Practical Considerations In Implementing Enterprise Risk Management In An Organization
Once an organization decides to go for Enterprise Risk Management, the challenge is the implementation. At the ground level there are lots of considerations in successful implementation of the same. These considerations vary with the organizations; however the following more or less remain the same: ERM Champion: First and foremost, considering the challenges an individual is to be selected in the organization that spearheads the initiative. He or she is often called as the chief risk officer (CRO), who either reports to the chief executive officer or the chief financial officer. Next the CRO is now provided with a staff....
Risk Management: A step towards consolidating Phase 1 & 2 Efforts to Systems Strengthening in Risk Management
Early in the year, the IRMG rolled out the Risk Management Training across 7 regions in the country targeting Risk Management Focal Persons (April – May, 2023). To conclude this activity, another specialized half day training for the IRMG Member Organization CDs & EDs was carried out on 1st June 2023 at Royal Suites, Bugolobi. Across the 7 regions 290 of the targeted 300 staff members as focal points from our member organizations participated in the training that saw at least 28 participants in Fort Portal (South Western), 22 in Mbarara (Western), 58 in Arua (West Nile), 28 in Gulu...
Instituting Compliance in an Organization
Risk and compliance forms part of the 2 nd line of defense mechanisms of an organization’s controls system (COSO Framework). It complements other lines of defense in an organization including external audit and regulators. Most organizations have instituted a Risk and Compliance function to manage risks, ensure effectiveness of internal controls, and enhance corporate governance principles. Compliance in an organization – whose role? Instituting compliance in an organization is largely an oversight role of the Board or an organization’s top management body. However, ensuring compliance is everyone’s role. Compliance implies complying with an organizations’ policies and SOPs, national laws and regulations, donor...
SIDA Ties Another Knot With The IRMG For 36 Months – Marking Another Huge Step
Today, we celebrate another mileage, a step towards more success, reignited by the confidence vested in us by the Swedish Embassy and a new dawn for 70+ members that eagerly waited for 9 months for this to happen. The key signatories were the Head of Development Cooperation Section, Embassy of Sweden (Ola Hallgren) and Country Director, Plan International Uganda (Iveta Ouvry). This was witenessed by the Head of Program Implementation (Carron Beaumont), the Programme Officer for Human Rights and Democracy (Ulrika Brobäck) and the Programme Manager for the IRMG (Henry Owora). Deepening our programming, needed this push. Sida made her promise...