Enterprise Risk Management - Straight to the Point: An Implementation Guide Function by Function: Second Edition

This second edition of the book describes a practical ERM approach for businesses and their Board of Directors to use in determining and addressing the risks which may affect the achievement of their strategies and goals. It clearly explains the steps necessary to implement an effective ERM process. Using real world risk examples, it offers a unique methodology for identifying and prioritizing risks across business functions. The book also includes tools, sample reports, and a case study that ties everything together. The link between ERM and the strategy is emphasized.

This book is a concise tool for chief risk officers (CROs), functional executives, business owners or anyone in a leadership position who plays a role in managing risk. CROs can share it with their risk committees and colleagues so all are working from a common understanding. As one reviewer stated” Straight to the Point should be shared with all functional department managers and process owners as they collaborate in identifying and mitigating risks that could preclude the success of corporate strategies. The authors’ use of a case study to illustrate their approach is an excellent practical guide for management teams implementing a results focused enterprise risk management versus just "checking the box."

Academicians have found it to be a great primer for risk management and insurance students as well.

Contents:

Part I – ERM Guide Points: Guide Points to consider when developing an effective ERM process plan, including selling the concept, tying ERM to strategy, and democratizing management of enterprise risks. Also includes how to set risk appetite statements, risk tolerances, KRIs and KPIs.
Part II – ERM Process Points: Process points to consider when identifying and mitigating risk from practical business perspectives. Also includes effective monitoring and reporting examples.
Part III – ERM Function by Function: Describes five major business functions that are common to most organizations and the typical risks each may be faced with, with the emphasis that risks can be strategic, operational, financial, reputational, etc.
Part IV – Case Study: A real world based case study that follows the methods described in this book and ties it all together.