Enterprise Risk Management

Introduction:

Some of the countries are faced with almost complete economic and social demise, and the main question is how do you steer a course through these difficult waters?

Thankfully many organizations have realized that an Enterprise Risk Management (ERM) approach was needed and started implementing it. This has ensured that risks that were previously managed in isolation can be aggregated and prioritized across the entire business, across countries, regions, even continents.

However, stopping here is not an option, as we must reach the full potential of the risk management to be able to avoid any new disasters.

Advanced ERM goes one step further in every way possible. Risks are evaluated based on new understanding of the risks, and efficient controls can be implemented to tackle what really matters to the enterprise. In short, the focus becomes strategic value creation and retention instead of risk avoidance.

This training will present the delegates with the latest developments in Enterprise Risk Management, optimal ERM architecture and available solutions, as well as with an adequate approach if the entity wishes to develop its own ERM solution.

Course Objectives:

By the end of the course, participants will be able to:

• Implement or improve Enterprise Risk Management (ERM) strategy in conjunction with new risks
• Recognise adequate Enterprise Risk Management (ERM) architecture for your company
• Implement ERM while complying with procedures and standards
• Learn lessons from Global risk events and the ways they were successfully mitigated
• Determine a clear risk attitude and appetite process
• Identify the key emerging risks for the entity or business process
• Link risk clearly with decision making process
• Use Enterprise Risk Management (ERM) as an asset and optimization tool.
• 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
• Analyse, assess, and improve risk management practices within the organization