Enterprise Risk Management

Praise for Enterprise Risk Management, Second Edition "The concept that it takes a lifetime to build a company but that it takes moments to destroy it is a very valuable mantra for business leaders. The impact of the recent financial crisis brought that perspective into sharp and, for some, painful relief. Companies, however, need to innovate and grow and to take appropriate risks to do so. The joy of James Lam's new book is that it recognizes the need for innovation and growth but also acknowledges in a very practical way the role of the ever-evolving risk framework around that growth. The book offers a credible and implementable nexus between growth and risk control, and as such, will be a highly valued tool for boards and management everywhere." --Rodger A. Lawson, Chairman of the Board of Directors, E*TRADE Financial, Member of the Board of Directors, UnitedHealth Group, Retired President, Fidelity Investments "All too often, organizations focus on the process of risk management at the expense of incorporating risk management principles into the governance, leadership, and management of their enterprises. James Lam is a long-time leader in risk management and his substantial experience has enabled him to produce a comprehensive and practical guide for anyone committed to creating an organization capable of effectively evaluating risks versus returns." --Matthew R. Feldman, President and Chief Executive Officer, Federal Home Loan Bank of Chicago "A key success factor in any ERM program is practical and effective implementation. In order to provide sustainable, long-term enterprise value, risk management must be integrated into an organization's governance model, business analytics, strategic and tactical decisions, and dashboard reporting. Based on his hands-on experience, James Lam has very clearly outlined and articulated the best practices and implementation requirements for ERM. I highly recommend this book to anyone who is engaged in ERM oversight and implementation." --Paymon Aliabadi, Executive Vice President and Chief Risk Officer, Exelon Corporation