THE PEOPLE OF
WE HAVE NOW laid the foundation for a complete ERM program, having defined the steps that go into creating such a program: Understand risk and seize opportunity using modern tools; align risk management with the business model; identify risk owners and hold them accountable; create a central risk function; identify and share risks and opportunities using new technology.
Part Five concludes our presentation of ERM. We meet people who manage risk (Chapter 26). How do they structure functions? Who is in the game, or at least nearby waiting to enter the arena? The narrowest view is that of the modern risk manager, working largely in the hazard risk area but expanding his or her role into operations and strategies. As you will see, successful risk managers are highly skilled individuals who perform a massively important func-