A
- Aabo, Tom
- Aabo, Fraser, and Simkins (2005)
- Ability-to-pay measures
- Academic research on ERM
- academic research on ERM
- case studies on ERM
- conclusion
- introduction
- Accountability
- Accounting for Derivatives Instruments and Hedging Activities (FASB 133)
- Acharyya and Johnson (2006)
- Acid Test
- Acting on the risks
- Active management of the largest risks
- Adaptive risk management
- Adding ERM to company credit ratings
- Adelphia
- Against the Gods: The Remarkable Story of Risk (Bernstein)
- Agenda, setting
- Aggregating probabilities and impacts
- AIG
- ALARA (As Low As Reasonably Achievable)
- Alkon, Andrew
- Altman Z-Score
- A.M, Best (Best)
- Anonymous reporting
- “Anonymous” voting
- Anti-Money Laundering (AML) Officer
- Antiquity, risk management in
- Appropriate risk exposure
- Arrow, Dr. Kenneth
- Arthur Anderson
- Assessing risk
- Assessment of the SOX framework on legal and reputational risk
- SOX shortcomings
- subprime fiasco
- Associate in Risk Management (ARM)
- Association of Financial Professionals
- Attendees
- Attitude about risk
- Attorneys
- “Attributes of Enhanced Risk Management”
- Audit committee
- and primary oversight for risk
- role of
- Audit committee charters
- Auditing Standard 5 (AS5)
- Auditor General of Canada
- Audit reform
- Australian/New Zealand Risk Management Standard 4360
B
- Backer, Larry Cata
- Background information
- Bair, Sheila
- Balanced Scorecard (BSC)
- Bank capital
- Bank capital regulation and ERM
- conclusion
- evolution of bank capital requirements
- introduction
- Bank capital requirements, evolution of
- Basel I
- Basel II
- enterprise risk management (ERM) and economic capital
- overview of U.S. capital ratios
- Bank for International Settlements (BIS)
- Bank of America
- Banziger, Hugo
- Barclays
- Barings PLC
- Barlow, Douglas
- Barton, Thomas L.
- Basel Committee on Banking Supervision
- Basel I Accord
- Basel II Accord
- BAT (Best Available Technology)
- Bayes, Thomas
- BCTC corporate risk matrix
- Bear Stearns bailout
- Beasley, Mark S.
- Beasley, Clune, and Hermanson (2005a)
- Beasley, Clune, and Hermanson (2005b)
- Beasley, Pagach, Warr (2008)
- Behavioral elements of risk-aware culture
- Bentham, Jeremy
- Bernanke, Ben
- Bernoulli, Daniel
- Bernoulli, Jacob
- Bernstein, Peter
- “Best’s Capital Adequacy Ratio” (BCAR)
- Bielak, Debby
- Bies, Susan Schmidt
- Black, Fischer
- “Black Monday,” October 19, 1987
- Black-Scholes options-pricing model
- Black Swan, The (Taleb)
- “Black Swans,”
- Board composition
- Board demands for more strategic risk management
- “Board Members on Risk,”
- Board of directors, role of . See also Role of board of directors and senior management in ERM
- Board risk policies
- BOC group
- Bonini, Sheila
- Booz Allen Hamilton
- Bowtie model
- Brand risk
- Branson, Bruce
- British Petroleum
- Broad Focus risk workshops
- Brooks, Doug
- Budgeting and ERM
- Buffett, Warren
- Burn Rate
- Bush, George W.
