An Intensive 5-day Training Course
Advanced Enterprise Risk Management
Fully Embedding the ERM Process
Course Introduction
The turmoil in the world is continuing – with increasing public unrest fluctuating energy prices, natural disasters of a scale thought unimaginable, volatile stock markets and world geo-political and economic uncertainty. In this time of global uncertainty how do you steer a course through these difficult waters?
Thankfully many organisations have realised that an Enterprise Risk Management (ERM) approach was needed. This has ensured that risks that were previously managed in isolation, can be aggregated and prioritized across the entire business.
However, this training course on Advanced ERM goes one step further. Risks are evaluated based on business materiality. A new understanding of the risks then emerges, and efficient controls can be implemented to tackle what really matters to the business. In short, the focus becomes strategic value creation instead of risk avoidance.
This Oxford Management Centre training course on Advanced Enterprise Risk Management will provide the opportunity to:
- Take Enterprise Risk Management (ERM) to a strategic level
- Learn lessons from Global risk events
- Determine a clear risk attitude and appetite process
- Identify the key emerging risks
- Link risk clearly wit decision making
Objectives
After completing this Advanced Enterprise Risk Management training course you will be able to:
- Implement appropriate and varied techniques for the identification and assessment of risks
- Generate measurable value by aligning the Enterprise Risk Management (ERM) framework with corporate performance expectations
- Engage the Board in the analysis of enterprise risk scenarios
- Foster a culture that reinforces appropriate risk-taking to balance value creation and value protection
- Clarify Enterprise Risk Management (ERM) accountabilities of all employees from executives to the front line
- Implement Key Risk Indicators (KRI’s) for each line of business
- Enhance achievement of corporate objectives by linking performance targets, and risk management actions
Training Methodology
This is an Oxford Management Centre advanced level training course and delegates should have previous experience in the risk arena. Delegates should have a good educational standard and/or a professional qualification but no advance preparation is required.
The delivery method will be fully participative with case-studies, exercises, syndicate work and role-plays to simulate audit scenarios and situations that assurance professionals will encounter. A short examination will be given at the end of the training course.
Organisational Impact
This training course will benefit organisations in all business sectors. It will provide advanced tools and techniques to refocus the risk process towards business materiality with each risk being evaluated and compared by it’s financial, legal, reputational, and regulatory impact, and classified by the effect they could have on the business.
This Advanced Enterprise Risk Management training course will enable organizational knowledge to be enhanced in the following areas:
- The many and varied approaches for risk identification
- The use of sophisticated techniques such as Delphi, Monte Carlo and Bayesian network analysis
- Key Risk indicators
- How to energize your staff to manage risks
- Enterprise Risk Management (ERM) in projects
Personal Impact
This Advanced Enterprise Risk Management training course will enable delegates to enhance their personal knowledge in the following disciplines:
- Risk register effectiveness
- Driving risk ownership
- Developing decision-making and communicative skills
- Coordinating the ERM process
- Challenging risk evaluations
- Engaging top management in the ERM process
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
Day 1
Taking Enterprise Risk Management (ERM) to the Next Level
- Characteristics of an Advanced Enterprise Risk Management (ERM) Process
- Keeping Your Eye on the Big Prize
- Exploring Global Enterprise Risk Management (ERM) Scenarios
- The Enterprise Risk Management (ERM) Roadmap/Framework
- Review YOUR current ERM Environment. Is it Resilient?
- Conducting a Gap Analysis
- Develop ERM roadmap of Priorities for Implementation
- The role of Executive Management and ERM.
- A UK banking sector approach to ERM
Day 2
Enterprise Risk Management (ERM) Risk Measurement Techniques
- A full Review of all the Risk Measurement Methods including
- Risk Workshops
- Delphi (Expert Analysis) with examples
- Ishikawa (Fishbone) Analysis
- Failure Mode and Root Cause Analysis with examples
- Scenario Planning
- Syndicate Work: Incident Exercise, seeking the Root Cause
Day 3
More Risk Assessment Techniques
- Fault Tree Analysis with examples
- Monte Carlo Simulations
- Bayesian Networks
- A complete list of potential Emergent Risks. Often low probability but high impact
- Crisis Management
- What is and Types of Crisis
- The difference between an Incident, an Emergency and a Crisis
- Key Risk Indicators (KRI’s)
Day 4
Advanced Enterprise Risk Management (ERM) Issues
- The Risk Register Challenges
- Enterprise Risk Management (ERM) Tips for Success
- Risk Appetite and Risk Tolerance
- Enterprise Risk Management (ERM) and Decision-making
- Handout on ISO 31000
- Syndicate work: How good are your Decision-making Skills?
Day 5
Wider Aspects of Enterprise Risk Management (ERM)
- Assurance and Enterprise Risk Management (ERM)
- Including Business Continuity Management (BCM)
- Energising Your Staff to Manage Risk
- The importance of Culture, Communications and Behaviour
- Team forming and development
- Enterprise Risk Management (ERM) in Projects and Joint Ventures
- Goal Setting
- Enterprise Risk Management (ERM) Golden Rules - Communications
- Syndicate work: Listening Skills Test
- Course Review
Certificate
Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.
Accreditation
In association with
