Making enterprise risk management pay off by Thomas L. Barton

By Thomas L. Barton

Making firm threat administration repay indicates how most sensible businesses are remodeling possibility administration into an built-in, non-stop, commonly targeted self-discipline that identifies and assesses hazards extra successfully, responds extra accurately, and discovers not only "downsides" yet leap forward possibilities in addition. via 5 wide-ranging case reviews - Chase big apple, Microsoft, DuPont, Unocal, and United Grain Growers - you will study strong new hazard administration recommendations that span the whole firm, and convey remarkable company price.

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It can be a political story, it can be an economic story, it could have any of those footings but there has to be a story, a logic 55 3 that makes the scenario compelling, believable. The scenarios have to be believable but they have to be unlikely, and that’s the test. In the management of market risk, VAR and stress testing are augmented by nonstatistical measures of the size and direction of an exposure. They typically will involve a sensitivity analysis to gauge the impact of, say, a change in market rates.

1 Chase Manhattan Timeline (Continued) 1930s— Chemical weathers Great Depression— deposits up 40%. 1911—Chatham & Phenix merge: largest bank in NY. 1912—Hanover & National merge. 1914—Manufacturers 1905— National & Citizens Citizens Trust Trust of merge to form Brooklyn Manufacturers formed. Trust. 1932— Manufacturers Trust acquires Chatham & Phenix. 39 1961— Manufacturers merges with Hanover. 2000 1998—SVA introduced. 1990 1980 1970 1982—Introduces Pronto, first electronic home banking service, & BankLink cash mgt.

48 OPERATING RISK COMMITTEE • Authorized to review the design of the control function within Chase FIDUCIARY RISK COMMITTEE • Responsible for approving Chase’s policies for fiduciary risk Chase Manhattan Corporation While diversification and controls are critical, in early 1998, Chase introduced a concept that quickly became a cornerstone of its enterprisewide risk management effort: shareholder value-added. Shareholder Value-Added I was worried that assets were growing too fast and people weren’t making those [risk-reward] trade-offs.

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