- Business continuity planning and ERM
- Business-partner roles of the CRO
- Business Planning Framework (BPF)
- Business Risk Management (BRM)
- Buy-in
C
- Cadbury report
- CAMEL (capital, asset quality, management, earnings, and liquidity) ratings
- Canada Deposit Insurance Corporation (CDIC)
- Canada Post Corporation (CPC)
- Canadian Institute of Chartered Accountants
- Canadian Risk Management Standard
- Capability to manage risk
- Capacity
- Capacity to take risks
- Capital
- Capital Purchase Program (CPP)
- Cardano, Girolamo
- Carson, Rachel
- Case for actively managing market risk
- Case for not actively managing market risk
- Case studies on ERM
- Center of Excellence (COE)
- Central Bank in Chile
- Certainty factor
- Character
- Chicago Board of Options Exchange (CBOE)
- Chief audit executive (CAE)
- Chief Compliance Officer
- Chief executive officer (CEO)
- certification of
- compensation
- interviewing
- sole representative of senior management on board
- Chief financial officer (CFO)
- Chief risk officer (CRO)
- emerging roles of
- rise and evolution of
- Citigroup
- City of Cleveland
- Clarifying strategies and objectives
- Coca-Cola Company
- CoCo (Criteria of control model)
- Codes of conduct
- Collateral
- Collateralized debt obligations (CDOs)
- Colquitt, Hoyt, and Lee (1999)
- Comcast Corporation
- Committee of Sponsoring Organizations of the Treadway Committee (COSO)
- approach to ERM
- definition of ERM
- using COSO model in select emerging countries
- Committee on Oversight and Government Reform
- Commodity price risk
- Commodity price risk: the firm with a highly volatile input cost
- Communications, consultation, and reporting
- Communications risk
- Compensation incentives
- Compensation structures
- Competitive Advantage (Porter)
- Competitive intelligence
- Competitor organizations
- Compliance
- Compliance champion
- Compliance objective
- Concept of evaluation time frames
- Concessi, Pat
- Conditions
- Conference Board of Canada (CBoC)
- Conflicts with international standards: rules versus principles
- Consequence
- Consequence domain
- integration of business objectives/risk events/risk concepts
- probability domain
- Consequences, types of
- Consultants
- Context for ERM framework
- Continuous improvement
- Copula model
- Corporate best practices
- Corporate business objectives
- Corporate culture
- Corporate governance and ERM
- Corporate objectives
- Corporate risk matrix (CRM)
- Corporate risk profile—definition and uses of
- Corporate risk profiles—common types of
- heat map
- risk map
- “top 10” list
- Corporate risk tolerance. See How to create and use corporate risk tolerance
- Corporate social responsibility (CSR)
- Corporate strategy
- Corporate sustainability risk
- COSO. See Committee of Sponsoring Organizations of the Treadway Commission (COSO)
- Cost/benefit of managing risk
- Countrywide Financial
- Coverage Ratio
- Cox, Peter
- Creating a strategic risk mindset and culture
- recognizing value of strategic risk management at high-performance companies
- strategic risk management mindset
- Credit and market risk in an ERM framework
- Credit crisis, analysis of
- Credit default swap (CDS)
- Credit derivatives
- Credit-rating agencies
- Credit-rating process
- Credit ratings
- Credit risk. See Market risk management and common elements with credit risk management
- Credit risk analysis
- credit risk mitigation
- fundamental analysis of credit default risk (probability of default)
- market-based analysis of credit default probability
- statistical-based models of credit risk
- Credit risk management
- analysis of the credit crisis
- conclusion
- credit risk analysis
- Credit risk mitigation
- Credit risks
- Credit spread
- Crisis preparedness and ERM
- Critical risk scenarios
- Culture
- Culture, importance of
- culture can discourage good risk taking
- defining culture
- goals of culture
- importance of culture
- when the chips are down
- Culture of risk management
- Currency price risk: the multinational corporation
- Currency risk
- Current Ratio
- Current situation
- Customer and market risk
- Customer credit risk
- Customer credit risk mitigation
- Customer information
D
- Damodaran, Aswath
- Darwin, Charles
- Day, Sir Graham
- Days Cash on Hand
- Debt capacity
- Debt Ratio
- Decision-Making Discipline workshops
- Decisions at Risk (DAR)
- Dedicated organizational unit
- Delaware case law on fiduciary duties
- Delaware Chancery Court
- Delaware courts
- Delaware law
- Del Bel Belluz, Diana
- Delegation of risk oversight to board committees
- Delphi
- Delphi techniques
- Delta Airlines
- Deming paradigm
- Denenberg, Dr. Herbert
- Department of Labor
- Derivative contracts
- Derivatives
- Desender (2007)
- Design, decision, and implementation of ERM framework
- Dickson, Dr. Gordon
- Disclosure risk management. See also Financial reporting and disclosure risk management
- Documenting the risk appraisal
- Doherty, Neil
- Dominators
- Dow Chemical Company
- Drivers of enterprise risk management
- Dynamic Assessment of Risk and Enablers (D.A.R.E.)
- Dynamic business environment
E
- Early warning systems
- Earnings at risk (EAR)
- EBITDA (earnings before interest and taxes, with depreciation and amortization added back)
- Economic capital
- Economic crisis
- Economic Development Canada
- Economic risk
- Economist Intelligence Unit (EIU)
- Eleven tenets of the return driven framework
- Emergency Economic Stabilization Act of 2008 (EESA)
- Emerging countries. See Establishing ERM systems in emerging countries
- Emerging global standards of business conduct
- “Emerging Governance Practices in Enterprise Risk Management,”
- Employee engagement risk
- Engle, Dr. Robert
- “Enhanced Analysis Initiative” (EAI)
- Enhancing market and institutional resilience
- Enlightenment
- Enron Corporation
- Enterprise resilience (ER): the next step?
