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After completing this reading you should be able to:
- Describe enterprise risk management (ERM) and compare and contrast differing definitions of ERM.
- Compare the benefits and costs of ERM and describe the motivations for a firm to adopt an ERM initiative.
- Describe the role and responsibilities of a chief risk officer (CRO) and assess how the CRO should interact with other senior management.
- Describe the key components of an ERM program.
0:00 Introduction
0:29 Learning Outcomes
0:51 What is ERM?
4:27 Alternative Definition
6:08 ERM in Detail
7:32 Benefits of ERM
9:48 Organizational Efficiency
11:47 Risk Reporting
12:38 The Chief Risk Officer
16:32 Components of ERM
18:23 Corporate Governance
21:25 Line Management
24:01 Portfolio Management
24:53 Risk Transfer
26:52 Risk Analytics
28:35 Data and Technology Resources
29:35 Stakeholder Management
30:41 Book 1 - Foundations of risk management Chapter 4