Enterprise Risk Management A Methodology for Achieving Strategic Objectives

ISBN-10: 0470372338
ISBN-13: 9780470372333
Edition: 2008
Authors: Gregory Monahan
List price: $80.00 Buy it from $59.74
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Description: This book provides a methodology for effective enterprise risk management. Through the use of this methodology, companies will be more successful in achieving strategic objectives. This book prescribes a process for measurement of risk associated  More...

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Book details

List price: $80.00
Copyright year: 2008
Publisher: John Wiley & Sons, Incorporated
Publication date: 9/29/2008
Binding: Hardcover
Pages: 180
Size: 6.50" wide x 9.25" long x 1.00" tall
Weight: 0.880
Language: English

This book provides a methodology for effective enterprise risk management. Through the use of this methodology, companies will be more successful in achieving strategic objectives. This book prescribes a process for measurement of risk associated with the achievement of strategic objectives. It also covers some of the aspects of managing risk. The tentative contents is: (1) Defining Enterprise Risk Management, (2) Strategic Objectives, (3) The At Risk Concept, (4) Strategic Objectives At Risk (SOAR)--The Methodology, (5) SOAR Process, (6) Set Metrics for Defined Strategic Objectives, (7) Observe Metric Values, (8) Analyze Movements in Metrics, (9) React to the Metric Analysis, (10) SOAR Dashboard, (11) Existing Enterprise Risk Management Approaches, (12) Regulation and Compliance, (13) Implementing the SOAR Methodology, (14) Application of the Concept of Shifting the Distribution, (15) SOAR Capital, Appendix A: Summary of Objectives, Risks, Risk Drivers, and Controls, Appendix B: SOAR Policy Template, Appendix C: SOAR Procedures Manual, and Appendix D: SOAR in Action.

Preface
Acknowledgments
Introduction
Defining Enterprise Risk Management
Risks
Risk Drivers
Controls
Inherent and Residual Risk
Events
Outcomes
Management
Enterprise Risk Management
Strategic Objectives
Financial Objectives
Statement of Financial Position
Statement of Financial Performance
Market Objectives
Customers
Suppliers
Competitors
Partners
Regulators
Operational Objectives
Corporate Governance
Human Resources
Management Team
Processes
Systems
Note on the Interdependence of Objectives
At-Risk Concept
A Very Simple Distribution
A Slightly More Interesting Distribution
Location of the Distribution
Basic Statistical Measures
At-Risk Measure
SOAR (the Methodology): Strategic Objectives at Risk
SOAR Methodology Components
Strategic Objectives
Execution Resources (The Enterprise Risk Management Office)
SOAR Process
SOAR (the Process)
Set Metrics for Defined Strategic Objectives
Why Measure?
Classes of Metrics
Metrics for Strategic Objectives
Metrics for Risk Drivers
Metrics for Controls
Setting Metrics
Cause and Effect
Cause-and-Effect Diagrams
Causal Loop Diagrams
Process Flow Charts
Regression Analysis
Sensitivity Analysis
Scenario Analysis
Examples of Metrics
Setting Target Values for Metrics
Observe Metric Values
Observation Methods
Gathering Available Data
Calculating Data
Self-Assessment
Recording Observations of Metrics
Frequency of Observation
Triggers
Analyze Movements in Metrics
Conducting the Analysis
Validating the Data
Validating Metric Choice
Reporting Findings
React to the Metric Analysis
Record the Rationale for Your Reaction
Simple Task of Reacting According to the Measures
Confidence
Difficult Task of Managing Human Behaviors
SOAR Dashboard
Today's Dashboard
SOAR Black Box Recorder
Existing Enterprise Risk Management Approaches
Six Sigma
Balanced Scorecard
COSO
Regulation and Compliance
Sarbanes-Oxley Act
Basel II
AS/NZS 4360:2004:Risk Management
Organizational Risk Management Policy
Application of the Concept of "Shifting the Distribution"
GE
Bank Treasury Operations
Humans in Daily Life
Airlines
One Other Example
Implementing the SOAR Methodology
Resourcing the Enterprise Risk Management Office
Enterprise Risk Management Officers
Enabling Technology
Applying the SOAR Process
SOAR in Action Example
Set (Metrics)
Cause and Effect (and Why, Why, Why?)
Cause-and-Effect Diagrams
Causal Loop Diagrams
Process Flowcharts
Regression Analysis
Sensitivity Analysis
Scenario Analysis
Observe (End-of-Year Metric Values)
Analyze (Movements in Metric Values)
React (to the End-of-Year Analysis)
Set
Observe
Analyze
React
Conclusion
SOAR Methodology FAQ
Resources
Index

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