ABSTRACT
Success could simply mean a completed implementation, but it could also refer to the positive effects that may derive from the application of an Enterprise Risk Management (ERM) framework. This chapter first summarizes what ERM is, with some effort to pinpoint the leadership elements within this view. This is then further illuminated through a discussion of the research findings on the effects of ERM adoption published to date. The chapter provides speculations about the Chief Risk Officer role as well as the risk leadership implications of ERM adoption more broadly. It probes the evidence of whether, particularly, ERM is a value-adding exercise for firms and provisionally concludes there is no clear support that it does. This gives rise to the possibility that perhaps the ERM concept is improperly conceived, or that conventional measures of its value are measuring the wrong things.
