The rise in the volume and complexity of risks facing organizations—whether from insider threats, cyberattacks, shooters, or brand damage—requires more effective risk avoidance, risk mitigation, risk transfer, and asset (human and physical) protection.
Enterprise Risk Management (ERM) is a structured, proven process for proactively identifying and evaluating how events and forces of change impact an organization and its strategy, and for developing measures for dealing with the risks that constantly threaten the achievement of an organization’s objectives. Enterprise risk managers provide the leadership, innovation, and management necessary to identify, evaluate, manage, and monitor an organization’s portfolio of risks.
Professionals who employ methods and practices to anticipate, identify, and optimize business risks and create plans to minimize them are part of a growing, specialized field. Enroll for the Exam NOW!
OVERVIEW OF ERM
- What is Risk ?
- 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?
- 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
- What is Risk?
- What is risk management?
- What is Enterprise Risk Assessment (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
- Introduction to ERM frameworks
- ERM frameworks
- Essential ERM components
- The Committee of Sponsoring Organization (COSO) ERM framework
- ISO 31000 ERM
- Basel 2 Capital Accord
- FERMA ERM framework
- OCEG ERM framework
- Australia/new Zealand Standard (ASS/NZS 4360:2004)
DEVELOPING & IMPLEMENTING A RISK MANAGEMENT FRAMEWORK
- STRATEGIC STEPS
- ERM CAN ANSWER 3 BASIC BUSINESS QUESTIONS
- THE ERM FRAMEWORK
- HOW ERM FRAMEWORK CAN ANSWER BUSINESS QUESTIONSWHAT IS A RISK MANAGEMENT FRAMEWORK? PURPOSE OF A RISK MANAGEMENT FRAMEWORK
- HARD” VERSUS SOFT ASPECTS OF RISK MANAGEMENT
- THE KEY ELEMENTS OF A RISK MANAGEMENT FRAMEWORK
- KEY CONSIDERATIONS WHEN DEVELOPING A RISK MANAGEMENT FRAMEWORK
- AVOIDING THE COMMON PITFALLS KEY MESSAGES IN DEVELOPING YOUR FRAMEWORK
- WHY IS RISK MANAGEMENT DOCUMENTATION IMPORTANT?
- RISK MANAGEMENT GOVERNANCE
- HOW TO IDENTIFY YOUR RISK MANAGEMENT INFORMATION REQUIREMENTS
- DEVELOPING APPROPRIATE TOOLS AND TECHNOLOGY
- CHECKLIST – DEVELOPING A RISK MANAGEMENT FRAMEWORK
ERM & 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
STEPS TO EFFECTIVE ERM IN AN ORGANISATION
- What is ERM?
- Creating an effective ERM program
- A comprehensive ERM program will:
- Steps to effective ERM in an organisation
- Common issues in creating effective ERM program
- What is needed to excel at ERM?
RISK GOVERNANCE & ENTERPRISE RISK MANAGEMENT
- WHAT IS RISK GOVERNANCE?
- RISK GOVERNANCE AND ERM
- TYPICAL RISK GOVERNANCE MODEL
- DRIVERS OF RISK GOVERNANCE
- STEPS BOARD CAN TAKE FOR EFFECTIVE RISK GOVERNANCE
AVOIDING THE PITFALLS IN ERM IMPLEMENTATION
- MONITORING ERM MATURITY – ERM FRAMEWORK
- ERM DEVELOPMENT INFLUENCED BY SEVERAL FACTORS
- ERM – SPECIFIC TO EACH COMPANY’S NEEDS
- ERM IN THE FINANCIAL SERVICES INDUSTRY – A HISTORICAL PERSPECTIVE
- ERM LESSONS LEARNT FROM THE FINANCIAL CRISIS
- SOME ERM DEVELOPMENT CHALLENGES
- THE PITFALTHE PITFALLS IN ERM IMPLEMENTATIONLS
- THE PITFALTHE PITFALLS IN ERM IMPLEMENTATIONLS –SUMMARY
- ERM-KEYS TO SUCCESS
WHO CAN BENEFIT
- Enterprise Risk Managers
- Strategic Advisors
- Business Continuity Planners
- Managers in Business Resiliency & Risk Reduction
- Operational Risk Managers
- Finance Executives
- Human Resource Professionals
- Executives in Non-Profit Organizations
- Internal and external auditors
- Policy Makers
- Sales and Marketing Managers
- Risk, audit and compliance Practitioners
- Quality Assurance Officers
- Strategic Planners
- Procurement and Outsourcing Professionals
- Operations and logistics Officers, etc
DURATION: 5 days [ 5 Hours each day]