- Enterprise Risk Management—current initiatives and issues (roundtable discussion)
- Enterprise risk management (ERM) and economic capital
- Enterprise risk management (ERM)—the first step
- Enterprise Risk Management Framework (ERMF)
- Enterprise risk management—introduction and overview
- defined
- drivers of ERM
- future of ERM and unresolved issues
- summary of book chapters
- Environmental Protection Agency
- “Environmental scan,”
- Epstein, Marc
- Equity price risk
- Ericsson
- ERM. See also Enterprise risk management
- ERM and its benefits in emerging markets
- evolution of risk management in emerging markets
- rationale for effective risk management in emerging markets
- responsibility of the board in risk management and extensions to emerging markets
- risk, reward, and risk appetite in emerging markets
- ERM and its role in strategic planning and strategy execution
- building a strategic risk assessment process
- creating a strategic risk mindset and culture
- integrating risk into strategic planning
- rising expectations for strategic risk management
- ERM at Indian companies
- ERM dashboard
- ERM frameworks
- accountability
- communications, consultation, and reporting
- conclusion
- continuous improvement
- elements of an ERM framework
- integration of risk management and resources for ERM
- introduction
- mandate and commitment to the ERM framework
- risk management policy
- risk management process (RMP)
- ERM implementation strategies
- board composition
- compliance
- culture
- reporting
- role of audit committee
- role of the board
- training
- ERM literature. See Survey of ERM literature read by risk executives
- ERM management, culture, and control
- ERM positioned as value-adding
- ERM tools and techniques
- Establishing ERM in emerging countries
- conclusion
- COSO approach to ERM
- ERM and its benefits in emerging markets
- observations of ERM practices in emerging countries
- Evaluation time frames
- Evolution of risk management in emerging markets
- Execution Premium model
- Executive pay requirements under TARP
- Exotic options
- Expected Default Frequency (EDF)
- Export-Import Bank
- Exposure size
- External audit as independent source of key risk identification
- External context
F
- Facilitation tips for risk workshops
- Facilitator
- Factor company
- “Failure-tolerant” leaders
- Fair Value Accounting
- Fair Value Accounting (FASB 157)
- Fair value accounting, reexamining (FASB 157)
- Fayol, Henry
- Federal Deposit Insurance Corporation (FDIC)
- Federal Deposit Insurance Corporation Improvement Act of 1991 (FIDICIA)
- Federal Reserve
- Federal rules of professional responsibility for attorneys
- Feedback from interviewees on the interview process
- FEI Corporation
- Fellow of the Institute of Risk Management
- Ferguson, R. Jr.
- Fidelity Investments
- Final report
- Finance risks
- Financial Accounting Standards Board (FASB)
- Financial crises and remedies
- Financial distress
- Financial hedging. See Managing financial risk and its interaction with ERM
- Financial markets
- Financial reporting and disclosure risk management
- conclusion
- disclosure and Sarbanes-Oxley
- financial reporting challenges today
- foundations in the United States
- importance of disclosure management and ERM
- important SOX sections
- other financial reporting
- risk identification, monitoring, and reporting
- Financial reporting challenges today
- adding ERM to company credit ratings
- conflicts with international standards
- global financial crisis and ERM
- paring down internal control
- reexamining fair value accounting
- Financial reporting risk
- Financial risk. See Managing financial risk and its interaction with ERM
- Financial services sector and risk taking
- Financial Stability Forum
- Findings of survey on risk management in emerging markets
- Firm choice for FASB 133 and disclosure risk management
- Firm failures and disclosure management
- Firm value
- Firm with a highly volatile input cost
- Fitch Rating (Fitch)
- “Five Cs” of credit analysis
- Five L (5L) strategy
- “Five Whys” method
- Flick, Friedrich
- Fluor Corporation
- FMEA (Failure Mode and Effects Analysis)
- Fooled by Randomness (Taleb)
- Ford Motor Company
- Ford Motor Credit
- Forward contracts
- Forward-type products
- Forward-type transactions
- Franklin, Benjamin
- Fraser, John R.S.
- Fraser, Schoening-Thiessen, and Simkins (2008)
- Frigo, Mark L.
- Fundamental analysis of credit default risk (probability of default)
- Funding risk
- Funding risk management
- Future of ERM and unresolved issues
- Futures contract
- Futures markets
G
- Gallagher, Russell
- Galton, Francis
- Gap analysis for ERM
- Gates, Nicolas, and Walker (2009)
- Generalized Extreme Value (GEV) distribution
- General Motors
- General Motors Acceptance Corp. (GMAC)
- Geneva Association
- Geneva Papers on Risk and Insurance
- Genuine assets at risk, focus on
- Giarini, Orio
- Glass-Steagall Act
- Global Association of Risk Professionals (GARP)
- Global Auditing Information Network (GAIN)
- Gobal Crossing
- Global financial crisis and ERM
- Globalization in banking
- Globalization in world trade
- Goal of ERM
- Goals
- Goals, and effect on risk-taking behavior
- Goldman Sachs
- Good risk taking
- Governance
- Governance and oversight of market risk management
- Governance breakdown
- Governance expectations for board oversight
- Governance risk
- Government Accountability Office (GAO)
- Graunt, John
- Greeks
- Grose, Dr. Vernon
- Group of Thirty Report
- Gumbel, Emil
- Gup, Benton E.
