The global landscape remains turbulent, with rising public unrest, fluctuating energy prices, unprecedented natural disasters, volatile stock markets, and widespread geopolitical and economic uncertainty. In such challenging times, how can businesses navigate these stormy waters?
Fortunately, many organizations have recognized the need for an Enterprise Risk Management (ERM) approach. This has allowed them to shift from managing risks in isolation to aggregating and prioritizing them across the entire business.
This Advanced ERM course takes it a step further by evaluating risks through the lens of business materiality. This new perspective on risk enables businesses to implement more effective controls, focusing on addressing the risks that truly matter to the organization. In essence, the emphasis shifts from mere risk avoidance to creating strategic value.
This ENERGY training course on Advanced Enterprise Risk Management will provide the opportunity to:
- Elevate Enterprise Risk Management (ERM) to a strategic level.
- Learn from global risk events and their lessons.
- Establish a clear process for defining risk attitude and appetite.
- Identify key emerging risks.
- Link risk management directly with decision-making processes.
Upon completing this Advanced Enterprise Risk Management training course, you will be able to:
- Apply various techniques for identifying and assessing risks effectively.
- Create measurable value by aligning the Enterprise Risk Management (ERM) framework with organizational performance goals.
- Involve the Board in analyzing enterprise risk scenarios.
- Cultivate a culture that encourages responsible risk-taking to balance value creation with value protection.
- Define the Enterprise Risk Management (ERM) responsibilities for all employees, from executives to frontline staff.
- Implement Key Risk Indicators (KRIs) across different business areas.
- Improve the achievement of corporate objectives by aligning performance targets with risk management actions.
This is an advanced level ENERGY 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 Group-live - with exercises 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.
This Advanced Enterprise Risk Management training course will be valuable for organizations across all industries. It offers advanced tools and techniques to shift the risk management process towards business materiality, evaluating and comparing each risk based on its financial, legal, reputational, and regulatory impact, while classifying them according to their potential effect on the business.
The ENERGY training course will enhance organizational knowledge in the following areas:
- A wide range of approaches for identifying risks.
- The application of advanced techniques like Delphi, Monte Carlo, and Bayesian network analysis.
- The use of Key Risk Indicators (KRIs).
- Strategies for motivating staff to effectively manage risks.
- The role of Enterprise Risk Management (ERM) in project settings.
This Advanced Enterprise Risk Management training course will empower delegates to deepen their personal expertise in the following areas:
- Improving the effectiveness of risk registers.
- Promoting risk ownership across the organization.
- Strengthening decision-making and communication skills.
- Coordinating the Enterprise Risk Management (ERM) process.
- Critically evaluating and challenging risk assessments.
- 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
Day One: 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
- Syndicate Work. Two ERM case studies
- The role of Executive Management and ERM.
- A UK banking sector approach to ERM
Day Two: 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
Day Three: 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 Four: 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
Day Five: 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 M
