Enterprise Risk Management - an Integrated Approach to Managing Risks

This interactive workshop course is apt for participants already engaged in or in the process of exploring the institution of Enterprise Risk Management (ERM) in their organization. It helps them to keep abreast of developments in this integrated approach to risk management for the business enterprise in the face of business complexities, changing technologies and growing regulatory, governance and compliance issues. It engages the participants in examining the challenges and issues of risk management and drives forth the case that managing risks holistically and with an enterprise-wide perspective

Overview

While there is no universal definition of what ERM is, a commonly goggled source states its inclusion of "methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives" (Wikipedia)Though ERM has been around since the later part of the last century, risk management continues to be practiced very much on a silo basis. The consequences have been clear - as seen by the various enterprise catastrophes which dotted the financial and nonfinancial spheres.Upon completion of course, participants will be able to:

• appreciate that risks faced by an enterprise come in various forms spanning financial, operational,strategic, reputation and regulatory spaces and the importance of successfully identifying,assessing, anticipating and mitigating its critical risks and uncertainties
• implement successful strategies for enhancing the ERM function within the organization bybench-marking with prevailing market practices
• explore the evolution of the ERM discipline over the last two decades and how its relevance hasheightened given changing business and regulatory/governance dynamics
• examine and gain insights from other organizations’ experiences in their ERM processes so tobroaden knowledge and competently address questions of how to implement an effectiveenterprise-wide risk oversight in one's own organization
• value-create for the enterprise with an integrated enterprise-wide approach to strategic businessplanning and risk oversight processes

Who should attend

All individuals who play a role in leading and implementing ERM efforts within an enterprise. These include

• those serving on the board of directors
• senior executive roles such as CEOs, CFOs, controllers, chief audit executives
• other corporate executives leading and implementing the ERM machinery in the organization
• technological and other corporate personnel supporting the ERM function
• Risk management professionals

Methodology

Non-theoretical methodology which includes interactive discussions, case studies, interactive games and assignments to understand the concepts and their applicability.

Trainer

All our trainers are carefully chosen by us and possess a rich and vast experience in the financial sector. This course will be conducted by a renowned consultant having more than 35 years of experience in financial markets and training. Until recently, he served for many years as the Regional Director Singapore chapter and Global Board of the Professional Risk Managers International Association.

Course Content

Module – 1

Living with Risks and Embracing ERM

• Why risk management is everybody'sbusiness in the enterprise
• The Intent of Risk Management - lossavoidance, value creation, valueenhancement or....
• From a Galaxy... to Relevant Risks andtheir inter-connectivities
• Anticipating the Unknowns - Mappingthe shapes of risks to come

Module – 2

The Evolving Story of ERM

• COSO 2004, 2013 and 2017 - what theyentail
• ISO 2009 and 2017 - what they entail
• Basel, - what they have to say about ERMs

Module – 3

The Nuts and Bolts of ERM

• The Language and Framework of ERM
• Who's who in ERM? - the parties and theirroles
• The Must-Haves and the Mustn't-Haves ofERM

Module – 4

Makings of a Workable ERM framework

• The importance of workable processesand a Proper Risk Culture
• The need to integrate ERM with strategicplanning
• Taking an informed view of risksconfronting the enterprise
• The challenges and pitfalls in ERMImplementation
• The Hard and Soft aspects of a RiskManagement framework
• Facts, Figures and a lot of Common(Business) Sense

Module – 5

ERM in practice

• Assessing and prioritizing risks
• Extending Risk considerations from typesto other risk characteristics includingspeed of onset and momentum of risks aswell as their likelihood and impact
• The importance of Risk Responses on anOngoing basis
• Risk reporting, Key Risk Indicators andRisk Triggers

Module – 6

ERM - before, during and after the Global Financial Crisis

• Lessons from Mishaps - including Enron,MF Global, General Motors, LehmanBrothers..
• Whereto from here - stages of maturity ofERM in an enterprise

If you need further information, please visit www.riverstonetraining.com.sg or send mail at info@riverstonetraining.com.sg

Riverstone – Corporate Training https://www.riverstonetraining.com.sg