<div class="WordSection1"><p>Increment of business complexity and corporate governance requirements, has raising awareness of risks and the importance of risk management. Traditional risk management now deems insufficient to protect company against risks. Therefore companies try implementing Enterprise Risk Management. To measure, how effective is ERM implemented, we need a measurement tool known as Risk Management Maturity Model.</p><p>      There is a paradigm stating that risk management implementation depends on several factors. This research using firm characteristics such as:  firm size (in terms of Total Assets and number of employee), public ownership, and leverage as its determining factors.  This research intends to figure out the level of ERM Maturity of Indonesia’s companies other than Bank and Financial Industry and the determining factors that might influence ERM implementation. This research shows that the risk maturity level of non-Bank and the Financial Sector- public listed companies are relatively low (majority of tested samples show maturity in initial and repeatable level). In addition, firm size especially in terms of financial assets plays a significant role in risk management maturity.</p><p><strong><br /></strong><em></em></p></div><em><br clear="all" /> </em><p><em> </em></p>