Corporate Value of Enterprise Risk Management: The Next Step in Business Management [Hardcover]

The ultimate guide to maximizing shareholder value through ERM

The first book to introduce an emerging approach synthesizing ERM and value-based management, Corporate Value of Enterprise Risk Management clarifies ERM as a strategic business management approach that enhances strategic planning and other decision-making processes.

• A hot topic in the wake of a series of corporate scandals as well as the financial crisis
• Looks at ERM as a way to deliver on the promise of balancing risk and return
• A practical guide for corporate Chief Risk Officers (CROs) and other business professionals seeking to successfully implement ERM

ERM is here to stay. Sharing his unique insights and experiences as a recognized global thought leader in this field, author Sim Segal offers world-class guidance on how your business can successfully implement ERM to protect and increase shareholder value.

Foreword ix

Preface xi

Acknowledgments xix

Part I: Basic ERM infrastructure

Chapter 1: Introduction 3

Evolution of ERM 4

Basel Accords 4

September 11th 5

Corporate Accounting Fraud 7

Hurricane Katrina 9

Rating Agency Scrutiny 10

Financial Crisis 11

Rare Events 13

Long-Term Trends 14

Challenges to ERM 15

Summary 16

Notes 16

Chapter 2: Defining ERM 18

Definition of Risk 18

Definition of ERM 24

Summary 58

Notes 59

Chapter 3: ERM Framework 6l!