This white paper represents the culmination of the efforts of the working group and approaches the topic of ERM by breaking it into three broad discussion areas. After an introduction to the concept of ERM and its benefits, the document introduces a risk governance framework and discusses how the ERM process fits within. The objective of the this discussion on risk management culture and process is to describe what it means to have a Òrisk awareÓ culture and how that is both an enabler and outcome of an effective ERM framework. With the context of ERM set, the document next focuses specifically on the role of enterprise risk metrics in ERM.