In French, a denouement is the end of a complex sequence of events. To be more dramatic, it is the final outcome of the main dramatic complication in a literary work. So it is that our journey ends. What did we learn? First, risk is best managed in a framework of alignment with the business strategy, accountable risk owners, and a recognition that every risk may be accompanied by a opportunity. A central risk function and a knowledge of ERM are tools to identify and share exposures and opportunities. We learned about new and powerful technology to visualize risk relationships and document mitigation efforts. We looked at oftenoverlooked exposure with weaknesses in strategies, cultures, and leadership—risks that cross hierarchical divisions. We read stories of success and failures of risk management. We concluded with an introduction to people who manage risk for major organizations.
This is an entirely new paradigm on a concept that is 20 years old. if we move enterprise risk management from the complex and cerebral, we will find that the concept is solid. it produces benefits for organizations. it can help us make sense out of a complex world. if this book helps make erm more accessible, the journey will have been well worth it.