By John C. Shaw
Decision-making and company governance have constantly been vital capabilities in a firm, yet by no means extra so than within the present post-Enron/Andersen enterprise setting. This publication acts as a framework for company officials and senior-level executives who have to redecorate their very own decision-making, possibility, and governance methods. The techniques were effectively confirmed in a few major businesses, whose case reports are incorporated within the book.
deals modern insurance of an more and more vital subject, mentioning a confirmed process that pulls from prime businesses and offers a composite of what to not do in response to businesses like Anderson and Enron.
writer very energetic in convention circles, addressing hundreds of thousands in occasions.
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Extra resources for Corporate Governance and Risk: A Systems Approach (Wiley Finance)
The unique organization, processes, and informational risks associated with being a ﬁnancial institution. In my experience, integrating these two characteristics of governance and risk, particularly in a large, complex ﬁnancial institution, results in a set of structures that are virtually unmanageable. Generally speaking, since the primary business of a ﬁnancial service organization is that of a riskbearing intermediary, such activities become the focus of the majority of the governance and risk initiatives.
For example, the commitment of WaMu to long-term share owner value avoided many of the pitfalls of short-term thinking and decision making that produced the consequences that became the S&L crisis of the 1980s. WaMu was an early adapter of a powerful set of core values that created the Tone at the Top introduced earlier. Those values are, if anything, more relevant today than they were when they were put in place 20 years ago: ■ Ethics—All actions are guided by absolute honesty, integrity, and fairness.
While improvements are necessary and will be carried out in the next planning cycle, the system is thought to be working well and is serving the purpose of anticipating, understanding, and taking action around the consequences of choices available and decisions taken. An important take-away point from this case is the fact that the Governance Model served as the framework and process for change management. ” I am very grateful to Robert Reed, president and CEO, and his colleagues for working very hard and being extremely supportive in the implementation of the Governance Model.