Enterprise Risk Management

Course Outlines:

Module One:

Introduction

• Risk perception
• Why should we care about risk?
• Internal environment changes
• External environment changes

Module Two:
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

Module Three:

Risk management and corporate control environment

• Risk management’s influence on designing internal controls
• Risk-based internal audit assessment of risk management performance

Module Four:

ERM and its evolution

• ERM evolution
• ERM benefits
• ERM platform
  • Strategic approach
  • Operations and tactics
  • Business reporting
  • Compliance and process

Module Five:

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

Module Six:
ERM components

• Internal environment
• Objectives setting
• Event identification
• Risk assessment
  • The black swan challenges
  • Quantitative versus qualitative analysis
• Risk response
• Control activities
• Information and communication
• Risk monitoring