Learning Outcomes

After completing the course, you will be able to:

• The emergence and definitions of risk, risk management and risk appetite (positive and negative risks);
• The links to corporate governance, performance outcomes and reward culture;
• Activities involved in identifying, assessing, evaluating, treating and monitoring risk events;
• The development of risk registers and their integration with resource and action planning;
• The barriers to embedding effective risk management culture within an organisation;
• Critical success factors that the board members should for look out for.

Target Audience

• Executive and Non – Executive Directors, Board Members
• Senior Management Teams

Course Contents                                                                                                       Session 1: Introduction to Enterprise Risk Management

• Emergence of risk management and review of recent corporate failures
• Risk governance – three lines of defence (internal control system)
• What is risk, risk management, and enterprise risk management (ERM)?
• Solvency, capital and performance outcomes

Case Study & Group Exercise 1: Bow-ties

Session 2: The risk management process and current trends

• Practical steps to profiling (assessing) risk
• Application of risk management tools and techniques
• Risk treatment/control: design, performance, affirmation, and effectiveness
• Risk monitoring and review

Session 3: Risk management skills in making business decisions

• Risk appetite: definition, importance, and uses
• Risk registers and their integration into management processes
• Benefits of managing risks on time and the role of people (human factor)

Role play and Storytelling

Session 4:  Embedding risk management culture – the role of the Board & Management

• Effective risk reporting (internal and external reporting)
• Risk engagement and communication techniques
• Unlocking barriers to embedding effective risk management culture

Questions and feedback