H
- Hackett, Susan
- Hamilton, Gustav
- Hargreaves, John
- Harmonization
- Harrington, Niehaus, and Risko (2002)
- HAZOP (HAZard Analysis and OPerability study)
- HealthSouth
- Heat map
- “Heavy-debt” firm
- Hedging
- Hedging credit risk
- Hedging naturally
- Hedging transaction involving derivatives
- Henning, Professor Peter J.
- Herodotus
- Hicks, Sir John
- Highly volatile input cost
- “High/medium/low” classification of risks: the two-dimensional risk map
- High-performance companies
- History of risk management
- after the Middle Ages
- introduction
- past 100 years
- risk management in antiquity
- H.J. Heinz Company
- Hofmann, Michael
- Holistic approach to ERM
- How to allocate resources based on risk
- concepts, methods, and models enabling risk identification, evaluation, mitigation, prioritization, and management
- conclusion
- consequence domain
- information requirements and challenges
- introduction
- measures of effectiveness for continuous improvement
- risk-based business processes and organizational considerations
- risk policy and a center of excellence for risk management
- How to create and use corporate risk tolerance
- conclusion
- how can your organization make risk tolerance useful in managing risk?
- introduction
- what are the factors to consider in setting risk tolerance?
- what is risk tolerance?
- why is setting risk tolerance important?
- How to plan and run a risk management workshop
- conclusion
- execution
- how to conduct a risk workshop
- introduction
- risk workshops
- techniques for planning and facilitating effective risk workshops
- what is a risk workshop?
- why use workshops?
- How to prepare a risk profile
- advantages and disadvantages of information-gathering methodologies
- common types of corporate risk profiles
- conclusion
- definition and uses of a corporate risk profile
- how to prepare a “Top 10” risk profile—Hydro One’s experience
- introduction
- Hume, Susan
- Hwang, Susan
- Hydro One
- benefits of ERM and outcomes at Hydro One
- conclusion
- corporate risk profile
- getting started with ERM
- processes and tools
- quantifying the unquantifiable
- Hydro One—processes and tools
- business context
- identification and assessment of risks and controls
- monitor and review
- tolerability of risk—and risk mitigation
I
- Identifying and communicating key risk indicators
- conclusion
- design principles
- implementation considerations
- introduction
- practical applications
- value of KRIs to risk management
- what is a key risk indicator?
- Identifying risks
- IG Farben
- Impact range probability distribution
- Incentives
- Incentives of the firm’s management and board
- Incorporating risk quantification in the business planning process
- Information-gathering methodologies
- Information requirements and challenges
- operational risk assessment information
- strategic risk assessments
- Information risks
- Innovation risk
- Institute for Risk Management
- Institute of Internal Auditors
- Insurance Institute of America
- Integrating risk into strategic planning
- eleven tenets of the return driven framework
- evaluating strategic business risk
- recognizing strategic business risk
- using a framework to build a strategic risk management mindset
- Integration of risk management and resources for ERM
- Interaction of financial hedging with other types of risk management
- credit risk management
- financial reporting and disclosure risk management
- operational risk management
- reputation and legal risk management
- strategic risk management
- Interest rate risk
- Interest rate risk: the “heavy-debt” firm
- Internal audit function in ERM
- Internal context
- International Accounting Standards Board (IASB)
- International Air Travel Association
- International Association for the Study of Insurance Economics
- International Decade for Natural Disaster Reduction (IDNDR)
- International Federation of Risk & Insurance Management Associations (IFRIMA)
- International Financial Reporting Standards (IFRS)
- International Monetary Fund (IMF)
- International Organization for Standardization
- International Strategy for Disaster Reduction (ISDR)
- International Swaps and Derivatives Association (ISDA) Master Agreement
- Investment proposals (IPs)
- Involvement
- IOSCO Principles of Security Markets Regulations
- Isaac, William
- ISO risk management framework
- ISO Guide 73
- ISO 31000 Risk Management—Principles and Guidelines
- ISO 31000 Risk Management Standard
- Is risk all bad?
