Enterprise Risk Management: A Manager's Journey - Hardcover

Pickett, K. H. Spencer

9780471745297: Enterprise Risk Management: A Manager's Journey

Hardcover

ISBN 10: 0471745294 ISBN 13: 9780471745297

Publisher: Wiley, 2006

A bona fide "novel" approach to successful ERM implementation
With the release of the new COSO ERM guidelines, many managers are being asked to implement Enterprise Risk Management (ERM) with very little understanding of the full implications for their business and customers. In Enterprise Risk Management, you'll learn the A-to-Zs of ERM by walking in the shoes of Bill Reynolds as he goes from zero understanding of ERM to becoming fully versed in what ERM is, what it can do for his company, and how to successfully implement it within his organization. Through Bill's enlightening business trip to London, you will discover how to manage risk across all parts of your business.

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From the Inside Flap:

A Manager in Crisis: The ERM Assignment

Bill Reynolds really made a name for himself at his company after reinventing their internal control systems. As he basks in his recent promotion to Head of Corporate Planning, his CEO has a new challenge in store for him: find out everything he can about ERM and present his findings to the board within three weeks' time. Bill doesn't want to look like an idiot—not with the ink still wet on his new business cards—but he has to ask: what is ERM?

Following on the heels of its successful predecessor Internal Control, this sequel follows Bill, Jack, Helen, and Maria to London where they attend a seminar on Enterprise Risk Management (ERM) and learn not only what ERM is, but also how it can be best applied to any organization. Through Bill's latest journey, you'll discover what ERM is; how it must function as an initiative made by the board and through management; and why the board, CEO, and senior executives must be the stewards responsible for ERM.

In Enterprise Risk Management, you'll learn how to:

Develop a risk model that makes sense to the way your organization operates
Discover ways of sharing risks between partners and key players
Build a good understanding of risk and risk appetites within the entire organization
Educate the board, top managers, and all employees about their responsibilities to manage risk properly
Review all corporate systems, processes, and decision points so as to build risk assessment into and inside all parts of your business systems
Encourage risk-smart thinking across your entire workforce
Make sure your people are able to communicate what they have done to improve their controls and why
Keep up the momentum through defined ERM maturity targets and build on success and learn quickly from any failures

In addition to the unique and engaging narrative, the book also includes diagrams and checklists in a "how-to" format to help you develop a good ERM process. There are valuable examples, illustrations, and helpful advice that can be adapted and adopted to a variety of organizations.

A must-read for CFOs, CEOs, auditors, controllers, and operations managers, Enterprise Risk Management provides key techniques for implementing ERM into everyday work and across your entire organization.

About the Author:

K. H. SPENCER PICKETT is responsible for the internal auditing training programme at the National School of Government in Berkshire, England, and is the author of ten books on auditing and related topics.

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