World-Class Risk Management

by Norman Marks

What is world-class risk management? Why do so many top executives and board members have difficulty seeing how enterprise risk management makes a positive contribution to the success of the organization? Norman Marks is recognized as a global thought leader in risk management. He is an Honorary Fellow of the Institute of Risk Management and a Fellow of the Open Compliance and Ethics Group. A prolific blogger, author of three previous books and multiple award-winning articles, and a speaker at conferences and seminars around the world, Norman Marks is an original thinker with a business rather than a technical risk management perspective. Norman considers these key questions and provides his insights, focusing on the need to make the management of risk a key ingredient in decision-making and the running of the business. He considers not only how risk relates to objective and strategy-setting, but discusses each risk management activity from identifying to treating risk – as an integral part of day-to-day management rather than a separate, periodic exercise. The book includes a challenging and thoughtful foreword by Grant Purdy, one of the pioneers and highly-respected risk management leaders. Expert reviews "Whether you are a manager, an assurance provider or a risk management professional, the way Norman has written this book and the good sense it contains should cause you to rethink your understanding of risk and how you go about recognising and responding to it.” - Grant Purdy "I found World-Class Risk Management an engaging and interesting read. Fair This is not a text book; it is a point-of-view book. If you are only interested in preserving the status quo, I advise you to put this book down! Now! But if you welcome a challenge to your view as to how risk management should function, I encourage you to let Norman take you on a journey to world-class risk management. These changing and disruptive times require that we constantly up our game." - Jim DeLoach "In the last 6 years, Norman has evolved and challenged narrow minded views of risk management that have a bureaucratic audit or compliance-focus approach as well as academic thoughts that do little to increase the performance of an organization and create value. Today, he has gathered his current state of knowledge in risk management in his new book exploring, reviewing and questioning the concept of “World-Class Risk Management” with references to the internationally-adopted ISO 31000 risk management standard.” - Alex Dali

236 pages, Kindle Edition

First published June 12, 2015

Reviews

[Kristen · Rating 4 out of 5]

Excellent book on risk management. Rather than being a book written for those seeking to understand what risk management is, this book is written for professionals wanting to strengthen the practice of risk management in their organizations.

This book was able to provide detailed enough information so I could easily understand how risk management should operate and what effective risk management would look like, but also kept the information at a high enough level I didn’t have to spend time translating the recommendations for something that would “work” at my organization simply because I knew I wasn’t the exact corporate structure the author had in mind.

It was refreshing to have someone write from the perspective of having a variety of roles across a variety of businesses so that the elements of success and potential pitfalls could be plainly stated and easily applied.

Highlights include:
•Sound advice on how to focus on performance and objectives and measure the success of the risk management program

•Good context and examples given for more than one method of effective risk reporting and how to use/interpret risk data

•A solid balance of how to address and adjust risk management practices and efforts at various levels of the organization in order to get the most benefit from the program

My only gripe is that some chapters felt like they were driven too much by examples and there were some areas that felt filled more with information quoted from other texts than the new information being provided; these were few, however.

[Hassan Alamri · Rating 3 out of 5]

I find this book very useful for those who understands risk management and now they can see it from different angle as the author Norman Marks kept criticizing some practices within organizations that prevent them from being a world class in risk management. For those who are not specialized in risk management, this book is not for them.

[Brian W · Rating 2 out of 5]

Ok, book on risk management. It spells out many principles in applying risk management within organizations, changing the culture, or risk management. It was beneficial to think about risk, model it, and develop it in handling it. It should be read for those trying to increase and implement a risk management culture at an organizational level.

[Swimmer Runner · Rating 5 out of 5]

I picked up this book to enhance my professional knowledge of risk management. The book gives receipe for world class risk management system. Even after 10 years from publishing date book has good advice for risk management practioners.

[Brook · Rating 5 out of 5]

A must read for all risk professionals.