Description
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 Key Risk Indicators (KRI’s) for each line of business
• Enhance achievement of corporate objectives by linking performance targets, and risk management actions
Program Structure and Outline
Day 1
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 to all levels
• Integrating financial and operational risk into decision making
• A move from focusing on risk avoidance and mitigation to exploitation techniques.
• Exercise: Risk avoidance techniques – pros and cons? 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
• Exercise: How to establish a Risk Attitude
Day 2
The Enterprise Risk Management (ERM) Roadmap
• How to review & assess the current ERM Environment
• Develop ERM roadmap for companywide implementation.
• Exercise: Review of an assessment method Enterprise Risk Management (ERM) Risk Measurement Techniques
• Risk Measurement Methods
• Understanding quantitative / qualitative risk analysis
• Ishikawa diagrams (fishbone analysis)
• Failure mode and effect analysis (FMEA)
• Scenario planning
• Root cause analysis
• Monte Carlo analysis
• The pros and cons of the various methods
Key Risk Indicators (KRI’s)
• How to see pitfalls / banana skins ahead
• Examples of KRI’s • How to develop effective KRI’s
• Exercise: Review existing KRI’s to best practices Risk Appetite and Risk Tolerance
• What is risk appetite?
• The difference between risk appetite and risk tolerance
• Defining risk limits
• Risk profiling
• Developing risk appetite statements
• Exercise: Creating Risk appetite statements Wider Aspects of Enterprise Risk Management (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
Schedule:
September 14-15, 2023
(Thursday-Friday, 8:30 AM – 5:00 PM)
Training Fee per Participant:
Member Institution – P 5,600.00
Non-Member Institution – P 7,840.00
**VAT inclusive