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You searched Library Catalogue - Author: Chong, Tzy Kien
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Call Number (WOU)
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SP CEMBA 2012 18
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Author
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Choo, Chai Hoong
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Title
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An evaluation of the implementation process of enterprise risk management system - a case study of XYZ Berhad / Choo Chai Hoong
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Abstract
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Although risks management has been in existence since the establishing of the first insurance bodies to underwrite possibilities of losses, it is only since the late Nineties that ERM has gained recognition, encompassing not only risks with financial losses, but including risks associated with regulatory non-compliances, operational risks such as related to safety, health and the environment as well as business and strategic risks that could result in lost opportunities for the whole organisation.
The many corporate collapses in the past decade have given rise to questions on the way corporations are being managed, and how they are managing their internal and external risks. As regulators, Governments, Central Banks and stock bourses worldwide tighten up their guidelines on regulatory compliances and corporate governance, Boards of Directors must now re-look at their organisational governance.
Increasingly, Directors of public companies are called to accountability for risk management within their organisations. Enterprise Risk Management (ERM) is now gaining prominence as an important management tool to provide Boards of Directors with assurance that risks within their organisations are being managed. A truly holistic and integrated ERM System can help the organisation to manage its key business risks as well as exploit their business opportunities to maximize shareholder value for the whole organisation.The first Malaysian Code on Corporate Governance (MCCG) was issued in March 2000. Subsequently, the MCCG was revised in year 2007 where risk management was incorporated as a recommended item for public listed companies to include in their list of reporting to regulators. The most recent updates published in March 2012 have now made it mandatory for public listed companies to institute Risk Management as a part of their Board responsibilities.
This case study research looks at the process of implementing an ERM System in a public listed company on Bursa Malaysia. From the mandate first given by the Board of Directors, this research evaluates the stages and processes of implementing an ERM System for the XYZ Bhd Group of Companies. The whole Project to Implement the ERM System included setting up the ERM Framework to implementing the software for risks monitoring, reviews and reporting. Challenges encountered were documented including the factors that had impacted on the whole project. Implications were drawn from the documents reviewed and the results from the various activities carried out were analysed, such as from the Risk Culture Survey, Structured Interviews and Risks Workshops conducted.
From this first phase of the ERM System Implementation, the XYZ Bhd Group had subsequently decided to roll out the same software system to the remaining other companies within the Group. The findings from this case study is expected to provide further insight to future implementation projects, as well as stimulation for research into other quantitative areas of ERM implementation.
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Notes
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Final project report submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration (CeMBA)
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Publisher/Year
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Penang : School of Business and Administration, Wawasan Open University, 2012
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Physical Description
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78 p.; 30 cm.
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Subject
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Wawasan Open University -- Dissertations
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Subject
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Risk management -- Malaysia
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