Corporate Risk Management

Risk management is one of the most important issues facing organisations today. With an increasing pace of change, customer demands and market globalisation, having a process in place to identify, assess and manage major business risks is essential to survive in today's market. Getting the balance right is key; the opportunities are as important as the threats. Fully updated from the first edition, this book compares and contrasts tools and techniques used in risk management, showing readers how to implement a generic risk management mechanism. Including up-to-date guidance on new regulations in corporate governance, including updates on the Turnbull and Sarbanes Oxley acts, the Higgs report and European legislation, the book presents a fully updated and expanded model framework for analysing risk at corporate, strategic business and project levels. Typical risks affecting organisations - including pension-related issues associated with equity risk - are discussed, along with sections on the evolution of risk management and its processes, corporate and project finance, portfolio risk management and cash flow analysis. There are also fully updated and expanded sections on financial modeling - especially the use of Excel as a powerful financial tool - and derivatives, including interest rate, RPI swaps and foreign exchange. Combining theory with practical examples and case studies - including interviews with over 90 corporate organizations in the UK and overseas - this book is an essential guide to the commercial aspects of risk management and its implementation, at all levels of an organisation. "An excellent well structured book which leads the reader through the broad spectrum of risk management essential in today's business environment. The authors concisely address the key areas of identification, assessment and management/planning relevant for the corporate risk manager, as well as those issues specifically relevant to those involved in project driven endeavours." Gareth Owens, Investment professional, London based commodities principal investment team "This important new edition of Corporate Risk Management updates the highly successful first offering by Merna and Al Thani. The latest research and opinions on corporate governance codes and analytical techniques are described with superb clarity. The wide range of case studies from food and tobacco to pharmaceutical and oil industries help to identify the generic issues that are fundamental to corporate risk management." --Professor Tim McCarthy, University of Wollongong, NSW Australia von Merna, Tony;Al-Thani, Faisal F;