Course description
Course Overview – Why you should attend
This comprehensive, practical and interactive 5-day certified course covers the linked disciplines of Enterprise Risk Management (ERM) and Corporate Governance and is designed to give Executives and Managers the pathway, tools and confidence to enable their organisations to implement ERM and to control costs in a controlled environment.
All Executives and Managers have a responsibility to properly manage the risks in their organisation and this course will show them how to identify, evaluate, analyse, manage and report on these risks. It will also demonstrate how corporate governance works and what is expected of them in the corporate governance process.
The ACERM™ course is not only for Risk Professionals but for everyone with an Executive or Managerial responsibility and strategic insight. This course includes several case studies, activities, tools and templates to enable you to practically implement the ERM principles into practice.
The course is led by an experienced Risk Executive who will cover the principles of ERM and Corporate Governance and show how these principles can be applied in practice.
Delegates who attend this ACERM™ course will be able to demonstrate that they have the skills required to implement ERM, manage risks and effectively participate in the Corporate Governance process. They will also have gained skills to be able to:
- Better understand the overall risk landscape impacting their organisation.
- Know what is expected of them in managing the risks that they are responsible for.
- Demonstrate the skills and knowledge to implement an effective ERM framework.
- Understand how to identify, evaluate and monitor risks.
- Identify the different types of risk and the challenges that they present.
- Identify the barriers to effective risk management and understand how these can be overcome.
- Show confidence in reporting risks accurately and effectively.
- Understand which risks can be accepted and which cannot.
- Understand the principles of corporate governance and what it is seeking to achieve.
- Participate effectively in governance committees and understand what they are looking for.
Suitability - Who should attend?
Who should attend this ACERM™ course?
- All Executives
- Risk professionals
- Executives, Directors and Managers responsible for risk management
- Company secretaries
- Operational managers
- Finance managers
- Corporate strategists
- Lawyers
- Insurance professionals
- Project managers
- Business owners
- HR managers
- IT managers
- Sales managers
- Account managers
- Senior Internal and External Auditors
- Regulators.
Outcome / Qualification etc.
The course includes a final “Open book” assessment which delegates must pass to receive the Advanced Certificate in Enterprise Risk Management: ACERM™ which is certified by Qualifi, a recognised UK awarding body.
Training Course Content
Day 1
Setting the scene and exploring what Enterprise Risk Management (ERM) is all about.
- A Glance into the Future
- Global forecast of impactful events and risks for 2020
- Corporate Governance, Risk Management and the Financial Crisis
- Lessons from the Past – notable Risk Management Failures
- Case Study: Barings Bank
- Common causes for Risk Management Failures
- Fundamentals of Risk
- What is Enterprise Risk Management?
- ISO 31000:2018 - Risk Management Guidelines
- COSO: Enterprise Risk Management - Integrating with Strategy and Performance
- Key Definitions and Terminologies
- ERM Principles - how Risk management can contribute to the overall improvement of an organisation
- Activity: Risk management principles - organisational assessment
- Why manage risks? Benefits of Risk Management
- Activity: What are the benefits of good Risk Management to your organisation?
- Strategies for success
- Aligning ERM to Strategy
- Business case for ERM – Drivers of Shareholder Value.
Day 2
Exploring the foundation for good ERM implementation and practical approach to creating a robust ERM Framework.
- Key challenges for Executives and Managers
- Key attributes for Executives and Managers
- Risk Culture
- Barriers to effective risk management
- Activity: What factors influence risk in your organisation?
- How can you evaluate the factors that influence risk in your organisation?
- Governance of risk: Three lines of defence
- Risk Appetite
- Risk Management Framework, including:
- Management Leadership and Commitment
- Case Study: A Bank Financial Planning Scandal
- Activity: Leadership and Commitment
- Integrating Risk Management
- Designing the Framework
- Implementation of the Framework
- Evaluating the effectiveness of the Framework
- Continuous improvement of the Framework
- COSO Framework – Integrating with Strategy and Performance
- Critical issues which may impact Risk Management Framework
- Risk Management framework checklist
- Activity: Implementing a Risk Management Framework checklist for your organisation.
Day 3
Implementing a pragmatic Risk Management Process, including practical tools for Risk Treatment, Analysis and Monitoring.
- Risk Management Process, including:
- Communication and Consultation with stakeholders
- Stakeholder management
- Stakeholder analysis using Mendelow's Power-Interest grid
- Activity: Strategies for stakeholder communication and consultation
- Establishing the Scope, Context and Criteria to effectively customise the Risk Management process
- External context
- Internal context
- SWOT Analysis
- Activity: SWOT identification
- Activity: SWOT analysis
- Risk Assessment including:
- Risk Assessment Road Map
- Risk Identification
- Establishing a Risk Landscape
- Components of risk
- Risk identification techniques
- Case Study: Airlines
- Activity: Doomsday clock
- Risk Analysis
- Qualitative Analysis
- Quantitative Analysis
- Semi-quantitative analysis
- Activity: Risk Analysis - Create a likelihood scale, a consequence scale and map the two scales onto a risk matrix
- Risk Evaluation
- The ALARP principle
- Activity: Create a Heat Map
- Control effectiveness criteria
- Risk Treatment Options
- Risk Treatment Decision making issues
- Risk treatment plans
- Sample Risk Treatment plan
- Activity: Risk treatment
- Implementing Risk Management
- Communicating the risk management processes
- Risk Monitoring and Review
- Monitoring activities
- Hierarchy of Assurance activities
- Auditing
- Risk monitoring checklist
- Activity: Implementing a Risk monitoring checklist for your organisation
- Recording and Reporting of the Risk Management process
- Using PESTLE Analysis in Risk Management
- Risk Reporting.
Day 4
Creating a Risk Register and related templates, exploring the relationship between Risk Management and Corporate Governance, understanding different types of risks and Risk recovery techniques.
- Sample Risk Register
- Activity: Create a Risk Register
- Risk related templates:
- Risk Likelihood
- Risk Categories
- Risk Consequence Ratings
- Control Effectiveness
- Risk Rating Matrix
- Duty of Care/ Due Diligence in effective risk management
- Duty of care framework
- Types of Risk
- Operational Risk
- Reputational Risk
- Strategic Risk
- Financial Risk
- Legal Risk
- Regulatory Risk
- Risk Recovery
- Contingency planning
- Design and implement recovery plan
- Recovery analysis
- Activity: Identify critical risk areas and create a contingency plan
- Risk Management and Corporate Governance - OECD Principles
- Board’s role in risk oversight
- Board Committee responsibilities
- Case Study:
Day 5
- Recap and revisit
- “Open book” assessment
The course includes a final ‘open book’ assessment which delegates must pass in order to receive the Advanced Certificate in Enterprise Risk Management ACERM™.
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