Thesis on enterprise risk management

To this end, qualitative research with an exploratory design was conducted.

Before companies can adopt a transformatory strategy, both companies require a fundamental understanding of strategic change that eventually can pave the way to good risk governance. The evidence from the study showed that while the ERM practices of organisations are between intermediate and mature levels, more work still needs to be done in order to institutionalise ERM. Under the second model strategic ERM risk management was incidental to formal planning and control, however, senior risk officers exercised agenda-setting power to influence the discussion of key strategic uncertainties. Three distinct types of risk managers emerged in both organisations, displaying characteristic aspirations and alliances risk silo specialists, risk capital specialists, senior risk officers. Some features of this site may not work without it. Twelve executives and senior managers across eight organisations, who are responsible for risk management and assurance of internal controls, were interviewed to uncover their distinctive insights regarding this phenomena. Enterprise Risk Management ERM has been considered as a way to achieve good risk governance to deal with both upside e. ERM appears to be an assembly of four risk management ideal types Risk Silo Management, Integrated Risk Management, Risk and Value Management, Strategic Risk Management , all of which aspire to be 'enterprise-wide', and together constituting the 'risk management mix' in a given organisation. Item Type:. The rich data that was unearthed was analysed using thematic analysis techniques. Other factors were identified which necessitate enhancement and sustainability of the ERM capability and formed the basis of a model for enterprise risk and control integration that was developed. Apart from the field material, the study draws on the normative- practitioner literature of risk management, as well as on a long strand of organisationally grounded studies of management control. To this effect, enterprise risk management ERM has been the topic of increased attention with regulatory, business and academic arenas alluding to the need for ERM and improved internal control systems.

To this effect, enterprise risk management ERM has been the topic of increased attention with regulatory, business and academic arenas alluding to the need for ERM and improved internal control systems.

The results of this research provided additional insights that will bolster the advancement of internal control management through ERM.

To this end, qualitative research with an exploratory design was conducted. Therefore, the aim of this study was to determine the extent to which organisations have implemented ERM, particularly those in the mining industry, and then understand the impact this ERM has on the internal control system. Some features of this site may not work without it. Under the second model strategic ERM risk management was incidental to formal planning and control, however, senior risk officers exercised agenda-setting power to influence the discussion of key strategic uncertainties. The results of this research provided additional insights that will bolster the advancement of internal control management through ERM. Item Type:. The politics of risk control and the presence of different calculative cultures in the organisations were tampered by contemporary corporate governance imperatives, such as the shareholder-value drive and the risk-based internal control imperative. The study explains the observations in terms of firm-specific factors and institutional pressures. The rich data that was unearthed was analysed using thematic analysis techniques. Show full item record Abstract The existence of complexity, uncertainty and ambiguity in current business environment promotes corporates need to establish good risk governance.

Therefore, the aim of this study was to determine the extent to which organisations have implemented ERM, particularly those in the mining industry, and then understand the impact this ERM has on the internal control system. Furthermore, ERM improves the internal control system of the organisation, however the maturity of the ERM process and the leadership in the organisation are big determinants of the extent to which the improvements can be realised.

Thesis on enterprise risk management

Some features of this site may not work without it. Adopting the cognitive lens of strategic change will not only enhance company specific risk-based capabilities but it will improve industry risk-based capabilities through development of professional competence.

This study, utilising case study material from seventy-five in-depth interviews with senior managers at two large banking groups, is a first step in exploring ERM in action.

However, very little is known of the roles that risk management plays in organizations and how it obtains organizational significance. The traditional practices of managing risks in silos has had implications on the internal control systems of organisations as the organisational focus has been on those directly related to financial operations and reporting. Furthermore, ERM improves the internal control system of the organisation, however the maturity of the ERM process and the leadership in the organisation are big determinants of the extent to which the improvements can be realised. The case studies highlight the issues within the two insurance companies both internally and externally in a nascent and a mature market. Mikes, Anette Enterprise risk management in action. Mixed research methods have been employed from a qualitative stand point to explore the research issues, consisting of two surveys in UK and India, over 50 interviews and two case studies in the Indian and UK insurance markets. Item Type:. To this effect, enterprise risk management ERM has been the topic of increased attention with regulatory, business and academic arenas alluding to the need for ERM and improved internal control systems. The rich data that was unearthed was analysed using thematic analysis techniques. Twelve executives and senior managers across eight organisations, who are responsible for risk management and assurance of internal controls, were interviewed to uncover their distinctive insights regarding this phenomena. Apart from the field material, the study draws on the normative- practitioner literature of risk management, as well as on a long strand of organisationally grounded studies of management control. Preview Download 8MB Preview Abstract The new Basel regulatory initiatives and a burgeoning risk management literature signify the rise of enterprise risk management ERM in the financial services sector. Enterprise Risk Management ERM has been considered as a way to achieve good risk governance to deal with both upside e. ERM appears to be an assembly of four risk management ideal types Risk Silo Management, Integrated Risk Management, Risk and Value Management, Strategic Risk Management , all of which aspire to be 'enterprise-wide', and together constituting the 'risk management mix' in a given organisation. The evidence from the study showed that while the ERM practices of organisations are between intermediate and mature levels, more work still needs to be done in order to institutionalise ERM.

The rich data that was unearthed was analysed using thematic analysis techniques. Other factors were identified which necessitate enhancement and sustainability of the ERM capability and formed the basis of a model for enterprise risk and control integration that was developed.

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Implementation of Enterprise Risk Management practices