There is no risk management culture.

Brazil does not yet have a culture of risk management, as evidenced recently by the newspaper Valor Econ?mico.

The adoption of BSC's, KPI's, KRI's and other alternative indicators are not enough to replace a basic process of corporate risk management.

Because this culture does not exist, it places on the shoulders of the internal control and audit areas the responsibility of structuring the capture of risk factors, monitoring their mitigation, and conducting the entire risk management process, when in fact a good part of responsibility should be attributed to the first line of defense, which are the process managers and their hierarchical superiors.

Once the three lines of defense are stablished , which are essential for the successful structuring of ERM, the obstacles begin with this implementation.

However, even if the structure of the three lines of defense are correctly adopted, ERM will still not have the efficiency and effectiveness required to mitigate corporate risks, given its complexity and scope, which should cover all subsidiaries, business units, divisions and levels of the organization.

This is because a digital platform is needed which combines ECM capabilities with a powerful business process management (BPM) solution, in a way integrated with governance practices, generating process automation, with a determined and timely workflow, to accelerate and perpetuate ERM by powering a real-time control panel with Board and Executive team access.

On top of this, to make sure that all components of risk management are covered, the addition of BI would complete the scenarious, since the tool capability could retrieve from the ERP informations in ordem to feed automatically the KPI's and KRI's required to fullfeel the dashboard.

If your company does not own it, do not miss the opportunity to get in touch and see how friendly it is to use this tool and how much value it can add to your corporation's activity.