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Meet the Policymakers featuring
The Honorable Marlene Caride, Commissioner, NJ Department of Banking and Insurance
Wednesday, October 10, 2018
11:30 a.m. - 1:30 p.m.
Ramblewood Country Club, Mt. Laurel
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State Affairs Committee featuring
Assemblyman Joe Howarth and Assemblyman Ryan E. Peters, Esq.
Wednesday, October 17, 2018
8:00 - 10:15 a.m.
Trump National Golf Club, Pine Hill
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Emerging Leaders Network featuring
Joe Volpe, Founder & CEO, Cescaphe
Wednesday, October 17, 2018
5:30 - 7:30 p.m.
Zed's Beer, Marlton
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Good Morning South Jersey Series featuring Pete Ciarrocchi, Chairman & CEO, Chickie's & Pete's Crab House and Sports Bar
Friday, October 19, 2018
8:00 - 10:00 a.m.
Chickie's & Pete's, Marlton
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Five Key Tips for Your Not-For-Profit Organization's ERM Process
As more and more not-for-profit organizations are appreciating the importance and value of an enterprise risk management (ERM) process, many are asking how to best implement one.
While there are many contributing factors to a successful ERM process, the following are five key steps to implementing and/or improving your organization's process, each correlating to one of The Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework components:
1. DEVELOP A FORMAL GOVERNANCE STRUCTURE
Having a defined structure in place for your organization's ERM process will help to formalize a process that may seem elusive, and encourage buy-in from all stakeholders involved in the structure. A common element in this structure is a central risk management officer and/or risk management committee who facilitates progress throughout the ERM framework components and reports to the appropriate stakeholders.
2. OBJECTIVES AND STRATEGIES ARE AT THE CORE OF ERM
Before an organization can begin identifying and prioritizing its risk portfolio, it must first define the objectives and strategies that the risks may be impeding. Objectives should be at the organizational, departmental, and/or process level and can be defined in qualitative and/or quantitative terms. The objectives should align with the organization's mission, values, and risk appetite, which is also defined in the ERM process.
3. CONSIDER VARIOUS PERSPECTIVES WHEN IDENTIFYING
AND PRIORITIZING RISK
Be sure to consider various sources and types of risk that could impact your organization's path to achieving objectives. Risks may result from both internal and external factors, and can be operational, financial, strategic, regulatory, and, most importantly for most not-for-profit organizations, reputational in nature. While boards are ultimately charged with risk oversight, we believe risks can be delegated and "owned" by different stakeholders in an organization to optimize effectiveness and efficiency.
4. REMEMBER THAT THIS IS AN ONGOING PROCESS
Some of the risks, mitigating processes and controls, along with the prioritization assessed as part of ERM will be ever-changing. Therefore, the ERM process should continuously stay up to date with these changes. The risk management officer or committee can be charged with ensuring that both internal and external changes are considered and that all other stakeholders in the ERM structure are involved in continuously keeping updated.
5. THE VALUE OF THE ERM PROCESS IS ACHIEVED ONLY AFTER IT IS WOVEN INTO THE DECISION-MAKING PROCESS
As is emphasized in the 2017 COSO ERM Framework, risk-driven performance management, not just risk monitoring, is what will enhance value. Organizations can drive value by incorporating the risks assessed and prioritized and key performance indicators into operational and strategic decision-making.
Specific organizations and industries are at varying levels of ERM implementation and sophistication; ERM is not a one-size-fits-all process.
GAIN INSIGHT
For more information, read our full alert
about ERM implementation for not-for-profit organizations
here
.
Source: COSO 2017 publication: Enterprise Risk Management - Integrating with Strategy and Performance
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Kelly D. Johnston
Chairman
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Kelly D. Johnston, Vice President of Government Affairs at Campbell Soup Company, chairs the Congressional Action Committee, which features
members of the region's Congressional delegation and U.S. Senate.
