Operational Perspective on the ERM Process

Robert Rieg, Ute Vanini and Werner Gleißner
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Robert Rieg: Aalen University
Ute Vanini: Kiel University of Applied Science
Werner Gleißner: Future Value Group AG

Chapter Chapter 8 in Enterprise Risk Management, 2025, pp 147-191 from Springer

Abstract: Abstract Risks must be identified and assessed on an ongoing basis as part of the operational ERM process. Companies have various methods and tools at their disposal for this purpose, including early warning systems, scenario analyses, statistical risk modelling, and aggregation methods. Monte Carlo simulation (MCS) is particularly suitable for determining the overall risk exposure and thus for monitoring the risk-bearing capacity. In addition, a firm’s risk status and risk-bearing capacity must be reported as part of internal risk reporting and external risk disclosure so that mitigation measures can be taken if necessary.

Keywords: At risk; Monte Carlo simulation (MCS); Risk aggregation; Risk disclosure; Risk identification; Risk quantification; Risk reporting (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-3-031-86425-4_8

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