Course Introduction

‘In a fast-changing world the only strategy that is guaranteed to fail is not taking risks’ - Mark Zuckerberg

Successful organisations are the ones that consider risks and potential problems at all stages of the economic cycle. A co-ordinated Enterprise Risk Management (ERM) programme has been proven to be the key to such success.

This exciting Oxford Management Centre training Course will help you to fully embed a risk culture across the whole organization, and develop a coordinated top down approach where every function evaluates its risks on a continuous and consistent basis.

It will help you change the focus from risk avoidance to one of value creation and create a fully risk embracing culture.

Objectives

Specifically you will learn to:

• Sell the benefits of ERM to senior management
• Benchmark your ERM process against worldwide best practice
• Link the ERM process directly with the strategic plans
• Challenge and overcome the negative views of risk
• Instil a risk culture of ‘what do we need to get right’ rather than ‘ what can go wrong’
• Develop clear risk appetite statements for the Board and each business function
• Appreciate why ERM is not just another project or fad

Who Should Attend?

• Chief Risk Officers
• Risk Managers
• Managers and Directors responsible for the risk management function or process
• Heads of Internal Audit
• Heads of Assurance functions
• Senior Finance Professionals

Course Outline

• Gain a thorough Understanding of the Characteristics of an Advanced ERM Process
• Understand the Techniques to take fully embed your ERM process by the use of Global Risk scenarios
• Develop an ERM Strategic Roadmap
• Learn how to use sophisticated Risk Evaluation Techniques such as Delphi Monte Carlo and Bayesian Network
• Understand how to Identify and Manage Emerging Risks
• Develop meaningful Key Risk Indicators (KRI’s)
• Re-focus the Risk Register to be a simple to follow Record of the Risks (Using a Global Best Practice Model)
• Incorporate inherent, residual and target Risk Assessments for each Risk
• Explicitly Link Risk with Decision Making at all Levels of the Business
• Energise all Levels of Management and Staff to Manage Risks Effectively