ERM Flashcards by Sophia Hourihan

Q

Erm - nuemonic

A

GoPro

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Q

G- GoPro

A

Governance & culture

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Q

O-gOpro

A

Strategy & objective setting

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Q

P-gopro

A

Performance

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Q

R-Go pro

A

Review & revision

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Q

O- GoPrO

A

Ongoing information communication and reporting

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Q

Governance & culture nuemonic

A

Doves

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Q

Strategy & objective setting nuemonic

A

Soar

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Q

Performance nuemonic

A

VAPIR

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Q

Review & revision nuemonic

A

Sir

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Q

Ongoing information, communication, and reporting nuemonic

A

Tip

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Q

D-doves

A

Defines desired culture

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Q

O-doves

A

Exercises board oversight

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Q

V-doves

A

Demonstrates commitment to core values

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Q

E-doves

A

Employees-attracts, develops, & retains capable employees

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Q

S-doves

A

Establishes operating structure

Q

S-soar

A

Evaluates alternative strategies

Q

O-soar

A

Formulates business objectives

Q

A-soar

A

Analyzes business context

Q

R-soar

A

Defines risk appetite

Q

V-vapir

A

Develops portfolio view

Q

A-vapir

A

Assesses severity of risk

Q

P-vapir

A

Prioritizes risk

Q

I- vapir

A

Identifies risks -events

Q

R-vapir

A

Implements risk responses

Q

S-sir

A

Assesses substantial change

Q

I- sir

A

Pursues improvement in erm

Q

R-sir

A

Reviews risk & performance

Q

T-tip

A

Leverages information & technology

Q

I-tip

A

Co mmunicates risk information

Q

P-tip

A

Reports on risk - culture, and performance