CAS Online Course
Introduction to Enterprise Risk Management
Reading List
September 2010
Lecture 1 - Introduction to ERM
D’Arcy, S., 2001, “Enterprise Risk Management,” Journal of Risk Management of Korea, 12:1, pp. 207-228.
Shimpi, Prakash, 2009, “Financial Crisis: Time to Improve ERM,” Emphasis, 2009/1, pp. 10-13.
Lecture 2 - ERM in Context
Lam, Chapters 1-3.
Lecture 3 – ERM in Practice
Standard & Poor’s, 2005, “Insurance Criteria: Evaluating the Enterprise Risk Management Practices of Insurance Companies.”
Lecture 4 – ERM Framework
Lam, Chapters 3 and 4.
D’Arcy, S. P., 2009, “Risk Appetite,” Risk Management, 15, pp. 38-41.
Lecture 5 – Hazard Risk
Insurance Information Institute, 2006, Commercial Insurance, section on “Types of Policies.”
Lecture 6 – Financial Risk
Lam, Chapters 13 and 16
Chicago Mercantile Exchange, About Futures Tutorial.
Lecture 7 – Operational Risk
Lam, Chapter 14.
Lecture 8 – Strategic Risk
Kocourek, P. and Newfrock, J., 2006, “Are Boards Worrying about the Wrong Risks?” The Corporate Board, March /April, 2006.
Download Reading (.pdf)
Lecture 9 – Risk Metrics (D’Arcy)
Lam, Chapter 9
CAS ERM Committee, 2003, Overview of ERM, pp. 14-26
Lecture 10 – Application of ERM
Harrington, S. and Niehaus, G., 2003, “United Grain Growers: Enterprise Risk Management and Weather Risk,” Risk Management and Insurance Review, 6:2, pp. 193-208.
Banham, R., 2003, “Fear Factor: Sarbanes-Oxley offers one more reason to tackle enterprise risk management,” CFO Magazine (June).
Lecture 11 – COSO Framework: Pros and Cons
COSO, September, 2004, Enterprise Risk Management-Integrated Framework, Executive Summary.
Samed-Kahn, A., 2005, “Why COSO is Flawed,” OpRisk Advisory, January 2005, pp. 1-6.
Mestchian, P., Makarov, M., Mirzai, B., 2005, “Operational Risk-COSO Re-examined,” Journal of Risk Intelligence, 1:4, pp. 19-22.
Lecture 12 – Conclusion
Lam, Chapters 19 and 20.
Summary of Course Readings
Primary text
Lam, James, 2003, Enterprise Risk Management: From Incentives to Controls, (John Wiley & Sons).
Other Readings
Banham, R., 2003, “Fear Factor: Sarbanes-Oxley offers one more reason to tackle enterprise risk management,” CFO Magazine (June).
CAS ERM Committee, 2003, Overview of ERM, pp. 14-26.
Chicago Mercantile Exchange, About Futures Tutorial.
COSO, September, 2004, Enterprise Risk Management-Integrated Framework, Executive Summary.
D’Arcy, S., 2001, “Enterprise Risk Management,” Journal of Risk Management of Korea, 12:1, pp. 207-228.
D’Arcy, S. P., 2009, “Risk Appetite,” Risk Management, 15, pp. 38-41.
Insurance Information Institute, 2006, Commercial Insurance, section on “Types of Policies.”
Kocourek, P. and Newfrock, J., 2006, “Are Boards Worrying about the Wrong Risks?” The Corporate Board, March /April, 2006.
Mestchian, P., Makarov, M., Mirzai, B., 2005, “Operational Risk-COSO Re-examined,” Journal of Risk Intelligence, 1:4, pp. 19-22.
Samed-Kahn, A., 2005, “Why COSO is Flawed,” OpRisk Advisory, January 2005, pp. 1-6.
Standard & Poor’s, 2005, “Insurance Criteria: Evaluating the Enterprise Risk Management Practices of Insurance Companies.”
