Through a series of case studies and selected special topics, Public Sector Enterprise Risk Management presents examples from leading Enterprise Risk Management (ERM) programs on overcoming bureaucratic obstacles, developing a positive risk culture, and making ERM a valuable part of day-to-day management. Specifically designed to help government risk managers, with concepts and approaches to help them advance risk management beyond the basics, the book:
Many government organizations can refer to the growing body of materials that provide examples of ERM processes and procedures. Far fewer reference materials and examples exist to help organizations develop a risk-mature organizational culture that is critical to the long-term success and strategic value that ERM represents to government organizations.
Public Sector Enterprise Risk Management begins to fill that void and is intended to help public sector risk managers overcome barriers that inhibit ERM from becoming an active contributor to major decisions that top officials must make.
"This book makes a major contribution to the advancement of Enterprise Risk Management in the public sector. It offers valuable conceptual frameworks and case studies and explores ways that agencies can improve their risk cultures, harmonize internal controls with ERM, and work with the Inspector General. There is nothing in the literature comparable to this book, which will be extremely useful for agencies at all levels of government in most developed countries as they work to implement ERM."—John Fraser, Former Senior Vice President and Chief Risk Officer, Hydro One Networks Inc.
"My compliments to the authors of Public Sector Enterprise Risk Management: Advancing Beyond the Basics, who cover all the bases of the challenges, opportunities, and approaches to generating real value with ERM in the Federal government. Their examples are detailed, practical, and enlightening, and serve as a useful guide for the Federal ERM community."—David M. Fisher, Former Chief Risk Officer of the Internal Revenue Service.
"In my many roles as a career executive and Presidential appointee, I appreciate the complexity and diversity of the many missions of our public sector agencies. Having helped launch ERM in July 2016, this book further shines a light on the need to implement an ERM program and how to fully integrate it in all aspects of the daily delivery of government mission and services ." —David A. Mader, Former OMB Controller and IRS Assistant Deputy Commissioner
"An essential reference for government risk practitioners interested in overcoming barriers to developing a risk mature culture in their organization. The case studies and special topics provide an invaluable guide to achieving maturity in effective risk management and a positive risk culture in government." —Sallyanne Harper, Co-founder and Past President of the Association for Federal Enterprise Risk Management (AFERM)
Part 1: Introduction
1. Introduction: Challenges in Implementing ERM in the Public Sector
Kenneth C. Fletcher and Thomas H. Stanton
Part 2: Overcoming ERM Implementation Challenges – Selected Case Studies
2. Change Management and Developing Organization Risk Culture: Transportation Security Administration (TSA) Case Study
Kenneth C. Fletcher
3. Using Data and Analysis to Add Value from ERM
Frank Vetrano and Jason Stayanovich
4. Laying the Groundwork for ERM: The Evolution of ERM at the U.S. Department of the Treasury
Ken Phalen and Karen Weber
5. ERM and Local Government: King County Washington
Jennifer Hills and Sean Catanese
Part 3: Selected Special Topics
6. Enhancing Capabilities and Culture Through Effective Coordination of Enterprise Risk Management and Internal Control
Sean M. Vineyard and Quimby Kaizer
7. Working with the IG and GAO: Creating a Win-Win Relationship
Robert A. Westbrooks
8. Cultivating and Measuring Risk Culture to Achieve Forward Momentum on ERM
Cynthia Vitters and Michael Gelles
Part 4: Conclusion
9. Enterprise Risk Management: A Powerful Management Tool
Thomas H. Stanton