Fundamentals of Enterprise Risk Management

DENOUEMENT

In French, a denouement is the end of a complex sequence of events. To be more dramatic, it is the final outcome of the main dramatic complication in a literary work. So it is that our journey ends. What did we learn? First, risk is best managed in a framework of alignment with the business strategy, accountable risk owners, and a recognition that every risk may be accompanied by a opportunity. A central risk function and a knowledge of ERM are tools to identify and share exposures and opportunities. We learned about new and powerful technology to visualize risk relationships and document mitigation efforts. We looked at often-overlooked exposure with weaknesses in strategies, cultures, and leadership—risks that cross hierarchical ...