Next Meeting: Second Congressional District
Candidates Forum
11:30 a.m. - 2:00 p.m.
Luciano Conference Center, Vineland
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CCSNJ Hosts Hispanic
Business Forum
CCSNJ & Hispanic business leaders gathered on September 21 for a panel discussion "Corporate Social Responsibility: The Commitment to Serving the Hispanic Business Community" and to visit nearly 30 business exhibits.
Generosa Grana, MD, FACP
Director, MD Anderson Cancer Center,
Cooper University Health Care,
delivered keynote remarks.
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State Affairs Committee
On September 26, nearly 100 members attended the State Affairs Committee meeting featuring
Kevin Drennan, Executive Director, Senate Majority Office & Anthony "Skip" Cimino, Executive Director, Assembly Majority Office.
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After Hours Networking at the Camden County Boathouse
On September 27, CCSNJ members gathered at the Camden County Boathouse on Cooper River for an evening of networking by the river front.
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Want to stay up-to-date on Chamber events, news, promotions and more?
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October 23
Second Congressional District
Candidates Forum
October 24
featuring the NJDOH & NJDHS Commissioners
October 30
October 31
featuring Congressman Frank Pallone, Jr.
November 1
November 13
featuring
Asm. Vince Mazzeo &
Asm. John Armato
November 27
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ADVERTISEMENT
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Executive Director
The Joseph Fund
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As is consistently my experience, our Chamber meetings are jammed packed with exceptional opportunities to learn. A recent example came in our dynamic August 1st, CCSNJ "Committed to Camden" Meeting, when Dee C. Marshall provided a truckload of wonderful networking tips and a glimpse of a system that has grown her consulting business exponentially. Of the many interesting and pragmatic tips Dee shared, I'd offer first her phrase, "Networking for the Win" and list your 5 tips for relationship management.
- Diversify your network purposely (gender, race, ethnicity, age geography)
- Create a WMOA plan for your networking; that is one with weekly, monthly, quarterly and annual focus
- Establish a nurture sequence. As yourself, what three meaningful connections will I make at this next meeting I will attend? Note: CCSNJ provides a list of attendees at least 24 hours prior to the meeting. A definite bonus for all CCSNJ meetings in which you are pre-registered.
- Create YOUR Fortune 50 list
- Send "snail mail" correspondences. Receiving the letter or the personalized card has a high value and tremendous impact.
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CCSNJ members will receive a 20% discount on all track rentals or 10% discount on all per person packages. Group size must be 6 people or more and the event must be booked in advance with Robert Andrey, Director of Corporate & Special Events.
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GRAND OPENING of "Queen" Symphony at Cherry Hill
Join us for Symphony at Cherry Hill's Grand Opening on October 11 from 4:00 - 7:00 p.m.! Excursions to amazing destinations- stellar- entertainment- Captain's Table style fare - Gifts for all cruisers. Embarkment begins at Croft Farm via valet parking. From there, hop on our "Queen" Symphony at Cherry Hill Trolley.
Grand Prize Gift: All expense cruise for two to the Caribbean!
Seabrook Foundation's 5th Annual Living Proof Breakfast
Enjoy a morning full of savory delights, inspirational testimonies and an opportunity to help families find the courage to recover. The breakfast will take place on October 10 from 8:00 - 10:00 a.m. at The Mansion on Main Street, Voorhees. Please RSVP with
Alicia Newcomb at (856) 455-7575 ext. 1151.
NJM is 1st insurer to earn J.D. Power 'Auto Claims' certification
NJM Insurance Group
, the West Trenton-based personal auto insurer, said Thursday morning it is the first insurer in the nation to earn the title of "Auto Claims Certified" under a new
J.D. Power
program.
The Personal Auto Insurance Claims Certification Program recognizes personal auto insurers committed to providing customers with outstanding claims experiences.
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Cumberland county college, a college in Vineland, NJ is committed to student success and serving a diverse community of learners and businesses.
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