Enterprise Risk Management [ LACTU2260 ]

Course material available through icampus.

Courses of the 1st year of the master in actuarial science

Quantitative risk management by enterprises

Based on this course, the student is able to identify the risks faced by the enterprise, to measure their impact and to design an appropriate strategy to manage them.

Ex caethedra lectures supported by case studies.

Enterprise risk management (ERM) is the process of coordinated risk management of the organization's full range of risks as a whole. It consists in systematically and comprehensively identifying critical risks, quantifying their impact and implementing integrated strategies to maximize the Enterprise value.
ERM not only covers the management of "pure" risks through the purchase of insurance and the management of financial risk with the use of derivative financial products but takes a 360'degree view of the organization's risk profile.
The goal of ERM is to better understand the resistance of the enterprise to its key risks and to better manage enterprise risk exposures to the level desired by the management.
The course covers the following topics:
- capital funding and structure,
- financial reporting,
- measuring value,
- enterprise risk management framework,
- ERM fundamentals,
- credit risk,
- operational risk,
- and strategic risk.

- Integrated Risk Management: Techniques and Strategies for Managing Corporate Risk, Neil Doherty (McGraw Hill, 2000).
- Enterprise Risk Management, James Lam (Wiley, 2003).
- Simple Tools and Techniques for ERM, Robert J. Chapman (Wiley, 2006).