Strategic Risk Management Practice: How to Deal Effectively with Major Corporate Exposures

by Torben Juul Andersen , Peter Winther Schrøder

• ISBN13: 9780521114240
• ISBN10: 0521114241
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-04-12
• Publisher: Cambridge University Press

Summary

At a time when corporate scandals and major financial failures dominate newspaper headlines, the importance of good risk management practices has never been more obvious. The absence or mismanagement of such practices can have devastating effects on exposed organizations and the wider economy (Barings Bank, Enron, Lehmann Brothers, Northern Rock, to name but a few). Today's organizations and corporate leaders must learn the lessons of such failures by developing practices to deal effectively with risk. This book is an important step towards this end. Written from a European perspective, it brings together ideas, concepts and practices developed in various risk markets and academic fields to provide a much-needed overview of different approaches to risk management. It critiques prevailing enterprise risk management frameworks (ERMs) and proposes a suitable alternative. Combining academic rigour and practical experience, this is an important resource for graduate students and professionals concerned with strategic risk management.

Author Biography

Torben Juul Andersen is Professor at the Copenhagen Business School. He has taught financial economics and strategy at George Mason University and Johns Hopkins University. He previously held positions as Senior Consultant at PHB Hagler Bailly, Arlington; Senior Vice President at Unibank A/S; Managing Director at SDS Securities A/S, Copenhagen; and Vice President at Citibank/Citicorp Investment Bank, London. He is the author of numerous articles and books on strategy and risk management, including Global Derivatives (2005) and Currency and Interest Rate Hedging (1993). Peter Winther Schrder is a director at Saxo Bank A/S, Copenhagen where he is responsible for all risk management within the group. He has held various executive risk management positions in the banking, insurance and management services industries over the past twenty years where he gained comprehensive practical experience in all aspects of financial and operational risk management. He is also a part-time associate professor at the Copenhagen Business School.

Table of Contents

List of figures

List of tables

Preface

The strategic nature of corporate risk management

Economic exposures in corporate risk management

Managing market-related business exposures

Extending the risk management perspective

Integrative risk management perspectives

Current risk management practice and the rise of ERM

Strategic risk analyses

Strategic risk management - amendments to the ERM framework

Strategic risk management

Postscriptum

Appendix

Index

Table of Contents provided by Publisher. All Rights Reserved.