Course description
Risk management is an integral part of good management practice and an essential element of good corporate governance.
We live in an uncertain world – all organisations have material risks that must be actively managed in order to survive in an increasingly complex environment. These risks relate to the increasing obligations of organisations to people, the community, their stakeholders and the environment. Risk management involves managing to achieve an appropriate balance between realising opportunities while minimising adverse impacts. It is an iterative process which can enable sound decision making and facilitate continuous improvement in performance.
All executives and managers have a responsibility to properly manage the risks in their organisations and this course will show them, and those working for them, how to identify, evaluate, manage and act on these risks. It will also show them how corporate governance works and what is expected of them in the corporate governance framework.
This course is not only for Risk professionals but for everyone with a managerial responsibility. This comprehensive and interactive 5-day program is certified by Qualifi, a recognised UK awarding body, and covers the inter-related disciplines of Risk Management, Internal Controls and Corporate Governance. It is designed to give executives and managers the tools and confidence to enable their organisation to deliver sustainable results in a controlled environment. The course will be led by an experienced risk management executive who will cover the principles of Risk Management and Corporate Governance and illustrate how these principles can be applied in practice.
Upcoming start dates
Suitability - Who should attend?
- Executives
- Risk professionals
- Company secretaries
- Operational managers
- Finance managers
- Corporate strategists
- Lawyers
- Project managers
- Business owners
- HR managers
- IT managers
- Sales managers
- Account managers
- Auditors
- Regulators
Outcome / Qualification etc.
- Demonstrate that they have the skills required to manage risk exposures and participate in the governance process
- Improve organisational resilience by:
- Increasing awareness to identify and treat main and emerging risks – proactive stance in respect of risk throughout the organisation
- Identifying opportunities and threats, and risks that are not currently managed
- Improving Governance and stakeholder trust
- Assisting management in driving strategy
- Better understanding of the organisation / environment
- Confidently manage risks in their organisation by:
- Knowing what is expected of them in managing risks
- Understanding how to identify and evaluate these risks
- Knowing the types of risk and the challenges they present
- Being able to identify the barriers to effective risk management and understand how these can be overcome
- Having the confidence to report risks accurately and effectively
- Understanding which risks can be accepted and which cannot be tolerated
- Understanding the principles of corporate governance and what it is seeking to achieve, and being able to set up an effective governance structure
- Knowing what governance committees are looking for and how to participate effectively in them
- Gain an accredited Certificate approved by a recognised UK awarding body – the Advanced Certificate in Enterprise Risk Management (ACERM™)
- Use ACERM™ on your business card and on your resume.
Training Course Content
Overview of Risk
- What is it?
- Distinction between risks and issues
- Commercial importance
- Culture
Risk Management
- Identification
- Evaluation
- Management
- Reporting
Types of Risks
- Operational
- Financial
- Legal/Regulatory
- Strategic
- Reputational
- Project/transitional
Identification
- Identification techniques
- Importance of comprehensive approach
- Dynamic not static subject
- Horizon risks
- Crisis management
Evaluation
- Techniques
- Empirical and intuitive
- Probability and impact
- Dangers of false assurance
- True nature and longevity
- Value of simple questions
- Importance of challenging assumptions
Management
- Manageable risks
- Accepted risks
- External risks
- Limitations of rules based approach
- Industry best practice
- Delegating responsibility to line managers
- Legal position
- Light touch, structured or hybrid
- Three lines of defence model
- Committee structure
- Composition of committees – static, dynamic or a mixture
- Ensuring structure operates as intended
- Dealing with difficult members
- Audit (internal and external)
Reporting
- Importance of good reporting
- How to construct good reports
- Understand what needs to be reported
- Effectiveness of mitigation
- Overview of effectiveness
Operational Risk
- Overview and scope
- Understanding of why management must be devolved
- How to help non-Risk managers
Financial Risk
- Understanding the importance and scope
- How to engage with experts
- How to understand reports
- Importance of basic questions and answers
- How to project trends
- Stress testing/reverse stress testing
Overview of Risk
- What is it?
- Distinction between risks and issues
- Commercial importance
- Culture
Risk Management
- Identification
- Evaluation
- Management
- Reporting
Types of Risks
- Operational
- Financial
- Legal/Regulatory
- Strategic
- Reputational
- Project/transitional
Identification
- Identification techniques
- Importance of comprehensive approach
- Dynamic not static subject
- Horizon risks
- Crisis management
Evaluation
- Techniques
- Empirical and intuitive
- Probability and impact
- Dangers of false assurance
- True nature and longevity
- Value of simple questions
- Importance of challenging assumptions
Management
- Manageable risks
- Accepted risks
- External risks
- Limitations of rules based approach
- Industry best practice
- Delegating responsibility to line managers
- Legal position
- Light touch, structured or hybrid
- Three lines of defence model
- Committee structure
- Composition of committees – static, dynamic or a mixture
- Ensuring structure operates as intended
- Dealing with difficult members
- Audit (internal and external)
Reporting
- Importance of good reporting
- How to construct good reports
- Understand what needs to be reported
- Effectiveness of mitigation
- Overview of effectiveness
Operational Risk
- Overview and scope
- Understanding of why management must be devolved
- How to help non-Risk managers
Financial Risk
- Understanding the importance and scope
- How to engage with experts
- How to understand reports
- Importance of basic questions and answers
- How to project trends
- Stress testing/reverse stress testing
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