{"product_id":"empowered-enterprise-risk-management-isbn-9781119700159","title":"Empowered Enterprise Risk Management","description":"\u003cp\u003eIn this book, two experts on the topic raise the question of why many ERM programmes end up as box-checking silos with almost no connection to important decision-making processes, whereas others are empowered and end up having a profound impact on the firm’s culture, governance structures, and strategy process. The book establishes a path to empowered ERM by drawing on insights from theory and hard-won lessons from practice. Success factors enabling this transition are thoroughly discussed in a start-to-finish narrative describing the theoretical underpinnings of ERM, its proven best practices, and onto more advanced topic such as risk budgeting and the integration of ERM into strategic decision-making.\u003c\/p\u003e \u003cp\u003ePreface ix\u003c\/p\u003e \u003cp\u003eChapter 1: Introduction to Empowered Enterprise Risk Management 1\u003c\/p\u003e \u003cp\u003eChapter 2: Risk Defined 12\u003c\/p\u003e \u003cp\u003eChapter 3: Risk Theory 29\u003c\/p\u003e \u003cp\u003eChapter 4: Risk Culture 46\u003c\/p\u003e \u003cp\u003eChapter 5: Risk Governance 60\u003c\/p\u003e \u003cp\u003eChapter 6: Risk Register 78\u003c\/p\u003e \u003cp\u003eChapter 7: Risk Response 95\u003c\/p\u003e \u003cp\u003eChapter 8: Risk Appetite 116\u003c\/p\u003e \u003cp\u003eChapter 9: Risk Budgeting 132\u003c\/p\u003e \u003cp\u003eChapter 10: Risk Strategy 148\u003c\/p\u003e \u003cp\u003eChapter 11: Risk in Practice: The Case of Equinor 166\u003c\/p\u003e \u003cp\u003eChapter 12: Concluding Remarks 191\u003c\/p\u003e \u003cp\u003eBibliography 199\u003c\/p\u003e \u003cp\u003eAcknowledgements 203\u003c\/p\u003e \u003cp\u003eIndex 205\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eHåkan Jankensgård\u003c\/b\u003e is Associate Professor in Corporate Finance at Lund University where he teaches two courses (Corporate Valuation and Corporate Risk Management) on the master's program in Finance. Prior to entering academia, Håkan was corporate risk manager at Norsk Hydro with responsibility for developing their risk management program and risk model. He has published research on risk management in distinguished journals such as the \u003ci\u003eJournal of Banking \u0026amp; Finance\u003c\/i\u003e and \u003ci\u003eFinancial Management\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePetter Kapstad\u003c\/b\u003e was responsible for building up Equinor's Enterprise Risk Management, which he headed for 14 years. At that time, Equinor's ERM included insurance, credit, operational risk, strategic risks and market risks. He had 18 years' experience from the trading environment in commercial banks prior to joining Equinor and has been an advisor to several international companies, boards and board members in building their ERM.   \u003c\/p\u003e\u003cp\u003eSurveys reveal that most corporations devote considerable resources to risk management. However, while the multiple benefits of enterprise risk management (ERM) are evident, many executives remain unsure how to approach it. Written by two experts on the topic, \u003ci\u003eEmpowered Enterprise Risk Management\u003c\/i\u003e offers organisations a set of tools for implementing the proven holistic risk management practices that will help companies realise fewer unexpected events, improve risk responses and facilitate the elimination of various suboptimal practices associated with the traditional, silo-based approach to risk management. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eEmpowered Enterprise Risk Management\u003c\/i\u003e is a practical book filled with essential information needed to implement an effective ERM program and case studies that highlight each particular aspect or application of managing risk.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePraise for Empowered Enterprise Risk Management\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"The authors have produced a thought-provoking and timely addition to how best to approach risk management. The chapters on budgeting and strategy are especially important and helpful in dealing with this evolving methodology. A valuable resource and an excellent addition to every risk manager's library.\"\u003cbr\u003e \u003cb\u003e —John R.S. Fraser,\u003c\/b\u003e former Chief Risk Officer and Senior Vice President of Internal Audit, Hydro One Inc.; author of \u003ci\u003eImplementing Enterprise Risk Management: Case Studies and Best Practices\u003c\/i\u003e and \u003ci\u003eEnterprise Risk Management: Today's Leading Research and Best Practices for Tomorrow's Executives\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"Jankensgård and Kapstad capture the practical reality and changing dynamics of managing enterprise risk in complex, global ecosystems. \u003ci\u003eEmpowered Enterprise Risk Management\u003c\/i\u003e represents the trifecta of navigating and leveraging risk as a business asset and path to profitability. It provides a fundamental understanding of the theory, the business context through an evolving timeline of risk activities and cases, and practical, modernized advice to transform the management of risk through all organization levels.\"\u003cbr\u003e \u003cb\u003e —Gary S. Lynch,\u003c\/b\u003e CEO and Founder, Risk Project, LLC; author of \u003ci\u003eThe Uncertainty Advantage: Leadership Lessons in Turning Risk Outside-In\u003c\/i\u003e and \u003ci\u003eSingle Point of Failure: The Ten Essential Laws of Supply Chain Risk Management\u003c\/i\u003e; adviser to World Economic Forum and US Department of Commerce; lecturer at Massachusetts Institute of Technology and Stern School of Business, NY \u003c\/p\u003e\u003cp\u003e\"A timely entry into the expanding ERM literature with the right blend of theory and practice. Highly readable and informative without getting bogged down in details which could be accessed by interested readers elsewhere. The theoretical build-up expertly leads to the very relevant case study of one of the earliest practitioners of ERM: Statoil\/Equinor. Readers should pay particular attention to the honest exposé of the history of ERM in the company from its pre-IPO in the late 1990s to the present. I strongly recommend the book to practitioners, students and academics.\"\u003cbr\u003e \u003cb\u003e —Dr. Erol Hakanoglu,\u003c\/b\u003e former Global Head of Enterprise Risk Management, Barclays; former Global Head of Capital Markets Strategies, Goldman, Sachs \u0026amp; Co.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989127282917,"sku":"NP9781119700159","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119700159.jpg?v=1761782905","url":"https:\/\/k12savings.com\/es\/products\/empowered-enterprise-risk-management-isbn-9781119700159","provider":"K12savings","version":"1.0","type":"link"}