Implementing Enterprise Risk Management: From Methods to Applications (Wiley Finance) - Hardcover

Lam, James

Hardcover

ISBN 10: 0471745197 ISBN 13: 9780471745198

Publisher: Wiley, 2017

Synopsis

A practical, real-world guide for implementing enterprise risk management (ERM) programs into your organization

Enterprise risk management (ERM) is a complex yet critical issue that all companies must deal with in the twenty-first century. Failure to properly manage risk continues to plague corporations around the world. ERM empowers risk professionals to balance risks with rewards and balance people with processes.

But to master the numerous aspects of enterprise risk management, you must integrate it into the culture and operations of the business. No one knows this better than risk management expert James Lam, and now, with Implementing Enterprise Risk Management: From Methods to Applications, he distills more than thirty years' worth of experience in the field to give risk professionals a clear understanding of how to implement an enterprise risk management program for every business.

• Offers valuable insights on solving real-world business problems using ERM
• Effectively addresses how to develop specific ERM tools
• Contains a significant number of case studies to help with practical implementation of an ERM program

While Enterprise Risk Management: From Incentives to Controls, Second Edition focuses on the "what" of ERM, Implementing Enterprise Risk Management: From Methods to Applications will help you focus on the "how." Together, these two resources can help you meet the enterprise-wide risk management challenge head on―and succeed.

About this title

About the Author

JAMES LAM is president of James Lam & Associates, a risk management consulting firm. He serves on the board of directors of E*TRADE Financial and chairs the Risk Oversight Committee. An NACD Board Leadership Fellow, he is author of the bestselling risk management title, Enterprise Risk Management.

From the Back Cover

Praise for Implementing Enterprise Risk Management

"James Lam provides a strong case that ERM should be a continuous process that is aligned with the strategy and risks of the organization. He offers detailed and practical information on how to structure a robust, dynamic process that stays closely attuned to business risks and how to ensure that ERM fulfills the expectations of all stakeholders."
Ann C. Berzin, Board Member of Exelon Corporation, Ingersoll-Rand plc

"In these times of rapid change and business model disruption, ERM must go beyond regulatory checklists and compliance. Effective implementation of ERM informs business strategy and can lead to breakthrough value creation. James Lam makes a compelling argument that boards have both a strategic and a fiduciary responsibility to ensure that a strong ERM program is in place, and gives wise and practical guidance on how to do so."
Irene Chang Britt, Board Member of Dunkin' Brands, Tailored Brands, TerraVia; CEO, ICB Enterprises, LLC

"In a world of heightened expectations from investors, regulators, and the public, this book is a must read for corporate directors and executives on the keys to effective risk oversight and how to successfully integrate it into corporate strategy."
Robert H. Herz, Board Member of Fannie Mae, Morgan Stanley, Workiva; Former Chairman of the Financial Accounting Standards Board (2002-2010)

"Well, it should be crystal clear from reading this latest book why James Lam was invited to be on the COSO Advisory Committee to revise the 2004 ERM framework. He's a true thought leader and luminary, helping us all to make progress on the ERM journey to higher performance."
Robert B. Hirth, Jr., Chairman, Committee of Sponsoring Organizations of the Treadway Commission (COSO); Senior Managing Director, Protiviti

"A terrific compendium of practical approaches and case studies for implementing an effective ERM framework. James Lam's advocacy of performance feedback loops provides an important innovation to adaptive risk management programs. This book also highlights the increasingly critical role of Chief Risk Officers in defining strategy for companies that adhere to a clearly articulated risk appetite statement."
Bradford Hu, Chief Risk Officer, Citigroup

From the Inside Flap

As the speed at which companies do business all over the world increases, so does the velocity of existential risks. Still, even risk professionals with exemplary knowledge will not be successful unless they can effectively put their ideas into practice Implementing Enterprise Risk Management turns their expertise into business value.

Picking up where Enterprise Risk Management leaves off, pioneering risk management authority James Lam distills his more than thirty years of experience at the highest levels of business into a clear, focused approach to integrating an enterprise risk management (ERM) program into any company. His innovative performance-based continuous model for ERM is specifically designed to tackle the global risks facing today's organizations in such areas as strategic risk management and cyber security.

Getting an ERM system up and running is a complex, multi-year effort, and this complete blueprint ensures everything is on track at the very start, from outlining the scope and goals of an ERM initiative through using the accurate and insightful metrics, reports, and feedback loops critical to maintaining program effectiveness. Revealing case studies and examples demonstrate how to implement an ERM program in two years, integrate risk into business decisions, create a cyber security risk appetite statement and metrics, structure a concise report from the Chief Risk Officer to the risk committee, and more. Keep this versatile book at your fingertips for everyday guidance on:

• Overcoming common execution issues and cultural barriers to proficiently implement a sophisticated ERM program
• Using an exclusive customized model of tiered defenses to clearly define the role of the board, corporate management, and operating units
• Developing and applying state-of-the-art ERM processes and tools to make more- informed business decisions and create value
• Enhancing the risk culture of the organization by aligning performance measurement and incentives
• Incorporating the opportunity side of risk in maximizing risk-adjusted profitability

Find the optimal balance of risks and rewards with Implementing Enterprise Risk Management.

Edition details

• Publisher: Wiley
• Publication date: 2017
• Language: English
• ISBN 10: 0471745197
• ISBN 13: 9780471745198
• Binding: Hardcover
• Edition number: 1
• Number of pages: 432