Risk management is the practice of identifying and analyzing loss exposures and taking steps to...
enterprise risk management (ERM)
Enterprise risk management (ERM) is a holistic approach to identifying, defining, quantifying, and treating all of the risks facing an organization, whether insurable or not.
Additional Information
Unlike traditional risk management, ERM deals with all types of risk, such as hazard or event risk, operational risk, credit risk, and financial risk.
Synonyms
Holistic Risk Management
Related Terms
Event risk is the possibility of loss associated with fortuitous occurrences such as fires,...
Interest rate risk is the risk associated with any contractual agreement or financial transaction...
Operational risk is the risk of human, process, system, or technological failure as well as risks...
The risk management process is the process of making and implementing decisions that will minimize...
Tradable risk is the wide array of risks that share one fundamental characteristic—transparency.
