Enterprise risk management: A best practice approach

2008 ◽  
Vol 19 (3) ◽  
pp. 19-33 ◽  
Author(s):  
Sebastian Francis ◽  
Bob Paladino
Keyword(s):  
Risk Management ◽  
Best Practice ◽  
Enterprise Risk Management ◽  
Enterprise Risk ◽  
Practice Approach

Enterprise Risk Management from the General Insurance Actuarial Perspective

2008 ◽  
Vol 14 (3) ◽  
pp. 433-525 ◽  
Author(s):  
M. H. Tripp ◽  
C. Chan ◽  
S. Haria ◽  
N. Hilary ◽  
K. Morgan ◽  
...  
Keyword(s):  
Risk Management ◽  
Best Practice ◽  
Corporate Strategy ◽  
Enterprise Risk Management ◽  
The United Kingdom ◽  
General Insurance ◽  
Enterprise Risk ◽  
On Line ◽  
The Subject ◽  
Future Work

ABSTRACTThe authors have reviewed over 60 texts on the subject of Enterprise Risk Management (ERM). In this paper they set out a summary of ERM based on three of those sources, selected for their relevance and breadth of view. The paper observes that the approaches described vary widely in nature. A separate ‘on-line” source is provided, which summarises key readings from the 60 texts. Combining findings from these texts with the authors' own experiences, the paper suggests some best practice checklists, designed to enable organisations to take stock of their current ERM frameworks. It discusses other aspects of ERM for practitioners, including extreme events, opportunity management and the link with corporate strategy. The paper looks at immediate and longer-term implications for actuaries in the United Kingdom, and then poses questions about future professional development and education. It suggests an emerging role for the ‘ERM actuary’, and, finally, it suggests future work to progress the development of ERM and the actuaries' role.

scholarly journals Risk Management Support and Organizational Performance: The Role of Enterprise Risk Management as Mediator

2017 ◽  
Vol 2 (2) ◽  
pp. 43
Author(s):  
Azreen Roslan ◽  
Nur Diyana Yusoff ◽  
Hayati Mohd Dahan
Keyword(s):  
Risk Management ◽  
Organizational Performance ◽  
Best Practice ◽  
Enterprise Risk Management ◽  
Senior Management ◽  
Mediating Effect ◽  
Management Support ◽  
Enterprise Risk ◽  
Economic Reality

Risk is inherent in all parts of the organization and if it is not efficiently managed by the senior management it will affect the confidence and expectations of the stakeholders. Enterprise Risk Management (ERM) is said as a best practice technique to evaluate and manage all these risks in this new economic reality. Therefore, organizations practicing ERM are more prepared in managing the feasible threats. In fact, there is a general consensus by scholars and researchers that organizations practicing ERM will improve the organizational performance. However, empirical evidence regarding this matter is still considered scarce. As such, the purpose of this paper is to investigate the mediating effect of ERM on risk management support and organizational performance among public listed companies.

scholarly journals Enterprise Risk Management between Network Capacity and Performance of Public Higher Education: A Proposed Framework

2019 ◽  
Vol 8 (2S3) ◽  
pp. 410-413
Keyword(s):  
Higher Education ◽  
Risk Management ◽  
Best Practice ◽  
Network Capacity ◽  
Enterprise Risk Management ◽  
Management Technique ◽  
Public Higher Education ◽  
Enterprise Risk ◽  
Potential Risks ◽  
And Performance

Most of the countries and organizations were implementing Enterprise Risk Management or known as ERM as it is already been introduced many years ago because it gives positive contributions towards the performance. It is also a way to help organizations manage the risks to achieving better results. About ten years ago, it has been implemented in Malaysia and being recommended to use it as a tool in an organization in order to recover the potential risks. ERM is regarded as an effective risk management technique and rapidly becomes the standard of best practice. Therefore, the variables that will affect the ERM implementation in an organization should be taken into account. Hence, this paper aim to propose a framework that will explains the relationship between network capacity and organization’s performance. This relationship will be mediated by ERM implementation and this paper will be focusing on Malaysian Public Higher Education, which are 20 institutions that listed under the Ministry of Higher Education (MOHE).

Effect of Enterprise Risk Management on Firm Value: Empirical Evidence from Non-Financial Firms in Pakistan

GIS Business ◽  
1970 ◽  
Vol 13 (2) ◽  
pp. 15-28
Author(s):  
Nouman Nasir
Keyword(s):  
Risk Management ◽  
Firm Value ◽  
Positive Impact ◽  
Stock Exchange ◽  
Enterprise Risk Management ◽  
Least Square ◽  
Return On Equity ◽  
Financial Firms ◽  
Enterprise Risk ◽  
Ordinary Least Square Regression

This research examines the effect of enterprise risk management on firm value in Pakistan. Further, this study empirically examines company characteristics that establish the execution of an enterprise risk management system. Using a sample of final dataset of 83 non-financial firms located in Pakistan. The sample included non-financial firms from the year 1999 to 2015 and so up to seventeen observation years per company. As in context of Pakistan, most of the organizations are already implement an ERM programs and establish specialized ERM departments because the ERM is now a global term and has become increasingly relevant because of the growing difficulty of risk and an additional development of regulatory frame works. For the empirical evidences, data collected from non-financial firms listed at the Pakistan Stock Exchange (PSX). Results of logistic regression shows that Capital Opacity, Profitability, Financial Leverage, Firm Size and Slack have positive impact on the implementation of an ERM system but Industrial diversification, Industry and Return on Equity are negatively related to an ERM engagement. The results of ordinary least square regression finds positive relationship between use of an ERM and firm value.

MODELLING AND CONTROLLING THE ENTERPRISE RISKS COMPLEX ASSESSMENT SYSTEMON THE BASIS OF RUSSIAN STATE STANDARD ISO 9001-2015 CONCERNING RISK-ORIENTED THINKING. GENERAL PROBLEMS AND WAYS OF SOLVING THEM

2020 ◽  
Vol 2020 (2) ◽  
pp. 33-41
Author(s):  
Irina Merzlyakova ◽  
Aleksandr Feofanov
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
State Standard ◽  
Control Model ◽  
Enterprise Risk Management ◽  
Iso 9001 ◽  
Management Procedure ◽  
Russian State Standard ◽  
Russian State ◽  
Enterprise Risk

The article considers general problems of implementing the enterprise risk management procedure. One of the ways to solve the problems arising when meeting Russian state standard ISO 9001-2015 requirements concerning risk-oriented thinking is presented. A risk assessment control model aimed at coordinating all kinds of the enterprise departments activities, forming a clear algorithm of risk management procedure implementation and attracting a greater number of employees towards this activity is offered.

Firm Ownership and Enterprise Risk Management: Evidence from a Developing Country

2020 ◽  
Vol 24 (02) ◽  
pp. 3679-3689
Author(s):  
Ooi Chee Keong ◽  
Abdurrahman Adamu Pantamee ◽  
Shafi Mohamad ◽  
Kwong Wing Chong Garrett
Keyword(s):  
Risk Management ◽  
Developing Country ◽  
Enterprise Risk Management ◽  
Firm Ownership ◽  
Enterprise Risk
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