OBJECTIVE 1: To develop and promulgate international standards for quantitative risk education intended to be the core foundation for risk managers in all major economic sectors including banking, insurance, investment, energy and other utilities, and non-financial industries (manufacturing, retail, transportation, health services, government, etc.).

Sound risk analysis and valuation in today's complex financial, accounting and regulatory environment will require the next generation of risk managers better understand the intricate interplay of all risk exposures and their management in an integrated framework. Leading universities worldwide have recognized the need for a broad-based risk education that integrates all risk management-related fields, many of which are currently narrowly defined such as, for example, equity risk or actuarial risk modeling. To achieve this goal ERMII will engage a selected panel of leading risk management scholars and experts to:

• Develop and publicize standards for excellence in broad-based quantitative risk education by the universities and colleges.
• Accredit educational institutions that satisfy the curriculum, research and teaching standards.

OBJECTIVE 2: To promote multi-disciplinary, international, research in the emerging discipline of enterprise-wide risk management, by developing innovative concepts, effective quantitative tools and strategies.

The growing practice of enterprise risk management has generated a large variety of issues that can only be addressed through conceptual and theoretical innovations via multi-disciplinary fundamental research. ERM-II aspires not only to expand the types of risk that can be quantified or the precision with which they are managed, but also to encourage research that explores the concept of risk in relation to valuation dynamics and information, management, behavioral, incentive, and strategic issues. ERM-II, through its international consortium of universities and professional organizations, will encourage and advance integrated risk management knowledge for the benefit of individuals, business and societies. To achieve this goal ERM-II will:

• Initiate and sponsor research projects to be conducted by member universities in close collaboration with industry professionals and government officials.
• Sponsor and organize workshops, conference and symposia that will highlight important innovations in enterprise-wide risk management and increase dialogue between academics and professionals.
• Build on latest regulatory and professional accomplishments, conducting research to develop expert guidance on risk measurement methods and tools for specific industry sectors.
  

OBJECTIVE 3: To help existing and future institutions and organizations to improve professional standards of education, conduct and competence in the modeling and management of risk on an enterprise-wide basis.

There currently exist a number of organizations that represent various specialties within the risk management profession. The risk education covered by the standards of these professional bodies differs greatly across many of these organizations. ERM-II seeks to ensure a consistent high level of competence in the quantification and modeling of a broad set of risks for risk professionals graduating from an ERM-II accredited university program. To achieve this goal ERM-II will:

• Work jointly with sponsoring organizations to establish recognition for graduates of ERM-II accredited university programs and complementary training.
• Work with the specialized-risk professional organizations to ensure ERM-II core curriculae will satisfy the foundational components of their professional requirements.