Enterprise Risk Management: From Incentives to Controls

Successful risk management requires balance—of risk and reward, controls and culture, art and science. In the fully revised and updated Enterprise Risk Management: From Incentives to Controls, Second Edition, James Lam leads you on a thorough exploration of ERM from the unique perspective of one of the world’s foremost authorities on risk and business management. With an abundance of first-hand experience, Mr. Lam provides practical guidance from his work as a chief risk officer, a trusted board advisor and management consultant, and a public company director. Throughout the book, he provides case studies and real-world examples—every aspect of risk management is distilled and discussed—from the perspective of highly effective and proven corporate leadership.

Business executives and risk management professionals are tasked with identifying and taking intelligent risks. In this book, Mr. Lam explains how an over-reliance on quantitative risk measurement has directly contributed to some of the high-profile risk management failures of recent years. Most risk models are simply incapable of accurately predicting the complex scenarios that could lead to financial disaster, which is why Enterprise Risk Management: From Incentives to Controls, Second Edition posits that your company’s risk profile—and ultimately the success or failure of its risk management strategy—is driven by the decisions and actions of its leadership and employees.

Based on direct experience with more than 50 ERM programs, Mr. Lam explains how to establish best practices and overcome common barriers. In this updated Second Edition, a new section dedicated entirely to ERM Implementation articulates the importance of effective board risk oversight, risk assessment, risk-based decision making, and risk dashboard reporting in a way that is accessible for board members, business executives, risk professionals as well as their employees and stakeholders. Enterprise Risk Management: From Incentives to Controls, Second Edition takes you far beyond quantitative risk measurement and predictive modeling to a comprehensive understanding of how to build and nurture a corporate culture that encourages successful enterprise risk management.

Praise for Enterprise Risk Management, Second Edition

“The concept that it takes a lifetime to build a company but that it takes moments to destroy it is a very valuable mantra for business leaders. The impact of the recent financial crisis brought that perspective into sharp and, for some, painful relief. Companies, however, need to innovate and grow and to take appropriate risks to do so. The joy of James Lam’s new book is that it recognizes the need for innovation and growth but also acknowledges in a very practical way the role of the ever-evolving risk framework around that growth. The book offers a credible and implementable nexus between growth and risk control, and as such, will be a highly valued tool for boards and management everywhere.”
—Rodger A. Lawson, Chairman of the Board of Directors, E*TRADE Financial, Member of the Board of Directors, UnitedHealth Group, Retired President, Fidelity Investments

“All too often, organizations focus on the process of risk management at the expense of incorporating risk management principles into the governance, leadership, and management of their enterprises. James Lam is a long-time leader in risk management and his substantial experience has enabled him to produce a comprehensive and practical guide for anyone committed to creating an organization capable of effectively evaluating risks versus returns.”
—Matthew R. Feldman, President and Chief Executive Officer, Federal Home Loan Bank of Chicago

“A key success factor in any ERM program is practical and effective implementation. In order to provide sustainable, long-term enterprise value, risk management must be integrated into an organization’s governance model, business analytics, strategic and tactical decisions, and dashboard reporting. Based on his hands-on experience, James Lam has very clearly outlined and articulated the best practices and implementation requirements for ERM. I highly recommend this book to anyone who is engaged in ERM oversight and implementation.”
—Paymon Aliabadi, Executive Vice President and Chief Risk Officer, Exelon Corporation

"Sobre este título" puede pertenecer a otra edición de este libro.