Grocerycart, LLC1 an online grocery delivery service, is considering an IPO. It has submitted a shelf-registration statement to the SEC that will allow it to pick and choose the right time to make the IPO. In the run-up to the IPO, one of their inside investors told Grocerycart's management that they needed to beef up their risk management. The company has a strong IT focus and is run by engineers. The CIO, Marie Toolan, is resistant to ERM as she thinks it is too costly. Her approach is to manage risk by ensuring that the risk of a cyber-attack or an IT failure is 0. She believes that she can manage all the firm's risks. The CEO, Mike Gautier, is an engineer but has an MBA. He is worried about the cost of a risk management program right before an IPO. He knows you had an ERM class in school and wants a memo explaining what ERM is and how Grocerycart, LLC might benefit from risk management. He specifically mentions that he wants you to compare a CIO-focused risk management plan to something more like an ERM plan