The ERM Process

Sort elements

• A complete description of the risk exposures of an organisation, including risks that might emerge in the future and that will affect the current business of the organisation
• The targets and limits across the organisation as a whole, plus the breakdown of these high level statements into more detailed risk tolerances
• A detailed set of statements, many being quantitative or statistical in nature, which may apply to specific categories of risk and/or units of business
• A group of guidelines that set limits on acceptable actions that might be taken
• The volume of risk that an organisation can take as measured by some consistent measure, such as economic capital