John Fraser, Betty Simkins, Kristina Narvaez

Implementing Enterprise Risk (

• Gebundenes Buch

Produktbeschreibung

Overcome ERM implementation challenges by taking cues from leading global organizations

Implementing Enterprise Risk Management is a practical guide to establishing an effective ERM system by applying best practices at a granular level. Case studies of leading organizations including Mars, Statoil, LEGO, British Columbia Lottery Corporation, and Astro illustrate the real-world implementation of ERM on a macro level, while also addressing how ERM informs the response to specific incidents. Readers will learn how top companies are effectively constructing ERM systems to positively drive financial growth and manage operational and outside risk factors. By addressing the challenges of adopting ERM in large organizations with different functioning silos and well-established processes, this guide provides expert insight into fitting the new framework into cultures resistant to change.

Enterprise risk management covers accidental losses as well as financial, strategic, operational, and other risks. Recent economic and financial market volatility has fueled a heightened interest in ERM, and regulators and investors have begun to scrutinize companies risk-management policies and procedures. Implementing Enterprise Risk Management provides clear, demonstrative instruction on establishing a strong, effective system. Readers will learn to:

Put the right people in the right places to build a strong ERM framework
Establish an ERM system in the face of cultural, logistical, and historical challenges
Create a common language and reporting system for communicating key risk indicators
Create a risk-aware culture without discouraging beneficial risk-taking behaviors
ERM is a complex endeavor, requiring expert planning, organization, and leadership, with the goal of steering a company s activities in a direction that minimizes the effects of risk on financial value and performance. Corporate boards are increasingly required to review and report on the adequacy of ERM in the organizations they administer, and Implementing Enterprise Risk Management offers operative guidance for creating a program that will pass muster.

Produktdetails

• Robert W. Kolb Series
• Verlag: Wiley & Sons
• Artikelnr. des Verlages: 1W118691960
• 2. Aufl.
• Seitenzahl: 688
• Erscheinungstermin: 27. Oktober 2014
• Englisch
• Abmessung: 260mm x 183mm x 41mm
• Gewicht: 1295g
• ISBN-13: 9781118691960
• ISBN-10: 1118691962
• Artikelnr.: 41200902

Autorenporträt

JOHN R.S. FRASER is the Senior Vice President of Internal Audit and former Chief Risk Officer of Hydro One Networks Inc. He holds several auditing and accounting certifications and has over 30 years of experience in the risk and control field. BETTY J. SIMKINS is the Williams Chair and Professor of Finance at Oklahoma State University's Spears School of Business, where she teaches enterprise risk management and other courses. She has published award-winning research on risk management in academic and professional outlets. KRISTINA NARVAEZ is President and CEO of ERM Strategies. Her work in risk management has been recognized with accolades and awards from numerous organizations, including the Risk and Insurance Management Society.

Inhaltsangabe

Foreword xiii 1 Enterprise Risk Management Case Studies: An Introduction
and Overview 1 John R.S. Fraser, Betty J. Simkins, and Kristina Narvaez
PART I Overview and Insights for Teaching ERM 17 2 An Innovative Method to
Teaching Enterprise Risk Management: A Learner-Centered Teaching Approach
19 David R. Lange and Betty J. Simkins PART II ERM Implementation at
Leading Organizations 37 3 ERM at Mars, Incorporated: ERM for Strategy and
Operations 39 Larry Warner 4 Value and Risk: Enterprise Risk Management at
Statoil 59 Alf Alviniussen and H¢ªakan Jankensgård 5 ERM in Practice at the
University of California Health System 75 Grace Crickette 6 Strategic Risk
Management at the LEGO Group: Integrating Strategy and Risk Management 93
Mark L. Frigo and Hans Læssøe 7 Turning the Organizational Pyramid Upside
Down: Ten Years of Evolution in Enterprise Risk Management at United Grain
Growers 107 John Bugalla 8 Housing Association Case Study of ERM in a
Changing Marketplace 119 John Hargreaves 9 Lessons from the Academy: ERM
Implementation in the University Setting 143 Anne E. Lundquist 10
Developing Accountability in Risk Management: The British Columbia Lottery
Corporation Case Study 179 Jacquetta C. M. Goy 11 Starting from Scratch:
The Evolution of ERM at the Workers' Compensation Fund 207 Dan M. Hair 12
Measuring Performance at Intuit: A Value-Added Component in ERM Programs
227 Janet Nasburg 13 TD Bank's Approach to an Enterprise Risk Management
Program 241 Paul Cunha and Kristina Narvaez PART III Linking ERM to
Strategy and Strategic Risk Management 251 14 A Strategic Approach to
Enterprise Risk Management at Zurich Insurance Group 253 Linda Conrad and
Kristina Narvaez 15 Embedding ERM into Strategic Planning at the City of
Edmonton 281 Ken Baker 16 Leveraging ERM to Practice Strategic Risk
Management 305 John Bugalla and James Kallman PART IV Specialized Aspects
of Risk Management 319 17 Developing a Strategic Risk Plan for the Hope
City Police Service 321 Andrew Graham 18 BlueWood Chocolates 335 Stephen
McPhie and Rick Nason 19 Kilgore Custom Milling 363 Rick Nason and Stephen
McPhie 20 Implementing Risk Management within Middle Eastern Oil and Gas
Companies 377 Alexander Larsen 21 The Role of Root Cause Analysis in Public
Safety ERM Programs 397 Andrew Bent 22 JAA Inc.--A Case Study in Creating
Value from Uncertainty: Best Practices in Managing Risk 427 Julian du
Plessis, Arnold Schanfield, and Alpaslan Menevse 23 Control Complacency:
Rogue Trading at Société Générale 461 Steve Lindo 24 The Role of VaR in
Enterprise Risk Management: Calculating Value at Risk for Portfolios Held
by the Vane Mallory Investment Bank 489 Allissa A. Lee and Betty J. Simkins
25 Uses of Efficient Frontier Analysis in Strategic Risk Management: A
Technical Examination 501 Ward Ching and Loren Nickel PART V Mini-Cases on
ERM and Risk 523 26 Bim Consultants Inc. 525 John R.S. Fraser 27 Nerds
Galore 529 Rob Quail 28 The Reluctant General Counsel 535 Norman D. Marks
29 Transforming Risk Management at Akawini Copper 539 Grant Purdy 30
Alleged Corruption at Chessfield: Corporate Governance and the Risk
Oversight Role of the Board of Directors 547 Richard Leblanc 31 Operational
Risk Management Case Study: Bon Boulangerie 555 Diana Del Bel Belluz PART
VI Other Case Studies 559 32 Constructive Dialogue and ERM: Lessons from
the Financial Crisis 561 Thomas H. Stanton 33 Challenges and Obstacles of
ERM Implementation in Poland 577 Zbigniew Krysiak and S .lawomir Pijanowski
34 Turning Crisis into Opportunity: Building an ERM Program at General
Motors 607 Marc S. Robinson, Lisa M. Smith, and Brian D. Thelen 35 ERM at
Malaysia's Media Company Astro: Quickly Implementing ERM and Using It to
Assess the Risk-Adjusted Performance of a Portfolio of Acquired Foreign
Companies 623 Patrick Adam K. Abdullah and Ghislain Giroux Dufort About the
Editors 649 Index 651