Cultural Transformation is Key to ERM Success: Key Takeaways from A Recent Conference Presentation

Authored by Elena Yearly, CEO, EMY Consulting LLC

At the recent University Risk Management and Insurance Association (URMIA) Regional Conference in New York City, university risk management professionals gathered to explore practical strategies for strengthening risk management across their organizations.  During the conference, Victoria Meadows, Assistant Director of the Enterprise Risk Management Program at the University of Maryland, Baltimore and I delivered an engaging and what I will call a truly ‘out of the box’ thought leadership session titled Building a Collaborative and Risk-Responsible Culture: How to Embed ERM in Every Department for Long-Term Success. We emphasized the personal side using personal  metaphors and kept the audience very engaged. They walked away with a practical roadmap for integrating Enterprise Risk Management (ERM) in their respective institutions. Grounded in real-world experience and actionable insights, our  presentation emphasized that sustainable ERM success requires a shared commitment—from frontline staff to department heads—to creating a culture where risk is not just managed but meaningfully understood and embraced.

In this article, we share some of the key takeaways from the session for you to benefit as well.

• ERM is often introduced as a structure or compliance measure—but when done well, it becomes much more: a catalyst for collaboration, innovation, and cultural transformation. For colleges, universities, and nonprofit organizations, embedding ERM across departments ensures that risk management is not confined to a single office, but woven into the day-to-day fabric of the institution.
• ERM is not just about identifying risks  - it is about how your organization makes decisions, prepares for the unknown, and aligns its operations with strategy. It intersects with every part of the organization, including: your organizational structure and operation; policies, procedures, and reporting; technology use and data governance; and training, communication, and culture.
• Recognizing ERM’s wide reach allows institutions to integrate it more naturally and effectively. It moves risk management from something reactive to something embedded and intentional.
• A powerful and often unexpected outcome of ERM implementation is cultural transformation. As departments begin discussing risks more openly and collaboratively, a mindset shift occurs. Decision-making becomes more transparent, and silos begin to break down.
• Transformation doesn’t happen overnight. It requires patience, persistence, and most importantly — a personal connection. Leaders must serve as realistic ERM cheerleaders—approachable, consistent, and supportive—while encouraging others to engage, share concerns, and see the value in risk-aware thinking. 
• True ERM doesn’t belong to one person or office. Everyone owns ERM. Encouraging shared responsibility fosters stronger insights, early identification of risk, and cross-departmental solutions. But this buy-in only comes when individuals feel heard, included, and valued.

Building personal relationships with stakeholders across the organization is essential. Ask questions. Invite dialogue. Start small. Over time, this creates trust and openness—key ingredients for a collaborative, risk-responsible culture.

Where to Start

Not sure how to take the next step? Consider these ideas:

• Invite cross-functional staff to engage in short ERM conversations
• Conduct a simple risk assessment tied to strategic goals
• Reach out to colleagues for stories of real-world risk lessons
• Celebrate early wins and keep the momentum going

ERM becomes most powerful when it's no longer seen as a task—but a tool for clarity, growth, and resilience.

Let's Connect

Want to continue the conversation? We're both available for short one-on-one strategy sessions:

📩 Victoria Meadows — Best practices for building ERM culture
victoria.meadows@umaryland.edu

📩 Elena Yearly — How to simplify and operationalize your ERM process
eyearly@emyconsulting.biz