Description
TOPIC: ENTERPRISE RISK MANAGEMENT
Program Overview:
The turmoil in the world is continuing – with increasing public unrest, fluctuating oil prices, natural disasters of a scale thought unimaginable, volatile stock markets, conflicts, a pandemic and climate change
In this time of global uncertainty how do you steer a course through these difficult times as a financial institution or a service-oriented organization?
Many organizations have realized that an Enterprise Risk Management (ERM) approach designed around the organizations business portfolio, strategies and plans are needed to predict, evaluate, manage and measure its performances.
This has ensured that risks that were previously managed in isolation can be aggregated and prioritized across the entire business as a single dashboard that aligns to the business goals and strategies.
In this session, we are no longer just focusing on the ERM framework and its program implementation but more on the effectiveness and its alignment to the organizations Vision, Mission, Values and Objectives and key results.
It 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 management & avoidance.
Duration:
1 day (8 hours)
Learning Objectives of the Program:
- 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
- Implement and enhance corporate objectives thru Key Risk Indicators (KRI’s)
Who should attend?
Chief Financial Officers, Compliance Directors, Chief Risk Officers, Board of Directors, CEO’s, COO’s, Chief Audit Officers, Risk Management Officers & anyone interested in ERM
Program Structure and Outline
DAY 1
8:30am – 12:00pm
Taking Enterprise Risk Management (ERM) to the Next Level
- Characteristics of an Advanced Enterprise Risk Management (ERM) Process
- Board-level commitment to ERM
- An ERM culture driving engagement and accountability inside the organization.
- Engagement of stakeholder’s strategy development and policy setting
- Transparency of risk communication and decision making to all levels
- A move from focusing on risk avoidance and mitigation to exploitation
techniques.
Keeping Your Eye on the Ball
- Painting the Big Picture of your organization’s enterprise risks
- Identifying principal risk factors (sample case study)
- Focusing on risk events that impair the enterprise objectives.
Exploring Enterprise Risk Management (ERM) Scenarios
- Understanding organizations Risk Attitude
- Defining risk from need to get things right – not what can go wrong.
- ‘Ring fencing’, guarding the failure of one part of business from impacting other
parts.
- Communicating your Risk Attitude to all levels in the organization & 3rd party
1:30pm – 05:00 pm
The Enterprise Risk Management (ERM) Roadmap
- How to review & assess the current ERM Environment
- Develop ERM roadmap for companywide implementation.
Enterprise Risk Management (ERM) Risk Measurement Techniques
- Risk Measurement Methods
- Understanding quantitative / qualitative risk analysis thru the use of root cause
analysis tools
- The pros and cons of the various methods
Key Risk Indicators (KRI’s)
- How to see pitfalls / banana skins ahead
- How to develop effective KRI’s
Risk Appetite and Risk Tolerance
- The difference between risk appetite and risk tolerance
- Defining risk limits
- Risk profiling
- Developing risk appetite statements
Wider Aspects of an ERM
- Ensuring your assurance providers roles e.g. Internal Audit, Compliance, Risk Management, Insurance, Security alignment to avoid duplication of effort
- How to incorporate internal audit agreed actions in your risk register?
- Ensure environmental risk is taken seriously thru ESG (even if you are in a sector
such as Financial Services)
- Ensuring Business Continuity plan covers all eventualities thru testing
Resource Speaker:
Mr. Kama Neson Ganeson
CORS, CCP, CSAP, PMP, PMI-RM, CLA ISMS & BCMS, ERMP
Schedule:
June 11, 2024 (Tuesday)
9:00 AM – 5:00 PM
Training Fee per Participant:
Member Institution – P 2,800.00
Non-Member Institution – P 3,920.00
**VAT inclusive