Bridges the gap between the risk management and audit functions with a common framework and vocabulary

List of contributors
About the author
Foreword by Kevin Knight
Foreword by Norman Marks
Acknowledgements
List of abbreviations

Introduction
01 Background to risk maturity models
Introduction
Concepts and definitions
Origins in capability maturity models
Misunderstanding 1: all models are born equal
Misunderstanding 2: global best practice
Misunderstanding 3: progression without regression or stasis
Misunderstanding 4: just a tool
Summary

02 The case for a risk maturity model
Introduction
Benefits delivered by ERM and a risk maturity model
Assessing risk management effectiveness
Alternatives complement using a risk maturity model
Limitations to using a risk maturity model
Summary

03 Comparing risk maturity models against each other
Introduction
Dealing with biases when comparing risk maturity models
Approach to comparing risk maturity models
Tiering the models
Directory comparing 75 maturity models
Results and analysis of the directory of risk maturity models
Summary

04 Tailoring and benchmarking a risk maturity model
Introduction
Tailoring and benchmarking
Tailoring by ERM standards and voluntary codes
Tailoring by corporate governance codes and guidance
Tailoring by sectors
Tailoring by organization operating model
Tailoring by risk function operating model
Tailoring by economic value chain
Tailoring by key performance indicators
Tailoring by context and design-related methods
Summary

05 Designing a tailored risk maturity model
Introduction
Components of a maturity model
Domains as a component of a maturity model
Capabilities as a component of a maturity model
Scales as a component of a maturity model
Levels as a component of a maturity model
Alternative design formats
Enhancements to the design of a maturity model
Optimizing objectivity, tailoring and reporting
Summary

06 How risk, audit and board functions benefit from risk maturity
Introduction
The risk function and risk maturity
The internal audit function and risk maturity
The board and CxO function and risk maturity
Benefits for risk, IA and board functions
Summary

07 Summary of risk maturity models from practitioner perspectives
Practitioner Megan learns to leverage resources to move up the curve
Practitioner Chris learns to keep it simple moving up the curve
Practitioner Asha learns advanced external benchmarking
Practitioner Alan learns advanced self-benchmarking
Summary and future moving up the risk maturity curve

Glossary
References
Further reading
Index