Enterprise Risk Management Maturity: A Clinical Study of a U.S. Multinational Nonprofit Firm.

This article focuses on the development, implementation, and evaluation of an enterprise risk management (ERM) system at Global Educational Systems (GES), a U.S.-based multinational nonprofit organization, over the period 2015–2020. Using the Risk and Insurance Management Society Risk Maturity Model (RIMS RMM) and statistical analyses of questionnaire data, the study identifies and prioritizes GES's key strategic risks—including strategic, innovation, informational/security, geopolitical, financial, and regulatory risks—and develops targeted mitigation strategies. Post-implementation reviews demonstrate that the ERM system improved GES's financial and operational resilience, notably aiding the firm in managing challenges posed by the 2020 coronavirus pandemic through enhanced risk governance, diversified revenue sources, and optimized risk-adjusted project valuation. The findings support the value of mature ERM frameworks in nonprofit and for-profit multinational organizations for effective risk identification, prioritization, and mitigation.