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Enterprise Risk Management

Enterprise risk management proposals offer clients strategies and opportunities to minimize risk threats to their business as well as response plans. While the focus will be organization-wide assessments, fine-tuning on challenging operations may be included.

Types Of Enterprise Risk Assessment Proposals (10)

  1. Sector-Specific ERM – A risk management professional’s proposal to elevate a client’s risk policies but explicitly geared to one industry’s landscape.
  2. Technology Risk Management – This proposal is developed to evaluate and enhance a client’s risk management of their digital and technological equipment infrastructure (i.e., data privacy)
  3. Strategic Risk Management – A proposal to assess how risks affect a client’s overall policies and then elevate their risk management strategies (i.e., contingency plans).
  4. Operational Risk Management Proposal – This document is developed to obtain contracts in evaluating daily client operations risks and adjust accordingly.
  5. Financial Risk Management – A proposal to examine and enhance management and control of financial risks to the client’s organization.
  6. Compliance and Regulatory – Proposals sent to clients requiring aid in making sure their organization can withstand, as well as control, risk factors to their industry compliance status.
  7. Crisis Management and Business Continuity – This document proposes a risk management professional’s plan to elevate client crisis response strategy while bolstering recovery measures.
  8. Supply Chain Risk Management – A proposal to examine the risks to a client’s resources (i.e. vendors, wholesalers) while offering overall risk policy enhancements.
  9. Environmental, Social, and Governance (ESG) – This document seeks clients requiring risk management professionals to enhance their risk policies regarding their environmental, social, and general compliance.
  10. Third-Party Risk Management Proposal – Proposals used by professionals (i.e., consultants) seeking to win a contract to evaluate a company’s risks with third-party dependencies and improve their policies.

What Should Be Included (16 Items)

  1. Proposal Cover Page
  2. Executive Summary
  3. Introduction
  4. Scope Of Enterprise Risk Management Proposal
  5. Risk Governance
  6. Risk Identification
  7. Risk Assessment
  8. Risk Mitigation Strategy(ies)
  9. Monitoring And Reporting
  10. Business Process Integration
  11. Communication And Training
  12. Documentation And Recordkeeping
  13. Testing And Simulation
  14. Continuous Improvement
  15. Conclusion
  16. Appendices


1. Proposal Cover Page

Design a cover page that shows the proposal’s topic and content while remaining sleek and easy to read. Remember this will be the document’s first impression; thus, design it accordingly.

  • Promotional Image, Supporting Graphics
  • Proposal Title, Submission Date
  • Sender Name, Sender Contact Information
  • Client Name, Table Of Content (Optional)
  • Executive Summary, Helpful Links (Portfolio, Social Media)

2. Executive Summary

Display a compelling summary of this document’s content that is to the point and brief. Highlight its most intriguing topics and recommendations for the purpose of incentivizing the ERM client.

  • Mitigation Strategies, Enterprise Risk Management
  • Governance Framework, Strategic Risk Planning
  • Business Continuity, Operational Resilience, Risk Culture
  • Internal Controls, Stakeholder Engagement
  • Supply Chain Resilience, Compliance Framework

3. Introduction

Present the ERM risk management professional or firm significantly, mentioning their background and overall mission. Align the goals of this document with those of the ERM professional as well as those of the client.

  • Risk Landscape Overview, Risk Identification
  • Financial Risk Overview, Operational Resilience
  • Internal Controls Introduction
  • Compliance, Business Continuity Strategy
  • Supply Chain Resilienc, Compliance Framework Overview

4. Scope Of Enterprise Risk Management Proposal

List the risk management objectives, deliverables, and, especially, the task lists required to be proposed by the ERM risk management professional. Include a discussion describing the stakeholders as well as the scheduled risk management policy implementations.

  • Compliance Coverage, Stakeholder Engagement Areas
  • Risk Monitoring Scope, Strategic Focus, Internal Controls
  • Operational Resilience Limits, Risk Culture Components
  • Crisis Management Components, Compliance Standards
  • Risk Boundaries, Enterprise-wide Risk Management

5. Risk Governance

Formally establish the ERM governance structures, significantly detailing stakeholder responsibilities. Explicitly lay out the involvement and oversight of the relevant governing board.

  • Board Risk Committee, Board Risk Management
  • Risk Appetite Definition, Executive Risk Oversight
  • Decision-making Framework, Risk Governance Guidelines
  • Risk Culture Governance, Enterprise-Wide Risk Oversight
  • Corporate Governance, Governance Accountability

6. Risk Identification

Categorize the potential risks the client faces as well as define the tolerance level of each. Also, limit the metrics that will be used to evaluate the effectiveness of this process.

  • Enterprise Risk Identification, Identification Framework
  • Risk Identification Techniques, Risk Assessment Process
  • Risk Identification Methods, Operational Risk Identification
  • Risk Identification Tools, Proactive Risk Identification
  • Emerging Risk Identification, Risk Register Development

7. Risk Assessment

Inform the ERM client on how likely each risk will materialize accordingly, together with the impacts. Furthermore, spell out the quantitative and qualitative risk assessment tools at the disposal of the ERM professional.

