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Fundamentals of Enterprise Risk Management by John J. HAMPTON

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CHAPTER 6IMPLEMENTING ERM

RISK QUOTE: The secret of life is honesty and fair dealing. if you can fake that, you’ve got it made.

—GROUCHO MARX, COMEDIAN AND MOVIE STAR

RISK QUOTE: I wake up every morning at nine and grab for the morning paper. Then I look at the obituary page. If my name is not on it, I get up.

—BENJAMIN FRANKLIN, SCIENTIST,PUBLISHER, AND DIPLOMAT

As organizations evaluate the implementation of an ERM program, the discussion can quickly bog down. Should the entity form a central risk committee, hire a chief risk officer, or bring in outside consultants to set up a program? What should be the reporting structure? In this chapter, we look at research on the status of ERM implementation and conclude with a checklist of questions ...

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