ERM Systems
Manage enterprise risk activities through a structured ERM system designed to organize risk identification, assessments, ownership, treatment plans, monitoring, and reporting. LaserGRC helps organizations establish consistent risk processes while connecting risk information across departments, business objectives, and ongoing management activities.
What this solves for enterprise risk management teams
Risk Data Spread Across Multiple Sources
Bring risk registers, assessments, ownership information, treatment activities, and review records into a more organized system for enterprise risk management.
Different Risk Processes Across Departments
Support a common ERM structure while allowing individual business functions to document and manage risks according to their relevant responsibilities.
Risk Actions Without Central Oversight
Track mitigation activities, assigned responsibilities, target dates, and follow-up information so risk responses remain connected to the exposures they address.
Difficulty Maintaining an Updated Risk Picture
Create structured processes for reviewing risk status, reassessing exposures, updating ownership, and maintaining current enterprise risk information.
Enterprise Risk Registers
Record organizational risks with relevant descriptions, categories, owners, ratings, and supporting information.
Risk Assessment Frameworks
Apply defined assessment factors and evaluation criteria to support consistent analysis of identified risks.
Risk Ownership Management
Document responsibility for individual risks and establish accountability for related review and response activities.
Risk Treatment Programs
Manage mitigation plans, response activities, assigned tasks, and other measures associated with identified exposures.
Risk Review Cycles
Support scheduled reassessments and ongoing reviews to keep risk records aligned with changing business conditions.
ERM Reporting
Compile relevant risk information, assessment results, response status, and management activity for enterprise-level reporting and oversight.
How an ERM system supports the enterprise risk lifecycle
Assess Existing ERM Practices
Review current risk processes, registers, methodologies, stakeholders, reporting requirements, and areas where the organization needs greater structure.
Establish the ERM Model
Define risk categories, assessment rules, ownership structures, response types, review schedules, and other foundational requirements.
Prepare Risk Records
Organize existing risk information and determine how historical assessments, owners, treatments, and supporting records should be represented.
Configure ERM Workflows
Set up risk registration, assessment, assignment, treatment, review, and reporting processes around the organization's operating model.
Test Core Risk Scenarios
Validate representative workflows using sample or existing risks to confirm that assessments, actions, ownership, and reporting behave as expected.
Optimize ERM Operations
Refine the configured system based on user feedback, recurring reviews, reporting needs, and evolving enterprise risk management practices.
FAQs
(Frequently Asked Questions)
What are ERM systems?
ERM systems are software platforms used to organize enterprise risk management activities such as risk identification, assessment, ownership, treatment, monitoring, review, and reporting.
What should an ERM system help organizations manage?
An ERM system can support risk registers, assessment methodologies, risk ownership, mitigation activities, review cycles, supporting information, and management reporting.
How does an ERM system differ from a basic risk register?
A basic risk register primarily records identified risks, while an ERM system can provide broader workflows for assessing risks, assigning accountability, managing responses, conducting reviews, and reporting risk information.
Can LaserGRC support risk management across multiple departments?
LaserGRC helps organizations structure risk information and management processes across different business functions while maintaining a consistent enterprise risk management framework.
Can ERM systems support ongoing risk monitoring?
Yes. An ERM system can support recurring reviews by maintaining risk status, assessments, ownership, response activities, and other information that needs to be revisited as business conditions change.
Create a more organized approach to risk registration, assessment, ownership, treatment, monitoring, and reporting. LaserGRC helps teams maintain connected ERM information while supporting consistent risk management processes across the organization.
