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Not long ago Russell Paquette, the treasurer of Recreation Equipment Inc., spent a Wyoming vacation creating and repairing footpaths along the Continental Divide. Now, at REI, he is building a different kind of pathway from scratch: an enterprise risk management (ERM) system that will seamlessly integrate all strategic, operational, financial and governance risks throughout the entire organization. “It’s an ongoing challenge,” says Paquette, a seven-year REI veteran who stepped into the treasurer’s job in March. “It could take four or five years to complete.”

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