Mastering 21st Century Enterprise Risk Management - 2nd Edition

“Mastering 21st century Enterprise Risk Management” is an Executive’s Guide for transforming ERM from an overhead to a value-adding driver of growth. It combines the best of ISO 31000 and COSO ERM to deliver bottom-line returns. By linking risk to strategy using Scenario Analysis, Bayesian modeling, and aggregating their effect, it allows organizations to fulfil the primary directive of ISO 31000 - managing the uncertainty in strategic objectives. In the post COVID business environment, managing uncertainty (risk) is not a management technique, it is a survival skill. From working with the Australian Dept. of Defence, Victorian Infectious Diseases Labs, Serco, and Motorola, this book presents a proven set of strategies and practices that can take you to the next level.This book aims to set the foundation that will allow organizations to implement the Future of ERM - AI-based Risk Management. Putting in place Good Governance, Ethics, Strategic Management, and Risk based Auditing, are all necessary perquisites to tackle the two-edged sword that is AI based Risk Management. Understanding the principles of Bayesian statistics, causal mapping, and threat management, puts Executives in the driver’s seat. It also sets a solid platform to manage volatility and exploit the vast potential inherent in the full range of artificial intelligence and disruptive technologies available today.