Structure and Responsibilities
The reporting structure of ERM varies substantially by industry, company size, and business model. Figure 7.1 shows a summary of common practices of a risk committee created in 2017 by the Corporate Executive Board Company (CEB), acquired by Gartner from a survey for “state of the risk function.” This survey connected with 158 companies.
Larger companies will frequently have a separate team that reports directly to the CEO or the Board of Directors and works in parallel with other functions such as internal audit and legal teams. The following survey results indicate that 23 percent of the companies had a board-level committee that focused on the risk management program. While there was no company size ...
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