Development of an Enterprise Risk Management Plan

Demonstrate mastery of the development of an ENTERPRISE RISK MANAGEMENT (ERM) PLAN for an organization that you will select. The organization can be an actual organization or one that you design yourself. However, it is important to incorporate all components of the below framework in your paper. Executive summary: A brief overview of your organization, along with a summary of key points in the plan. Introduction: Your introduction to this plan should include background on the company and data to support why you choose the organization you did. Risk Assessment: Risk assessment provides the foundation for informed and decision making about how to identify and address uncertainty in driving and achieving organizational strategies and goals. Develop an outline explaining and ranking the risks/ threats associated with your organization. Risk Culture: Risk management must be integrated into the culture of the organization and this will include mandate, leadership and commitment. Assign risk management responsibilities to the key stakeholders in your organization. These roles should support accountability, performance measurement and promoting operational efficiency at all levels. Risk Strategy: The risk assessment and risk culture helps to inform the development of a risk management policy. Describe the risk appetite of your organization to include internal and external factors, business objectives and controls that should be included in the policy and the resources needed to manage the program. Risk Protocols: This section should include the various controls that would need to be included in your plan to ensure the appropriate compliance and governance is embedded in the process. Examples include (but not limited to) procedures to include risk as part of business decision-making, incident report procedures established, business continuity plans and disaster recovery plans are established and regularly tested. Implementation: Outline the steps that need to happen before an ERM plan can be implemented. Be sure to include the planning & design phase and how we sell the program to leadership; metrics and monitoring for continuous improvement and reporting risk performance. The paper contains min 5 pages (max of 12 pages) with a minimum of two references. You must provide citations where appropriate, and use the APA style, font Arial 12. You should also use Turitin.com to ensure that your work is properly cited.