NRMC clients that adopt Enterprise Risk Management (ERM) commit to a holistic, progressive approach to risk management, in which risk-taking is both necessary and positive for the health of the organization. Traditionally, risk management focuses on avoiding or minimizing risk, but ERM focuses on instilling risk-aware decision-making practices throughout an organization. ERM enables nonprofit teams to better anticipate risk, plan for contingencies, and leverage opportunities to take the bold risks that offer potential to advance their missions.
Engage NRMC for an Enterprise Risk Management Engagement
In the NRMC team’s experience, nonprofit organizations often have effective risk management efforts in place, but those efforts may be limited to one or more areas of service or operations. An ERM engagement elevates strategic risk oversight to the board, establishes protocols for ensuring an effective board-staff partnership in the oversight and management of risk, and sets forth specific strategies for monitoring and managing risk across all areas that impact mission fulfillment, including reputation, relationships with stakeholders, governance activities, and day to day operations.
Our most popular ERM offering is an Enterprise Risk Assessment, which provides:
- An independent, objective analysis of the strategic and operational risks facing your nonprofit, and an opinion about the relative urgency with which your team should address those risks
- Detailed, custom, practical recommendations for strengthening risk management capabilities across your organization, in order to manage the risks identified during the engagement, and to instill risk-awareness in the minds of your internal stakeholders
- Risk leadership coaching for team members responsible for leading or facilitating ERM initiatives at your nonprofit
- Strategic risk assessment and risk oversight training for your board of directors
- Custom-fit ERM resources such as risk assessment frameworks, risk reporting dashboards, and Key Risk Indicators (KRIs)–metrics used to monitor the impact of your ERM program
NRMC’s minimum fee for an Enterprise Risk Assessment is $36,000. If this engagement does not fit your needs, call us to develop an ERM offering just for you. To learn more about NRMC’s ERM consulting services, contact Erin Gloeckner (Erin@nonprofitrisk.org) or Melanie Lockwood Herman (Melanie@nonprofitrisk.org) at 703.777.3504.
Base Price: $36,000