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ERM Framework

Analyzing an ERM Framework

Designing and implementing a risk-management framework helps support risk-management efforts throughout an organization.

(1) Describe a risk-management framework, its purpose and objective, and how it supports risk management efforts throughout an organization.

(2) Analyze the components of an ERM framework and explain how each component contributes to the risk-management process.

(3) Describe how the ERM framework contributes to the organization's overall decision-making process.

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Designing and implementing a risk-management framework helps support risk-management efforts throughout an organization.

(1) Describe a risk-management framework, its purpose and objective, and how it supports risk management efforts throughout an organization.
A risk management framework is the COSCO (Committee of Sponsoring Organizations of the Treadway Commission) framework. The COSCO framework has the objectives of aligning risk appetite and strategy, enhancing risk response decisions, identifying and managing multiple and cross-enterprise risk, seizing opportunities, and improving the deployment of capital.
This framework supports risk management efforts throughout the organization by aligning high level goals and supporting the organizational mission. It also encourages the effective and efficient use of ...

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This explanation provides you a comprehensive argument relating to ERM Framework

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