Our Enterprise Risk Management (ERM) Journey Marshelle Richardson, OCFO Chief Risk Officer (CRO) S ERM is critical because its success contributes to the strength of the OCFO. If we don't identify our risks and understand why they exist, we will not be prepared when something bad happens. THE BOTTOM LINE trategic Initiative #23 (Implement an Enterprise Risk Management Framework) supports the OCFO's overall mission to enhance the fiscal and financial stability, accountability, and integrity of the OCFO. The Office of the Chief Risk Officer (OCRO) is responsible for evaluating risks to our agency and developing approaches to address them. The initiative introduces a centralized framework to manage risks across the organization. In conjunction with this initiative, the OCRO will use a number of best practice models to establish, develop and maintain a robust OCFOwide risk management environment. Over the next few weeks, the Office of the Chief Financial Officer (OCFO) will begin our Enterprise Risk Management (ERM) journey. There is a lot of technobabble about ERM: the COSO framework, the COSO cube (way too intimidating) and other complicated terms being used to explain ERM. This article is intended to provide a very brief insight into ERM and to build your interest and participation in our journey. If we are successful, ERM will help achieve the goal of moving the OCFO closer to becoming a "BEST IN CLASS" financial organization.