The Center for Excellence in Enterprise Risk Management was established at St. John’s University’s Peter J. Tobin College of Business. The Center, lead by Dr. Paul L. Walker, is housed in The Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science (GSRM) at 101 Astor Place in Manhattan.
Become a leading center that brings together students, academicians, executives, and board members for the purpose of developing and sharing knowledge, tools, and best practices in Enterprise Risk Management.
Dr. Walker co-developed one of the first courses on Enterprise Risk Management (ERM) and has done ERM training for executives and boards around the world. This training includes helping boards develop risk oversight practices, benchmarking ERM practices, advising organizations on ERM process development, and identifying black swans and unknown risks. He has also researched ERM at the headquarters of companies such as Wal-Mart, Microsoft, DuPont, Intuit, Harley-Davidson Inc, Raytheon, and others. He has written extensively on risk and ERM including the books Improving Board Risk Oversight through Best Practices, Making Enterprise Risk Management Pay Off and Enterprise Risk Management: Pulling it All Together. He has also coauthored several articles on ERM including: Is your Board Ready for ERM, The Strategic Advantage of ERM, Managing Risk: An Enterprise-Wide Approach, A Road Map to ERM, and ERM and the Strategy-Risk Focused Organization.
Center/Executive Director activities include:
Other Center and Center Director activities include:
Paul L. Walker, Ph.D., CPA
James J. Schiro / Zurich Chair Enterprise Risk Management
101 Astor Place
St. John’s University
New York, NY 10003
Welcome to the Center for Excellence in ERM.
We are growing the body of knowledge in the field of risk, enterprise risk management and board risk oversight through a combination of research, workshops, whitepapers, and conversations.
Working alongside our key partners, outstanding alumni, and business friends, we strive to bring together boards, executives, professionals, and students to discuss risk and ERM. Examples of prior events include ERM roundtables and a CFO risk panel.
We also stay connected to various stakeholder groups to enhance our understanding of the needs of executives working in ERM. We currently volunteer for Financial Executive International (Governance, Risk and Compliance Committee and the Research Foundation), the Institute of Internal Auditors (Committee of Research Advisors), the Strategic Risk Management Committee of RIMS, and other groups, including the AICPA, IMA, and ACCA.
The Center Director was one of the original advisors on COSO’s development of the first ERM Framework. Additionally, the Center Director is currently a member of COSO’s ERM advisory Council (as COSO revises their framework).
We also offer both a MS in Enterprise Risk Management and executive education programs. The information developed for the course work is based on research and work done at more than 50 major organizations. Examples of organizations the Center Director has worked with include: Wal-Mart, Microsoft, Harley-Davidson, Raytheon, Intuit, VMWare, ADP, the United Nations, the Federal Reserve Bank, CONSOL, Highmark, Hospira, DuPont, Lego, AARP, University of Maryland, Boise Inc., University of Virginia, and several others.
Come join us as we explore the knowns and unknowns in managing organizations.
Dr. Paul L. Walker
Retired VP Global Enterprise Risk Management, PepsiCo
Corporate Controllers Analyst, Jefferies LLC
Chief Audit Executive, Advance
Retired Chief Audit Executive, Unisys
Global Enterprise Risk Management Sr. Director, PepsiCo
Director of Enterprise Risk Management, IBMDeon Minnaar
Global Leader for Internal Audit, SOAS,
and ERM, KPMGAdrian Mueller
Vice President, Risk Management, Enterprise Risk Management, MasterCardRich Muzikar
Enterprise Risk Management Advisor, Long Island Power AuthorityMatthew Perconte
Managing Director, ProtivitiSteve Richard
Senior Vice President, Chief Risk Officer,
Becton Dickinson & CoChris Ruggeri
National Managing Principal Risk and Financial Advisory, DeloitteKelli Santia
Risk Manager, Strategic Risk Management,
General MotorsDenise Sobczak
Global Enterprise Risk Management Sr. Director, PepsiCo
Vice President, Enterprise Risk Management & Global Insurance, Estee Lauder
Director of SOX & Enterprise Risk Management, Con Edison
Chief Risk Officer, Global Specialty, AIGStephen Zawoyski
Partner – Internal Audit, Compliance, Risk Services – ERM Leader, PWC
“Enterprise-Wide Risk Management: Recommendations to COSO.” Research report prepared for COSO to determine if an enterprise risk framework is necessary. With Scott and Shenkir. 2000.
“Teaching a Risk Assessment Course.” With Shenkir. Advances in Accounting Education, 2000.
"Managing Risk: An Enterprise-wide Approach." With Barton and Shenkir. Financial Executive, March/April, 2001.
"A Road Map to Risk Management." With Bodine and Pugliese. Journal of Accountancy, December, 2001.
