processes thereby improving communication and supporting risk-adjusted decision making.
Conducted during the third quarter of 2009 as a follow up to the inaugural 2007 Global Enterprise Risk Management Survey, Aon's 2010 Global ERM Survey found a trend of increasing ERM maturity globally and across sectors. Risk management professionals from leading organizations provided feedback and insight on their risk management choices, interests and concerns, and the resulting data uncovered nine key hallmarks of top-performing ERM programs.