McTimothy Associates

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ENTERPRISE RISK MANAGEMENT

Why Attend

Rationale

Enterprise Risk Management known as (ERM) has evolved a lot since the seventies. From simply ‘buying’ insurance, it has now evolved and grown in importance to become a prime function in many organizations. It is now part of a bigger system known as Governance, Risk and Compliance (GRC) which starts with corporate governance and ends with compliance. ERM is the function of studying the risks that may hinder a corporation’s ability to achieve its goals and then deciding how to overcome these risks. Studies regarding risk management were done by different organizations, including ISO which issued ISO 31000 on risk management. However, the most accepted ERM system is the one designed by ‘COSO’. This system, which is the one covered in this course, teaches the steps needed to control risk. It starts with the evaluation of the internal environment and the setting of objectives which are, mainly, a result of the tone at the top of the organization, the directives from corporate governance as well as the vision, mission and corporate strategies. Then, the course goes through the steps management needs to consider in order to identify and assess risk and decide on proper risk responses and controls. The course ends with how to monitor, communicate and report risk. In addition, the course looks at risk in different organizational areas such as strategy, reporting, compliance, operations, financial or physical risk as well as risk in different industries.

$ 178.77

Event Date: 07/12/2022 – 09/12/2022

Total:

More Dates

10/07/2024 – 12/07/2024

Price: $ 195.53

15/08/2024 – 17/08/2024

Price: $ 195.53

19/12/2024 – 21/12/2024

Price: $ 195.53

Course Outline

  • Introduction
    • Risk perception
    • Why should we care about risk
    • Internal environment changes
    • External environment changes
  • Risk management and corporate governance
    • Introduction to corporate governance
    • GRC concept: governance, risk and compliance
    • GRC system: governance, risks and controls
    • Risk management as part of corporate governance
    • Governance failures
    • Risk based decision making
  • Risk management and corporate control environment
    • Risk management’s influence on designing internal controls
    • Risk-Based internal audit assessment of risk management performance
  • ERM and its evolution
    • ERM evolution
    • ERM benefits
    • ERM platform
      • Strategic approach
      • Operations and tactics
      • Business reporting
      • Compliance and process
  • Risk categories
    • Strategic risks
    • Reporting risks
    • Financial risks
    • Physical: life and safety risks
    • Compliance
      • Laws and regulations
      • Financial reporting standards
    • Operations
      • External environment: socioeconomic, regulations, technology and competition
      • Internal environment: structure, processes and culture
  • ERM components
    • Internal environment
    • Objectives setting
    • Event identification
    • Risk assessment:
    • The black swan challenge
    • Quantitative versus qualitative analysis
    • Risk response
    • Control activities
    • Information and communication
    • Risk monitoring

Duration:  2 days

Class Session: 10:00 am – 4:00 pm each day including Breakfast and Lunchtime (for an in-class session).

Customize Your Training

This training is currently available as a residential/in-house option. If you prefer us to customize or have this training in-house at your location, kindly send your request via e-mail to:training@mctimothyassociates.com

Please Note

McTimothy Associates reserves the right to postpone or cancel a course due to unforeseen circumstances beyond our control. In such cases, delegate(s) will be registered for the next run date of the Course.

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