An emerging discipline—strategic risk management (SRM)—was defined and recognized by the Risk and Insurance Management Society at its annual conference here.
RIMS released a definition for the growing discipline within risk management. RIMS defines SRM as a business discipline that drives deliberation and action regarding uncertainties and untapped opportunities affecting an organization's strategy and strategy execution.
Several years ago, the RIMS board identified SRM as an emerging practice, viewing it as the next step in the evolution of enterprise risk management (ERM).
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