Yellow Sapphire, a battery manufacturer, has an ERM process and a formal risk committee. The last time the risk committee convened was a year ago to discuss potential risks Yellow Sapphire might face. Since then, several new regulations have been put in place pertaining to the battery manufacturing industry. New competitors have emerged, and new markets have been identified, but the ERM committee has not convened to discuss them.

Which of the following responsibilities is not being fulfilled in this scenario?

Develop an ERM process

Identify risk owners and accountabilities

Continually monitor risk management strategy and process

Identify risk appetite