ERM Services

Verittas Directors, Managers, & Associates work with our clients to develop a strong understanding of the organizational structure, key objectives, and risk profile when developing the ERM strategy. 

The goal of our engagements is to view the organization as a whole and allow executive management to view risk from a high level and make strategic decisions that add value to the bank’s existing processes. Engagements begin with conversations with key decision makers as well as operational process owners to establish a specific understanding of internal business units. The following are considered in development of the program and are viewed as essential in developing a strong ERM strategy:

  • Establishment of defined Business Units
  • Internal Levels of Coordination between Business Units 
  • Process Owners and Segregation of Duties
  • Developing the internal Key Risk Indicators (“KRIs”) and Key Performance Indicators (“KPIs”)
  • Executive Management’s takeaways from Bank growth and any challenges presented
  • Determination of Key Risk Areas and Documentation of Higher-Risk Functional Areas
  • Preparation of Executive Summary and accompanying summary by business unit to ensure management has a fully immersive view of the organizational framework