Implementing Enterprise Risk Management : Case Studies and Best Practices.

Intro -- IMPLEMENTING ENTERPRISE RISK MANAGEMENT -- Contents -- Foreword -- 1 Enterprise Risk Management Case Studies: An Introduction and Overview -- The Evolution of Enterprise Risk Management -- Why the Need for a Book with ERM Case Studies? -- Summary of the Book Chapters -- Part I: Overview and Insights for Teaching ERM -- Part II: ERM Implementation at Leading Organizations -- Part III: Linking ERM to Strategy and Strategic Risk Management -- Part IV: Specialized Aspects of Risk Management -- Part V: Mini-Cases on ERM and Risk -- Part VI: Other Case Studies -- Conclusion -- Notes -- References -- About the Editors -- PART 1 Overview and Insights for Teaching ERM -- 2 An Innovative Method to Teaching Enterprise Risk Management: A Learner-Centered Teaching Approach -- Learner-Centered Teaching: The WHY -- Learner-Centered Teaching -- Why LCT? -- Five Key Changes to Practice the WHAT -- The Balance of Power -- The Function of Content -- The Role of the Teacher -- The Responsibility for Learning -- Evaluation Purpose and Process -- Conclusion -- Questions -- Appendix: LCT ERM Examples from the HOW -- Example #1. Chapter : A Brief History of Risk Management -- Example #2. Chapter : ERM and Its Role in Strategic Planning and Strategy Execution -- Example #3. Chapter : Becoming the Lamp Bearer-The Emerging Roles of the Chief Risk Officer -- Example #4. Chapter : Identifying and Communicating Key Risk Indicators -- Example #5. Chapter : How to Prepare a Risk Profile -- Example #6. Chapter : Quantitative Risk Assessment in ERM -- Example #7. Chapter : Market Risk Management/Credit Risk Management -- Example #8. Chapter : Operational Risk Management -- Example #9. Chapter : Types of Risk -- Example #10. Chapter : Managing Financial Risk -- Example #11. Chapter : Bank Capital Regulation and Enterprise Risk Management.

Example #12. Chapter : Legal Risk Post-SOX and the Subprime Fiasco -- Example #13. Chapter : Academic Research on Enterprise Risk Management -- Example #14. Chapter : How to Plan and Run a Risk Management Workshop -- Chapter: Who Reads What Most Often? -- References -- About the Contributors -- PART 2 ERM Implementation at Leading Organizations -- 3 ERM at Mars, Incorporated: ERM for Strategy and Operations -- Mars ERM History -- Failure and Retrenchment -- Phase 2-Success -- Global Rollout -- Reporting -- 2007 Operating Plan Workshops -- Technology -- Aggregation -- Template Evolution -- Special Situations -- Major Acquisition -- Conclusion -- Questions -- Note -- About the Contributor -- 4 Value and Risk: Enterprise Risk Management at Statoil -- ERM at Statoil: A Brief History -- ERM Foundations -- ERM Processes in Statoil Today -- Optimizing Total Risk -- Total Risk Optimization: Lessons Learned -- Risk Aggregation -- The Frontiers -- Conclusion -- Questions -- Notes -- References -- About the Contributors -- 5 ERM in Practice at the University of California Health System: -- The Enterprise Risk Management Program -- Leveraging Technology to Support ERM -- Creating a Risk-Aware Culture -- Health System Specialized Programs -- Premium Rebate Program -- ERM and the Center for Health Quality and Innovation -- Protected Health Information Value Estimator (PHIve) -- Reputational Repercussions -- Financial Repercussions -- Legal and Regulatory Repercussions -- Operational Repercussions -- Clinical Repercussions -- Total the Impacts -- ERM and Strategy -- Questions -- Notes -- About the Contributor -- 6 Strategic Risk Management at the LEGO Group: Integrating Strategy and Risk Management -- About the LEGO Group -- The LEGO Group Strategy -- LEGO Strategic Risk Management -- Strategic Risk Management Lab Commentary -- Enterprise Risk Management (Step 1).