  • Quantitative Risk Assessment, Risk Scoring Techniques
  • Risk Evaluation Methods, Enterprise Risk Assessment
  • Risk Heat Maps, Scenario Analysis, Risk Sensitivity Analysis
  • Qualitative Risk Assessment, Key Risk Indicators (KRIs)
  • Risk Evaluation Criteria, Tolerance Levels, Holistic Analysis

8. Risk Mitigation Strategy(ies)

Explain the ERM strategies being proposed in detail. Define the resources available as well as the risk reduction plans.

  • Risk Response Plans, Adaptive Risk Strategies
  • Risk Avoidance Tactics, Resilience Building Measures
  • Risk Transfer Solutions. Risk Reduction
  • Cybersecurity Risk Management, Third-Party Mitigation
  • Financial Risk Mitigation, Supply Chain Risk Management

9. Monitoring And Reporting

Provide a detailed description of the ERM monitoring mechanisms as well as those for reporting. For example, define the framework and risk management KPIs that best suit the client’s requirements.

  • Compliance Monitoring, Key Risk Indicators (KRIs)
  • Stakeholder Reporting, Data-driven Risk Reporting
  • Dynamic Risk Analysis, Periodic Risk Reviews
  • Predictive Risk Reporting, Risk Dashboard Reporting
  • Automated Risk Reporting, Regular Risk Audits

10. Business Process Integration

Provide the alignments for the proposed ERM strategies with the client’s objectives while discussing the integration plan. For example, deliver when and how these strategies will be applied to the client’s day-to-day operations.

  • Business Process Integration, Risk-Aware Processes
  • Integrated Risk Management, Holistic Business Risk
  • Strategic Integration, Risk-Integrated Decision Making
  • Operational Risk Alignment, Adaptive Business Processes
  • Cross-functional Risk Integration, Risk-Responsiveness

11. Communication And Training

Show the communication strategies for risk monitoring, reporting, and stakeholder engagement to promote awareness significantly. Also, present any training or education programs the ERM professional provides during and after the initiative.

  • Communication Platforms, Internal Communication
  • Risk Awareness Programs, Stakeholder Engagement
  • Risk Education, Risk Training Workshops, Training Modules
  • Employee Training, Literacy Programs, Interactive Training
  • Awareness Campaigns, Stakeholder Participation

12. Documentation And Recordkeeping

Describe the ERM professional’s proposed procedures and policies for documenting risk assessments as well as all other recordkeeping functions. Furthermore, promote the importance of adequately documenting evaluations and mitigation strategies.

  • Recordkeeping, Compliance Documentation
  • Audit Trail, Document Control, Risk Management Records
  • Documented Risk Procedures, Transparent Recordkeeping
  • Regulatory Compliance Documentation, Governance
  • Archiving Risk Documents, Electronic Recordkeeping

13. Testing And Simulation

Define how the ERM framework benefits from simulations and other testing methods to gauge its effectiveness as well as its operation. For example, show scenario analysis examples with the lessons they can teach.

  • Model Simulation, Risk Management Simulations
  • Testing Resilience, Scenario-based Risk Analysis
  • Simulated Risk Events, Realistic Risk Simulations
  • Risk Modeling, Business Continuity Stress Testing
  • Simulation Exercises, Response Testing, Impact Simulation

14. Continuous Improvement

Present the improved ongoing monitoring and review strategy explicitly developed for the client’s ERM framework. For example, spell out every step of the feedback mechanisms in place.

  • Ongoing Risk Enhancement, Iterative Risk Management
  • Proactive Risk Improvement, Evolving Risk Management
  • Iterative Risk Assessment, Dynamic Risk Mitigation
  • Risk Optimization Strategies, Adaptive Risk Response
  • Real-time Risk Adjustment, Iterative Risk Planning

15. Conclusion

Recommend the next steps the client should take to pursue this proposal, such as an inquiry or live discussion. Whenever possible, encourage the next steps leading directly to a contract.

  • ERM Summary, Key Takeaways, Contact Prompt
  • Final Thoughts, Risk Strategy, ERM Proposal Recap
  • Strategic Risk Overview, Successful Risk Management
  • Achievements, Future Directions, Effective Risk Strategies
  • ERM Implementation Summary, Risk Recommendations

16. Appendices

Consolidate the references cited in the above proposal, together with its supporting paperwork, into the last section. Also, include everything needed for the reader to continue, such as the risk management team’s contact list and a formal contract.

  • Agreements, Contracts, Legal Terms, Disclosures
  • Budget Sheets, Risk Forcasts, SWOT Analysis
  • Regulations, Legal Documents, Legal Statutes
  • Organizational Structure, Contact Information
  • Risk Assessment Reports, Market Projections