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The History of Enterprise Risk Management at Hydro One Inc

Author

Listed:
  • John Fraser

    (Hydro One Networks Inc., Toronto, ON M5G 2P5, Canada
    Former Chief Risk Officer, retired.)

  • Rob Quail

    (Robert Quail Consulting, Toronto, ON M4E 3J5, Canada
    Former Director, Risk Management, Hydro One Networks Inc. and Principal, Toronto, ON M5G 2P5, Canada.)

  • Betty Simkins

    (Department of Finance, Spears School of Business, Oklahoma State University, Stillwater, OK 74078, USA)

Abstract

Hydro One Inc. is widely regarded as having had one of the most successful implementations of enterprise risk management (ERM). The purpose of this article is to record the history of this successful implementation so that it will benefit other companies and organizations who are at the beginning or in the early part of their ERM journey. In this article, we delve deeper into the dynamics at work and the steps involved in the implementation of ERM. This article is an interview by Betty Simkins with John Fraser and Rob Quail so as to record the challenges, successes, and methods used at Hydro One. This article covers the period from 1999 to when John Fraser left the ERM function in 2014 but many of the processes they implemented have continued to the date of writing (2021). This article should also be of interest to academic researchers who seek to understand why some ERM implementations succeed while other flounder or fail to achieve their objectives.

Suggested Citation

  • John Fraser & Rob Quail & Betty Simkins, 2021. "The History of Enterprise Risk Management at Hydro One Inc," JRFM, MDPI, vol. 14(8), pages 1-13, August.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:8:p:373-:d:613831
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    References listed on IDEAS

    as
    1. Tom Aabo & John R. S. Fraser & Betty J. Simkins, 2005. "The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One," Journal of Applied Corporate Finance, Morgan Stanley, vol. 17(3), pages 62-75, June.
    2. Sorin Gabriel Anton & Anca Elena Afloarei Nucu, 2020. "Enterprise Risk Management: A Literature Review and Agenda for Future Research," JRFM, MDPI, vol. 13(11), pages 1-22, November.
    3. John R. S. Fraser & Betty J. Simkins, 2007. "Ten Common Misconceptions About Enterprise Risk Management," Journal of Applied Corporate Finance, Morgan Stanley, vol. 19(4), pages 75-81, September.
    4. Fraser, John R.S. & Simkins, Betty J., 2016. "The challenges of and solutions for implementing enterprise risk management," Business Horizons, Elsevier, vol. 59(6), pages 689-698.
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