Harnessing the Value of Enterprise Risk Managment

A Roadmap to Understanding Enterprise-Wide Risk Management Principles, Methodologiesand Tools

In a world of risks and constant changes, effective risk management has the potential to increase the reliability of operations, build resilience, and foster innovation/value creation—three keys to achieving sustained performance.

Too often, companies have a static, assets-based approach to the risks that they are facing. When managing risks, they essentially rely on risk-control mechanisms. As a result, risk management programs often deteriorate into narrow compliance and lead many organizations to underperform.

This workshop provides a framework in developing a dynamic vision of risk management called Enterprise Risk Management (ERM).

Firms need to devote increasingly more time, attention and resources to craft strategies related to risk management and value preservation. Learn how you can deploy a risk management system that makes a real difference in how well your organization could deliver on its performance potential and how to realize the promise of ERM.

Workshop Content

1 - What is the Big Deal About Risk Management?

• The Rise of Risk Management in the modern world.
• What is a risk? Risk Management?
• How is Corporate Governance, Reputation related to Risk Management?
• Trends on current ERM developments in both public and private sector.
• The Costs and Benefits of Risk Management
• How th e business case for ERM can be made internally?

2 - Holistic & Strategic Perspectives on Risk Management

• The philosophy of risk
• Notion of risk and uncertainty
• Historical perspectives of risk management
• Risk concepts ( Exposures, perils and hazards , loss frequency and severity)
• How to define the Major categories of risks: Risk types and classifications
• Risk Management Systems, Policies and Reports
• Holistic risk management: Integrated Risk Management & Enterprise Risk Management
• Holistic risk management vs. the "silo" approach
• The purpose of risk management: Protect assets or create value
• The Risks of Risk Management

3 - The Risk Management Process

• Overview of the Risk Management Process
• Step 1: Identify risks
• Step 2: Analyze risks
• Step 3: Examine the feasibility of RM techniques
• Step 4: Select the appropriate RM techniques
• Step 5: Implement the Selected RM techniques
• Step 6: Monitor results & audit the process

4 - Implementing Risk Management in your organization 

• The scope of Risk Management
• Who should be in charge & the emergence of the Chief Risk Officer (CRO)
• Challenges organizations face in integrating ERM into their processes.
• How ERM is currently being implemented by organization and why?
• What strategies can be selected for successful implementation?
• Creating a risk aware culture. Risk and Crisis Management.
• How to leverage on your ERM program.