A conceptual paper on Enterprise Risk Management

ABSTRACT This paper provides discussion on various concepts, theories, models and processes related to enterprise risk management. This conceptual review discussed the understanding, scope, process and challenges of Enterprise Risk Management. Communicating and monitoring risk management across the organization, best practices are also discussed in the paper. This conceptual paper explains ERM as the process, by which organizations in all industries identify, assess, control, exploit, finance, and monitor risks from all sources to increase value to its stakeholders. Keywords: Enterprise Risk Management, ERM