Beyond ERM: Transforming Risk Management from Cost Center to Profit Engine

This article challenges traditional Enterprise Risk Management (ERM) approaches, arguing they often fail to deliver tangible value. It proposes a shift towards a decision-centric, quantitative risk management framework that can significantly reduce costs, optimize insurance, and drive cash flow growth, urging internal audit and assurance professionals to consider how their organizations can move beyond compliance-driven ERM to a more strategic, value-generating model.