Enterprise Risk Management (ERM) is a strategic, organization-wide process for identifying, assessing, managing, and monitoring risks (and opportunities) that could impact an organization's ability to achieve its goals, providing a holistic view beyond traditional, siloed risk functions to support better decision-making and long-term sustainability. It covers financial, strategic, operational, and compliance risks, integrating them into strategic planning with a defined risk appetite, and often guided by frameworks like COSO or ISO 31000.