David Koenig discussed his book, Governance Reimagined: Organizational Design, Risk, and Value Creation, at MOI Global’s Meet-the-Author Summer Forum 2019. David is Founder of (b)right governance consulting.

Listen to this session:

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About the book:

Under the right circumstances, self-organized groups of people can do amazing things. We can create products and services that never existed before as well as invent new and better ways of performing both simple and complex tasks. Governance Reimagined skillfully outlines a practical, and innovative, approach that will help you achieve the elusive goal of successfully creating things of value, whatever your focus.

This book brings together ideas from a variety of disciplines, from practitioners, advisers, and academics, including the ideas of multiple winners of the Nobel Prize in Economics. Much of what you read here will be new to you as it has never been assembled in such a manner before. You won’t be able to look at your work, your social life, or your day-to-day interactions with people and businesses in the same way again.

Our past and current governance of risk-taking in pursuit of value has left much to be desired – in politics, business, and even at charitable organizations. There is an opportunity here to understand and to take risk better. It’s time for us to re-govern how we pursue our ambitions – to make our governance processes better. In this book, you’ll be guided to reimagine a form of governance that begets the freedom to make decisions, fosters innovation and the effective use of scarce resources. This approach to governance allows us to maximize our output relative to the freedom others have entrusted in us to pursue ideas. We’re looking to re-govern what we’ve been doing, so that we can do it better, creating more value, in its many diverse measures and, at the same time, more ably fulfilling our highly diverse values.

The response to the first edition of this book has been overwhelmingly positive with endorsements of its contents coming from some of the leading figures in global corporate governance. Written for directors, corporate executives, elected officials, regulators, students, and those involved in the governance of risk-taking at all types of organizations, there is no other book quite like it.

About the author:

Since he began his career in 1985, David’s work has been focused on helping organizations to be more successful in achieving their goals through better risk-taking and better risk governance. Because of his innovative approach to risk, he’s been invited to present his ideas at more than 100 events on five continents.

He’s served on numerous for-profit and non-profit boards and has advised board members and executives around the world. His executive leadership roles have included serving as chief executive officer, senior executive responsibilities for the creation and development of corporate risk management programs at three different companies, the management of complex portfolios in excess of tens of billions of dollars in size, the risk oversight of a complete suite of public mutual funds for one of the nation’s largest banks and the development of the first firmwide risk management program in the mortgage banking business.

David is the author of the critically acclaimed book Governance Reimagined: Organizational Design, Risk, and Value Creation, is a Research Fellow and Member of the Advisory Board at the IIT Stuart Graduate School of Business’ Center for Corporate Performance, is a member of the Editorial Board of the Journal of Risk Management in Financial Institutions where he was the invited Special Editor of two issues, and was named as one of the winners of the inaugural M-prize for management innovation in the category of Reinventing Leadership.

David has written numerous articles and chapters in textbooks. He’s been quoted in Time Magazine, the Wall Street Journal, Forbes, and other leading publications and, in his youth, was a regular guest on the Financial News Network (now CNBC).

He is the founder of the Directors and Chief Risk Officers group (“the DCRO”), The DCRO was formed in 2008 to focus on the top-level governance of risk in practice. Bringing together leading board members, chief risk officers, and other c-level officers whose jobs include a fiduciary responsibility for governance and risk management, the DCRO counts more than 2,000 members from large and mid-size for-profit and nonprofit organizations, coming from over 115 countries. David led the work of the DCRO Qualified Risk Director Governance Council, responsible for the DCRO Qualified Risk Director Guidelines, and the DCRO Compensation Committee Risk Governance Council, which is responsible for the DCRO Guiding Principles for Compensation Committees.

He is one of the founders of the Professional Risk Managers’ International Association (PRMIA), where he led that organization and the PRMIA Institute from their founding until 2007. By the time he handed over the reins, the organization had more than 45,000 members from over 180 countries and annual revenues had grown from zero to over $2.5MM. He served as the Chair, Board of Directors of PRMIA, the Chair of that organization’s Ethics Committee, a member of its Academic Advisory Council and a member of its Education and Standards Committee. He had oversight of the development of all publications, training programs, member and volunteer relations, and strategic planning. He was honored as the recipient of the PRMIA Higher Standard Award in 2008 – the top recognition bestowed on any member of the association.

David was a Mentor for the 2012 class of the acclaimed MiddCORE program of Middlebury College. He was also the only non-alumnus invited to be a member of the 2011 TRIUM MBA Term Project Executive Board (TRIUM is a joint program of NYU Stern School of Business, the London School of Economics and Political Science, and HEC School of Management, Paris). He has taught Corporate Finance and Investments courses at St. Olaf College.

He is a proud member of Rotary International and has earned multiple Paul Harris fellowships. He volunteers for Rotary Youth Exchange, is the Chair of the local Rotary Ethical Leadership Committee, and served on the Rotary District 5960 Ethics Committee.

David earned his M.A. in Economics from Northwestern University and his B.A. degrees in Mathematics and Economics from Miami University in Oxford, OH. He practices his work from an office in the beautiful college town of Northfield, MN.