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• Cover
• Title Page
• Copyright
• Dedication
• Preface
• Overview of the Book
• Suggested Chapters by Audience
• Acknowledgments
• Part One: ERM in Context
• Chapter 1: Fundamental Concepts and Current State
• Introduction
• What Is Risk?
• What Does Risk Look Like?
• Enterprise Risk Management (ERM)
• The Case for ERM
• Where ERM Is Now
• Where ERM Is Headed
• Notes
• Chapter 2: Key Trends and Developments
• Introduction
• Lessons Learned from the Financial Crisis
• The Wheel of Misfortune Revisited
• Global Adoption
• Notes
• Chapter 3: Performance-Based Continuous ERM
• Introduction
• Phase Three: Creating Shareholder Value
• Performance-Based Continuous ERM
• Case Study: Legacy Technology
• Notes
• Chapter 4: Stakeholder Requirements
• Introduction
• Stakeholders Defined
• Managing Stakeholder Value with ERM
• Implementing a Stakeholder Management Program
• Appendix A: Reputational Risk Policy
• Notes
• Part Two: Implementing an ERM Program
• Chapter 5: The ERM Project
• Introduction
• Barriers to Change
• Establish the Vision
• Obtain Buy-In from Internal Stakeholders
• Assess Current Capabilities Against Best Practices
• Develop a Roadmap
• Appendix A: ERM Maturity Model
• Appendix B: Practical Plan for ERM Program Implementation
• Chapter 6: Risk Culture
• Introduction
• Risk Culture Success Factors
• Best Practice: Risk Escalation
• Conclusion
• Notes
• Chapter 7: The ERM Framework
• Introduction
• The Need for an ERM Framework
• ERM Framework Criteria
• Current ERM Frameworks
• An Update: The Continuous ERM Model
• Developing a Framework
• Conclusion
• Notes
• Part Three: Governance Structure and Policies
• Chapter 8: The Three Lines of Defense
• Introduction
• COSO’s Three Lines of Defense
• Problems with This Structure
• The Three Lines of Defense Revisited
• Bringing It All Together: How the Three Lines Work in Concert
• Conclusion
• Notes
• Chapter 9: Role of the Board
• Introduction
• Regulatory Requirements
• Current Board Practices
• Case Study: Satyam
• Three Levers for ERM Oversight
• Conclusion
• Notes
• Chapter 10: The View from the Risk Chair
• Introduction
• Turnaround Story
• The GPA Model in Action
• Top Priorities for the Risk Oversight Committee
• Conclusion
• Notes
• Chapter 11: Rise of the CRO
• Introduction
• History and Rise of the CRO
• A CRO’s Career Path
• The CRO’s Role
• Hiring a CRO
• A CRO’s Progress
• Chief Risk Officer Profiles
• Notes
• Chapter 12: Risk Appetite Statement
• Introduction
• Requirements of a Risk Appetite Statement
• Developing a Risk Appetite Statement
• Roles and Responsibilities
• Monitoring and Reporting
• Examples of Risk Appetite Statements and Metrics
• Notes
• Part Four: Risk Assessment and Quantification
• Chapter 13: Risk Control Self-Assessments
• Introduction
• Risk Assessment: An Overview
• RCSA Methodology
• Phase 1: Setting the Foundation
• Phase 2: Risk Identification, Assessment, and Prioritization
• Phase 3: Deep Dives, Risk Quantification, and Management
• Phase 4: Business and ERM Integration
• ERM and Internal Audit Collaboration
• Notes
• Chapter 14: Risk Quantification Models
• Introduction
• Market Risk Models
• Credit Risk Models
• Operational Risk Models
• Model Risk Management
• The Loss/Event Database
• Early Warning Indicators
• Model Risk Case Study: AIG
• Notes
• Part Five: Risk Management
• Chapter 15: Strategic Risk Management
• Introduction
• The Importance of Strategic Risk
• Measuring Strategic Risk
• Managing Strategic Risk
• Appendix A: Strategic Risk Models
• Notes
• Chapter 16: Risk-Based Performance Management
• Introduction
• Performance Management and Risk
• Performance Management and Capital
• Performance Management and Value Creation
• Summary
• Notes
• Part Six: Risk Monitoring and Reporting
• Chapter 17: Integration of KPIs and KRIs
• Introduction
• What Is an Indicator?
• Using Key Performance Indicators
• Building Key Risk Indicators
• KPI and KRI Program Implementation
• Best Practices
• Conclusion
• Notes
• Chapter 18: ERM Dashboard Reporting
• Introduction
• Traditional Risk Reporting vs. ERM Dashboard Reporting
• General Dashboard Requirements
• Implementing ERM Dashboards
• Avoid Common Mistakes
• Best Practices
• Notes
• Chapter 19: Feedback Loops
• Introduction
• What Is a Feedback Loop?
• Examples of Feedback Loops
• ERM Performance Feedback Loop
• Measuring Success with the ERM Scorecard
• Notes
• Part Seven: Other ERM Resources
• Chapter 20: Additional ERM Templates and Outlines
• Introduction
• Strategic Risk Assessment
• CRO Report to the Risk Committee
• Cybersecurity Risk Appetite and Metrics
• Model Risk Policy
• Risk Escalation Policy
• Notes
• About the Author
• Index
• End User License Agreement