ERM - Enterprise Risk Management

PROFESSOR JEAN-PAUL LOUISOT, ARM, FIRM, holds a Mining Engineering Degree, a Master in Economics and an MBA from the Kellogg School of Management and is a member of Beta Gamma Sigma. He has worked in risk management for nearly forty years, as a broker, an underwriter and a risk-manager. Since 1993, his activity focuses on teaching and coaching postgraduate students and risk management professionals, while still acting as a part-time risk manager for several clients developing ERM programmes. As curriculum director for CARM Institute, Ltd, he supervises the ARM and EFARM (European Fellow in Applied Risk Management) programmes. After nine years at Paris 1 Panthéon Sorbonne University, he now teaches postgraduate courses in Risk Management at the Institut Catholique de Lille and in various universities, including the IACA in Vienna. He is a frequent speaker at professional conferences in Europe, in Australia, and in the USA. He has published a number of articles and studies on risk management and developed the first edition of the ERM course at The Institutes. He is currently working on his Doctorat en sciences de Gestion at University Paris 1 Panthéon Sorbonne and plans to complete this in 2014.CHRISTOPHER KETCHAM, Ph.D., CPCU, CFP®, CIC, CRM, CISR, recently retired as Visiting Assistant Professor at the University of Houston Downtown’s College of Business Insurance and Risk Management department. While at UHD, Chris developed and taught seven courses for the new online curriculum for insurance and risk management undergraduate majors in this AACSB accredited school. Chris consults with industry and independent insurance agent communities on areas of practical risk management, ethics, and strategic planning. With Jean-Paul Louisot he was co-editor of the first edition of the textbook Enterprise-Wide Risk Management: Developing and Implementing published by The Institutes for their ARM-E designation. Chris’s work in ethics extends to issues associated with emerging technologies such as private space exploration.

• Contributor List viiAbout the Editors ixAcknowledgements xIntroduction xiISO 31000 and Guide 73: 2009 Select Terms and Their Definitions xviiPart I Erm Articles 11 Establishing the Internal and External Contexts 31.1 Managing Risks to Enable Strategy 3Jean-Paul Louisot and Christopher Mandel1.2 Strategy, Constraint, Risk Management and the Value Chain 12Christopher Ketcham and Kevin W. Knight1.3 The Risk of Group Decision Making within Organizations: A Synthesis 19Daniel A. Gaus2 Risk Assessment 412.1 Risk Quantification: Cornerstone for Rational Risk Management 41Jean-Paul Louisot, Laurent Condamin and Patrick Naim2.2 Brief Overview of Cindynics 48Georges-Yves Kervern and Jean-Paul Louisot2.3 Risk Assessment or Exposure Diagnostic 56Jean-Paul Louisot2.4 Managing the Collection of Relevant Data for an ERM Program: The Importance of Efficient and Neutral Questionnaires 84Sophie Gaultier-Gaillard2.5 Enterprise Risk Analytics Systems 96Richard Connelly and Jean-Paul Louisot2.6 Emerging Enterprise Risks Facing the US Healthcare Industry 103Robert L. Snyder3 Select and Implement the Appropriate Risk Management Technique 1093.1 Risk to Reputation 109Sophie Gaultier-Gaillard, Jean-Paul Louisot and Jenny Rayner3.2 Disturbance Management 123Jean-Paul Louisot4 Monitor Results and Revise 1354.1 Business Ethics and Risk Management 135Marc Ronez4.2 Governance, Risk, Compliance: The New Paradigm of Risk Management 146Jean-Paul Louisot5 Communicate and Consult 1555.1 Communication as a Risk Mitigation Tool 155Jean-Paul LouisotPart II Case Studies 1636 Case Study Protocol 1657 Case Study: Risk Management Implementation in China 167Duojia (Doug) Lu8 Case Study: Agreeing Upon the Scope of the Project and the Job of the ERM Risk Manager 187Christopher Ketcham9 Case Study: Wellcome Trust 191Fiona Davidge Interviewed by Jean-Paul Louisot10 Case Study: Large Health Insurer in the US 199Anonymous Interviewed by Christopher Ketcham11 Case Study: Three Steps for Bringing Risk Management Back in House 217Renee Reimer Interviewed by Christopher Ketcham12 Case Study: University of California 229Grace Crickette Interviewed by Christopher Ketcham13 Case Study: Managing Risk at the OPAC du Rhône 241Samiha Viand Interviewed by Jean-Paul LouisotERM References for Practitioners 249Further Reading 253Index 255

Select Guide Rating