Lam, Chapter 4, What is Enterprise Risk Management Study Notes contains 12 pages covering the following learning objectives:
* Describe enterprise risk management (ERM) and compare and contrast differing definitions of ERM.
* Compare the benefits and costs of ERM and describe the motivations for a firm to adopt an ERM initiative.
* Describe the role and responsibilities of a chief risk officer (CRO) and assess how the CRO should interact with other senior management.
* Distinguish between components of an ERM program.
After reviewing the notes, you will be able to apply what you learned with practice questions.
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