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 Getting Serious About Enterprise Risk Management: Building Better Relationships Between Risk Management and Internal Audit

Chapter Event
2/24/2016 11:45 AM
2/24/2016 4:00 PM
Spaghetti Warehouse |  

11:45 Registration
12-1   Lunch/Networking 
1-3     Program
3-4     Board Meeting​

CPE: 2 Category Auditing
$30 for members, $40 for non, and $15 for students/retirees

RSVP: By Feb 19th to Sarah Pickering at or 315.568.1156 
Include meal choice: Spaghetti w/meatballs, 15-layer Lasagna, Fettuccini Alfredo, Four-cheese Manicotti, Chicken or Regular Caesar Salad.
Cancellation after February 19 incurs the cost.  

Getting Serious About Enterprise Risk Management: Building Better Relationships Between Risk Management and Internal Audit

In the world of governance, risk management, and compliance (“GRC”) rational, talented, and experienced professionals often disagree about which of these three critical functions is primary. As a long-time risk management professional, Stephanie Nesbitt makes clear her position that all business functions should be viewed as risk management activities, and that until they are, no firm can achieve true enterprise risk management. Stephanie also argues that too often internal audit is relegated to the role of compliance watchdogs which minimizes their potential impact on the organization, and deprives it of the very meaningful insights of some of the most highly-trained and skilled professionals in today’s marketplace.  

In this presentation, Stephanie will discuss the true meaning of enterprise risk management, its impact on the firm, and its role in corporate governance. She will also illustrate how no firm can operate a valid enterprise risk management system without building a strong relationship between its risk management and internal audit functions. Finally, with these notions established, Stephanie will discuss the top 10 items internal audit and risk management need to be watching and planning for as they develop audit plans in 2016. 

Presenter Biographical Information: 

Stephanie R. Nesbitt, J.D., MBA.

Stephanie is an Assistant Professor of Risk Management and Insurance, and Director of the MBA and RMI Programs at Utica College.  She received her J.D. from the University at Buffalo School of Law, M.B.A. from Syracuse University, and B.A. in Speech Communication from Ithaca College. Prior to joining the Utica College faculty in August 2012, she spent 18 years working in industry as a risk manager and practicing attorney. Stephanie has been a featured speaker at several national, state-wide and regional industry conferences on topics such as insurance cost allocation methods, the impact of risk management on healthcare quality, individual and team accountability to improve healthcare quality, and HIPAA and patient privacy. She is a member of the New York State Bar Association and is licensed to practice law in the state of New York. 

At Utica College, Stephanie teaches both graduate and undergraduate students.  Although her official academic "home" is RMI, she also teaches in the areas of management and economic crime. In short, Stephanie loves to teach, and her professional career in industry combined with her academic background give her the flexibility to teach in many areas of Utica College's business curriculum. Stephanie’s research interests lie in the development and implementation of business education programs and manner in which we teach ethics in business education.​