Entreprise Risk Management (ERM)
In 2019, ICAO’s Risk Management processes have come under critical review by both ICAO’s Evaluation and Audit Advisory Committee (EAAC) and the Joint Inspection Unit (JIU). The need to clearly articulate what risk management means to ICAO has been underscored by EAAC, as well as the necessity to formally document risk management practices. Based on recommendations from oversight bodies, it was decided for the next iteration of ICAO’s ERM to be an integrated Organization-wide approach.
To this end, an ERM Focal Points and reference group was formed and participants benefited from a series of workshops between July 2019 and September 2019. The objective of the workshops was to establish a common understanding of ERM, its main underlying concepts and how they articulate to deliver concrete benefits. A detailed gap analysis was also shared with the ERM reference group, with the view to establishing a comprehensive and robust assessment of ICAO’s current practices, against internationally-recognized best practices.
An ERM implementation plan was also developed and its realization is ongoing.