Strategic Risk Management Lab Commentary -- Monte Carlo Simulation (Step 2) -- Risk Tolerance -- Strategic Risk Management Lab Commentary -- AROP: Active Risk Assessment of Business Projects (Step 3) -- Common Language and Common Framework -- Strategic Risk Management Lab Commentary -- Preparing for Uncertainty: Defining and Testing Strategies (Step 4) -- Four Strategic Scenarios -- The PAPA Model -- Strategic Risk Management Lab Commentary -- Stategic Risk Management Return on Investment -- Strategic Risk Management Lab Commentary -- Conclusion -- Questions -- Notes -- References -- About the Contributors -- 7 Turning the Organizational Pyramid Upside Down: Ten Years of Evolution in Enterprise Risk Management at United Grain Growers -- Background-Operating Environment -- Governance -- Leadership -- ERM/Integrated Risk Outcomes -- ERM Credit Financing Outcomes -- Agricore United -- Harvesting Value -- Conclusion -- Questions -- Acknowledgments -- Notes -- About the Contributor -- 8 Housing Association Case Study of ERM in a Changing Marketplace -- Background -- Sector Issues -- Charitable Status -- Sector Risks -- Some Useful Methodology -- Risk Appetite Determination -- Risk Assessment Methodology -- Four Associations -- Association A: London &amp -- Quadrant -- Mission Statement -- Perceived Risks -- Choices Made in 2012/2013 -- Association B: RCT Homes -- The RCT Subsidiaries -- Perceived Risks -- Association C: Ability Housing Association -- Perceived Risks -- Association D: GreenSquare -- Objectives and Strategy -- Questions -- Notes -- References -- About the Contributor -- 9 Lessons from the Academy: ERM Implementation in the University Setting -- The Higher Education Environment -- Organizational Type Impacts Institutional Culture -- Risks Affecting Higher Education -- Emergence of ERM in Higher Education.

Adopting and Implementing ERM in Colleges and Universities -- The University of Washington: A Journey of Discovery -- Institutional Profile -- Culture at UW -- Implementation History at UW -- Leadership from the Top: President Outlines the Charge -- Advisory Committee Recommendations: Create a Culture-Specific ERM Program -- Scope of the Risk Framework -- Organizational Structure -- Philosophy of the Program -- Evolution of ERM at UW -- ERM Structure at UW -- UW Units -- ERM Program Staff -- Compliance, Operations, and Finance Council (COFi) -- Presidents Advisory Committee on ERM (PACERM) -- Internal Audit -- UW President and Provost -- UWs ERM Model -- Adopting and Adapting the COSO Model -- Tools and Techniques -- Outcomes and Lessons Learned -- What Next?: Current Priorities and Future Direction -- Conclusion -- Questions -- Notes -- References -- About the Contributor -- 10 Developing Accountability in Risk Management: The British Columbia Lottery Corporation Case Study -- Background -- The Beginnings of the Risk Management Journey -- Learning from the First ERM Initiative -- Restarting the Program-2006-2008 -- Key Steps in the Development of the ERM Program -- Revitalizing the ERM Program-2009-2010 -- Strengthening the Program-2010-2013 -- Building the Risk Profile -- The Role of Risk Managers, Champions, and Committees -- Developing a More Sophisticated Approach to Risk Analysis and Evaluation -- Conclusion -- Questions -- Notes -- References -- About the Contributor -- 11 Starting from Scratch: The Evolution of ERM at the Workers' Compensation Fund -- Toward ERM Program Initiation -- Initial Actions -- Maturing: Years 1 and 2 -- The Future -- Questions -- Notes -- About the Contributor -- 12 Measuring Performance at Intuit: A Value-Added Component in ERM Programs -- Intuits ERM Journey -- ERM Maturity Model.

Benefits of Measuring Performance in ERM Programs -- Using Key Performance Indicators to Measure Risk Management Effectiveness -- Analyzing Performance Data -- Using Key Risk Indicators to Understand Potential New Risks or Changing Risks -- ERM Performance Measurement and Reporting at Intuit -- First Evolution: ERM Process Adoption -- Second Evolution: Risk Mitigation Progress Measurement -- Third Evolution: Multidimensional Risk Management Performance Measurement -- Conclusion -- Questions -- About the Contributor -- 13 TD Bank's Approach to an Enterprise Risk Management Program -- Background -- ERM at TD Bank -- Understanding an Organizations Risks Helps Reinforce the Risk Culture -- Risk Governance Structure -- Risk Identification, Assessment, and Reporting -- Risk Measurement -- Risk Control -- Risk Monitoring and Reporting -- Conclusion -- Questions -- References -- About the Contributors -- PART 3 Linking ERM to Strategy and Strategic Risk Management -- 14 A Strategic Approach to Enterprise Risk Management at Zurich Insurance Group -- Enterprise Risk Management at Zurich -- Tangible Results -- Optimizing the Risk and Reward Balance at Zurich -- Risk Culture at Zurich -- Zurich Groups Enterprise Risk Management Framework -- Risk Governance Approach at Zurich with Three Lines of Defense -- Integrated Assessment and Assurance -- Internal Control Framework -- Role of the Chief Risk Officer and Group Risk Management at Zurich -- Board-Level Risk Committee and Executive Risk Committee Responsibilities -- Emerging Risk Group -- Working with External Stakeholders -- Zurichs Proprietary Tools Used in ERM Framework -- Total Risk Profiling Tool -- Zurich Hazard Analysis Tool -- Zurichs Risk Room -- Categorizing Various Risks at Zurich -- Strategic Risks -- Insurance Risks -- Market Risks -- Credit Risks -- Liquidity Risks -- Operational Risks.

Reputation Risks.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.