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This presentation is based on a part of an academic course on Advanced Enterprise Risk Management (Advanced ERM) titled ‘ERM concepts and Risk categorisation’ and covers topics such as: fundamentals of ERM, getting started with ERM, ERM within Solvency II and the ORSA

Slides

1	Session 1: ERM concepts and Risk categorisation
2	Session 1: ERM concepts and Risk categorisation
3	Definition of ERM (1)
4	Definition of ERM (2)
5	Definition of ERM (3)
6	Differentiators / key enablers vs. other types of RM
7	ERM as a set of techniques and processes
8	ERM is an evolving concept
9	Is ERM is quantitative or qualitative?
10	What types of 'risk' are measurable?
11	Measuring risk: statistical techniques need
12	More generally risk quantification usually involves
13	Imprecise nature of some impacts
14	Likewise occurrence likelihoods
15	Putting a 'market price' on risk
16	ERM is about upside as well as downside
17	Upside versus downside - the risk management team
18	Benefits versus costs of ERM
19	Modigliani-Miller (1)
20	Modigliani-Miller (2)
21	ERM and corporate governance
22	Governance issues
23	Misaligned interests
24	Cultural issues
25	ERM input to Board strategy
26	Risk appetite terminology (UK Actuarial Profession)
27	The ERM control cycle
28	E.g. if focusing on risk appetite
29	Risk frameworks
30	Credit agency assessments of ERM effectiveness
31	Session 1: ERM concepts and Risk categorisation
32	Getting started with ERM
33	Key themes (1)
34	Key themes (2)
35	Initial action steps
36	Session 1: ERM concepts and Risk categorisation
37	ERM within Solvency II and the ORSA
38	Supervisor perspective
39	ORSA - starts from the top
40	ORSA
41	The ORSA
42	The ORSA
43	Introducing the ORSA can be a demanding task
44	ORSA inputs
45	Risk examples
46	Example questions Boards might pose
47	Possible ORSA outcomes could include
48	Session 1: ERM concepts and Risk categorisation
49	Risk categorisation
50	Risk categorisation (ctd)
51	Views of Kelliher et al. (2009)
52	Views of Kemp and Patel (2011)
53	Concentration risk
54	Systematic and non-systematic risk
55	Contagion risk
56	Session 1: Agenda covered
57	Important Information

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