Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposures, and Seize Opportunities | by John J. Hampton | 2009 | ISBN: 9780814414927. Governance Driver of ERM. Strategic Risk Management. Modern Risk Managers

December 9, 2009 by kutenk
Filed under: Business Books 

Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposures, and Seize Opportunities

by John J. Hampton
2009 (321 pages)
ISBN:9780814414927

Featuring enlightening case studies and practical exercises, this essential book shows readers how they can implement ERM the right way at their organizations.

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Fundamentals of Enterprise Risk Management—How Top Companies Assess Risk, Manage Exposures, and Seize Opportunities







Foreword
Part One – Essentials of Enterprise Risk Management
Chapter 1 – Modern Risk Management
Overview
Definitions of Risk
Components of Enterprise Risk
Levels of Enterprise Risk
Severity and Frequency
Development of Risk Management
Hazard Risk
Modern Risk Management Perspective
Conclusion

Chapter 2 – Scope of ERM
Overview
ERM Bogs Down
ERM Defined
The Need for ERM
Towers Perrin, Moody’s, and Standard and Poor’s on ERM
Moody’s on ERM
Conclusion

Chapter 3 – Contributions Of ERM
Overview
The Seven Contributions of ERM

Chapter 4 – Challenge Of The Black Swan
Overview
What Is a Black Swan?
Control Over Our Destiny
Risk Prevention
Risk Experts
Understanding Risk
Scalability
Logic and Risk
Perceived Level of Risk
Silent Evidence
Optimism and Pessimism
Conclusion

Chapter 5 – Challenge Of The 2008 Financial Crisis
History of the Crisis
Move into the Housing Market
New Mortgages
New Lending Capital
Scanning for Exposures
Aftermath
Visible Signs of Danger
Impact of the Crisis on ERM




Chapter 6 – Implementing ERM
Governance Driver of ERM
Deloitte Survey on ERM Drivers
Benefits of ERM
ERM Knowledge Warehouse
Answering Questions
Conclusion

Part Two – ERM Technology
Chapter 7 – Visual Risk Clusters
Visual Risk Structure
Visual Cluster Versus Spreadsheets
Generic Visual Risk Cluster
Conclusion
The Start of Problems
Role of Modern ERM

Chapter 8 – Visual Risk— A Hypothetical Case
CP&L Business Model
ERM Project

Chapter 9 – Tagging Risk—An Example
Chapter 10 – Airbus A380 Jumbo Jet
EADS Levels 1 and 2
Airbus View, Levels 2 and 3
A380 View, Levels 3, 4, and 5
Airport Risk, Levels 4 and 5
Available Airports, Levels 5 & 6
Levels 1 to 6 Without Tagging
Levels 1 to 6 with Tagging
Supporting Visual Risks

Chapter 11 – Product Launch Application
Overview
Market Risk
Product Risk
Capital Risk
Factors Affecting Intellectual Property Risk
Risk Profile
Expanding the View



Part Three – Risks Without Risk Owners
Chapter 12 – Strategic Risk
Strategic Risk
Strategic Risk Management
Strategic Risk and Knowledge
Pursuit of Knowledge
Historical Perspective of Strategic Risk
Henry Ford’s Strategic Risk Opportunity
Strategic Risk and Synergy
Strategic Risk and Tools of Knowledge
Strategic Risk and Opportunity Since 1980
Scanning Post-2008
Case in Point—Boeing vs. Airbus
Boeing and Airbus—Market Risks
Conclusion

Chapter 13 – Subculture Risk
Overview
Bureaucracy as a Structure
Understanding Subculture Risk
Charles Handy on Culture
Cultural Control and Effectiveness
Conclusion
Appendix 13.A
Understanding High School Values

Chapter 14 – Leadership Risk
Behavioral Risk
Strategic and Situational Leadership
Situational Leadership Styles
Development Level
Leadership Decision
How Leaders Decide
Conclusion




Chapter 15 – Life Cycle Risk
Overview
Life Cycle Risks
Sharing Life Cycle Risk Information
Life Cycle Stage Focus
Planning Horizons
Growth as a Risk Factor
Risks with Change
Problems Implementing ERM
Funding for ERM
Priority for ERM
Politics of ERM
Conclusion

Chapter 16 – Horizon Risk
Overview
Scanning China
Scanning India
Conclusion

Part Four – ERM Stories
Chapter 17 – Aligning Risk Categories With The Business Model
Nonaligned Risk Categories
Aligned Risk Categories
Conclusion

Chapter 18 – Avoiding Business Disruption
Dell Computer
New ERM Paradigm

Chapter 19 – ERM And Sarbanes-Oxley
Overview
Conclusion on Sarbanes-Oxley

Chapter 20 – Coffee Mug, Candy, Exotic Jams, And Toyota
Overview
Coffee Mug and Candy Story
Exotic Jams Story
Toyota Story
Conclusion

Chapter 21 – ERM And Swarm Theory
Chapter 22 – Cerberus And Chrysler
Overview
Absence of Cultural Risk



Chapter 23 – Risk Management And The History Of ERM
Risk Management Supersedes Insurance
Formation of Captives to Retain Risks
Risk Management Addresses Liability
Decline of Historical Data
Performance Risk Augments Hazard Risk
ERM and Internet Risk
War Risk
Outlaw Environments
Environmental Risks
Conclusion

Chapter 24 – Evolving ERM Since 2004
Overview
Problem #1. Definitions
Problem #2. Risk Categories
Problem #3. Failure to Tell a Good Story
Solutions to Speed the Implementation of ERM
Conclusion

Chapter 25 – Risk Management And The Future Of ERM
Overview
The Horizon in 2009
First Issue: 2009 ERM Auto Crisis
‘‘Normal’’ Value at Risk
Taleb on Normalcy
Conclusion

Part Five – The People of Risk Management
Chapter 26 – Modern Risk Managers
Overview
Risk Manager Roles
Marsh 2007 Update
Marsh 2008 Update
Profiles of Risk Managers
Organizational Risk Management Function
Areas of Attention
Conclusion

Chapter 27 – Chief Risk And Strategy Officers
Chief Risk Officer
Chief Strategy Officer (CSO)
Critical Risks
Authority, Responsibility, Accountability, and Power
CRO Skills and Behavior
Preparedness to Manage Risk
Alternative CRO View
Conclusion

Chapter 28 – Risk Managers In Person
Paul Buckley, Tyco Risk Manager
Chris Mandel, USAA Risk Manager
John Bayeux, Willis Financial Institutions Practice Leader
Lance Ewing, Harrah’s Risk Manager
Roger Egan, Former CEO of Integro and Former President of Marsh
George Niwa, Panasonic Risk Manager
Susan Meltzer, Aviva Risk Manager

Chapter 29 – Central Risk Management Committee
Forming the Committee
Multiple Roles for the Committee
Central Risk Management Committee Reporting Line
Conclusion
Question

Denouement
Bibliography

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