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CONCLUSION

We expect that the ERM tools we have implemented will improve GM's ability to identify, exploit, or mitigate, and communicate risk to senior leaders and the board of directors. We view this as a competitive advantage for General Motors that will enable us to react more quickly with improved and well-defined actions. We believe that an integrated risk management process (ERM, Sarbanes-Oxley, CSA, and consolidation of other compliance/assessment types of activities) will enable GM to utilize its compliance resources much more efficiently. Importantly, it will enable the company to have a consolidated, holistic view of risk and allow management and the board of directors to take comfort knowing that mitigation activities will be visible and tracked, and owners will be held accountable.

ABOUT THE CONTRIBUTORS

Marc Robinson is Assistant Director of Enterprise Risk Management at GM. He is an economist with over 25 years as an internal consultant at GM. He has also taught at UCLA, Stanford University, and the University of Michigan, and was Senior Staff Economist on the Council of Economic Advisers under President George H.W. Bush.

Lisa Smith, CRMA, CCSA, is Assistant Director of Enterprise Risk Management at GM. She has served in a variety of audit-related roles since joining GM in 2002, including the global implementation of ERM starting in 2010. She has an MBA from the University of Michigan and also serves as an instructor for the Institute of Internal Auditors.

Brian Thelen has been General Auditor at GM since 2011, and served as Chief Risk Officer through July 2014. Prior to that, he was Vice President of Audit Services at Delphi Corporation, Vice President of Internal Audit Services at Waste Management, and general auditor at American Standard. He started his career at Ernst & Young and has a CPA and an MBA.

 
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