Mastering 21st Century Enterprise Risk Management : Firing Dated Practices | The Best Practice of ERM | Implementation Secrets

Risk management has traditionally focused on the downside-the "e;what if"e;-of risk: "e;What if I get audited; will my documentation be in order? What if someone gets hurt?"e; Risk has also traditionally been as siloed in many organizations, each functional area requiring its own unique parameters. Accounting and Finance are concerned with financial regulations; manufacturing is concerned about safety and equipment validation; etc. Each used a different method of risk management to help them meet regulatory requirements and stay out of trouble. Not only was IT application management a nightmare, but the siloed, stay-out-of-trouble approach to risk management drove inefficiency up and shareholder value down. Modern risk management philosophy goes beyond "e;staying out of trouble."e; It incorporates the upside of risk-the people and process efficiencies that result when a holistic risk management framework is integrated into all aspects of the business and aligned to specific business objectives. Investments in risk management must produce a good return. In this book you'll learn why many risk management systems are broken and what needs to be done to fix them. Whether you're new to risk management or a seasoned veteran, you'll learn effective approaches and emerging models that are backed by real-world examples. Welcome to 21st century risk management.