Responding to recent market news that a large hedge fund is experiencing difficulties, the CEO of a bank requests information regarding the bank's exposure to that fund and other major counterparties. The CRO of the bank reviews the bank's credit exposures and notes that the bank has exposures to hedge fund counterparties across different lines of business, which are not aggregated. The CRO recommends implementing an ERM program to improve the bank's risk governance. Which of the following actions would be most appropriate for the CRO to suggest?