We used to think risk was a compliance thing. Something legal handled. Something we’d talk about once a year.
Until we had a product launch flop — not because of the product, but because of a risk we didn’t see coming: supply chain delays from a regulatory change.
No one had flagged it. No one was assigned to monitor it. It just… happened.
That was our wake-up call. And it led us to COSO ERM.
Risk Isn’t the Enemy — It’s the Lens
COSO taught us something simple: every strategic goal includes risk.
Growth isn’t risk-free. Innovation isn’t risk-free. Scaling isn’t risk-free.
But most importantly, COSO showed us that risk doesn’t mean don’t do it — it means do it smarter.
COSO Helped Us Rebuild — Strategically
We stopped thinking of risk as a box to tick and started using COSO’s five components to drive every team meeting:
- Governance & Culture – We created a leadership dashboard that included risk alongside revenue.
- Strategy & Objective-Setting – Every new goal now includes a risk mapping session.
- Performance – We built performance metrics that track potential threats, not just outcomes.
- Review & Revision – Our quarterly reviews now include a “What did we miss?” section.
- Communication – Everyone from interns to execs now sees risk reports in plain language.
It wasn’t perfect at first. But it gave us a common language — and it started to shift our culture.
Before vs. After COSO
- Before COSO
Risk was a siloed report
- Goals were set without real scenario planning
- Communication during crises was chaotic
- Teams didn’t know what “risk appetite” meant
After COSO
- Risk became part of strategy discussions
- KPIs were risk-adjusted
- Reporting was simplified and shared
- We made decisions faster, with more confidence
It’s More Than a Framework — It’s a Filter
Now we use COSO to:
- Evaluate new markets
- Shape hiring and training around risk culture
- Link ESG strategy to enterprise goals
- Stay alert to cybersecurity and data governance issues
We’re still growing. But we’re doing it with fewer surprises and stronger alignment.
A Course That Actually Helped
We knew we weren’t going to absorb COSO from a 100-page PDF. So we tried the 1.5-hour COSO ERM course from Smart Online Course + Risk Management Association of India.
It broke it down like this:
- What COSO is (without the fluff)
- How to apply it to your role
- Real examples (like ours!)
- Certificate + resources we still use today
Final Thought: Don’t Wait for a Wake-Up Call
We learned the hard way that risk can derail you — unless you’re ready.
COSO ERM didn’t just help us recover. It helped us reimagine how we grow, lead, and learn as a team.
You don’t need to be perfect. Just be prepared.