Course Overview
This program explores the weaknesses in risk management and focuses on the frameworks, strategies, process and governance of ERM. The program provides an introduction to the main concepts of ERM, the relevant Basel Standards and comprehensive, leading-edge ERM theories and practices.
Course Objectives
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participants will be imparted with knowledge to appreciate enterprise risk management (ERM)
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they will explore the weaknesses in risk management and focus on the frameworks, strategies, process and governance of ERM
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participants will be exposed to the enterprise approach to managing risk and typology of risk management failure
Duration – 3 Days
Curriculum
Overview of Risk ManagementDefinition, Objectives & Benefits of ERM, Risk vs Uncertainty - The Black Swan Effect
Design & Documentation of an ERM FrameworkFramework Elements, COSO vs ISO31000
Risk GovernanceUnderstanding the Role of the Board and Executive Management
Understanding ERM ConceptsEstablishing a Risk Universe, Risk Appetite vs Risk Tolerance, Role of Risk Culture in ERM
Establishing a Risk Appetite FrameworkAligning Risk Appetite to Firm Strategy, Risk Appetite Statements, Quantitative vs Qualitative
The ERM Maturity Model
The Risk Management ProcessDocumenting the Risk Universe & Register, Risk Identification Techniques
Risk Assessment Approaches - Qualitative vs QuantitativePreparing the Probability & Impact Grids, Documenting the Risk Matrix, EaR/VaR as Quantitative Risk Measures, Residual Risk Ranking
Assigning Responses to Identified RisksDetermining Effectiveness of Responses, Transiting from Inherent to Residual Risk, Documenting an Action Plan for residual Risks
Role of Internal Control in Risk Management
Implementing an ERM System
