Fundamentals of Risk Management

Understanding, Evaluating and Implementing Effective Enterprise Risk Management

Edition: 6 Date: 03/12/2021 Price: £44.99 ISBN Paperback: 9781398602861 ISBN Ebook: 9781398602878 Pages: 472 Format (mm): 240x170 Product Category: Textbook/Professional Subject: Risk Management

Author Information

Clive Thompson was founding Chair of the Professional Standards and the Interest Group Committees of the Institute of Risk Management where he served on the board and was Deputy Chair until 2020. Based in West Sussex, UK, he has been a risk manager and consultant delivering projects globally. He is a Certified Fellow of the IRM.

Paul Hopkin was Technical Director at the Institute of Risk Management (IRM) and held the same role at Airmic. He was previously Director of Risk Management for The Rank Group and prior to that Head of Risk Management at the BBC. He is a Certified Fellow of the IRM.

The IRM is a world leading professional body for risk management, driving excellence in managing risk to ensure organizations are ready for opportunities and threats of the future. « Details regulatory developments affecting risks to reputation, the business model and strategy, along with improvements in risk management documentation and statutory risk reporting for assurance and reporting purposes « Provides relevant international case studies including BP, Singapore Airlines and Darktrace « New to this edition: updates throughout and new content on cyber, black swan events (such as

COVID-19) and climate risk « Covers developments in enterprise risk management (ERM), loss control and the value of insurance as a risk management method· « Online resources: lecture slides with figures, tables and key points from the book

Description

Effective risk management allows opportunities to be maximized and uncertainty to be minimized. This guide for emerging professionals provides a comprehensive understanding of risk management with tools, tips and tactics on how to offer expert insights and drive success.

Fundamentals of Risk Management is a detailed and comprehensive introduction to commercial and business risk for students and risk professionals. Completely aligned with ISO 31000 and the COSO ERM Framework, this book covers the key principles of risk management and how to deal with the different types of risk organizations face. The frameworks of business continuity planning, enterprise risk management, and project risk management are covered alongside an overview of international risk management standards and frameworks, strategy and policy.

The revised sixth edition includes updates throughout as well as providing new content on trends such as cyber risk, black swan events and climate risk. Supported by relevant international case examples including BP, Singapore Airlines and Darktrace, this book provides a full analysis of changes in contemporary risk areas including digital risk management, risk culture and appetite, supply chain and statutory risk reporting. Supporting online resources include lecture slides with figures, tables and key points from the book.

Table of Contents

1 Introduction to Risk

Management

1 Approaches to Defining Risk 2 Impact of Risk on

Organizations 3 Types of Risks 4 Scope of Risk Management 5 Principles and Aims of Risk

Management

2 Approaches to Risk

Management

3 Risk Management Standards 4 Establishing the Context 5 Enterprise Risk Management 6 Alternative Approaches

3 Risk Assessment

4 Risk Assessment

Considerations 5 Risk Classification Systems 6 Risk Analysis and Evaluation 7 Loss Control 8 Defining the Upside of Risk

4 Risk Response

5 Tolerate, Treat, Transfer and terminate 6 Risk Control Techniques 7 Insurance and Risk Transfer 8 Business Continuity

5 Risk Strategy

6 Core Business Processes 7 Reputation and the Business

Model 8 Risk Management Context 9 Risk Management

Responsibilities 10 Control of Selected Hazard

Risks

6 Risk Culture

7 Risk-Aware Culture 8 Importance of Risk Appetite 9 Risk Training and

Communication 10 Risk Practitioner

Competencies

7 Risk Governance

8 Corporate Governance Model 9 Stakeholder Expectations 10 Operational Risk Management 11 Project Risk Management 12 Supply Chain Management

8 Risk Assurance

9 The Control Environment 10 Risk Assurance Techniques 11 Internal Audit Activities 12 Reporting on Risk

Management