- Iyer, Subramanian Rama
J
- Joint Australian/New Zealand Standard for Risk Management
- Journal of Applied Corporate Finance
- Journal of Applied Finance
K
- Kahneman, Daniel
- Kaplan, Robert
- Keynes, John Maynard
- Key performance indicator (KPI)
- Key performance management and reporting system elements
- Key Risk Indicator (KRI)
- definition
- differentiation from key performance indicator
- examples of KRIs
- value to risk management
- Key risk indicator—design principles
- consider relative importance of KRIs
- consider wider set of KRIs
- ensure clarity of what is being measured
- focus more on objective measures
- have a good basic understanding of the risks
- keep the stakeholders and objectives in mind
- leverage management insight and existing metrics
- limit indicators to those that are most representative
- monitor for continual usefulness
- think longer term
- Key risk indicator—implementation considerations
- data and technology challenges
- integration with business activities
- lack of resources and skills
- obtaining buy-in
- sustainability of the KRI framework
- Key risk indicator—practical applications
- clarify risk-taking expectations
- enhance operational efficiency and effectiveness
- measure risk
- monitor risk exposures
- validate organizational planning and monitor performance
- Key risk indicators (KRIs). See Identifying and communicating key risk indicators
- Kleffner, Lee, and McGannon (2003)
- Kloman, Felix
- Knight, Frank
- Kolb, Robert (Bob)
- Kroszner, Randall S.
- Krup, Alfried
L
- Lagerfeld, Stephen
- Lam, James
- Large Complex Banking Organizations (LDBOs)
- Large groups
- Lattimore, Joshua
- Law of Large Numbers
- Lawrence, Mark
- Learning Discipline workshops
- Leeson, Nick
- Legal compliance programs
- Legal framework of legal and reputational risk management
- audit reform
- codes of conduct
- federal rules of professional responsibility for attorneys
- whistle-blower protection under SOX
- Legal risk management
- Legal risk post-SOX and the subprime fiasco
- assessment of the SOX framework on legal and reputational risk
- conclusion
- introduction
- legal framework of legal and reputational risk management
- toward optimal reputational and legal risk management
- Lehman Brothers
- Leitner, Friedrich
- Leonardo da Vinci
- Less-developed countries (LDC)
- Lessons from integrating ERM with ongoing management initiatives
- balanced scorecard and ERM
- budgeting and ERM
- business continuity planning, crisis preparedness, and ERM
- corporate governance and ERM
- internal auditing and ERM
- strategic planning and ERM
- Lessons from the ERM process
- acting on the risks
- assessing risk
- clarifying strategies and objectives
- identifying risks
- monitoring risks
- Lessons from the field
- conclusion
- introduction
- lessons from integrating ERM with ongoing management initiatives
- lessons from the ERM process
- some key value lessons from ERM
- Liebenberg and Hoyt (2003)
- Liquidity
- Liquidity risk
- Long-Term Capital Management (LTCM)
- Loss event information
- Loss Given Default
M
- Making Sustainability Work (Epstein)
- Management of the portfolio of preferred investment proposals
- Managing financial risk and its interaction with ERM
- interaction of financial hedging with other types of risk management
- introduction
- theoretical underpinnings of financial hedging and empirical findings
- what can we learn about ERM given our knowledge of financial hedging
- what is financial risk and how is it managed?
- Managing Risk: Systematic Loss Prevention for Executives (Grose)
- Mandate and commitment to the ERM framework
- context for ERM framework
- design, decision, and implementation of ERM framework
- gap analysis for ERM
- rationale for commitment to ERM
- Mankins and Steele survey
- Market-based analysis of credit default probability
- Market risk. See Market risk management and common elements with credit risk management
- Market-risk hedging strategy
- Market risk management and common elements with credit risk management
- conclusion
- introduction to credit risk and market risk
- market risk management with forward-type products
- measuring market risk
- responding to credit and market risk
- Market risk management with forward-type products
- governance and oversight of market risk management
- market risk management with option-type products
- operational issues of using derivatives
- trade-offs between option strategies and forward strategies
- Market risk management with option-type products
- Market risks
- Markowitz, Dr. Harry
- McCarran-Ferguson Act
- McKinsey consulting firm
- Measuring market risk
- earnings at risk
- markets as risk indicators
- measuring potential impact
- Mercer Management Consulting
- Merck
- Merrill Lynch
- Merton, R.C.
- Metallgesellschaft AG
- Methods and models to quantify the impact of risk events
- Mittelstaedt, Robert
- Middle Ages, risk management after
- Mikes, Anette
- Mitigants
- Modeling expert
- Model Rules of Professional Responsibility
- Moivre, Abraham de
- Moltke, Helmuth von
- Monitoring risks
- Monte Carlo methods
- Moody, Mike
- Moody’s Investment Service (Moody’s)
- Moody’s KMV model
- Morgenstern, Oskar
- Mortgage-backed securities (MBS)
- Most frequently read literature on ERM
- Multinational corporation
- Mylrea, Ken
N
- Nader, Ralph
- Narrow Focus risk workshops
- Nasdaq
- Nason, Rick
- National Association of Corporate Directors (NACD)
- Natural Disaster Management
- Natural market risk management
- Nehru, Jawalarlal
- Net present value (NPV)
- Neumann, John von
- New directions
- enterprise risk management (ERM): the first step
- enterprise resilience (ER), the next step?
