Managing Uncertainty & Creating Value for Your Organisation with Enterprise-wide Risk Management

Synopsis

Recent crises in the global financial system have once again highlighted the importance of good risk management and firms that are perceived to manage risk proactively have fared much better than their competitors. Not only corporate and industry regulators are demanding that listed companies raise their game in regards to the management of the risks they face, rating agencies have also included the quality of a firm's risk management system & 'culture' into their corporate ratings methodologies. Beyond mere compliance to regulatory, effective risk management has become an imperative for boards and management because it has the potential to increase the reliability of operations, build resilience, and foster innovation/value creation—three keys to achieving sustainable profitable performance.

This foundational workshop provides a framework in developing a dynamic approach to the management of risks called Enterprise-wide Risk Management (ERM). And provide a roadmap to Understand the reasons for the Emergence, the current Scope & Purpose of Enterprise-Wide Risk Management Principles, Methodologies and Tools. It includes a variety of risk management models in use around the world and how to implement them in a way that can help improve the performance of your organization.

Learning Objectives / Key Benefits

After attending this session, you should be able to:

• Understand risk in all its dimensions in life and in business including in relation to Threaths and Opportunities
• Recognize and understand what are the real reasons for today’s development of Risk Management systems and why your Organization needs ERM
• Understand the different approaches to the management of Risk: And what is holistic risk management, Integrated Risk Management & Enterprise Risk Management
• Identify and learn how to deal the keys challenges organizations face in integrating ERM into their system and processes
• Learn about COSO, ISO 31000 and orther popular methodologies and frameworks applicable to the management of risk in organizations
• Learn why there has been such a strong development of regulatory frameworks applicable to the management of risk in organizations
• Understand how to improve corporate planning & decision-making processes throught the application of Risk tools under the ERM Framework

 

Workshop Outline

• Introduction to concepts and principles of Risk & Risk Management & ERM
• Understanding the reasons for the emergence of ERM
• The ERM objectives: Corporate protection, resilience or performance
• How is ERM related to Corporate Governance and Compliance: The GRC Framwork
• Organizational context, culture, roles and responsibilities for ERM
• Overview of industry standards and legal frameworks for risk management
• A steps by step overview of the risk management decision-making process
• ERM Objectives and maturity to consider when implementing ERM

 

Tool Box: A Case Study

• Risk Maturity Questionaire
• Example of Risk Management Framework and Policy
• ERM standard guides

Testimonials

“This workshop helped me understand the real value of ERM and provided me with the business case necessary to convince my management to really support our ERM implementation project”. Risk Manager, Hospitality group