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Risk Maturity Models

Book Description

Provides insights into creating and using a tailored risk maturity model to assess the effectiveness of your organization's risk management.

Table of Contents

  1. Cover
  2. Praise for Risk Maturity Models
  3. Title Page
  4. Contents
  5. List of contributors
  6. About the author
  7. Foreword by Kevin Knight
  8. Foreword by Norman Marks
  9. Acknowledgements
  10. List of abbreviations
  11. Introduction
  12. 01    Background to risk maturity models
    1. Introduction
    2. Concepts and definitions
    3. Origins of capability maturity models
    4. Misunderstanding 1: all models are born equal
    5. Misunderstanding 2: global best practice
    6. Misunderstanding 3: progression without regression or stasis
    7. Misunderstanding 4: just a tool
    8. Summary
  13. 02    The case for a risk maturity model
    1. Introduction
    2. Benefits delivered by ERM and a risk maturity model
    3. Assessing risk management effectiveness
    4. Alternatives complement using a risk maturity model
    5. Limitations to using a risk maturity model
    6. Summary
  14. 03    Comparing risk maturity models against each other
    1. Introduction
    2. Dealing with biases when comparing risk maturity models
    3. Approach to comparing risk maturity models
    4. Tiering the models
    5. Directory comparing 77 maturity models
    6. Results and analysis of the directory of risk maturity models
    7. Summary
  15. 04    Tailoring and benchmarking a risk maturity model
    1. Introduction
    2. Tailoring and benchmarking
    3. Tailoring by ERM standards and voluntary codes
    4. Tailoring by corporate governance codes and guidance
    5. Tailoring by sectors
    6. Tailoring by organization operating model
    7. Tailoring by risk function operating model
    8. Tailoring by economic value chain
    9. Tailoring by key performance indicators
    10. Tailoring by context and design-related methods
    11. Summary
  16. 05    Designing a tailored risk maturity model
    1. Introduction
    2. Components of a maturity model
    3. Domains as a component of a maturity model
    4. Capabilities as a component of a maturity model
    5. Scales as a component of a maturity model
    6. Levels as a component of a maturity model
    7. Alternative design formats
    8. Enhancements to the design of a maturity model
    9. Optimizing objectivity, tailoring and reporting
    10. Summary
  17. 06    How risk, audit and board functions benefit from risk maturity
    1. Introduction
    2. The risk function and risk maturity
    3. The internal audit function and risk maturity
    4. The board and CxO function and risk maturity
    5. Benefits for risk, IA and board functions
    6. Summary
  18. 07    Summary of risk maturity models from practitioner perspectives
    1. Practitioner Megan learns to leverage resources to move up the curve
    2. Practitioner Chris learns to keep it simple moving up the curve
    3. Practitioner Asha learns advanced external benchmarking
    4. Practitioner Alan learns advanced self-benchmarking
    5. Summary and future moving up the risk maturity curve
  19. Glossary
  20. References
  21. Further reading
  22. Index
  23. Copyright