Why Community Based Financial Institutions Should Practice Enterprise Risk Management

Enterprise risk management is an underutilized management practice that allows community-based financial institutions to become more efficient, smarter, and better able to compete in an increasingly complex environment.  

WolfPAC Solutions Group Director Michael Cohn creates a strong case on why community-based financial institutions should implement an enterprise risk management program to reduce costs and successfully achieve business goals in an increasingly competitive and regulated environment.  

The white paper covers important areas such as:

  • Measuring the cost of ERM
  • Overcoming silos and creating a holistic view of ERM
  • Redefining management roles for effective ERM practice
  • The benefits of practicing ERM in a “bottom-up” approach rather than the traditional “top-down” model.

This white paper creates a comprehensive view on practicing ERM in community-based financial institutions.  It was first published by the Financial Managers Society and later in regional banking magazines.