Improving the Value of Enterprise Risk Management to Help Manage Corporate Reputation

Enterprise risk management valuation is becoming more critical to organizations. In the fall of 2009, The Conference Board of Canada conducted a multi-industry ERM online survey on various aspects of ERM. The purpose of the survey was to determine whether organizations have made significant progress in demonstrating the value of ERM in three crucial areas: the tangible benefits, the effectiveness on corporate performance, and the management of corporate reputation. This report examines the results of the survey and finds that while organizations are showing more interest in developing an enterprise-wide approach to managing risk, demonstrating the value and improving ERM is still a struggle. The report also proposes a selection of practices, tools, and concepts that could be adopted by organizations to improve the value of their ERM process and to help manage and monitor corporate reputation.