- New York Mercantile Exchange (NYMEX)
- New York Stock Exchange (NYSE)
- Corporate Governance Rules
- listing requirements/standards
- New York Yankees
- Nocco and Stulz (2006)
- Nokia
- Nonparticipation
O
- Objectives of the workshop
- OECD (Organisation for Economic Co-operation and Development)
- Principles of Corporate Governance)
- Openness
- Operational issues of using derivatives
- Operational objective
- Operational risk assessment information
- Operational risk management (ORM)
- conclusion
- how do you align operational risk management with ERM?
- how do you assess operational risks, particularly in a dynamic business environment?
- how do you encourage a culture of risk management at the operational level?
- introduction
- what can you do to effectively manage operational risk?
- what is operational risk and why should you care about it? Is risk all bad?
- why you need to define risk tolerance for aligned decision making
- Operational risks
- Operations risk
- Oppenheim, Jeremy
- Option Adjusted Spread (OAS)
- Option contracts
- Option-type products
- Option-type strategies
- Oracle of Omaha (Warren Buffett)
- Orange County, California
- Organizational objectives
- Other comprehensive income (OCI)
- Over-the-counter (OTC) contracts
P
- Paccioli, Luca
- Pagach and Warr (2007)
- Pagach and Warr (2008a)
- Pagach and Warr (2008b)
- Paring down internal control: Auditing Standard 5 (AS5)
- Parmalat
- Partnering risk
- Pascal, Blaise
- Performance incentives
- Performance management system
- Perkins, Todd
- Philips
- PIM Framework
- Pisano, Leonardo
- Pitt, Harvey
- Plan-Do-Check-Act (PDCA)
- Planning indicators (PIs)
- Plaster, Gary
- PMI (Project Management Institute)
- Porter, Michael
- Potential impact, measuring
- Potential risks list
- Prediction markets
- Preferred investment proposals
- Preparation for risk workshop
- Principles of Corporate Governance
- Prioritization index
- Prioritization of investment proposals
- Prior list of top risks
- Privacy Officer
- Private sector organization versus public-sector organization
- Proactive risk culture
- Probability Scale
- Process elements of risk-aware culture
- Professional Risk Managers’ International Association (PRMIA)
- Prompt Correct Action (PCA) rules
- Public Company Accounting Oversight Board (PCAOB)
Q
- Quail, Rob
- Qualified Legal Compliance Committee (QLCC)
- Quantitative enthusiasm
- Quantitative Impact Studies (QIS)
- Quantitative risk assessment in ERM
- aggregating probabilities and impacts
- conclusion
- incorporating risk quantification in the business planning process
- introduction
- risk assessment: four alternative approaches
- sensitivities and scenarios
- total corporate risk: an illustration
- Quantitative skepticism
- Quick Ratio
R
- R&D risk
- Raju, B. Ramalinga
- Ramirez, Professor Mary
- Ramirez, Steven
- Randolph, Willie
- Raskind, Peter
- Rating agencies’ impact on ERM
- banking
- conclusion
- fly in the ointment
- insurance
- nonfinancial companies
- U.S. energy companies
- Rating Reform Act of 2006,
- Rationale for commitment to ERM
- Rationale for effective risk management in emerging markets
- Recording the risk management process
- Record keeper
- Reference materials
- Regulators
- Regulatory compliance
- Relationship between a risk factor, risk event, and consequence
- Renaissance
- Reporting
- Reporting objective
- Reputation, as a company asset
- Reputational risk. See Legal risk post-SOX and the subprime fiasco
- Reputation and legal risk management
- “Residual risks,”
- Resources, allocating. See How to allocate resources based on risk
- Responding to credit and market risk
- case for actively managing market risk
- case for not actively managing market risk
- natural market risk management
- Responsibility of the board in risk management and extensions to emerging markets
- Responsible risk taking
- Return Driven Strategy framework
- Return on Risk Capital (RORC)
- Reward
- Rising expectations for strategic risk management
- board demands for more strategic risk management
- ERM positioned as value-adding
- Risk
- Risk-adjusted business decisions
- Risk-adjusted performance measurement
- Risk-adjusted planning process
- Risk analysis
- Risk Analysis
- Risk and control self-assessments (RCSAs)
- Risk & Insurance Management Society (RIMS)
- Risk anticipation
- Risk appetite
- Risk assessment: four alternative approaches
- Method 1: Active management of the largest risks
- Method 2: “High/medium/low” classification of risks: the two-dimensional risk map
- Method 3: Risk assessment using refined classifications: refining the classification
- Method 4: Statistical analysis
- Risk assessment using refined classifications: refining the classification
- Risk assessments
- Risk attitude
- Risk-aware culture—creating
- conclusion
- elements of risk-aware culture
- how to create risk-aware culture
- importance of culture
- what does risk management have to do?
