[Skip to content]

Sign up for our daily newsletter
The Actuary The magazine of the Institute & Faculty of Actuaries
.

Risk & ERM

  • weather icons Climate risk: rain or shineMark Thompson explains how to provide protection against climate risks, and champions more environmentally sound corporate governance 09 February 2017
  • web-p26-27-Unit-Businessman-under-three-tiered-umbrella--Ikon--11591106.jpg Tailoring guaranteesDavid Macdonald discusses how new hedging techniques are increasingly being used by life insurers to deliver unit-linked guarantees 08 February 2017
  • iStock The inequality challengeTackling the GMP inequality issue through conversion seems the least problematic of a number of other options, but doing the calculations has its own difficulties, explain David Everett and Donna Matteucci 01 December 2016
  • P25 ILS: Redefining the capital management landscapeLuca Tres and Paul Whiting discuss the redefining of the life insurance capital management landscape 03 November 2016
  • p24-Systems-Thinking--Tree-headshaped-jigsaw-root-illustration--Istock--505649964 Systems thinking at Staple InnNico Aspinall introduces 'systems thinking' and explains why it is important to increase its use in actuarial work 03 November 2016
  • China flood defences work China suffers extreme floods but improved defences mean less damageChina has experienced its worst floods since the supposedly 'one in 100 years' flooding of 1998, but damage to crops has reduced, Aon Benfield has said. 14 October 2016
  • cover_october_final2 A cultural revolutionColm Fitzgerald, Jonathan Allenby and Monika Smatralova discuss behavioural and cultural risks and how to assess and manage them 06 October 2016
  • The Antartic ice sheet © iStock Met Office boss calls for better adaptation for climate changeStrategies are needed to adapt to the effects of climate change, according to the head of climate impact research at the Met office. 14 September 2016
  • Interior The rising tideAndrew Lowe discusses the actuarial profession's response to the increasing risk of flooding in the UK and around the world. He argues that with greater co-operation and data sharing, the profession and wider economy can make better preparations for the challenges ahead 01 September 2016
  • September_cover-PRES Shock tactics - exploring the risk of cyber attacks on electricity networksSimon Ruffle and Lee Coppack investigate the possible consequences of cyber-attacks on electricity networks 01 September 2016
Page: [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [+11]

Enterprise risk management

Enterprise risk management (ERM) is generally accepted to be a wider subject than traditional risk management.

While traditional risk management focuses on identifying, measuring and monitoring risks to limit a company's losses, ERM recognises that businesses take risks to make a profit for their owners. It therefore attempts to strike a balance between too much risk and not enough risk in light of a business's strategy - making sure the risk-taking activities of the company are aligned with its objectives and its willingness, or otherwise, to take losses.

An ERM process will incorporate risk information into strategic planning, management decision making, product design and more.

Find out more