Choosing the Right Risk Management Framework for Your Financial Institution

PostedTuesday, June 4, 2024 at 11:10 AM

Updated6/4/2024 11:10:45 AM

What’s the difference between Enterprise Risk Management (ERM), Integrated Risk Management (IRM), and Governance, Risk, and Compliance (GRC)? Does it really matter if financial institutions use one of these risk management frameworks? As it turns out, it does. Selecting the right risk management framework empowers financial institutions to meet their strategic goals and achieve better business outcomes. This article will guide you through which risk management framework is the best fit for your institution

What’s the difference between Enterprise Risk Management (ERM), Integrated Risk Management (IRM), and Governance, Risk, and Compliance (GRC)? Does it really matter if financial institutions use one of these risk management frameworks? As it turns out, it does. Selecting the right risk management framework empowers financial institutions to meet their strategic goals and achieve better business outcomes. This article will guide you through which risk management framework is the best fit for your institution

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