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CONTENTSBUSINESS RISKA PRACTICAL GUIDE FOR BOARD MEMBERSIntroduction: Simon Walker, Director General, Institute of DirectorsForeword: Sir John Parker, Chairman, Anglo-AmericanPART 1: THE ISSUESChapter 1 7A world of dangerNicolas Aubert, UK Managing Director,ChartisChapter 2 13The board’s distinctive rolein risk oversightDr Roger Barker, Head of CorporateGovernance, Institute of DirectorsChapter 3 19Key challenges facing boardsin risk oversightAlpesh Shah, Actuarial Risk PracticeDirector, and Richard Sykes, Governance,Risk & Compliance UK Leader, PwCPART 2: THE SOLUTIONSChapter 4 25The board’s role in establishingthe right corporate cultureRoger Steare, Professor of OrganisationalEthics at Cass Business School,City UniversityChapter 5 33Risk and strategyAlpesh Shah and Richard Sykes, PwCChapter 6 41Defining the risk appetite/risktolerance of the organisationTom Teixeira, Practice Leader, GlobalMarkets International, Willis GroupChapter 7 47Board compositionSir Geoffrey Owen, Senior Fellow,The London School of Economics andPolitical ScienceChapter 8 53The boardroom conversationAlison Hogan, Managing Partner, AnchorPartners, with Ronny Vansteenkiste, SVP,Group Head Talent Management &Organisation Development, Willis GroupChapter 9 61Information and the boardDavid Jackson, Company Secretary, BPChapter 10 67Interaction with shareholdersDavid Pitt-Watson, Chair, Hermes FocusAsset ManagementChapter 11 73The personal risks facing directorsGrant Merrill, Chief Underwriting Officer,Commercial Institutions, Financial Lines,ChartisChapter 12 79The final wordJohn Hurrell, Chief Executive, AirmicCase studiesLessons from major risk events arehighlighted throughout the Guide.For details, see page 123