Aramco tackles enterprise risk head on with training and tools

Aramco’s Corporate Enterprise Risk Management (ERM) Group recently celebrated a landmark 1,000^th employee companywide who has attended its customized two-day ERM class.

Aramco’s ERM framework is a formal system of integrated processes by which risks are identified, reported, and managed in a systematic, proactive, and coordinated manner across the company. The class, which began in 2013, is open to employees across the company who play a key role in supporting the implementation of the ERM framework. 

Taught by Iqbal Noor, the class is currently offered monthly. Since March 2020, the course has been taught virtually, but it tentatively is planned to return to an in-person format some time in 2022.

A dynamic class, it now includes areas such as: 

• The ERM General Insturction
• The corporate risk management policy 
• Enhancements to the Six Step Risk Management Process methodology. 

In addition, a web-based tool, called e-GRC, was implemented to store risk register data and to aid in reporting of risk trends and the status of existing risks. 

The target audience for the two-day class has been the Risk Management administrators who are responsbile for maininting the risk registers for their organizations. Also, risk champions and task owners who seek an understanding of the ERM process and their responsibilities can take online training modules available from the corporate ERM portal.