Unlock the incredible potential of enterprise risk managementThere has been much evolution in terms of ERM best practices, experience, and standards and regulation over the past decade. Enterprise Risk Management: Today's Leading Research and Best Practices for Tomorrow's Executives, Second Edition is the revised and updated essential guide to the now immensely popular topic of enterprise risk management (ERM). With contributions from leading academics and practitioners, this book offers insights into what practitioners are doing and what the future holds. You'll discover how you can implement best practices, improve ERM tools and techniques, and even learn to teach ERM. Retaining the holistic approach to ERM that made the first edition such a success, this new edition adds coverage of new topics including cybersecurity risk, ERM in government, foreign exchange risk, risk appetite, innovation risk, outsourcing risk, scenario planning, climate change risk, and much more. In addition, the new edition includes important updates and enhancements to topics covered in the first edition; so much of it has been revised and enhanced that it is essentially an entirely new book.Enterprise Risk Management introduces you to the concepts and techniques that allow you to identify risks and prioritize the appropriate responses. This invaluable guide offers a broad overview, covering key issues while focusing on the principles that drive effective decision making and determine business success. This comprehensive resource also provides a thorough introduction to ERM as it relates to credit, market, and operational risk, as well as the evolving requirements of the board of directors' role in overseeing ERM.Through the comprehensive chapters and leading research and best practices covered, this book:* Provides a holistic overview of key topics in ERM, including the role of the chief risk officer, development and use of key risk indicators and the risk-based allocation of resources* Contains second-edition updates covering additional material related to teaching ERM, risk frameworks, risk culture, credit and market risk, risk workshops and risk profiles and much more. Over 90% of the content from the first edition has been revised or enhanced* Reveals how you can prudently apply ERM best practices within the context of your underlying business activitiesFilled with helpful examples, tables, and illustrations, Enterprise Risk Management, Second Edition offers a wealth of knowledge on the drivers, the techniques, the benefits, as well as the pitfalls to avoid, in successfully implementing ERM.

Foreword to the Second Edition by Robert S. Kaplan Foreword to the First Edition by Robert S. KaplanPart I: Overview and Drivers of Enterprise Risk ManagementChapter 1: Enterprise Risk Management: An Introduction and OverviewChapter 2: A Brief History of Risk ManagementChapter 3: Strategic Risk Management: The Third ParadigmChapter 4: The Role of the Board of Directors and Senior Management in Enterprise Risk ManagementChapter 5: How to Teach Enterprise Risk Management: A Learner-Centered Activities ApproachChapter 6: The Role of the Board in Risk Management OversightPart II: Enterprise Risk Management, Culture, and ControlChapter 7: ERM FrameworksChapter 8: Becoming the Lamp Bearer: The Emerging Roles of the Chief Risk OfficerChapter 9: Creating a Risk-Aware CultureChapter 10: Key Risk IndicatorsChapter 11: Decision Risk ManagementChapter 12: Increasing Adoption of Enterprise Risk Management in the U.S. Federal GovernmentChapter 13: Toolmaking in Risk Management: The Case of Core Values and the Formalization of "Risk Appetite"Chapter 14: Incorporating Risk Acumen and Enterprise Risk Management into Innovation ApproachesChapter 15: Scenario Planning as an Enrichment of ERMChapter 16: Unconscious Bias and Risk ManagementChapter 17: Cognitive Bias: A Practical ApproachPart III: Enterprise Risk Tools and TechniquesChapter 18: Risk Appetite and Tolerance in Competitive StrategyChapter 19: How to Plan and Run a Risk Management WorkshopChapter 20: How to Prepare a Risk ProfileChapter 21: How to Allocate Resources Based on RiskChapter 22: Quantitative Risk Assessment in ERMChapter 23: Risk AppetiteChapter 24: Organizational Decision MakingChapter 25: The Challenges of and Solutions for Implementing Enterprise Risk ManagementPart IV: Types of RiskChapter 26: Market Risk Management and Common Elements with Credit Risk ManagementChapter 27: Credit Risk ManagementChapter 28: Operational Risk ManagementChapter 29: Managing Financial Risk and Its Interaction with Enterprise Risk ManagementChapter 30: Climate Change RiskChapter 31: Cybersecurity: Risks and GovernanceChapter 32: Foreign Exchange Risk ManagementChapter 33: Risk Management and OutsourcingChapter 34: Leveraging ERM for GrowthChapter 35: Commercial and D&O Insurance for Large CorporationsChapter 36: Managing Risk Associated with Project Delivery: A How-To GuidePart V: Special Topics and Case StudiesChapter 37: The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro OneChapter 38: Enterprise Risk Management in the Public Sector: A First Look at the U.S. Department of CommerceChapter 39: A Review of Academic Research on Enterprise Risk ManagementChapter 40: Lessons from the Academy: ERM Implementation in the University SettingChapter 41: Enterprise Risk Management: Lessons from the FieldChapter 42: Financial Reporting and Disclosure Risk ManagementChapter 43: Directors and Risk: Whither the Best Practices: Evidence from Canada