SOURCE: Control Solutions International

September 10, 2008 15:30 ET

Control Solutions Launches Assault on Enterprise Risk Management Traditionalism

NEW YORK, NY--(Marketwire - September 10, 2008) - Control Solutions International, the leading risk and control solutions advisory firm, today announced an assault on the traditional approaches to enterprise risk management (ERM) with the launch of OREO ERM(SM) -- a radically different approach for achieving business strategy assurance through ERM. OREO ERM, which has been described by many as "ERM made simple," was designed by Control Solutions founder and CEO Frank Edelblut.

In its work with many organizations, Control Solutions continues to see the same pattern of frustration and aimlessness amongst ERM implementation efforts. "It's a frightening story shared by many organizations; they've embarked on an ERM journey only to find the road littered with potholes and the destination nothing more than a dead end (or a roundabout with no exits)," adds Justin Morrow, partner. The need for a different approach is clear.

A fundamental aspect of Control Solutions' OREO ERM methodology is the belief and recognition that organizations have been managing risk all along -- or they wouldn't be in business. OREO ERM puts this in perspective and transcends the minutia to provide organizations with a simple model by which to understand and manage their risks without creating unnecessary new functions and processes.

Accompanying the launch of the OREO ERM service is the release of two white papers titled "The Seven Deadly Sins of Enterprise Risk Management and How to Avoid Them" and "Reaching New Heights with Enterprise Risk Management." The first describes the common mistakes that organizations tend to make when they undertake an ERM effort, elaborating on these errors and providing specific guidance on how to prevent them. A preview edition of the white paper enjoyed several weeks as the number-one downloaded white paper on CFO.com.

"In most cases, the mistakes that organizations make in their ERM efforts stem from basic and systemic flaws in their approach. These flaws are propagated by the surfeit of ERM-related surveys, white papers and approaches promoted by the myriad of academics and consultants in the field," says Frank Edelblut.

This doesn't have to be the case, he adds, as "ERM can truly be an effective means of adding value to an organization by helping to assure the achievement of its business objectives." The "Reaching New Heights with Enterprise Risk Management" paper expands upon this premise and describes how organizations can leverage ERM to achieve business strategy assurance.

The two white papers and more information about OREO ERM can be obtained by visiting the Control Solutions website, www.controlsolutions.com.

About Control Solutions

Control Solutions is the leading global risk and control solutions advisory firm providing independent internal audit, compliance, risk management, business advisory and technology services, solutions and innovative products. For more than 15 years, Control Solutions has been the trusted advisor to over 500 public, private, nonprofit and government clients. Our experienced professionals reflect our distinctive culture, placing the interests of our clients first and emphasizing integrity, commitment to quality, innovation and teamwork. For more information, visit www.controlsolutions.com.

Contact Information

  • For more information, contact:

    Margo Grant
    Corporate Communications
    Email Contact
    +1 (603) 598-0700