Design an ERM System adapted to Your Organization’s Needs & Maturity to Foster Effective Management of Risks

Survey Result: According to a recent KPMG Survey, “51% of Companies surveyed had implemented an ERM program and an additional 27% were planning to do so with the next 3 years. However most organizations where ERM had been implemented reported tremendous challenges to make ERM work for them.“

Synopsis

While most organizations recognize the need for better risk management systems and practices, when embarking on the ERM Journey, they are rightfully concerned with the scope and purpose of an initiative as expansive and comprehensive as a full Enterprise Risk Management program development and implementation and are challenged by the apparent ambiguity of its business case. They will struggle to define what ERM actually is and how they can implement it in a way that can benefit their specific circumstances.

This workshop provide a comprehensive Framework to design an ERM System & Policies adapted to Your Organization’s business needs and Maturity allowing you to address business issues, stakeholders concerns and new regulatory requirements in a world confronted with unprecedented level of uncertainty in an efficient and integrated manner. ERM can yield tremendous potential competitive advantage for an organization through an integrated, enterprise-wide perspective on its risk profile aligned with its business model.

Learning Objectives: How you will benefit

• Learn about COSO and ISO 31000, and other 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
• What are the key drivers for adopting ERM and how it is currently being applied by organizations
• Identify the keys challenges organizations face in Designing and integrating ERM into their system and processes
• Find out how to customize ERM to align effectively with the Business Model of your organization
• How to connect ERM and the Performance Management system of your organization

Workshop Outline: What you will cover

• Enterprsie wide Risk management – A Compliance requirement or a Business Imperative
• Risk Management Failures - ERM: A Rules or a Values based approach
• ERM and Regulations – The spirit or the letter of the Law
• Risk Management Frameworks – One size fits all or customization
• Risk Management Governance – Culture and systems
• Risk Management Organization and Processes – Who is doing what and How?
• ERM – Connecting Risk & Opportunity, A Strategic Value Creating Undertaking

Toolbox: A Case Study

A hypothetical listed company will be used as a case study to work through the issues of developing a modern Risk Management Governance Framework and Organisation, in particular, developing:

• Board and SMT Commitment to Risk Management
• Risk Management Framework and Policy
• Risk Appetite and Tolerances
• Risk Treatment strategies and implementation issues
• Risk Reporting - Key Risk Indicators

Testimonials

“This workshop gave the roadmap that allowed me to be the driver’s seat and customize ERM to the real practical needs of my organization”. Director, Risk management, Mining Company