Enterprise Risk Management in Food Manufacturing Assignment

Assignment Task

You have been recently appointed as the Risk Manager of an organisation in the food manufacturing sector. This position has been vacant for three years. The Board and senior management have decided to recruit to this position following recommendations from an external review on its governance.

You have been told that a risk management framework created in 2018 is available. A risk management process is in place but not widely known, applied or used throughout the organisation. Risk registers have been completed for some departments, though they have not been recently updated. The remaining departments have never completed a risk register.

Questions

In your capacity as the newly appointed Risk Manager in this food and manufacturing organisation

• Explain and discuss the importance and added value of enterprise risk management (ERM) and of your role.
• Assess how your appointment as the Risk Manager strengthens the organisation's governance. 
• Evaluate how you will assess the organisation's context, including what tools and techniques you can use for this exercise. This is necessary at the start of your employment in this new job as understanding the changing context in which the organisation operates will allow better identification and analysis of risks. 
• Examine the actions or activities you will undertake, including what will be reviewed, updated and introduced within the short to medium term to improve and embed risk management in the organisation. 

Consider your own organisation, or another organisation you are very familiar with:

• Discuss how well integrated strategic planning and risk management are in your chosen organisation.
•  Given that sustainability is a key strategic priority for every organisation, evaluate Three key sustainability risks faced by your chosen organisation.
• Every organisation increasingly needs to deliver at pace to be successful in a challenging and volatile world. Explain the extent to which risk management supports agility and innovation in your chosen organisation.

Considering your own organisation, or another organisation you are very familiar with:

• Assess the extent to which risk management is embedded in TWO core processes in your chosen organisation and recommend what further changes are necessary.
•  'Change, whether related to core processes or any other element of an organisation and its activity is vital for the organisation to remain successful, innovative and to keep stakeholders engaged'. Critically appraise how effectively your chosen organisation manages project, programme, and/or portfolio risk to help ensure key change initiatives are successful.
•  Discuss which skillsets a risk management professional needs more within a change initiative: data analysis or influencing skills. Justify your answer. 

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