Enterprise Risk Management

Enterprise Risk Management

OBJECTIVES

• Improved profitability and performance
• A comprehensive view of risks and controls throughout the organisation
• Risk-based management of resources and capital
• Enhanced dialogue with rating agencies and regulators
• Greater integration of governance, risk and compliance

WHO SHOULD ATTEND?

Risk management practitioners, Finance officers, IT staff, Internal auditors, Operations staff at all levels.

COURSE OUTLINE

Understanding ERM

• Understanding the role of ERM in an increasingly complex and uncertain environment
• Defining ERM drivers and characteristics
• Getting to know the different ERM standards and frameworks       e.g. ISO 31000, ANZ ERM
• Understanding the 2017 updated COSO ERM framework
• Understanding the ERM framework architecture and its importance in the organization

Risk strategy

• Understanding the importance of risk in setting strategy, ormulating business plans and managing performance and rewards

Risk appetite

• Defining risk appetite and its importance in the risk strategy of the organization
• Differentiating risk appetite and risk tolerance
• Analyzing how risk appetite can be articulated for a range of risk types

Risk profile

• Defining risk profile
• Articulating the steps to establishing your corporate risk profile:

• Risk identification
• Risk analysis, including risk modeling and the various risk analysis techniques
• Risk evaluation
• Risk mitigation

Risk governance

• Describing the components of Governance, Risk and
• Compliance (GRC)
• Evaluating the various types of governance structure
• Defining the roles and responsibilities of key GRC personnel:
• Creating an accountability structure
• Defining GRC oversight roles

Risk monitoring and reporting

• Defining risk monitoring and reporting framework in your organization
• Understanding and designing Key Risk Indicators (KRIs)
• Understanding the different risk policy components

Risk culture

• Defining risk culture
• Assessing the risk culture maturity in your organization
• Establishing the desired level of risk culture maturity – factors
• influencing the desired level of maturity