Enterprise Risk Management

Essential insights on the various aspects of enterprise risk management

If you want to understand enterprise risk management from some of the leading academics and practitioners of this exciting new methodology, Enterprise Risk Management 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. In this book, the authors take a broad view of ERM, or what is called a holistic approach to ERM.

Enterprise Risk Management introduces you to the 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 types of 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 the overall risk management in a corporate setting. Filled with helpful tables and charts, Enterprise Risk Management offers a wealth of knowledge on the drivers, the techniques, the benefits, as well as the pitfalls to avoid, in successfully implementing enterprise risk management.

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 help you unlock the incredible potential of enterprise risk management, which has been described as a proxy for good management.

Customer Reviews:

Major Contribution in a vital area of organizational behaviour

By Michael F. Murphy - July 12, 2010

A new book on Enterprise Risk Management (ERM) has arrived in a rapidly filling field. What should we make of it? Is it a threat (i.e. does it only muddy the already turbulent waters after putting a charge on our wallets and bookshelves) or is it an opportunity (i.e. something that is good for the growth of the discipline and its practitioners)? Is it minor league, major league or world champion?

Quantitatively, it has two editors, Betty J. Simkins, a US business and finance academic, and John Fraser, a Canadian senior executive practitioner. It runs 577 pages which includes a comprehensive index and contains 26 chapters, written by 30 contributors and several panellists. It is divided into six parts (Overview; ERM Management, Culture and Control; ERM Tools and Techniques; Types of Risk; Survey Evidence and Academic Research; Special Topics and Case Studies) and features a convenient chapter format comprising of an argument, conclusions, notes and references... read more

An all star summation of leading ERM practices/guidance

By Arnold Schanfield - July 7, 2010

This book authored by John Fraser and Betty Simkins is simply fantastic and what a wonderful contribution to the discipline of enterprise risk management.
The two prime authors- Fraser and Simkins have attracted an all star cast of leading academics/practitioners, each whom wrote one chapter in this book.

This book has special importance because it is my belief that there is complete chaos/bedlam in this country especially as far as having succinct risk management practices in place. We are all over the map in terms of existing practices and the 30 or so professional organizations out there all touting their expertise in risk management have created confusion.

This book addresses this dilemma head on as it provides a plethora of best in class guidance from a discussion of the new ISO framework on Risk Management by John Shortreed- Chapter 7, to the chapter authored by Felix Kloman on the History of Risk Management/Evolution of the profession to the Chapters... read more

Dean Anthony R. Davidson, PhD

By lekuchos - July 1, 2010

If you REALLY want to understand the evolution of ERM and where we need to get to, then this is the book for you. WARNING! It's NOT a guide to implementation. What you can take away most from this book is a comprehensive understanding of the culture and nature of risk and how it needs to be managed in today's economic climate. The contributing authors are all experts and the editors do a masterful job of synthesizing the knowledge into an easy read. Parts of the book might be too sophisticated for the novice but there are still many chapters that will appeal to them. Chapters 1 through 7 come to mind and I view chapters 6 and 7 as being real standouts. What's useful is that none of the material is too simplistic even for the experts among us. Whether you are deep into risk or just recognize the need to be part of a current risk management culture in your organization this is a definite winner.