Course Objectives
Enterprise Risk Management
Course Methodology
The course is based on detailed explanations by the instructor and presentations by both the participants and the instructor. It also includes several case studies related to different industries and areas of the business.
Course Objectives
By the end of the course, participants will be able to:
Identify internal and external changes that will create risks to the organization
Understand the relation with the board of directors through governance and improve Risk-Based Decision Making (RBDM)
Influence internal controls by choosing the response to the risks identified
Classify risk categories in the organization and identify the right authorities to manage them
Analyze, assess and improve risk management practices within the organization
Target Audience
Managers, senior managers, directors, executives, financial controllers, senior accounting and finance personnel, and auditors.
Target Competencies
Improving risk monitoring and control
Analyzing and assessing risks
Advising directors on risks
Controling risks
Mitigating risks
Reporting risks
Course Outline
Introduction
Risk perception
Why should we care about risk
Internal environment changes
External environment changes
Risk management and corporate governance
Introduction to corporate governance
GRC concept: governance, risk and compliance
GRC system: governance, risks and controls
Risk management as part of corporate governance
Governance failures
Risk based decision making
Risk management and corporate control environment
Risk management’s influence on designing internal controls
Risk-based internal audit assessment of risk management performance
ERM and its evolution
ERM evolution
ERM benefits
ERM platform
Strategic approach
Operations and tactics
Business reporting
Compliance and process
Risk categories
Strategic risks
Reporting risks
Financial risks
Physical: life and safety risks
Compliance
Laws and regulations
Financial reporting standards
Operations
External environment: socioeconomic, regulations, technology and competition
Internal environment: structure, processes and culture
ERM components
Internal environment
Objectives setting
Event identification
Risk assessment
The black swan challenge
Quantitative versus qualitative analysis
Risk response
Control activities
Information and communication
Risk monitoring
Introduction
Risk perception
Why should we care about risk
Internal environment changes
External environment changes
Risk management and corporate governance
Introduction to corporate governance
GRC concept: governance, risk and compliance
GRC system: governance, risks and controls
Risk management as part of corporate governance
Governance failures
Risk based decision making
Risk management and corporate control environment
Risk management’s influence on designing internal controls
Risk-based internal audit assessment of risk management performance
ERM and its evolution
ERM evolution
ERM benefits
ERM platform
Strategic approach
Operations and tactics
Business reporting
Compliance and process
Risk categories
Strategic risks
Reporting risks
Financial risks
Physical: life and safety risks
Compliance
Laws and regulations
Financial reporting standards
Operations
External environment: socioeconomic, regulations, technology and competition
Internal environment: structure, processes and culture
ERM components
Internal environment
Objectives setting
Event identification
Risk assessment
The black swan challenge
Quantitative versus qualitative analysis
Risk response
Control activities
Information and communication
Risk monitoring