Overview of Enterprise Risk Management
Poole College of Management Faculty: Mark Beasley or Bruce Branson
Offered: Summer and Fall Semesters
Enterprise Risk Management (ERM) is an integrated process of identifying, assessing and managing the overall risks of an organization that provides a broader framework for managing risk while maximizing shareholder value in the today’s complex environment. Effective ERM is based on policies and processes that are established by Boards of Directors and C-level managers. In addition, many of the most threatening risks faced by organizations are strategic in nature and can only be addressed at the top level of the organization, e.g., failures of corporate governance and ethics, increasing global competition, and threats of global catastrophe such as terrorism, pandemics, and collapse of environmental systems. Effective ERM requires informed and strategic decisions supported by operational processes and tools such as internal controls, effective audits, and effective measurement and reporting systems including external financial reporting.
This Overview of Enterprise Risk Management course (MBA 518) exposes students to techniques all types of organizations are implementing to manage the ever-increasing portfolio of risks threatening the organization’s business model and strategic plan. The course begins with obtaining an understanding of the growing expectations being placed on boards of directors and senior executives for more effective oversight of risks and then we walk through the core elements of an ERM process entities use to identify, assess, manage, and monitor its most important risks to their business model.
Students complete a number of case assignments involving real-world companies and they conduct research about emerging risk management issues.
Enterprise Risk Management Library:
- Enterprise Risk Management Basics
- Risk Management Fundamentals
- Risk Management Leadership
- Risk Management Benchmarking
- Risk Management Trends