The guidance defines enterprise risk management as: …a process, effected by an entity's board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.
As in-house or outside legal counsel, you are one of the “other personnel” referred to in this definition. As such, you will likely be part of the company's team that will implement ERM. I strongly encourage you to become familiar with your role in this process as outlined in the draft guidance.