Professor, École des Ponts Business School
- Module(s): Enterprise Risk Management
I am not a research faculty, but I do write and speak on Enterprise Risk Management, Alternative Risk Financing-specifically the use and operation of captive insurance companies. I have attached an interview published in 2016 by the Captive Insurance Times (London) that shed light on my thinking about Enterprise Risk Management and captive insurance companies.
I had the great privilege of studying Risk Management with three of the giants in our field. Wayne Snider, Bob Hedges, and Bill Glendenning. Each in their own way contributed to the transition of insurance management to risk management. They were my professors when I was a graduate assistant at Temple University studying for myMBA.
That managing risk across the enterprise is strategic, and increases stakeholder value. Risk Management is the responsibility of all employees. Not just a risk manager. And that the Enterprise RiskManagement process is necessary if an organization is to thrive, not just survive.
Enterprise Risk Management does not mean that one has to be a riskmanager or chief risk officer. This course is basic training for anyone that wants to be a board level director for a private or public firm. It also enables students to understand risk in a broader sense. They become better decision makers. Risk simply speaking is probabilitymultiplied by impact or consequence of risk. The way to ameliorate the downside of risk, or exploit the upside of risk is knowledge. My goal is to provide the tools that our students will use to identify, assess and evaluate risk so that it can become a value added, not something that we dread.