Corporate Risk Management
Face-to-face duration: 2 days
Corporate Risk Management is a two (2) day course which provides participants with the fundamentals tools and techniques as well as a practical application and approach for corporate risk planning, identifying and analysing corporate risk issues, developing corporate risk handling strategies, and monitoring progress in implementing risk handling strategies.
This course provides a systematic process, detailing methods and processes used by organisations to manage risks and seize opportunities related to the achievement of their objectives.
- Planning for corporate risks
- Identify threats and opportunities and weigh their relative value in the corporate organisation
- Control multiple risks using limited strategies
- Planning response to risks
- Risk assessment and response development
- Make risk and opportunity integral components of your next corporate plan.
- A practical, seven-step process to manage corporate risks.
- The use of risk registers.
- The use of decisions trees.
- Analyse rank and prioritise risks.
- Overcome psychological barriers to risk in stakeholders (internal and external).
- A thorough understanding of corporate risks, managing corporate risks and systems used to manage and treat these risks.
- Development of a risk management culture in the organisation.
- Embedding risk management within organisational culture to maximise the strategic outcomes for the organisation from enterprise risk management.
- Influencing organisational culture and providing strategic direction in risk management.
- Overview of corporate risk management process.
- Risk management frameworks including ISO, GRC.
- Corporate risk management process lessons learnt.
- Corporate risk planning, identification and analysis.
- The decision tree.
- Risk handling and monitoring.
- This course is ideal for Corporate Managers, Auditors, Actuaries, Financial Analysts, Regulators, General Managers, Finance Managers, Account Managers and Risk Managers.
- Group discussion
- Case studies
- Individual and group activities
- Experiential and practical
- Short lecture sessions
- Templates and checklists
This two (2) day course has been designed by our senior trainers who combine industry experience with academic excellence.
Our program design and delivery is based on adult learning principles and experiential learning.
Participants will also receive a state of the art student manual with all reference materials, PowerPoint presentations and activities.
Introduction and assessment activity
Overview of corporate risk management
- What is corporate risk management and why do we do it?
- Need for corporate risk management.
- Some sources of corporate risk.
- Some common corporate risk categories (hazard, financial, operational, strategic).
Overview of corporate risk management process
- Definition of risk, risk management.
- Corporate risk management process steps - the seven step process (establishing context, indentifying, analysing / quantifying, integrating, assessing/prioritising, treating / exploiting, monitoring and reviewing risks).
Risk management frameworks
- Enterprise risk management.
- ISO 4360, COSO and other risk management frameworks.
- ISO 31000 - new risk management standard.
- GRC (governance, risk and compliance) capability model.
Corporate risk management process lessons learnt
- Process steps commonly missing.
- Organisational implementation.
- Support for risk management within the organisation.
- Behavioural issues associated with implementation.
Corporate risk planning
- Need for risk planning.
- Some keys to successful risk planning.
- The risk management plan.
- The risk register.
Corporate risk identification
- Some common tools and techniques, and their limitations (e.g. checklists, questionnaires, expert opinion (interviews), RBS, key processes)
- Information to collect
- Documentation of risk issues - risk registers.
Activity undertaken in groups
- Key concepts and tools
Monte Carlo simulation
Corporate risk analysis
- Representations of risk.
- Some common tools and techniques, and their limitations (e.g., decision analysis, expert opinion (interviews), monte carlo simulations, scenario analysis).
- Selecting probability distributions.
- Portraying risk analysis results (numerical, ranking, and graphical methods).
Activity undertaken by individuals
- Risk response options (avoid, mitigate, transfer, accept, or combination).
- Some consideration for selecting a risk response strategy (option and specific implementation approach).
- Development of a risk response plan.
- Metrics; their selection, implementation, and integration.
- Feedback to other risk management process steps.
Summary of key points and learning