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This white paper examines what steps CFOs are taking toward a new kind of risk management, which we refer to as “strategic risk management.” This is not just a program of expanded audits, as some ERM efforts have become. Instead, strategic risk management calls for embedding a new way of thinking about risk into processes and decisions. The approach also calls for using risk management to support the company’s strategic goals and to create competitive advantage, enabling corporate finance and the CFO to make a greater contribution to the firm’s overall success.