The Challenges and Opportunities for ERM

Dear Colleagues,

The global COVID-19 pandemic has created new challenges for the evolution of Enterprise Risk Management (ERM). Although pandemic risk was recognized as a focus of risk management, the COVID-19 outbreak has shown that the impact of a pandemic was underestimated in both magnitude and dimension. Moreover, the inability to estimate reliably the persistence and effects of the pandemic has highlighted ERM’s role in evaluating and defining enterprises’ risk appetite and its importance in helping boards and management create, preserve, and realize value. This recognition illustrates that pandemic risk is a threat to an entity’s overall strategic objectives and emphasizes that many organizations risk management approaches need a substantial redefinition. An effective ERM function focused on governance and culture, which helps an organization align risk management with strategy, will aid the organization in identifying opportunities that may be missed. Existing industries and processes will be transformed as risks change and evolve, creating significant transformation.

This Special Issue of the Journal of Risk and Financial Management (JRFM) calls for papers that will examine the preparedness, consequences, and response to COVID-19 risk from an ERM perspective. We invite papers that apply various methodologies in an interdisciplinary context. We particularly invite submissions that address the following issues and questions:

• The identification, assessment, and evaluation of risks associated with pandemics such as COVID-19 and the derivative risks caused by a pandemic;
• The role of ERM in identifying and monitoring specific high-impact low-probability risks;
• The role of ERM in providing a framework for organizations to face the transformation of inherent risks by the COVID-19 pandemic;
• The importance of ERM maturity in understanding and responding to COVID-19;
• The role of culture in implementing a successful ERM response to COVID-19;
• Use of methodologies to evaluate and monitor long-term trends and the risks that they pose;
• Role of COVID-19 treatment: challenges, new risk management methods, and risk response strategies to COVID-19 disruptions in operating activities;
• The effect of COVID-19 reporting and communication.

Prof. Dr. Don Pagach
Prof. Dr. Monika Wieczorek-Kosmala
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

• COVID-19 
• Enterprise Risk Management (ERM) 
• Risk analysis 
• Risk reporting