- Risk-aware culture—elements of
- Risk-aware culture—how to create
- alignment of incentives and rewards
- defining the elements
- involvement and buy-in
- measuring and monitoring
- openness
- tone from the top
- Risk-based business processes and organizational considerations
- organizational considerations
- risk-based business processes
- Risk-based concepts
- Risk categories
- Risk communication and consultation
- Risk-conscious controller
- Risk criteria
- Risk culture
- Risk databases
- Risk evaluation
- Risk events
- Risk exposures
- Risk factor
- Risk Focused Resource Allocation Framework (RFRAF)
- Risk identification
- Risk identification, monitoring and reporting
- Risk identification techniques
- Risk intolerance trap
- Risk magnitudes
- Risk Magnitude Scale
- “Risk Management Assessments” (Moody’s)
- Risk Management Association
- Risk Management Committee
- Risk management in banks
- Risk management context
- Risk management during past 100 years
- list of significant people and events
- Risk management framework—ISO definition
- “Risk Management: A New Phase of Cost Control,”
- Risk management, principles of
- Risk management policy
- policies for ERM framework
- policies for risk management decisions
- review of policies
- Risk management process (RMP)
- communication and consultation
- context
- monitoring and review
- recording the RMP
- risk assessment
- risk treatment
- schematic
- Risk management processes, formalizing
- “Risk Management Revolution, The,”
- Risk management: techniques in search of a strategy
- conclusion
- current situation
- governance
- introduction
- new directions
- risk strategy framework
- Risk management workshop. See How to plan and run a risk management workshop
- Risk management workshop—benefits of
- continuous improvement
- efficient use of time
- learning opportunity
- risk management education
- team building
- Risk map
- Risk matrix
- Risk measurement
- Risk mitigation
- Risk models
- Risk preparation biases
- Risk policy and a center of excellence for risk management
- center of excellence
- key policy elements
- translating strategic objectives into risk-based concepts
- Risk policy framework
- Risk profile. See How to prepare a risk profile
- Risk quantification
- Risk ratings and trends
- Risk reporting
- Risk Retention Act of 1982,
- Risk, reward, and risk appetite in emerging markets
- Risk strategy framework
- Risks that can have large impacts
- Risk tolerance
- defined
- setting
- using to manage risk
- Risk tolerance—factors to consider in setting
- attitude about risk
- capability to manage risk
- capacity to take risk
- cost/benefit of managing risk
- goals
- Risk tolerances (RTs)
- Risk transfer and retention strategies
- Risk treatments
- mitigation activities
- prevention activities
- Risk, Uncertainty and Profit (Knight)
- Risk universe
- Risk versus controls chart
- Risk workshop
- “anonymous” voting
- defined
- tough spots
- useful facilitation tips
- Risk workshop—execution
- facilitate the workshop
- prepare the final report
- record the results
- Risk workshop—how to conduct
- arrange venue
- assemble reference materials
- decide on attendees
- identify the sponsor
- preparation
- set the agenda
- set the objectives of the workshop
- set the scope
- Risk workshop—why use?
- Risky sovereign nations
- Rizzi, Joseph V.
- Robert Morris Associates
- Rogers, Daniel A.
- Rogers, Will
- Role of board of directors and senior management in ERM
- delegation of risk oversight to board committees
- ERM implementation strategies
- external audit
- formalizing risk management processes
- governance expectations for board oversight
- introduction
- role of internal audit function
- senior executive leadership in risk management
- Romans
- Rosen, Professor Robert Eli
- Rubin, Robert
- Ruckelshaus, William
- Rumsfeld, Donald
S
- Salomon Brothers
- Samsung
- Sanford, Charles
- Sarbanes-Oxley Act of 2002 (SOX)
- Satyam Computer Services
- Scale graduations
- Scenario analyses
- Schoening-Thiessen, Karen
- Scholes, Myron
- Scope, setting
- organizational objectives
- risk universe
- time horizon
- Securities and Exchange Commission (SEC)
- Securitization
- Security rating agencies
- Senior executive leadership in risk management
- Senior management. See Role of board of directors and senior management in ERM
- Senior Supervisors Group
- Sensitivities and scenarios
- September 2008 collapse of independent investment banks
- Seven steps used to assess operational risks
- Shareholder value
- Shareholder value risk
- Shenkir, William G.
