When Enterprise Risk Management first emerged in the late 1990s, it was about enhancing decision making under uncertainty, improving the competitive performance of companies by allowing them to take risk more intelligently and transparently, and building value by creating more risk-informed cultures.  Rob Quail will lay out a case that, as a professional practice, ERM has lost its way; that general fixation with tracking and upward reporting of risks, widespread misuse of models, and a general reluctance to partner with other business functions have dramatically weakened ERM in many organizations.