2024 ERM Workshop Summary
On June 6, 2024, the AGA and the Association for Federal Enterprise Risk Management (AFERM) held the eighth annual Enterprise Risk Management (ERM) Workshop. Combining active dialogue and engaging presentations, this event brought together government professionals who lead ERM integration within their agencies, seek new strategies and ways to integrate ERM or regard ERM as an important topic for managing government programs and initiatives.
Falls Church, VA – December 4, 2024 – 11th Hour Service is consistently and firmly committed to advancing Enterprise Risk Management (ERM) for our federal agency customers. Through strategic partnerships with key organizations such as the Association for Federal Enterprise Risk Management (AFERM) and the AGA, we have actively driven thought leadership, fostered collaboration, and supported educational initiatives to highlight ERM’s transformative potential for federal entities.
We believe that integrating ERM into operations is transformative for organizations, driving accountability, improving decision-making, and enhancing transparency. We have helped clients understand their risk culture and achieve sustainable success by aligning agency-specific goals with robust risk frameworks.
Over the years, we have partnered with organizations to design and implement ERM strategies that:
- Proactively identify and mitigate risks, enabling organizations to anticipate and address challenges before they escalate.
- Leverage AI and advanced technologies to provide actionable data insights, enhance operational efficiency, and support faster, more informed decision-making.
- Develop adaptable frameworks that evolve with organizational needs, ensuring resilience in changing environments.
Contributing to the Advancement of ERM: A Collaborative Effort
One of 11th Hour Service’s notable contributions to the ERM community is the expertise provided by Dr. Fatima Douglas, Senior Manager at 11th Hour Service. Dr. Douglas and representatives from other event sponsors contributed to the 2024 AGA ERM Workshop Summary Report, a critical resource for advancing enterprise risk management practices across sectors. Dr. Douglas helped to synthesize the best practices from the federal and private sectors, bridging the gap between policy and practical application.
- As a sponsor of this critical workshop, 11th Hour Service facilitated discussions on emerging trends, such as the impact of Generative AI on risk management and strategies for workforce adaptation amid technological evolution. These discussions reflect the collaborative spirit of the workshop, where diverse perspectives enriched the exploration of forward-looking ERM practices.
Featured Contributions to the ERM Document
The 2024 ERM Workshop underscored key themes that resonate with our approach at 11th Hour Service:
1. Technology and AI in Risk Management
We advocate for the integration of AI-powered analytics and Governance, Risk, and Compliance (GRC) platforms to optimize risk oversight and streamline processes. This aligns with the AFERM workshop’s emphasis on leveraging technology for predictive risk modeling and real-time monitoring.
2. Fraud Risk Management Integration
Building cohesive frameworks that bridge fraud prevention with ERM strategies ensures comprehensive risk oversight. Fatima Douglas’s insights highlighted practical tools and collaborative methods for embedding fraud controls within ERM programs.
3. Value-Based ERM Frameworks
Supporting agencies in aligning ERM with mission objectives, we echo the workshop’s call for a Value-Based Management (VBM) approach that balances risk, cost, and performance to maximize stakeholder value.
Driving the Future of ERM
As a forward-looking organization, 11th Hour Service remains at the forefront of ERM innovation. Our involvement in workshops, reports, and community efforts underscores our commitment to enhancing ERM practices. By fostering open dialogue, leveraging technology, and emphasizing collaboration, we continue to empower agencies to thrive in dynamic environments.
We are proud to share our knowledge and contributions to the 2024 ERM Workshop Summary, a document reflecting our shared dedication to improving government risk management capabilities. To learn more about how 11th Hour Service can elevate your ERM program, visit www.11thhourservice.com.
Acknowledgments
AGA
Ann Ebberts, MS, PMP, Chief Executive Officer
Susan Fritzlen, Chief Operating Officer.
Lyndsay McKeown, Senior Manager, Marketing & Design
Matt Boulton, Editor
AFERM
Jason Bruno, President
In Appreciation
Special thanks to the Planning Committee for making the workshop possible and to all the sponsors for facilitating and capturing the roundtable discussions from which this report was produced,
Bert Nuehring, Chair of AGA’s Corporate Partner Accounting & Auditing Committee; Partner, Crowe, Bobbi-Jo Pankaj, ERM Leader, Guidehouse, Eric Rasmussen, Partner, KPMG, Doug Webster, Principal and ERM Practice Lead, TFC Consulting, Jason Venner, Solution Sales Director, Diligent, Irena Marchand, Manager, KPMG, Eliza Clark, Manager, Deloitte, Kathryn Vandergast, Senior Consultant, Deloitte, Roya Kamalzadeh, ERM Advisory Consultant, Deloitte, Jim McKay, Financial and Grants Management Service Line Leader, Blake Willson Group Alyssa Fusisi, Partner, Kearney & Company
Additional thanks to the writers and reviewers of this post-conference report from the following contributors: Bobbi-Jo Pankaj, ERM Leader, Guidehouse Stacey Floam, Managing Consultant, Guidehouse Brendan DeFeo, Senior Consultant, Guidehouse Sam Twyman, Senior Manager, Crowe Jim Ansberry, Senior Manager, Crowe Fatima Douglas, Senior Manager, Ilth Hour Service Margaret Salvi, Associate, Kearney & Company Kathryn Vandergast, Advisory Senior Consultant, Deloitte Roya Kamalzadeh, Advisory Consultant, Deloitte Doug Webster, Principal, TFC Consulting Inc.
This paper was originally published in AGA CGFM Publication Library, Volume AGA Research, Issue 2024 ERM Workshop Executive Summary.
https://www.agacgfm.org/Publications/Library.aspx
https://www.flipsnack.com/FCAA7CF569B/aga-2024-erm-workshop-summary/full-view.html
About 11th Hour Service
11th Hour Service is a risk and financial management advisory firm that delivers forward-looking solutions to government organizations and commercial clients. The firm offers customized solutions based on proven results that focus on advancing an organization’s ability to achieve its mission. The 11th Hour Service culture was built on integrity, empowerment, and our commitment to continuous improvement and being result-driven. The firm’s experience spans nearly 20 years and is focused across several domains, including the following services and service groups:
- CFO Strategy, Advisory, and Transformation
- Accounting, Audit Readiness, and Remediation
- Enterprise Risk Management
- Data Analytics and Intelligent Automation
- Healthcare Operations and Delivery Support
- Staffing & Talent Solutions
Go to 11thhourservice.com for more info.
