PROGRAM OVERVIEW

The RMA CERA is one credential based on mastery of one set of learning objectives with accreditation applied on a consistent basis worldwide. No other credential comprehensively meets the global needs in risk management. This is a world-class program that combines real life experience with the theoretical, practical and professional principles of ERM. The program is recognized worldwide and transferable internationally and is consistent with modern, effective methodologies in ERM. It applies both qualitative and quantitative insights into ERM and equips risk management professionals to empower better business decisions and more profitable business developments.

An RMA CERA holder will have a thorough understanding of:

  • the concept of ERM
  • the drivers behind ERM – governance, regulation, improvements in understanding of risk and techniques for measuring and managing risk, enterprise value protection and creation, etc.
  • practical aspects of ERM, including all elements of a robust risk management framework and its operation, and critical success factors
  • the quantification of risk, including tools and techniques and supporting mathematics
  • practices and techniques for the management of risk, including control, mitigation, transfer, avoidance, and exploitation of risk opportunities
  • the economic value added by sound ERM
  • important regulation and regulatory capital requirements.

DELIVERY METHODOLOGY

  • The training program would be delivered both online/onsite /virtual/classroom [ after the Covid-19 era]. A lot would depend on the requirements of our clients/participants.
  • We shall use blended learning in which our participants would learn at least in part through delivery of content and instruction via digital and online media with some element of their controls over time, place, path, or pace. While participants would still have to attend the program in some cases via face-to-face classroom methods after Covid-19, it would be combined with computer-mediated activities.
  • On the whole, we shall adopt the  “hybrid learning,” “technology-mediated instruction,” “web-enhanced instruction,” and “mixed-mode instruction” to achieve optimal/stellar results.
  • We shall also use Simulators to imitate/apply real work experiences
  • There would also be group discussions, role playing and management games.

BENEFITS OF  CERA

  • A CERA professional is a person who offers a 360-degree view of risks.
  • The person blends both qualitative and quantitative aptitudes to analyze risks and takes integral actions.
  • CERA professionals work in high-risk competitive business environments to offer a holistic approach to risk management.
  • Such professionals have strong ERM knowledge, ethics and leadership skills to undertake multiple roles in an organisation.
  • Employers hire CERA professionals to provide comprehensive outlook towards enterprise risk management. It helps them to strengthen internal ERM programs and enhance the output of human capital;
  • CERA professionals are instrumental to setting-up ERM programs and the company benefits in the form of strong financial assessment skills;
  • CERAs on-board help an organisation to maintain strong financial control and reporting;
  • CERA holders are able to identify and assess security issues, identify business volatility and undertake remediation measures; and
  • CERAs help companies to maintain global competitiveness.

LEARNING OUTCOMES

At the end of the program, participants would be able to:

  • Understand the nature and dynamics of risk;
  • Appreciate the difference between ERM and ‘’the silo approach to risk management’’;
  • Distil the ERA methodology;
  • Analyze Enterprise Risk Analysis by priotising risks for maximum benefits;
  • Present an overview of the ERM process;
  • Evaluate the risk assessment process;
  • Describe risk analysis framework;
  • Explain key considerations for assessing and analyzing an ERA process;
  • Explain the tools for successful Enterprise risk analysis;
  • Establish the connection between risk appetite & ERM

WHO WOULD BENEFIT?

  • Executives and board members
  • Chief Risk Officers
  • Risk management professionals
  • Accountants
  • Internal auditors/Controls
  • Compliance professionals
  • Governance professionals
  • Consultants
  • Legal professionals
  • IT professionals
  • Public Sector Managers
  • Managers responsible for risk and compliance activities

SKILL REQUIREMENTS

  • Individuals with degrees in finance, Mathematics, Economics and Business have higher chances of qualifying as  CERAs.
  • The following skills are key:
    • Keen business sense and knowledge of Economics, Finance and Accounting;
    • Sound written and oral communication;
    • Familiarity with spreadsheets, word processing, databases and programmed statistics; and
    • Problem-solving and analytical skills.

Course Modules

NATURE AND TYPES OF RISKS FACING ORGANISATIONS

  • What is risk?
  • Risk – Reward Equation
  • Types of Risk
  • Operational Risk
  • Credit Risk
  • Market Risk
  • Reputational Risk
  • Legal Risk
  • Compliance/Regulatory Risk
  • Strategic Risk
  • Liquidity Risk
  • Environmental Risk

INTRODUCTION TO ERM

  • Global risks
  • Traditionally risk was managed within “silos”
  • ERM-address all risks
  • Traditional risk management vs ERM
  • Limitations with traditional approaches to risk management
  • Why focus on enterprise wide risk management?
  • Why focus on enterprise wide risk management?
  • Risk management evolution
  • Key elements in identifying enterprise risk
  • Enterprise risk methodology
  • Enterprise risk management process
  • Evolution of industry practices
  • What is enterprise-wide (integrated) risk management (ERM) ?
  • Elements of an ERM process
  • Establishing an ERM framework
  • Why is ERM Important?
  • Typical Functions Involved in ERM
  • KEY Elements/Components of ERM

ENTERPRISE RISK ASSESSMENT

  • QUOTABLE QUOTES
  • WHAT IS ERM?
  • ERM PROCESS
  • OVERVIEW OF THE ERM PROCESS.
  • WHAT IS ERA?
  • ERA METHODOLOGY
  • ERA CORE CRITERIA DATA
  • DATA COLLECTION TECHNIQUES
    • DATA COLLECTION TOOLS
    • RISK RANKING
    • RISK MATRIX
    • RISK CATEGORIZATION
    • RISK MITIGATION
    • RISK MITIGATION APPROACHES
    • RISK RESPONSE PLAN
  • KEY CONSIDERATIONS FOR ASSESSING  AND ANALYZING AN  ERA PROCESS
  • CONCLUSION

INTRODUCTION TO RISK ANALYSIS

  • Risk Analysis Framework
  • The Risk Assessment Process
  • The Opportunity Assessment Process
  • When to Use Risk Analysis
  • How to Use Risk Analysis
  • Risk Impact/Probability Charts
  • Things to Keep in Mind

ENTERPRISE RISK ANALYSIS: PRIOTISING RISKS FOR MAXIMUM BENEFITS

  • INTRODUCTION
  • RESOURCE CONSTRAINTS AND RISK ANALYSIS
  • COMBINING ASSESSMENT WITH ANALYSIS: COMMON PROBLEMS
  • TOOLS FOR SUCCESSFUL ENTERPRISE RISK ANALYSIS

ERM ANALYSIS & RISK APPETITE

  • Definition of Risk Appetite
  • Considerations Affecting Risk Appetite
  • Interrelationship of Strategy, Management Decisions, and Risk Appetite
  • Risk Appetite Statements
  • Characteristics of Effective Risk Appetite Statements
  • Sample -Appetite Statements
  • Risk Appetite and Risk Tolerance
  • Risk Tolerances Are Always Related To Risk Appetite And Objectives
  • Developing Risk Appetite
  • Benefits of Articulating Risk Appetite
  • Developing a Risk Appetite
  • Risk Appetite-Roles
  • Board’s Role In Risk Appetite
  • RISK APPETITE SCALE
  • Risk Appetite & ERM
  • Syndicate Session

ROOT CAUSE ANALYSIS

  • Brainstorming
  • Flowcharting
  • 5 Whys
  • Fishbone diagrams
  • Affinity Diagrams

RISK VELOCITY

SCENARIO PLANNING

RISKS TO ACHIEVING STRATEGIC OBJECTIVES OR MISSION