Mastering 21st Century Enterprise Risk Management - Firing Dated Practices | The Best Practice of ERM | Implementation Secrets

The world's top ERM thinkers say that enterprise risk management practices are not up to expectations. 'Basic risk indicators and standard formula are ultimately a very blunt model,' observed the actuarial firm Milliman; ''Corporations have to rethink their approach to risk from every aspect of their business,' said KPMG international, in a report showing about 50% of enterprises don't know their overall exposure; and ''The risk management landscape has vastly changed over the last 10 years, and Op Risk models need to keep pace,' agreed the world's top ERM thinkers at the various OpRisk conference. That's the starting point for this book by Gregory Carroll, a veteran of hundreds of enterprise risk management system implementations -- including many in life-and-death environments like the Australian Department of Defence. Carroll cites Ford Australia, Queensland Health, Ansett Airlines, and other examples of failed 20th century risk practices; then gives practical guidance on implementing a risk management system that makes the enterprise more nimble, more competitive, and, ultimately, more valuable to shareholders.