- Shortreed, John
- “Signature clause,”
- Simkins, Betty
- Sir Graham Day Award for Excellence in Culture Changes
- Slovic, Paul
- Smith, Clifford
- Snider, Dr. Wayne
- Snyder, Betsy
- Social Science Research Network
- Société Générale
- Society for Risk Analysis (SRA)
- Solvency
- Southwest Airlines
- Sovereign credit risk mitigation
- Sovereign risk
- Sovereign risk events
- SOX shortcomings
- Special purpose vehicle (SPV)
- Special topics and case studies
- Sponsor, identifying the
- Standard & Poor’s (S&P)
- Strategic advisor
- Strategic business objectives (SBOs)
- Strategic business risk
- Strategic controller
- Strategic Finance
- Strategic objectives
- Strategic planning and ERM
- Strategic risks
- Strategic risk assessment process, building
- critical steps for value-added strategic risk management
- focus on genuine assets at risk
- strategic risk management and performance measurement
- strategic risk management processes
- Strategic risk assessments
- Strategic Risk Council (SRC)
- Strategic risk management
- Strategic risk management and performance measurement
- Strategic Risk Management Lab at DePaul University
- Strategic risk management mindset
- Strategic risk management processes
- Strategic risk mindset and culture
- Strategic Risk Taking: A Framework for Risk Management (Damodaran)
- Strategy Execution Systems
- Strategy maps
- Statistical analysis
- Statistical-based models of credit risk
- Stock market
- Strength of Mitigants Scale
- Stroh (2005)
- Structured Investment Vehicles (SIVs)
- Stulz, Rene
- Supbrime crisis
- Subprime mortgage fiasco
- Subprime mortgage lending crisis
- Sulzer Medica
- Summary of book chapters
- ERM management, culture, and control
- ERM tools and techniques
- overview
- special topics and case studies
- survey evidence and academic research
- types of risks
- Supply chain risk
- Survey evidence and academic research
- Survey of ERM literature read by risk executives
- conclusion
- introduction
- publications included in the survey
- survey methodology
- survey respondents who gave permission to be identified
- survey results
- Survey results on ERM literature
- critical areas of need
- ERM tools and techniques used by respondents
- key findings of survey
- most frequently read literature on ERM
- survey respondent profile
- Surveys
- Swap contracts
T
- Taleb, Nassim Nicolas
- Target Corporation
- TARP rescue plan
- Taxonomy of market and credit risk
- Terrorism of September 11, 2001
- Thales
- Thucydides
- Theoretical underpinnings of financial hedging and empirical findings
- does hedging affect firm value?
- hedging creates more debt capacity
- hedging reduces expected costs of financial distress and underinvestment
- hedging reflects the incentives of the firm’s management and board
- Three pillars of Basel II,
- Time horizon
- Tolerability
- Tone from the top
- Toneguzzo, Joe
- To-Big-To-Fail doctrine
- Top eleven research reports on ERM
- Top ten articles on ERM
- Top ten books on ERM
- “Top 10” list
- “Top 10” risk profile—how to prepare
- step 1: schedule interviews and gather background information
- step 2: prepare the interview tools
- step 3: summarize the interview findings
- step 4: summarize the risk ratings and trends
- step 5: draft the Top 10 risk profile
- step 6: review the draft risk profile
- step 7: communicate the risk profile with the board or board committee
- step 8: track the results
- Toronto General Hospital/Universal Health Network
- Toronto Stock Exchange (TSE)
- Toronto Stock Exchange Dey Report
- Total corporate risk: an illustration
- Total return swaps (TRS)
- Total Shareholder Return (TSR)
- Tough spots in risk workshops
- dominators
- large groups
- nonparticipation
- Trade Confirmation
- Trade-offs between option strategies and forward strategies
- Traditional risk management approach
- Tragedy of the commons (TOTC)
- Training, director
- Treatise on Probability, A (Keynes)
- Trends
- Troubled Asset Relief Program (TARP)
- Turkish Airlines
- Tversky, Amos
- Twelve key standards for sound financial systems
- Two-dimensional risk map
- Tyco
U
- UBS
- Underinvestment
- United Grain Growers (UGG)
- UnitedHealth Group
- U.S. capital ratios, overview of
- U.S. Conference Board
- Useful literature for the implementation of ERM
- U.S. Federal Banking Agencies
- Using a framework to build a strategic risk management mindset
V
- Value
- Value-added strategic risk management
- Value at Risk (VAR)
- Venue
- VIX (volatility index)
- Volatility of market prices
- Voluntary Retirement Package (VRP)
W
- Wachovia
- Walker, Paul L.
- Wal-Mart
- Washington Mutual
- Wellink, Nout
- West Texas Intermediate Oil versus Brent Crude Oil
- Whistle-blower protection under SOX
- Whitecotton, Connie
- William of Ockham’s razor
- WIlliams, Professor Cynthia
- Wood, D.
- World Bank
- WorldCom
- Worldscope
- Written notes of interviews
Y
- Y2K bug
- Yener, Demir
- Yield to maturity
- Yule, David
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