The Executive Guide to Enterprise Risk Management [electronic resource] : Linking Strategy, Risk and Value Creation /
Chappell, C.author.
An executive level guide to implementing or extending an enterprise risk management (ERM) framework in an organization. Avoiding complex modeling topics, and unnecessary theory, this book cuts to the heart of the topic, describing what ERM is, why it is important, what constitutes ERM and how it can be implemented to add value to an organization.
Description based upon print version of record.
Cover; Half-Title; Title; Copyright; Dedication; Contents; List of Figures; List of Tables; Preface; 1 Introduction; 2 Defining Enterprise Risk Management; 3 Developing a Business Strategy; 3.1 Components of the business strategy; 3.2 The profit strategy; 3.3 The risk strategy; 3.4 The capital strategy; 4 Performance Measurement; 4.1 Context; 4.2 Performance measurement - return; 4.3 Performance measurement - risk appetite; 5 Stress and Scenario Testing; 5.1 Questions for the Board; 5.2 What is stress and scenario testing?; 5.3 Types of stress and scenario testing
5.4 How do we extract value from stress and scenario testing?5.5 Looking for opportunities; 6 Operationalising the Management of Solvency and Capital; 6.1 Operationalising solvency management; 6.2 Operationalising economic capital management; 6.3 Allocating economic capital to business units; 6.4 Establishing the economic capital management corridors (risk limits and tolerances); 7 Risk and Capital Modelling; 7.1 Background; 7.2 What are we trying to model and how can we challenge it?; 8 Structuring the Use of Risk Information; 8.1 Risk registers; 8.2 Structuring risk thinking; 9 Risk Culture
9.1 Questions for the Board9.2 Background to risk culture; 9.3 Defining risk culture; 9.4 Influencing the development of the risk culture; 9.5 Evolving the right culture; 9.6 Signals of weakness and strength in culture; 9.7 Monitoring the risk culture; 10 The Board and the New Chief Risk Officer; 10.1 Role of the Board in risk management; 10.2 Role of the chief executive in risk management; 10.3 The chief risk officer (CRO); Appendices; Appendix A Three Lines of Defence Operating Model; Appendix B Framework for Developing Risk Strategy Statements
Appendix C Pragmatic Approach to Filtering Stress and ScenariosAppendix D Supporting Challenge in the ALM Committee; Appendix E Example of a risk register report template; Notes; Index
An executive level guide to implementing or extending an enterprise risk management (ERM) framework in an organization. Avoiding complex modeling topics, and unnecessary theory, this book cuts to the heart of the topic, describing what ERM is, why it is important, what constitutes ERM and how it can be implemented to add value to an organization.
Business enterprises—Finance.
Leadership.
Risk management.
Corporations—Finance.
Investment banking.
Securities.
Management.
Business Finance.
Business Strategy/Leadership.
Risk Management.
Corporate Finance.
Investments and Securities.
Management.