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Empowered Enterprise Risk Management
Theory and Practice

Hakan Jankensgard (Author), Petter Kapstad (Author)

9781119700159, Wiley

Hardback, published 28 January 2021

224 pages
23.4 x 16 x 2.3 cm, 0.476 kg

In this book, two experts on the topic raise the question of why many ERM programmes end up as box-checking silos with almost no connection to important decision-making processes, whereas others are empowered and end up having a profound impact on the firm’s culture, governance structures, and strategy process. The book establishes a path to empowered ERM by drawing on insights from theory and hard-won lessons from practice. Success factors enabling this transition are thoroughly discussed in a start-to-finish narrative describing the theoretical underpinnings of ERM, its proven best practices, and onto more advanced topic such as risk budgeting and the integration of ERM into strategic decision-making.

Preface ix

Chapter 1: Introduction to Empowered Enterprise Risk Management 1

Chapter 2: Risk Defined 12

Chapter 3: Risk Theory 29

Chapter 4: Risk Culture 46

Chapter 5: Risk Governance 60

Chapter 6: Risk Register 78

Chapter 7: Risk Response 95

Chapter 8: Risk Appetite 116

Chapter 9: Risk Budgeting 132

Chapter 10: Risk Strategy 148

Chapter 11: Risk in Practice: The Case of Equinor 166

Chapter 12: Concluding Remarks 191

Bibliography 199

Acknowledgements 203

Index 205

Subject Areas: Business & management [KJ]

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