ERM - a guide to implementation
The guide, Handling uncertainty - the key to truly effective Enterprise Risk Management, was developed jointly with the Institution of Civil Engineers (ICE) in the summer of 2011. It is a high level guide that outlines some newer ways of addressing risk management. It is partly based on the more comprehensive ERM Guide that the ICE and the actuarial profession developed in recent years (see below) as well learning from recent experience and discussion with a number of experienced practitioners.
The aim of the new ERM Guide is to raise awareness of some newer ideas and to encourage people to think differently about the issues involved. In this context, please note that the guide is not intended to be comprehensive or to provide detailed technical examples. Similarly, in the ERM area definitions of risk-related subjects are not uniformly agreed globally and as a result readers should note that some definitions used in the guide may not align fully with those used by other practitioners in risk management. Accordingly, the guide should be considered work-in-progress which we hope to develop further - we welcome any feedback on the guide and additional practical insights that we may develop and share. Download the guide at the link below:
ERM - a guide to implementation
The ERM guide to implementation, which has been drafted by a group of actuaries, civil engineers, academics and consultants, is addressed mainly to board members and senior executives and shows how a practicable ERM framework can be introduced into almost any kind of organisation.
Although at an advanced stage, the guide is still work in progress, and we would greatly welcome readers' feedback, which should be e-mailed to dawn.mcintosh@actuaries.org.uk
Additional resources:
- Interview: Roger Dix on enterprise risk management
- Developing a key risk indicator framework for the board and the management