Enterprise Risk Budgeting - Bringing Financial Management into the Financial Planning Process
Enterprise Risk Management (ERM) is a holistic, integrated approach to managing a company’s risks, in contrast to the so-called “silo-approach” prevalent in many firms in which risks are managed independently of each other. Yet for all the risk exposures that are brought under the corporate umbrella in an ERM initiative, it may be inadequate for addressing the firm’s aggregate risk in terms of the
