Case Studies in Enterprise Risk Management
As the name implies, this course uses a case study approach to educate students about Enter-prise Risk Management (ERM) and its applications. Corporations today face a wider array of risks than ever before, and investors, regulators and other parties are demanding that management understand and manage these risks in the most effective and efficient manner possible. In this setting, the course uses a series of case studies and interactions with industry professionals to develop an understanding of issues related to managing risk across the firm, how ERM supports the strategic objectives of the firm, and the value-added proposition of ERM for the firm and its stakeholders.
The course will focus on 1) the fundamentals of risk, risk management and ERM, 2) the ERM function and implementation process, 3) the use of ERM to identify and evaluate firm risks and related exposures and 4) the role of ERM in supporting firm strategic goals and objectives. Harvard Business Review case studies will be used during the course to highlight the ERM process and its concepts.
During the course, the students will participate in meetings with executives from companies located in Munich. Corporate visits from prior courses include Munich Re, Swiss Re, Allianz, Munich Airport, BayernLB, EON, and MAN. Students will have the opportunity to further develop individual writing and reporting skills by providing a written summary of the corporate visits. Students also will have the opportunity to work in groups to evaluate a specific company based on that company’s reported operational information, financial data, and the risks disclosed in the corporate financial reports (e.g., Form 10K reports) and to present their findings to the class.
Projects: As noted above, each student will provide a written summary of the company visits and participate in a group research project that evaluates a specific company’s risks, operations, and performance.