Enterprise Risk Management

Enterprise Risk Management

Methodology

This course relies on clarification and interpretation, in addition to the presentations provided by the consultant and participants. It also includes numerous case studies in various industries and fields of work.

Course Objectives

By the end of the course, participants will be able to:

• Explain the fundamentals of enterprise risk management.
• Identify the risks faced by people, processes, systems, and their impact on operational procedures and the financial position of the company.
• Assess the situation and anticipate problems before they become threats.
• Evaluate and improve the risk-based decision-making process.
• Link risks to potential costs and the business planning process.
• Identify a set of techniques that can be used to support management in making appropriate decisions.

Targeted Audience

Managers, senior executives, financial controllers, auditors, and executive directors.

Training Program Content

• Introduction
• Risk awareness
• Why we care about risks
• Internal environmental changes
• External environmental changes
• Risk management and governance
• Introduction to the world of governance
• Concept: Risk governance and compliance
• System: Risk governance and controls
• Risk management as part of enterprise governance
• Governance failures
• Making risk-based decisions
• Risk management and corporate control environment
• Impact of risk management on control design
• Assessing internal audit’s performance of risk management
• Evolution of risk management
• Benefits of risk management
• Risk management framework
• Strategic
• Operational
• Reporting
• Compliance
• Risk categories
• Strategic risks
• Reporting-related risks
• Financial risks
• Physical risks: Life and work safety
• Compliance and adherence to:
  • Laws and regulations
  • Financial reporting standards
• Operations
• External environment: Social, economic, systems, technology, and competition factors
• Internal environment: Structure, processes, and culture
• Components of enterprise risk management
• Internal environment
• Goal setting
• Event identification (risks)
• Risk assessment
• Black swan challenge
• Quantitative or qualitative assessment
• Risk response
• Risk control activities
• Information and communication
• Risk monitoring