Enterprise Risk Management: Principles and Practice

Every organisation takes risks; the best ones take them knowingly.

7 daysIntermediate10 modulesCertification in Risk Management Assurance (CRMA)

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Overview

About this course

Every organisation takes risks; the best ones take them knowingly. Over seven days this course shows you how to build and run an enterprise-wide approach to risk, drawing on recognised frameworks such as ISO 31000 and COSO ERM.

You will set risk appetite, identify and assess risks, plan treatments, design key risk indicators and report to management and the board. Hands-on workshops let you develop a risk register and an implementation roadmap you can take back to your own organisation.

What you'll learn

Explain the principles and value of enterprise risk management
Compare widely used risk management frameworks and standards
Define risk appetite and tolerance in line with strategy
Identify and assess risks using qualitative and quantitative techniques
Select and plan appropriate risk treatments
Build and maintain a risk register and key risk indicators
Report risk clearly to management and the board
Embed a sustainable risk culture across the organisation

Curriculum

10 modules

What risk is and why it matters
From silo risk management to ERM
Benefits and limits of ERM
Risk categories: strategic, financial, operational, compliance

ISO 31000 principles, framework and process
The COSO ERM framework
Comparing approaches
Choosing a framework for your organisation

Roles of the board, risk committee and risk function
The three lines model
Risk appetite statements
Risk tolerance and capacity

Context setting and scope
Workshops, interviews and checklists
Scenario analysis and horizon scanning
Writing clear risk statements

Likelihood and impact scales
Heat maps and risk matrices
Inherent and residual risk
Introduction to quantitative assessment

Avoid, reduce, transfer and accept
Controls and their effectiveness
Insurance and contractual transfer
Treatment plans and owners

Designing key risk indicators
Thresholds and escalation
The risk register as a living tool
Emerging risks

Operational and process risk
Financial and credit risk overview
Business continuity and crisis management
Third-party and supply risk

Reporting to management and the board
Dashboards and risk profiles
Linking risk to strategy and performance
Communicating uncertainty

Assessing risk maturity
Training and awareness
Incentives and accountability
Building an ERM implementation roadmap

Who it's for

Managers, risk officers, internal auditors and finance professionals who identify, assess or report organisational risk.

Before you start

Experience in a management, finance, audit or operations role

Certification

Prepares for

Audit, Fraud & Risk

Certification in Risk Management Assurance (CRMA)

CRMA

2 courses

View certification →

Diplomas

Part of these Alalamia diplomas

Alalamia Diploma in Risk Management

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