The Association for Federal Enterprise Risk Management (AFERM) selects the IRS, NOAA, CMS and VHA as recipients of its inaugural federal ERM agency awards
On Wednesday, November 29th, at its 16th Annual ERM Summit held at the Washington, DC Convention Center, AFERM recognized four federal agencies for significant progress and notable achievements in the implementation and practice of Enterprise Risk Management (ERM).
The Internal Revenue Service (IRS) and the National Oceanic & Atmospheric Administration (NOAA) received the ERM Luminary Award, and the Centers for Medicare & Medicaid Services (CMS) and the Veterans Health Administration (VHA) received the ERM Notable Achievement Award.
The Luminary Award recognizes agencies that have attained an advanced level of maturity and demonstrated a broad range of accomplishment in the implementation and practice of ERM. The Notable Achievement Award recognizes agencies that have achieved impressive growth or realized a significant milestone in their ERM program.
Marianne Roth, president of AFERM, in presenting the awards at the Summit, noted that, “the award winners have shown how ERM has had a positive impact and made a difference, demonstrating the value that ERM can provide in helping agencies achieve and deliver on their goals and objectives.”
The IRS and NOAA ERM programs were initiated in 2014 and 2015 respectively, and each has established an effective and comprehensive program that has embedded and integrated risk management capabilities and considerations across their organizations, helping to inform managerial decision-making, foster a risk aware culture, and promote resiliency for their organizations.
The CMS and VHA ERM programs were initiated in 2020 and 2022 respectively, and in a short amount of time have made great strides in developing and deploying tools, processes and systems that enabled their agencies to identify, assess and determine appropriate responses to enterprise level risks.
“Implementing ERM in any organization is not an easy undertaking,” said Roth, “but these agencies have shown that it can be done, and in a manner that leverages existing risk management capabilities, ensures appropriate governance, and aligns with strategy to improve and increase the likelihood of mission success.”
AFERM is a professional association dedicated to the advancement of Enterprise Risk Management (ERM) in the government through thought leadership, education, and collaboration. For more information about AFERM or the ERM awards program, visit www.AFERM.org or call 760-512-3376.