Public Sector Enterprise Risk Management

Kenneth C. Fletcher is President, Kestrel Hawk Consulting, retired federal senior executive,and former Chief Risk Offi cer, Transportation Security Administration.Thomas H. Stanton is Adjunct faculty, Johns Hopkins University, former president, Associationfor Federal Enterprise Risk Management, and former federal senior executive.

"This book makes a major contribution to the advancement of Enterprise Risk Management in the public sector. It offers valuable conceptual frameworks and case studies and explores ways that agencies can improve their risk cultures, harmonize internal controls with ERM, and work with the Inspector General. There is nothing in the literature comparable to this book, which will be extremely useful for agencies at all levels of government in most developed countries as they work to implement ERM."—John Fraser, Former Senior Vice President and Chief Risk Officer, Hydro One Networks Inc"My compliments to the authors of Public Sector Enterprise Risk Management: Advancing Beyond the Basics, who cover all the bases of the challenges, opportunities, and approaches to generating real value with ERM in the Federal government. Their examples are detailed, practical, and enlightening, and serve as a useful guide for the Federal ERM community."—David M. Fisher, Former Chief Risk Officer of the Internal Revenue Service"In my many roles as a career executive and Presidential appointee, I appreciate the complexity and diversity of the many missions of our public sector agencies. Having helped launch ERM in July 2016, this book further shines a light on the need to implement an ERM program and how to fully integrate it in all aspects of the daily delivery of government mission and services ."—David A. Mader, Former OMB Controller and IRS Assistant Deputy Commissioner "An essential reference for government risk practitioners interested in overcoming barriers to developing a risk mature culture in their organization. The case studies and special topics provide an invaluable guide to achieving maturity in effective risk management and a positive risk culture in government."—Sallyanne Harper, Co-founder and Past President of the Association for Federal Enterprise Risk Management (AFERM)

• Part 1: Introduction 1. Introduction: Challenges in Implementing ERM in the Public Sector Part 2: Overcoming ERM Implementation Challenges – Selected Case Studies 2. Change Management and Developing Organization Risk Culture: Transportation Security Administration (TSA) Case Study 3. Using Data and Analysis to Add Value from ERM 4. Laying the Groundwork for ERM: The Evolution of ERM at the U.S. Department of the Treasury 5. ERM and Local Government: King County Washington Part 3: Selected Special Topics 6. Enhancing Capabilities and Culture Through Effective Coordination of Enterprise Risk Management and Internal Control 7. Working with the IG and GAO: Creating a Win-Win Relationship 8. Cultivating and Measuring Risk Culture to Achieve Forward Momentum on ERM Part 4: Conclusion 9. Enterprise Risk Management: A Powerful Management Tool