Enterprise Risk Management (Portfolio 5303)


William Shenkir

William Stamps Farish Professor Emeritus

UVA, McIntire School of Commerce


Paul Walker

James J. Schiro / Zurich Chair in Enterprise Risk Management and Executive Director, Center for Excellence in ERM

St. John's University

At a glance

I. Introduction, Background, and Scope of Portfolio

II. Foundational Elements of Enterprise Risk Management

III. Risk Measurement

IV. Integrating Enterprise Risk Management With Ongoing Management Activities

V. Enterprise Risk Management and Regulatory Requirements

VI. International Frameworks and Regulations Related to Enterprise Risk Management

VII. Assessing Enterprise Risk Management in a Globally Competitive Market


Bloomberg Tax & Accounting Portfolio 5303-2nd, Enterprise Risk Management, analyzes a methodology that companies of all sizes can adopt to identify, assess, and manage risk. Throughout this Portfolio steps and examples from organizations are provided to assist companies in both implementing ERM and in improving or benchmarking ERM.

Companies increasingly operate in a volatile business environment. Accordingly, managing risk must take an enterprisewide perspective, focusing on strategic, operational, and financial risks in addition to the traditional attention to hazard risk. While enterprise risk management is not a mathematical exercise, the measurement of risk is important.

The Portfolio examines various assessment approaches, from qualitative to quantitative. The Portfolio discusses how enterprise risk management can be integrated with other management initiatives such as strategic planning, merger and acquisition evaluations, the balanced scorecard, budgeting, internal auditing, crisis management, and corporate governance.

The Sarbanes-Oxley Act created new requirements for disclosures related to financial reporting. In addition, the Securities and Exchange Commission has required registrants to disclose more information on risk factors of their business. Additionally, the SEC added board risk oversight disclosures in 2009. The Portfolio discusses these and other regulatory requirements and how companies can employ ERM in complying with them. Enterprise risk management is not merely a United States phenomenon; companies in other countries are advanced in their implementation of it. The Portfolio examines the regulatory requirements and disclosures for a number of these countries.

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