Making enterprise risk management pay off

✍ Scribed by Thomas L. Barton, William G. Shenkir, Paul L. Walker

• Publisher: FT Press
• Year: 2002
• Tongue: English
• Leaves: 265
• Series: Financial Times Prentice Hall books
• Edition: 1
• Category: Library

✦ Synopsis

Making Enterprise Risk Management Pay Off shows how top companies are transforming risk management into an integrated, continuous, broadly focused discipline that identifies and assesses risks more effectively, responds more precisely, and discovers not just "downsides" but breakthrough opportunities as well. Through five wide-ranging case studies - Chase Manhattan, Microsoft, DuPont, Unocal, and United Grain Growers - you'll learn powerful new risk management techniques that span the entire enterprise, and deliver unprecedented business value.

✦ Table of Contents

Making Enterprise Risk Management Pay Off......Page 2
Copyright 2002 Financial Executives Research Foundation, Inc.......Page 3
Contents......Page 8
CHAPTER 1 Introduction......Page 9
An Abundance of Uncertainty......Page 10
New Risk Management Paradigm......Page 12
Studies of Risk Management......Page 14
Objectives and Approach of This Study......Page 15
Organization of This Study......Page 16
Endnotes......Page 17
CHAPTER 2 Lessons Learned
From Case Studies......Page 19
Risk Identification Process......Page 20
Risk Measurement......Page 23
Risk Response Strategies......Page 28
Risk Integration......Page 29
Driving Risk Awareness Throughout the Organization......Page 31
Risk Infrastructure......Page 36
Champions of Enterprise-wide Risk Management......Page 38
Concluding Comments......Page 40
Endnotes......Page 41
Company Background......Page 43
Chase Manhattan Today......Page 49
Risk at Chase Manhattan......Page 53
Shareholder Value-Added......Page 57
Market Risk......Page 60
Credit Risk......Page 64
Operating Risk......Page 69
Case Summary......Page 74
People Interviewed......Page 75
Endnotes......Page 76
Appendix 3.1 Company Description of Market Risk and Its Measurement......Page 79
Appendix 3.2 Operating Risk Guidelines......Page 83
Appendix 3.3 Example of COSO-Based Self-Assessment Program (excerpted)......Page 86
Company Background......Page 101
Current Status of Risk Management......Page 104
Risk Integration......Page 109
Focus on Earnings......Page 112
Becoming World Class in Financial Risk Management......Page 114
Case Summary......Page 124
People Interviewed......Page 125
Endnotes......Page 126
Company Background......Page 127
Financial Risk Management......Page 131
Business Risk Management......Page 135
Identifying Business Risks Through Scenario Analysis......Page 140
Measuring and Prioritizing Business Risk......Page 143
Awards for Risk Management......Page 146
Case Summary......Page 147
Endnotes......Page 148
Company Background......Page 151
The Road to Enterprise-wide Risk Management......Page 154
Strategic Risk Management Project......Page 159
Integrated Risk Financing......Page 168
Risk Management Infrastructure......Page 171
Case Summary......Page 173
Reference......Page 174
CHAPTER 7 Unocal Corporation......Page 175
Company Background......Page 176
Unocal in 2000......Page 177
The Nature of Risk at Unocal......Page 182
Deepwater Operations......Page 187
Origins of Enterprise-wide Risk Management......Page 190
Risk Profiles......Page 192
Risk Management as Cultural Change......Page 206
People Interviewed......Page 210
Endnotes......Page 211
Appendix 7.1 Spirit Energy 76 Risk Profile (excerpted)......Page 214
Appendix 7.2 Planning and Risk Profile Evaluation, Unocal Geothermal Indonesia (excerpted)......Page 220
Appendix 7.3 Risk Profile Evaluation, Unocal Geothermal Indonesia (excerpted)......Page 224
CHAPTER 8 Conclusion......Page 227
The Study Companies......Page 228
Elements of Risk Management......Page 229
Assessing Your Organization......Page 230
Endnotes......Page 232
2 Organization Structure......Page 233
3 Assess Risks (identify, source, prioritize)......Page 234
4 Develop Risk Strategies (avoid, transfer, control, accept)......Page 235
6 Role of Key Executives and Committees......Page 236
8 General......Page 237
APPENDIX B References......Page 239
Books and Reports......Page 243
Articles......Page 253
About the Authors......Page 255
Acknowledgments......Page 257
Index......Page 259