ITS 835 ENTERPRISE RISK MANAGEMENT CHAPTER 12 MEASURING PERFORMANCE AT INTUIT UNIVERSITY OF CUMBERLANDS 1 INTRODUCTION  Intuit’s ERM Journey  ERM Maturity Model  Benefits of Measuring Performance in ERM Models  ERM Performance Measurement and Reporting  Conclusion UNIVERSITY OF CUMBERLANDS 2 INTUIT ERM JOURNEY  Began with ad hoc risk management  Very common entry point  Escalated to ERM when seminal event occurred  Desire was to stop firefighting and start prevention  Intuit ERM Core Principles  Enterprise-wide risk framework  Risk assessment is ongoing  Focus on most significant risks  Ownership and accountability  Measure and monitor performance UNIVERSITY OF CUMBERLANDS 3 ERM MATURITY MODEL UNIVERSITY OF CUMBERLANDS 4 BENEFITS OF MEASURING PERFORMANCE IN ERM MODELS  Key Performance Indicators (KPI)  Based on business objectives  Quantitative and qualitative KPI  Leading and lagging indicators  Input, process, and output indicators  KPIs must be  Tangible  Flexible  Standardized  Outcome or objective focused UNIVERSITY OF CUMBERLANDS 5 ERM PERFORMANCE MEASUREMENT AND REPORTING  First evolution -ERM process adoption  Second evolution –Risk Mitigation Process Management  Third Evolution – Multidimensional Risk Management Performance Measurement UNIVERSITY OF CUMBERLANDS 6 ERM PROCESS ADOPTION UNIVERSITY OF CUMBERLANDS 7 RISK MITIGATION PROCESS MANAGEMENT UNIVERSITY OF CUMBERLANDS 8 MULTIDIMENSIONAL RISK MANAGEMENT PERFORMANCE MEASUREMENT UNIVERSITY OF CUMBERLANDS 9 CONCLUSION At Intuit, risk management is everyone’s responsibility ERM must be a core business competency Coordination is a key to success Recognizes ERM process is regularly audited ERM is an integral part of Intuit’s operating mode Upside opportunity Downside risk UNIVERSITY OF CUMBERLANDS 10 ITS 835 ENTERPRISE RISK MANAGEMENT CHAPTER 15 EMBEDDING ERM INTO STRATEGIC PLANNING AT THE CITY OF EDMONTON UNIVERSITY OF CUMBERLANDS 1 INTRODUCTION  Edmonton –Past and present ERM  Links to strategic plan and to other strategic tools  Selecting and testing tools and framework  Recommended strategic ERM approach  Lessons learned UNIVERSITY OF CUMBERLANDS 2 EDMONTON PAST AND PRESENT ERM  Edmonton –Capital of Alberta, Canada  Over 800,00 population  ERM piloted in 2005  CORPORATE Business Risk Planning (CBRP) model  Not fully implemented  Based on COSO  Adopted strategic plan  The Way Ahead  Strategic ERM UNIVERSITY OF CUMBERLANDS 3 LINKS TO STRATEGIC PLAN UNIVERSITY OF CUMBERLANDS 4 SELECTING AND TESTING TOOLS AND FRAMEWORK UNIVERSITY OF CUMBERLANDS 5 SELECTING AND TESTING TOOLS AND FRAMEWORKS UNIVERSITY OF CUMBERLANDS 6 STRATEGIC GOALS AND OBJECTIVES UNIVERSITY OF CUMBERLANDS 7 RISK MITIGATION PROCESS MANAGEMENT UNIVERSITY OF CUMBERLANDS 8 RISKS AND STRATEGIC OBJECTIVES UNIVERSITY OF CUMBERLANDS 9 ISO 31000 RISK MANAGEMENT UNIVERSITY OF CUMBERLANDS 10 PM2 VERSUS ISO 31000 UNIVERSITY OF CUMBERLANDS 11 PROPOSED ERM FRAMEWORK UNIVERSITY OF CUMBERLANDS 12 LESSONS LEARNED  Key success factors  Senior management buy-in  Culture of innovation  Consistency of model across goals  Resource requirements for department SMEs  Department accountability for key risks  Process of selecting and implementing framework  Takes linger than expected  No system is perfect  Do not roll out all at once  Clearly define all milestones and deliverables UNIVERSITY OF CUMBERLANDS 13
Purchase answer to see full attachment