“Developing Risk Assessment Skills: An Investigation of Business Risk and Controls at Prudential Insurance Company of America." With Hunn and Shenkir. Issues in Accounting Education, 2001.
"Making Enterprise Risk Management Pay Off." With Barton and Shenkir. Financial Executives Research Foundation, 2001. Reprinted by the Financial Times in 2002. Reprinted by Toyo Keizai in 2003 (Japanese translation). Reprinted in Russian in 2003.
"Enterprise Risk Management: Pulling it All Together." With Barton and Shenkir. Institute of Internal Auditors, 2002.
“Enterprise Risk Management in Practice.” August, 2003, Internal Auditor. With Shenkir and Barton.
“Implementing Enterprise Risk Management.” May, 2004, Kinzai. With Shenkir.
“Enterprise Risk Management and the Strategy-Risk-Focused Organization” (with Shenkir). Journal of Cost Management, May/June 2006.
“Enterprise Risk Management: Frameworks, Elements, and Integration.” Statements on Management Accounting for the IMA. With Shenkir. 2006.
“Enterprise Risk Management: Tools and Techniques for Effective Implementation.” Statements on Management Accounting for the IMA. With Shenkir. 2007.
“Accounting Policy and Practice: Enterprise Risk Management.” Book published by the Bureau of National Affairs. With Shenkir. 2007.
“Implementing Enterprise Risk Management.” Journal of Accountancy. With Shenkir. 2008.
“Ensemble Performance: Enterprise Risk Management,” Business Officer. With Shenkir. 2008.
“Managing the Unthinkable Event,” Financial Executive. With Barton and Shenkir. 2008.
“Enterprise Risk Management: Evolution of a Balancing Act,” Financial Executive. With Barton and Shenkir. This paper was selected by the Financial Executives Research Foundation to be in their “Hall of Fame” publications presented at their Annual Gala (which celebrated 65 years of FERF research). 2009.
“Enterprise Risk Management: Lessons from the Field,” book chapter in Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow’s Executives. With Barton and Shenkir. 2010.
“A New Look at ERM from Crisis Aftermath,” Financial Executive. With Barton and Shenkir. 2010.
“Issue Alert – Proxy Disclosure Enhancements and ERM Opportunities,” With Barton and Shenkir. This project was sponsored by and published for Financial Executives International. 2010.
“Improving Board Risk Oversight Through Best Practices.” Institute of Internal Auditors. With Barton and Shenkir. 2011.
“Strategic Advantage of Enterprise Risk Management.” Risk Management. With Driscoll and Torok. 2011.
“Enterprise Risk Management: Is Your Board Ready for ERM.” Financial Executive. With Barton and Shenkir. 2011.
“Enterprise Risk Management: A Process for Enhanced Management and Improved Performance.” Management Accounting Quarterly. With Gates and Nicolas. 2012. In 2013, this paper received a “certificate of merit” award for being one of the best papers in this journal.
“Enterprise Risk Management: Skipping the ERM Tune-Up: Pay Now or Pay Later.” With Barton and Shenkir. Financial Executive. 2012. Republished by the FEI Daily in Feb 2015.
“A Risk Management Heat Map for the U.S.” With Barton and Shenkir. Financial Executive. 2013.
“Strategic Risk: do not forget your supply chain.” With Conrad (Zurich). Center for Excellence in ERM white paper series.
“Strategic Risk: do not forget your supply chain.” With Conrad (Zurich). Financier Worldwide. 2013.
“Enterprise Risk and the Board of Directors.” Business Horizons, Issue 10, 2014.
“Becoming a More Strategic Auditor.” Institute of Internal Auditors. 2014.
“A Risk Challenge Culture.” With Shenkir and Barton. 2014.
“The Journey to ORSA Begins.” White paper with Protiviti. 2014.
“Establishing a Risk Challenge Culture.” Strategic Finance. 2015.
Embedding ERM into the Organization (PDF)
Digital Disruption and Transformation Risks (PDF)
The ERM Journey (PDF)
Corporate Risk Disclosures: Consistency or Disparity (PDF)
Managing Risk in a Disruptive World (PDF)
Strategic Risk: Another Link in the Supply Chain (PDF)
Enterprise Risk Management: Frameworks, Elements, and Integration (PDF)
Enterprise Risk Management: Tools and Techniques for Effective Implementation (PDF)
Proxy Disclosure Enhancements and ERM Opportunities (PDF)CFO of the Future (PDF)
Macro Risk Analysis (PDF)
ERM and Reputational Risk (PDF)
Innovation and ERM – Partners in Managing the Waves of Disruption (PDF)
Noise to Signal to Business Models (PDF)
Risk Challenge Culture (PDF)
The Clunky Dance between Strategy and Risk (PDF)