Risk Management at Board Level : A Practical Guide for Board Members / Vinay Kalia, Roland Müller

Format:

Book

Contributor:

Kalia, Vinay, Editor.

Müller, Roland, Editor.

Series:

VR- und GL-Praxis

VR- und GL-Praxis 3

Language:

English

Subjects (All):

Betriebswirtschaft.

Unternehmensführung.

Risk Management.

Verwaltungsrat.

Geschäftsleitung.

Risikomanagement.

Board member.

Local Subjects:

Betriebswirtschaft.

Unternehmensführung.

Risk Management.

Verwaltungsrat.

Geschäftsleitung.

Risikomanagement.

Board member.

Physical Description:

1 online resource (199 pages)

Edition:

3rd ed.

Place of Publication:

Bern Haupt 2022

Summary:

Risk Management today has moved from being the topic of top level conferences and media discussions to being a permanent issue in the board and top management agenda. Several new directives and regulations in Switzerland, Germany and EU make it obligatory for the firms to have a risk management strategy and transparently disclose the risk management process to their stakeholders. Shareholders, insurance providers, banks, media, analysts, employees, suppliers and other stakeholders expect the board members to be pro-active in knowing the critical risks facing their organization and provide them with a reasonable assurance vis-à-vis the management of those risks. In this environment however, the lack of standards and training opportunities makes this task difficult for board members. This book with the help of real life examples, analysis of drivers, interpretation of the Swiss legal requirements, and information based on international benchmarks tries to reach out to the forward looking leaders of today's businesses. The authors have collectively brought their years of scientific and practical experience in risk management, Swiss law and board memberships together to provide the board members practical solutions in risk management. The desire is that this book will clear the fear regarding risk management from the minds of the company leadership and help them in making risk savvy decisions in quest to achieve their strategic objectives.

Contents:

Abbreviations 21 I Introduction 25 1 General Overview 25 2 Importance of Risk Management 28 3 Role of Board Members in Risk Management 29 4 Definitions and Concepts 37 5 Risk Management Standards 47 II Development of Risk Management 56 1 Overview of the Development Stages 56 2 Risk Management and Corporate Governance 60 3 Risk Compliance 67 III Driving Forces of Risk Management in Switzerland 73 1 General Overview 73 2 Law as a Driving Force 74 3 Institutional Investors 76 4 Impact of US Developments 77 5 Press 77 6 Others 78 IV Risk Management Implementation 79 1 General Overview 79 2 Objective Setting 82 3 Risk Identification 84 4 Risk Assessment and Prioritisation 87 5 Risk Analysis 91 6 In-depth Risk Analysis 96 7 Action Planning 97 8 Monitoring, Reporting and Supervision 98 9 Culture 104 10 Tools 107 11 Timeline and Cost of Risk Management Implementation 108 V Uncontrollable Risks and Corporate Governance 111 1 Defining Uncontrollable Risks 111 2 Complex Systems Shaping Current Economic Landscape 113 3 Era of Black Swan Events (BSE) 116 4 Uncontrollable Risks and Boards 117 VI Managing Fraud and Corruption Risks 125 1 Problem Overview 125 2 Who are Involved? 129 3 Common Forms of Corruption 133 4 Managing the Risk of Fraud and Corruption 137 VII Risk Management of Major Projects 141 1 Why Risk Management of Projects at Board Level? 141 2 Risk Management Guidelines 143 3 Project Management Handbook 146 4 Project Credit Demand Report to the Board of Directors 146 5 Final Major Project Credit Demand Report (Closing of Internal Credit Line) 149 6 Reporting of Major Projects to the Board of Directors (Guidelines) 150 7 Aggregated Risks of a Company in Relation to Major Projects 155 8 Communication in Major Projects 157 9 External Risks for Major Projects 158 10 Decision-making to Minimise or Mitigate Risk of Major Projects 160 VIII Summary and Guidance for Practice 162 1 Summary 162 2 Risk Management Practice Today 166 Epilogue 175 Bibliography 176 Appendices 181 Editors 234

Notes:

[3. Auflage 2019]

ISBN:

3-258-44124-3

3-258-48124-5

OCLC:

1143218384

Publisher Number:

9783258441245