If you want to understand enterprise risk management (ERM) from some of the leading academics and practitioners of this exciting new methodology, Enterprise Risk Management--part of the Robert W. Kolb Series in Finance--is the book for you. Through in-depth insights into what practitioners of this evolving business practice are actually doing as well as anticipating what needs to be taught on the topic, John Fraser and Betty Simkins have sought out the leading experts in this field to clearly explain what enterprise risk management is and how you can teach, learn, and implement these leading practices within the context of your business activities. With this book, the authors take a broad view of risk management, or what is generally called a holistic approach to ERM.
Enterprise Risk Management introduces you to a wide range of concepts and techniques for managing risk in a holistic way that correctly identifies risks and prioritizes the appropriate responses. This invaluable guide offers a broad overview of the different techniques: the role of the board, risk tolerances, risk profiles, risk workshops, and allocation of resources, while focusing on the principles that determine business success.
This comprehensive resource also provides a thorough introduction to enterprise risk management as it relates to credit, market, and operational risk, as well as the evolving requirements of the rating agencies and their importance to overall risk management in a corporate setting. Filled with helpful exhibits and examples, Enterprise Risk Management offers a wealth of knowledge on the drivers, techniques, and benefits involved in successfully implementing enterprise risk management. Chapter by chapter, this book:
Discusses the history of risk management and more recently developed enterprise risk management practices, and how you can prudently implement these techniques within the context of your underlying business activities
Provides coverage of topics such as the role of the chief risk officer, the use of anonymous voting technology, and risk indicators and their role in risk management
Explores the culture and practices of enterprise risk management without getting bogged down by the mathematics surrounding the more conventional approaches to financial risk management
This informative guide will put the evolving methodology of enterprise risk management--which has been described as a proxy for good management--in perspective and help you unlock its incredible potential.
Enterprise Risk Management
The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, Enterprise Risk Management introduces you to the essential concepts and techniques associated with this dynamic field. It provides a blend of academic and practical experience in order to educate both professionals and students alike.
Filled with in-depth insights and expert advice, this reliable resource offers holistic coverage of ERM and, in the process, addresses the what, why, and how of ERM to assist firms with its successful implementation.
Divided into six comprehensive parts, Enterprise Risk Management:
Offers a broad overview of risk tolerance, risk profiles, and allocation of resources
Provides a thorough introduction to ERM as it relates to credit, market, and operational risk
Examines the evolving requirements of the rating agencies and their importance to overall risk management in a corporate setting
Discusses the drivers, techniques, and benefits involved in successfully implementing enterprise risk management
And much more
With this book as your guide, you'll gain a firm understanding of the issues surrounding ERM and what it will take to make it work for you.