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Enterprise Risk Management: Financial and Accounting Perspectives

In: New Frontiers in Enterprise Risk Management

Author

Listed:
  • D. Wu
  • D. L. Olson

Abstract

Recent financial disasters in financial and non-financial firms and in governmental agencies have led to increased emphasis on various forms of risk management such as market risk management, credit risk management, and operational risk management. Financial institutions like banks are further motivated by the need to meet various regulatory requirements for risk measurement and capital. There is an increasing tendency toward an integrated or holistic view of risks. A framework for thinking about the collective risk of a group of financial instruments and an individual security’s contribution to that collective risk would be useful. A Tillinghast-Towers Perrin survey has reported that nearly half of the insurance industry used an integrated risk management process (with another 40% planning to do so), and 40% had a chief risk officer.

Suggested Citation

  • D. Wu & D. L. Olson, 2008. "Enterprise Risk Management: Financial and Accounting Perspectives," Springer Books, in: David L. Olson & Desheng Wu (ed.), New Frontiers in Enterprise Risk Management, chapter 3, pages 25-38, Springer.
  • Handle: RePEc:spr:sprchp:978-3-540-78642-9_3
    DOI: 10.1007/978-3-540-78642-9_3
    as

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