Praise for the First Edition of
Enterprise Risk Management
“In the aftermath of Enron, WorldCom, and Sarbanes-Oxley, every
publicly traded company should be concerned about risk management.
This book takes a pragmatic approach to risk management that can
beneft any CEO or senior executive. Lam lays out clear strategies to
address what is often a highly complex issue.”
—William L. Walton, Chairman and CEO,
Allied Capital Corporation
“Author James Lam provides one of the most practical, insightful books
on risk management that I have read in the last thirty years. It clearly
refects experience and deep understanding of the art as well as the
science in risk management practices. A must-read for all who wish to
advance risk management practices in theirbusinesses.”
—Sandra Jansky, Executive Vice President, Chief Credit
Offcer, SunTrust Banks, Inc., (Chairperson,
Risk Management Association)
“In this book, James Lam has provided an effective overview of busi-
ness risk.
Enterprise Risk Management
will be useful to professional
risk managers and business executives seeking to understand the latest
tools and organizational approaches.”
—Robert Simons, Charles M. Williams Professor of Business
Administration, Unit Head — Accounting & Control,
Harvard Business School
“The most comprehensive and engaging handbook on enterprise risk
management, written by the pioneer of the chief risk offcer function.
Filled with practical examples and lessons learned, this book is destined
to become one of the most widely read primers on today’s top business
initiative. James Lam is
the
authority on enterprise risk management,
and I highly recommend this book to all board directors, senior execu-
tives, and risk managers.”
—Cassandra R. Schultz, Vice-President &
Chief Risk Offcer, KeySpan Corporation
“James Lam’s book
Enterprise Risk Management: From Incentives to
Controls
provides an insightful roadmap to best practices in risk man-
agement. Based on a solid and successful career in risk management,
James’ advice is both timely and relevant and should be required read-
ing for all risk management professionals.”
—Michael J. Litwin, Chief Credit and Risk Offcer,
Merrill Lynch Capital
“It’s hard to imagine a more timely book. James Lam provides us with
an excellent overview of enterprise risk management. A worthwhile
read for professionals in a wide range of industries — from fnancial
institutions to energy frms.”
—Richard L. Sandor, Ph.D., Chairman and
Chief Executive Offcer, Chicago
Climate Exchange, Inc.
“This book provides highly user-friendly insights into the many theo-
retical and practical aspects of enterprise-wide risk management. The
case studies are particularly timely and provide a deeper understanding
of the day-to-day real world complexities of implementing an effective
risk management program.”
—Dr. Robert Mark, Chief Executive Offcer, Black Diamond
“While enterprise risk management has been a hot topic for discussion
and debate, Lam manages to provide us with the frst fully developed
framework on the subject. Essential reading for anyone interested in the
subject of risk and the successful implementation of risk management.”
—Tobey J. Russ, President & Chief Executive Offcer,
Chubb Financial Solutions, LLC
“
Enterprise Risk Management
is managerial science. James Lam has
been a consistent voice for the business benefts of risk management
and has thoughtfully and clearly articulated the business case for ERM.
Long at the forefront of the profession, even having coined the title
“Chief Risk Offcer”, James uses real-life examples, practical sugges-
tions and insights from his many years of practice to simplify risk man-
agement without being simplistic. This is a must-read for CEOs, CFOs,
board members and others who want and need to know of this modern
discipline to business management.”
—David R. Koenig, Chair of the Board of Directors,
Professional Risk Managers’ International Association
“Our bank has greatly benefted from the implementation of
enterprise-wide risk management. The concepts introduced by James
Lam through case studies, theory, and his business experiences provide
insightful analysis and form the foundation for any broad based risk
management program. This book is an excellent read for managers of
all levels responsible for risk management.”
—William C. Nelson, Vice Chairman and
Chief Risk Offcer, Bank of Hawaii Corporation。