They seek the similar kind of support from its executives and external auditors

They seek the similar kind of support from its

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acceleration. They seek the similar kind of support from its executives and external auditors. Daniel Zéghal, Meriem El Aoun, 2016. Enterprise Risk Management in the US Banking Sector Following the Financial Crisis. Another major part in Zurich’s ERM implementation is, the organization made worthy decisions with respect to the business improvements in its operational model as well as quickly adapted to the continuous maintenance of ERM processes and strategies. It gradually increased its brand value and organization integrity. After viewing ERM’s success in ERM we could clearly understand how it made ERM as its protective shield for its organization. They kept it simple to understand the principles of ERM around its functional areas. ERM for Zurich is mandate and much less than gaining its value. They characterized each and every available tools and easy step process to implement ERM approaches. A maximum number of business implementers at Zurich begun their special focus on entire business risk limitation goals. Stroh, P. J. (2005). Enterprise Risk Management at UnitedHealth Group.
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Apart from ERM we could also see other business-oriented process such as disaster recovery planning and other backup business continuity plans, Zurich made the benefit of ERM strategies and its principles. It has keenly studied about ERM’s ways to succeed in business operations and effectively implemented those as their key process. Investors, customers and business leadership are now able to look up at each other activities and engaging with all other by mitigating the risks. In fact, ERM made every person related to the Zurich’s organization in one platform. It not only focused on single field of organization, but also looked up at each and every minor risk they could affect. SaudahAhmad,ChewNg and Lisa AnnMcManus. Enterprise Risk Management (ERM) Implementation. Zurich operations are held at all over the world, around 170 countries are part of their business and identified each and every risk that could cause loss in any areas. It didn’t happen on a single term basis; they slowly made every part of the organization and its respective location to understand the need of ERM in its business growth. The risk owners prepared business key issues and produced risk reports to business leaders. After that they observed key challenges across the different functional areas and improved its risk competencies. They understand the percentage of risk assessments and analyzed responsibilities at senior level management.
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