Advanced Enterprise Risk Management

Introduction

The turmoil in the world is continuing – with increasing public unrest fluctuating energy prices, natural disasters of a scale thought unimaginable, volatile stock markets and world geo-political and economic uncertainty.  In this time of global uncertainty how do you steer a course through these difficult waters?

Thankfully many organisations have realised that an Enterprise Risk Management (ERM) approach was needed. This has ensured that risks that were previously managed in isolation, can be aggregated and prioritized across the entire business.

However, this course on Advanced ERM goes one step further. Risks are evaluated based on business materiality. A new understanding of the risks then emerges, and efficient controls can be implemented to tackle what really matters to the business. In short, the focus becomes strategic value creation instead of risk avoidance.

This Enterprise Risk Management training course will provide the opportunity to:

• Take Enterprise Risk Management (ERM) to a strategic level
• Learn lessons from Global risk events
• Determine a clear risk attitude and appetite process
• Identify the key emerging risks
• Link risk clearly wit decision making

Objectives

After completing this Enterprise Risk Management training course you will be able to:

• Implement appropriate and varied techniques for the identification and assessment of risks
• Generate measurable value by aligning the Enterprise Risk Management (ERM) framework with corporate performance expectations
• Engage the Board in the analysis of enterprise risk scenarios
• Foster a culture that reinforces appropriate risk-taking to balance value creation and value protection
• Clarify Enterprise Risk Management (ERM) accountabilities of all employees from executives to the front line
• Implement Key Risk Indicators (KRI’s) for each line of business
• Enhance achievement of corporate objectives by linking performance targets, and risk management actions

Training Methodology

This is a advanced level training course and delegates should have previous experience in the risk arena. Delegates should have a good educational standard and/or a professional qualification but no advance preparation is required.

The delivery method will Group-live - with exercises and role-plays to simulate audit scenarios and situations that assurance professionals will encounter. A short examination will be given at the end of the training course.

Organisational Impact

This training course will benefit organisations in all business sectors. It will provide advanced tools and techniques to refocus the risk process towards business materiality with each risk being evaluated and compared by it’s financial, legal, reputational, and regulatory impact, and classified by the effect they could have on the business.

This Enterprise Risk Management training course will enable organizational knowledge to be enhanced in the following areas:

• The many and varied approaches for risk identification
• The use of sophisticated techniques such as Delphi, Monte Carlo and Bayesian network analysis
• Key Risk indicators
• How to energize your staff to manage risks
• Enterprise Risk Management (ERM) in projects

Personal Impact

This Enterprise Risk Management training course will enable delegates to enhance their personal knowledge in the following disciplines:

• Risk register effectiveness
• Driving risk ownership
• Developing decision-making and communicative skills
• Coordinating the ERM process
• Challenging risk evaluations
• Engaging top management in the ERM process