Empowered Enterprise Risk Management - (Wiley Corporate F&a) by Hakan Jankensgard & Petter Kapstad (Hardcover)
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<p/><br></br><p><b> About the Book </b></p></br></br>"Surveys of corporate practices show that firms take risk management seriously and devote considerable resources to it. Enterprise Risk Management (ERM) offers firms a set of tools for holistic risk management, and its proponents claim benefits such as fewer surprises, better risk responses, and the elimination of various suboptimal practices associated with the traditional, silo-based approach to risk management. However, despite the many apparent benefits of ERM, many senior decision-makers remain unsure how to approach it. The ERM literature is currently sprawling, with a large number of different interpretations and sometimes complex-looking blueprints and guidelines, leading to a fear that ERM, if implemented in the wrong way, will just add a layer of bureaucracy to the organization without bringing real benefits. Available information tends to be in the form of textbooks covering all aspects of the topic without any particular focus on practical implementation, or of case studies which focus on one particular aspect or application rather than the broader picture. There is a gap in the market for a book which presents the core ideas and concepts of ERM in a simple, clear, start-to-finish narrative"--<p/><br></br><p><b> Book Synopsis </b></p></br></br><p>In 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.</p><p/><br></br><p><b> From the Back Cover </b></p></br></br><p>Surveys 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, <i>Empowered Enterprise Risk Management</i> 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. <p><i>Empowered Enterprise Risk Management</i> 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.<p/><br></br><p><b> About the Author </b></p></br></br><p><b>Håkan Jankensgård</b> 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 <i>Journal of Banking & Finance</i> and <i>Financial Management</i>. <p><b>Petter Kapstad</b> 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.
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