Enterprise Risk Management: Imperative for Enhancing Business Performance
About this course
Effective risk management supports the achievement of organization’s overall objective and plays a vital role in ensuring that an entity is well governed. Historically, risk management was managed in silos and as a separate activity without proper integration and embedding across the organization’s operations; this approach is no longer sustainable in the 21st century of increased VUCA (Volatility, Uncertainty, Complexity and Ambiguity). Events over the years have established that the lack of a proactive risk management program can have a serious knock-on effect on organization’s sustainability. This has therefore necessitated the adoption of an enterprise-wide risk management approach which considers an integrated and cross-functional method to managing organization’s risk.
This course provides a robust insight to the subject of ERM from the perspective of ISO 31000, COSO ERM Framework and other leading practice. It explores key features of each standard/framework to provide participants with improved knowledge and practical skills to adopt key elements of these standards in implementing a comprehensive framework for organizations.
Source – COSO ERM 2018
Our team of astute and certified risk professionals provide a learning center for professionals in Enterprise Risk Management and Governance. Participants will learn through our blended learning approach, including presentations, case studies and insight from real-world on the benefits of adopting leading practice standards.
VALUE OF ERM
- Improved control environment, better communications and decision-making, and a common language for risks.
- Competitive advantage by enabling effective running of organizations and improve efficiencies
- Reduces unacceptable variability in business performance
- Supports further integration of various risk specialist areas within an organization
- Enhance corporate governance and company reputation
- Aligns strategy and corporate culture to achieve business goals
WHO SHOULD ATTEND?
- Governance practitioners
- Chief Risk Officers
- Other Risk Management practitioners
- Compliance officers
- Money Laundering Reporting Officers
- Chief Audit Executives
- Internal Auditors
- Internal Control Officers
- Chief Finance Officers
At the end of this class, you should be able to do the following:
- Develop skills to design & implement an integrated, comprehensive & robust ERM framework and strategy
- Integrate and align key elements of various risk standards and models (ISO 31000, COSO ERM Framework, Combined Assurance Model) to organization’s ERM strategy
- Develop skills to conduct a risk analysis by developing a risk profile and using a risk matrix methodology
- Identify risks (and impacts) to achieving a set of objectives and expected results
- Develop capabilities to test the effectiveness of ERM Framework and strategy as fit-for-purpose or not.
- Understand the various approach to risk management through risk identification, risk analysis, risk assessment and mitigation.
- Understand the link between risk management and business decision making.