This chapter has described the value of performance measurement as a component of ERM programs.
At Intuit, risk management is the responsibility of everyone in the organization, from the board and executive management all the way down to the individual employees. To ensure that risk management is effective, it must be a core business competency, and measuring performance facilitates tracking that the appropriate level of competency is achieved.
Intuit's ERM program provides a rigorous and coordinated approach to assessing and responding to risks. It recognizes the upside opportunity and downside nature of risks. Routine performance measurement is a critical component of the program and not only ensures a focus on the most significant risks but also accelerates progress on managing current and emerging risks and assuring alignment with strategic goals.
Performance is reviewed regularly with the Audit and Risk Committee of the board, and, as a result, feedback drives continuous innovation around performance measurement and reporting. ERM is viewed as an integral part of the company's current operating model, and continuously improves enterprise-wide risk awareness, monitoring, and management.
ABOUT THE CONTRIBUTOR
Janet Nasburg is Chief Risk Officer at Intuit, makers of QuickBooks, TurboTax, Quicken, and Mint. Intuit is committed to revolutionizing the way people manage their small businesses and personal finances. Ms. Nasburg is responsible for driving Intuit's enterprise risk management capability to ensure that the company appropriately balances opportunities and risks to achieve optimal business results. She reports routinely to the board of directors on the company's risk landscape, risk tolerance, and emerging risks.
Ms. Nasburg has more than 30 years of experience in finance and risk management. She is on the executive committee of the Conference Board's Strategic Risk Management Council, and is also a member of the Institute of Internal Auditors. She is a Certified Internal Auditor (CIA), Certified in Risk Management Assurance (CRMA), and Certified in Control Self Assessment (CCSA). She has a BS in agricultural economics and business management from the University of California, Davis, and an MBA in finance from the Graduate School of Business, San Francisco State University.