People Risk Management - A Practical Approach to Managing the Human Factors That Could Harm Your Business

People Risk Management provides unique depth to a topic that has garnered intense interest in recent years. Based on the latest thinking in corporate governance, behavioural economics, human resources and operational risk, people risk can be defined as the risk that people do not follow the organization's procedures, practices and/or rules, thus deviating from expected behaviour in a way that could damage the business's performance and reputation. From fraud to bad business decisions, illegal activity to lax corporate governance, people risk - often called conduct risk - presents a growing challenge in today's complex, dispersed business organizations. Framed by corporate events and challenges and including case studies from the LIBOR rate scandal, the BP oil spill, Lehman Brothers, Royal Bank of Scotland and Enron, People Risk Management provides best-practice guidance to managing risks associated with the behaviour of both employees and those outside a company. It offers practical tools, real-world examples, solutions and insights into how to implement an effective people risk management framework within an organization.

List of contents

Figures and tables list01 People Risk in context
1.1 A quiet revolution in decision-making
1.2 The Global Financial Crisis
1.3 Failure to challenge
1.4 What is People Risk?
1.5 Structure of the book
1.6 Audience
Notes02 Definition and models of People Risk
2.1 Introduction - what is People Risk?
2.2 An example of People Risk Management
2.3 Definition of People Risk
2.4 Models of People Risk
2.5 The People Risk Triangle
Notes03 The human dimension of People Risk
3.1 Decision-making
3.2 Cognitive biases
3.3 Heuristics
3.4 Conflicts of interest
3.5 Systems of human decision-making
3.6 A hypothetical example
Notes04 Case studies in People Risk
4.1 Summary of cases
4.2 The 4Is Model
4.3 Incidents
4.4 Individuals
4.5 Institutions
4.6 Industry
4.7 Lessons to be learned from the cases studied
Notes05 People Risk Management Framework
5.1 Risk Management
5.2 People and other Risks
5.3 People Risks in the Risk Management Framework
5.4 Internal and External People Risks
5.5 People Risk and Conduct Risk
5.6 People Mapping
5.7 Identifying and assessing People Risks
5.8 Escalation of People Risks
5.9 Appetite for People Risk
Notes06 People Risk in the boardroom
6.1 Board governance and maturity
6.2 Boardroom dynamics
6.3 The role of the Chairperson
6.4 The role of the CEO
6.5 The warning signs
6.6 Monitoring board behaviour
6.7 What are the main People Risks in the boardroom?
6.8 Managing People Risk in the boardroom
Notes07 The influence of organizational culture
7.1 Culture in context
7.2 Understanding risk culture
7.3 Embedding a risk culture
7.4 Values
7.5 Trust
7.6 Example of risk culture and values in action - managing Health and Safety
Notes08 Roles and responsibilities
8.1 The Three Lines of Defence model
8.2 People Risk mitigation
8.3 Clarifying responsibilities in the lines of defence
8.4 High Reliability Organizations
8.5 The crucial role of Human Resources (HR)
8.6 Human Resources Risk Management
8.7 The Assurance functions
8.8 Auditing corporate culture
8.9 Values audit
Notes09 Improving decision-making
9.1 Making the Invisible Visible
9.2 Improving individual decision-making
9.3 Decision-making process
9.4 Checklists and decision-making
Notes10 Personal responsibility
10.1 Codes of Conduct
10.2 Personal responsibilities
10.3 Job Descriptions
10.4 Individual Interactions
10.5 Personalized Codes of Conduct
Notes11 Conclusion
11.1 Lessons learned
11.2 Regulation of People Risk
11.3 Starting the journey
11.4 What will success look like?
11.5 The imperative for change
NotesGlossary of terms and abbreviations
References
Index

About the author

Dr. Keith Blacker is an expert in risk management with nearly thirty years' experience having published many articles in academic and practitioner journals. A former lecturer at Henley Management College he has also consulted to a range of major banking and insurance companies in the UK, Europe and Africa including Lloyds TSB, Bank of Scotland and Santander. He was previously the CFO of a $500m turnover health insurance business and currently serves as non-executive director to a number of organisations.Dr. Patrick McConnell is currently a Visiting Fellow at Macquarie University Applied Finance Centre (MAFC) in Sydney where he delivers Masters level risk management courses. With over thirty years' experience in IT and risk management, he has consulted to a number of major banks and corporations including Barclays, JP Morgan, Lehman among others and has consulted to the Australian government as Risk Management Subject Matter Expert. He has published many articles on risk and IT in academic and practitioner journals and in 2010, he developed and delivered an ISO 31000 course for a leading standards body.

Summary

People Risk Management provides unique depth to a topic that has garnered intense interest in recent years. Based on the latest thinking in corporate governance, behavioural economics, human resources and operational risk, people risk can be defined as the risk that people do not follow the organization's procedures, practices and/or rules, thus deviating from expected behaviour in a way that could damage the business's performance and reputation. From fraud to bad business decisions, illegal activity to lax corporate governance, people risk - often called conduct risk - presents a growing challenge in today's complex, dispersed business organizations.

Framed by corporate events and challenges and including case studies from the LIBOR rate scandal, the BP oil spill, Lehman Brothers, Royal Bank of Scotland and Enron, People Risk Management provides best-practice guidance to managing risks associated with the behaviour of both employees and those outside a company. It offers practical tools, real-world examples, solutions and insights into how to implement an effective people risk management framework within an organization.

Foreword

Demonstrates how better people risk management can add measurable value to a business

Product details

• Authors: Keith Blacker, Blacker Keith, Patrick McConnell, McConnell Patrick
• Publisher: Kogan Page
• Languages: English
• Product format: Hardback
• Released: 03.03.2016
• EAN: 9780749479190
• ISBN: 978-0-7494-7919-0
• No. of pages: 312
• Dimensions: 175 mm x 250 mm x 20 mm
• Weight: 715 g
• Subjects: Social sciences, law, business > Business > Management; Business and Management, BUSINESS & ECONOMICS / Management, Business & management, Risk assessment