Reference no: EM132403155
Text book: Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons
Chapter 18 from above textbook presented special risk management issues with Blue Wood Chocolates and chapter 19 presented various financial risks at Kilgore Custom Milling. If Blue Wood Chocolate and Kilgore Custom Milling are to develop a risk management framework, who should lead the process at each company? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role of the board in such a process?
To complete this assignment, you must do the following:
As indicated above, if Blue Wood Chocolate and Kilgore Custom Milling are to develop a risk management framework, who should lead the process at each company? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role for the board in such a process?
ANSWER ALL OF THE QUESTIONS ABOVE IN YOUR RESPONSE.
NOTE: These discussions should be informal discussions, NOT research papers. If you MUST directly quote a resource, then cite it properly.
Minimun 2 pages