Enterprise-wide Risk Management

Description

The ability to master risk and manage the inevitable uncertainty associated with evaluating future outcomes is a key to sustainable competitive advantage. Traditional risk management approaches are no longer adequate in today's rapidly changing world in which the rules of wealth creation and preservation are ever evolving. They are too fragmented and function-driven. A new approach is needed - one that is cross-functional, integrated and adaptable in the face of constant change. Enterprise-wide risk management (EWRM) is a new strategic process which enables you to identify, measure and manage the entire range of business opportunities and risks facing your organisation. This value-generating process provides you with the discipline and tools to master risk as your organisation creates value.

Enterprise-wide Risk Management guides you through the key stages of designing and implementing an integrated EWRM process in your organisation. Written by risk consultant James DeLoach, it is centred on the Business Risk Model(tm) he has developed. It provides insight into the risk management practices of over 60 leading companies through in-depth interviews with their senior executives so you can learn from their experiences. This briefing facilitates the management of risk in a world of uncertainty so that you can capitalise on opportunities, risk and growth with confidence.

• Diageo/Guinness
• Holderbank
• MarineMax
• Cable & Wireless
• Hydro-Quebec
• Charles Schwab
• Eidos
• Cadbury-Schweppes
• Post Office

Contents include:

• A New and Evolving Approach to Improving Risk Management Capabilities
• Mastering Risk to Create Value - What is an Enterprise-Wide Approach and Why is It Essential?
• The Evolution Towards EWRM
• A Common Language - The Essential Starting Point
• Risk Management Goals, Objectives, and Oversight - Laying the Foundation
• Uniform Processes - Assessing Risks and Developing Strategies
• Infrastructure Essentials - Designing and Implementing Risk Management Capabilities
• Continuously Improve Risk Strategies, Processes and Measures
• Taking It All the Way
• Getting Started

Contents

Preface: a new and evolving approach to improving risk management capabilities

Acknowledgements

Mastering risk to create value: what is an enterprise-wide approach and why is it essential?

• A new approach: enterprise-wide
• Is your risk management keeping pace?
• The early lessons
• Conclusion: a journey requiring a cultural change

• The evolution of risk management
• Taking an enterprise wide view
• Achieving EWRM: the steps along a visionary journey
• How far will you go?
• Conclusion

• Defining risk
• A language for risk
• A process classification scheme
• Developing a language
• Conclusion
• Case-studies

• Business objectives and strategies provide the context
• Risk strategy and policy in an EWERM environment
• Organizational oversight structure
• Summary
• Case-study

• A process view of business risk management
• Assessing business risks
• Risk mapping - a fundamental tool
• Rigorous assessment: when risks are vital
• Develop business risk management strategies
• Risk strategies: translating risk assessment into action
• Summary

• Design/implement risk management capabilities
• The components of infrastructure
• Monitor risk management performance
• Continuously improve risk management capabilities
• Information for decision making
• Summary

• Case-study

• The Risk Management Capability Maturity Continuum
• The enablers of continuous improvement
• Summary
• Case-study

• Aggregate multiple risk measures
• Link to enterprise performance
• Formulate enterprise-wide risk strategy
• Summary
• Case-study

• The EWRM journey: how far do you want to go?
• Keys to navigating the journey
• Keys to getting started: EWRM trail markers
• The launch pad
• Summary

• The current state of risk management
• The Arthur Andersen Business Risk ModelTM: abbreviated defenitions of business risks
• Risk controls process framework

Author

James W.DeLoach is a Partner of Arthur Andersen who has been with the firm for over 29 years. He has extensive risk consulting experience in a wide variety of industries and engagements. In his current capacity as the Global Leader of the firm’s Business Risk Management Competency Development Center, he works closely with insurance, risk consulting and industry professionals to develop the firm’s business risk management competencies. He is co-author of Managing business risk: An integrated approach, published by the Economist Intelligence Unit in 1995, and of several articles covering various aspects of business risk assessment and management. He has delivered numerous presentations on risk management to many companies and groups and has taught senior and graduate level courses at two major universities on a variety of topics over the years. Mr DeLoach is a sport enthusiast and an accomplished magical entertainer. He resides in Houston, Texas with his wife.