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Fundamentals of Enterprise Risk Management

Fundamentals of Enterprise Risk Management

Author: John J. Hampton
Publisher: Amacom
ISBN: 9780814414927
Published In: September 2009
Format: Hardback , 320 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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In today’s business environment, risk is a natural part of life. This book gives readers an entire framework for managing it for great results.

Using examples from companies such as Home Depot, Airbus, Boeing, and Nokia, Fundamentals of Enterprise Risk Management takes a fresh look at one of the hottest topics in business today. Showing readers in charge of monitoring operational exposures in corporations, nonprofit organizations, and government agencies how they can best determine and balance opportunities against the possibilities of loss, this book provides clear strategies to help readers:

• recognize both internal and external exposures

• understand important concepts such as risk mapping and risk identification

• recognize the weaknesses of current ERM systems

• align risk opportunities with their organization’s business model

• stay in line with Sarbanes-Oxley compliance

The book introduces innovative new concepts such as hierarchical risk structures, alignment of risks with the business model, creation of a central risk function, and the role of an ERM knowledge warehouse. Featuring enlightening case studies and practical exercises, this essential book shows readers how they can implement ERM the right way at their organizations.

Part One. Essentials of Enterprise Risk Management

1. Modern Risk Management

RUSSIAN FROZEN-CHICKEN CASE

2. Scope of ERM

3. Contributions of ERM

HOME DEPOT CASE

4. Challenge of the Black Swan

5. Challenge of the 2008 Financial Crisis

6. Implementing ERM

Part Two. ERM Technology

7. Visual Risk Clusters

AIG VISUAL RISK CLUSTER CASE

8. Visual Risk—A Hypothetical Case

9. Tagging Risk—An Example

10. Airbus A380 Jumbo Jet

11. Product Launch Application

Part Three. Risks Without Risk Owners

12. Strategic Risk

TAIWAN STRATEGIC RISK CASE

13. Subculture Risk

Appendix 13.A—Characteristics to Use in Identifying

Subcultures

SUBCULTURE RISK AND HIGH SCHOOL CASE

14. Leadership Risk

IKEA---BEST PRACTICES IN LEADERSHIP RISK CASE

15. Life Cycle Risk

GM AND TOYOTA LIFE CYCLE RISK CASE

16. Horizon Risk

Part Four. ERM Stories

17. Aligning Risk Categories with the Business Model

18. Avoiding Business Disruption

19. ERM and Sarbanes-Oxley

20. Coffee Mug, Candy, Exotic Jams, and Toyota

21. ERM and Swarm Theory

22. Cerberus and Chrysler

23. Risk Management and the History of ERM

24. Evolving ERM Since 2004

25. Risk Management and the Future of ERM

Part Five. The People of Risk Management

26. Modern Risk Managers

27. Chief Risk and Strategy Officers

28. Risk Managers in Person

29. Central Risk Management Committee

BEAUMONT CENTRAL RMC LEADER CASE

John J. Hampton (Litchfield, CT) is the KPMG Professor of Business and Director of Graduate Business Programs at St. Peter’s College, and former Executive Director of the Risk and Insurance Management Society (RIMS).