This interactive workshop course is apt for participants already engaged in or in the process of exploring the institution of Enterprise Risk Management (ERM) in their organization. It helps them to keep abreast of developments in this integrated approach to risk management for the business enterprise in the face of business complexities, changing technologies and growing regulatory, governance and compliance issues. It engages the participants in examining the challenges and issues of risk management and drives forth the case that managing risks holistically and with an enterprise-wide perspective
Overview
Though ERM has been around since the later part of the last century, risk management continues to be practiced very much on a silo basis. The consequences have been clear – as seen by the various enterprise catastrophes which dotted the financial and nonfinancial spheres.
Upon completion of course, participants will be able to:
- appreciate that risks faced by an enterprise come in various forms spanning financial, operational, strategic, reputation and regulatory spaces and the importance of successfully identifying, assessing, anticipating and mitigating its critical risks and uncertainties
- implement successful strategies for enhancing the ERM function within the organization by bench-marking with prevailing market practices
- explore the evolution of the ERM discipline over the last two decades and how its relevance has heightened given changing business and regulatory/governance dynamics
- examine and gain insights from other organizations’ experiences in their ERM processes so to broaden knowledge and competently address questions of how to implement an effective enterprise-wide risk oversight in one’s own organization
- value-create for the enterprise with an integrated enterprise-wide approach to strategic business planning and risk oversight processes
Who should attend
All individuals who play a role in leading and implementing ERM efforts within an enterprise. These include
- those serving on the board of directors
- senior executive roles such as CEOs, CFOs, controllers, chief audit executives
- other corporate executives leading and implementing the ERM machinery in the organization
- technological and other corporate personnel supporting the ERM function
- Risk management professionals
Methodology
Non-theoretical methodology which includes interactive discussions, case studies, interactive games and assignments to understand the concepts and their applicability.
Trainer
All our trainers are carefully chosen by us and possess a rich and vast experience in the financial sector. This course will be conducted by a renowned consultant having more than 35 years of experience in financial markets and training. Until recently, he served for many years as the Regional Director Singapore chapter and Global Board of the Professional Risk Managers International Association.
Why risk management is everybody’s business in the enterprise
The Intent of Risk Management – loss avoidance, value creation, value enhancement or….
From a Galaxy… to Relevant Risks and their inter-connectivities
Anticipating the Unknowns – Mapping the shapes of risks to come
COSO 2004, 2013 and 2017 – what they entail
ISO 2009 and 2017 – what they entail
Basel, – what they have to say about ERMs
The Language and Framework of ERM
Who’s who in ERM? – the parties and their roles
The Must-Haves and the Mustn’t-Haves of ERM
The importance of workable processes and a Proper Risk Culture
The need to integrate ERM with strategic planning
Taking an informed view of risks confronting the enterprise
The challenges and pitfalls in ERM Implementation
The Hard and Soft aspects of a Risk Management framework
Facts, Figures and a lot of Common (Business) Sense
• Assessing and prioritizing risks
• Extending Risk considerations from types to other risk characteristics including speed of onset and momentum of risks as well as their likelihood and impact
• The importance of Risk Responses on an Ongoing basis
• Risk reporting, Key Risk Indicators and Risk Triggers
Lessons from Mishaps – including Enron, MF Global, General Motors, Lehman Brothers..
Whereto from here – stages of maturity of ERM in an enterprise