U.S. CFO Council Releases ERM Playbook
On July 28, 2016, the Chief Financial Officers Council (CFOC) and the Performance Improvement Council (PIC) released a document entitled Playbook: Enterprise Risk Management (ERM) for the U.S. Federal Government. The document is designed to provide key concepts for a comprehensive and effective ERM program to meet the requirements of the revised OMB Circular A -123.
The Playbook is the result of an interagency effort convened by the Office of Executive Councils under the leadership of the Chief Financial Officer Council. The group included risk practitioners and cross functional representatives from more than twenty federal agencies who gathered, defined, and illustrated practices applying ERM in the Federal context.
The Playbook will help federal departments and agencies make better decisions based on a more holistic view of risks and their interdependencies. To help affected agencies implement A-123, the Playbook will be updated with information and examples as programs’ and agencies’ ERM capabilities mature. To guide agencies as they implement A-123 and use the Playbook, forums to discuss issues that arise and share best practices related to ERM across the Federal Government will be convened.
Federal government contractors should be aware of these immediate requirements affecting the following agencies.
• Department of Agriculture
• Department of Commerce
• Department of Defense
• Department of Education
• Department of Energy
• Department of Health and Human Services
• Department of Homeland Security
• Department of Housing and Urban Development
• Department of the Interior
• Department of Justice
• Department of Labor
• Department of State
• Department of Transportation
• Department of the Treasury
• Department of Veterans Affairs
• Environmental Protection Agency
• National Aeronautics and Space Administration
• Agency for International Development
• General Services Administration
• National Science Foundation
• Nuclear Regulatory Commission
• Office of Personnel Management
• Small Business Administration
• Social Security Administration
For a copy of the full Playbook, please click here >>