RISK PROGRAM ACHIEVEMENT AWARD - 2024
New Braunfels Utilities
Enterprise Risk Management Program
The New Braunfels Utilities implemented an Enterprise Risk Management Program. In 2020 and 2021, NBU kicked off the first twenty-five ERM workshops. In 2022, NBU began building their ERM system within Smartsheet. Through their efforts, they documented over 400 company risks. The NBU Risk Team collaborated closely with the NBU’s Technology Department to develop several custom workflows, including ERM Risk Intake workflow that allowed new risks to be submitted through an intake form. NBU used data to build a powerful ERM Risk Dashboard. After five years of development, NBU successfully launched its ERM Program. Now, with only one year into full operation, they have mitigated many risk factors and reduced the level and frequency of many risks. This shift is a direct result of the department’s proactive oversight, not only in identifying company risks but also in finding ways to lessen their impact if and when they occur.
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