{"product_id":"corporate-value-of-enterprise-risk-management-isbn-9780470882542","title":"Corporate Value of Enterprise Risk Management","description":"\u003cp\u003e\u003cb\u003eThe ultimate guide to maximizing shareholder value through ERM\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe first book to introduce an emerging approach synthesizing ERM and value-based management, \u003ci\u003eCorporate Value of Enterprise Risk Management\u003c\/i\u003e clarifies ERM as a strategic business management approach that enhances strategic planning and other decision-making processes.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eA hot topic in the wake of a series of corporate scandals as well as the financial crisis\u003c\/li\u003e \u003cli\u003eLooks at ERM as a way to deliver on the promise of balancing risk and return\u003c\/li\u003e \u003cli\u003eA practical guide for corporate Chief Risk Officers (CROs) and other business professionals seeking to successfully implement ERM\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eERM is here to stay. Sharing his unique insights and experiences as a recognized global thought leader in this field, author Sim Segal offers world-class guidance on how your business can successfully implement ERM to protect and increase shareholder value.\u003c\/p\u003e \u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I: Basic ERM infrastructure\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Introduction 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEvolution of ERM 4\u003c\/p\u003e \u003cp\u003eBasel Accords 4\u003c\/p\u003e \u003cp\u003eSeptember 11th 5\u003c\/p\u003e \u003cp\u003eCorporate Accounting Fraud 7\u003c\/p\u003e \u003cp\u003eHurricane Katrina 9\u003c\/p\u003e \u003cp\u003eRating Agency Scrutiny 10\u003c\/p\u003e \u003cp\u003eFinancial Crisis 11\u003c\/p\u003e \u003cp\u003eRare Events 13\u003c\/p\u003e \u003cp\u003eLong-Term Trends 14\u003c\/p\u003e \u003cp\u003eChallenges to ERM 15\u003c\/p\u003e \u003cp\u003eSummary 16\u003c\/p\u003e \u003cp\u003eNotes 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Defining ERM 18\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefinition of Risk 18\u003c\/p\u003e \u003cp\u003eDefinition of ERM 24\u003c\/p\u003e \u003cp\u003eSummary 58\u003c\/p\u003e \u003cp\u003eNotes 59\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: ERM Framework 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValue-Based ERM Framework 63\u003c\/p\u003e \u003cp\u003eChallenges of Traditional ERM Frameworks 63\u003c\/p\u003e \u003cp\u003eValue-Based ERM Framework 65\u003c\/p\u003e \u003cp\u003eOvercoming the Challenges by Using a Value-Based\u003c\/p\u003e \u003cp\u003eERM Framework 83\u003c\/p\u003e \u003cp\u003eSummary 109\u003c\/p\u003e \u003cp\u003eNotes 110\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II: ERM Process Cycle\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Risk Identification 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eComponents of Risk Identification 113\u003c\/p\u003e \u003cp\u003eFive Keys to Successful Risk Identification 114\u003c\/p\u003e \u003cp\u003eRisk Categorization and Definition 114\u003c\/p\u003e \u003cp\u003eQualitative Risk Assessment 129\u003c\/p\u003e \u003cp\u003eEmerging Risk Identification 153\u003c\/p\u003e \u003cp\u003eKiller Risks 155\u003c\/p\u003e \u003cp\u003eSummary 166\u003c\/p\u003e \u003cp\u003eNotes 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Risk Quantification 168\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePractical Modeling 169\u003c\/p\u003e \u003cp\u003eComponents of Risk Quantification 174\u003c\/p\u003e \u003cp\u003eCalculate Baseline Company Value 174\u003c\/p\u003e \u003cp\u003eQuantify Individual Risk Exposures 185\u003c\/p\u003e \u003cp\u003eQuantify Enterprise Risk Exposure 207\u003c\/p\u003e \u003cp\u003eSummary 223\u003c\/p\u003e \u003cp\u003eNotes 224\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Risk Decision Making 226\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Risk Appetite and Risk Limits 227\u003c\/p\u003e \u003cp\u003eIntegrating ERM into Decision Making 239\u003c\/p\u003e \u003cp\u003eSummary 269\u003c\/p\u003e \u003cp\u003eNotes 270\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Risk Messaging 271\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInternal Risk Messaging 271\u003c\/p\u003e \u003cp\u003eExternal Risk Messaging 280\u003c\/p\u003e \u003cp\u003eSummary 292\u003c\/p\u003e \u003cp\u003eNotes 293\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III: Risk Governance And Other Topics\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Risk Governance 297\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFocusing on Common Themes 298\u003c\/p\u003e \u003cp\u003eComponents of Risk Governance 298\u003c\/p\u003e \u003cp\u003eRoles and Responsibilities 298\u003c\/p\u003e \u003cp\u003eOrganizational Structure 319\u003c\/p\u003e \u003cp\u003ePolicies and Procedures 325\u003c\/p\u003e \u003cp\u003eSummary 327\u003c\/p\u003e \u003cp\u003eNotes 327\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Financial Crisis Case Study 329\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSummary of the Financial Crisis 330\u003c\/p\u003e \u003cp\u003eEvaluating Bank Risk Management Practices 332\u003c\/p\u003e \u003cp\u003eSummary 342\u003c\/p\u003e \u003cp\u003eNotes 343\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: ERM for Non-Corporate Entities 344\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGeneralizing the Value-Based ERM Approach 344\u003c\/p\u003e \u003cp\u003eComplexities of Objectives-Based ERM 350\u003c\/p\u003e \u003cp\u003eExamples of NCEs 351\u003c\/p\u003e \u003cp\u003eSummary 369\u003c\/p\u003e \u003cp\u003eConclusion 369\u003c\/p\u003e \u003cp\u003eNotes 369\u003c\/p\u003e \u003cp\u003eGlossary 371\u003c\/p\u003e \u003cp\u003eAbout the Author 389\u003c\/p\u003e \u003cp\u003eIndex 391\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSIM SEGAL, FSA, CERA,\u003c\/b\u003e is President and founder of SimErgy Consulting, which provides ERM consulting services and executive education seminars. With twenty- five years of experience in measuring and managing risk, Segal is a globally‑recognized ERM thought leader with experience in a variety of industry sectors, such as manufacturing, energy, entertainment, technology, services, telecommunications, banking, insurance, non-profit organizations, and government bodies. Prior to SimErgy, he led ERM consulting practices at Deloitte Consulting, Aon, and Towers Watson. Segal also serves as an adjunct professor at Columbia Business School, where he teaches an MBA\/EMBA course on ERM. He has also led and co‑authored ERM research studies. \u003c\/p\u003e  \u003cp\u003e\u003cb\u003eCorporate Value of ENTERPRISE RISK MANAGEMENT \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Next Step in Business Management\u003c\/p\u003e \u003cp\u003eWhile enterprise risk management (ERM) programs have a great deal of potential, traditional ERM approaches often struggle to generate sufficient buy-in from internal stakeholders. \u003ci\u003eCorporate Value of Enterprise Risk Management\u003c\/i\u003e responds to this challenge with a value-based ERM approach that transforms ERM into a strategic management process that enhances strategic planning and other business decision making.\u003c\/p\u003e \u003cp\u003eDemystifying the complex and wide-ranging topic of ERM, this practical guide is informed by the author's twenty-five years of professional experience in this arena and introduces 10 key ERM criteria as a foundational element to evaluate the robustness of any ERM program.\u003c\/p\u003e \u003cp\u003eFilled with case studies illustrating key elements of the value-based ERM approach, this insightful book reveals:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eSecrets to quantifying all types of risks, whether strategic, operational, or financial\u003c\/li\u003e \u003cli\u003eWhat risk appetite is, how to clearly define it, and how to quantify it for use in the risk governance process\u003c\/li\u003e \u003cli\u003eHow to integrate ERM information into decision-making processes\u003c\/li\u003e \u003cli\u003eTechniques to avoid the five common mistakes in risk identification\u003c\/li\u003e \u003cli\u003eHow to apply ERM to nonprofit organizations, government bodies, and individuals\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eDisastrous events both man-made and natural, as well as pressures from shareholders, bondholders, directors, rating agencies, and regulators have raised management’s awareness of the need for an integrated approach to managing risk. With an important chapter evaluating bank risk management practices in light of the financial crisis that began in the United States in 2007, \u003ci\u003eCorporate Value of Enterprise Risk Management\u003c\/i\u003e provides timely direction for the risks your organization faces.\u003c\/p\u003e \u003cp\u003e\u003ci\u003e\u003cb\u003ePraise for\u003c\/b\u003e\u003c\/i\u003e Corporate Value of ENTERPRISE RISK MANAGEMENT \u003c\/p\u003e \u003cp\u003eThe Next Step in Business Management \u003c\/p\u003e\u003cp\u003e“I have read nearly every book related to this topic, and I heartily recommend this one. This could well be the only ERM book you will ever need.”\u003cbr\u003e\u003cb\u003e—Dave Ingram, CERA Senior Vice President, Willis Re Former leader of Standard \u0026amp; Poor’s insurance ERM evaluations\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e “An excellent book on ERM! This book is highly accessible to a wide range of professionals, from technical personnel to senior executives to board members. Its principles-based approach and excellent real-world examples make it a highly practical guide for those who want to understand ERM without getting lost in technical jargon.”\u003cbr\u003e\u003cb\u003e—Adam Litke Chief Risk Strategist, Bloomberg\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e “Finally, a comprehensive guide to implementing ERM. This book offers an advanced but practical solution to successfully implementing ERM based on a disciplined, measured approach. In my nearly two decades as a board member, chief risk officer, and chief audit executive, I’ve been presented with many risk management frameworks, but this is the best I have seen.”\u003cbr\u003e\u003cb\u003e—Leslie Bauer, CPA Vice President and Chief Risk Officer, ARC\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e “A firm’s value is based on its risk-adjusted return. The traditional focus on return (P\u0026amp;L) addresses only half the picture, at best; ERM completes it. Segal, one of the world’s leading authorities on managing risk, provides a comprehensive and practical guide to ERM strategy and implementation. It is essential reading for anyone concerned with managing risk and return.”\u003cbr\u003e\u003cb\u003e—Garrett Van Ryzin, PhD, SM, BSEE Chair of Decision, Risk, and Operations Division Columbia Business School\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e “Segal’s value-based ERM approach gives readers a truly integrated road map for risk management. It employs practical and holistic techniques for improving how risk and return are considered, evaluated, and managed in business decision making, from day‑to‑day decisions to strategic planning.”\u003cbr\u003e\u003cb\u003e—Rob Pollock, FSA President and Chief Executive Officer, Assurant \u003c\/b\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988994605285,"sku":"NP9780470882542","price":129.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470882542.jpg?v=1761782355","url":"https:\/\/k12savings.com\/es\/products\/corporate-value-of-enterprise-risk-management-isbn-9780470882542","provider":"K12savings","version":"1.0","type":"link"}