Overview

Organizations, businesses, and even individuals operate daily in very dynamic, unpredictable, turbulent, and risky environments. Recent and on-going events including the global financial/economic crises, terrorist attacks, crime incidences, political strife, government policy actions or inactions, and a host of others continue to impact negatively on businesses – sometimes leading to business failures, declining profitability, shrinking capital, unanticipated mergers and acquisitions, redundancies, down-sizing activities, and so on.

Smart and forward-looking organizations deploy and promote sound and robust risk management practices at every level or aspect of their operations in order to improve competitive advantage, enhance product and service quality and delivery, minimize costs, maximize business opportunities, increase profitability, and achieve the overall business objectives set by board and management.

Risk management is not just a function in an organization BUT a way of life for the successful operations of the business. The underlying premise of Enterprise Risk Management is that every entity exists to provide value to its stakeholders, and that there are certain forces, events or factors (risks and uncertainties) which pose challenges to the entity’s pursuit of its objective of maximizing stakeholder value. Hence, the need for board and management to deploy systems, structures, policies, processes, and people within the company in order to efficiently and effectively deal with these challenges, enhancing the capacity to build value.

This well-researched and pragmatic programme is specially designed to enable organizations adopt a world-class approach to Enterprise Risk Management; and understand practical issues in ERM Framework design, development, review, and successful implementation.

Course Outline

The general outline the programme would be as follows:

  • The Domestic and External Risk Factors in Today’s Business Environment
  • Why Do Businesses Fail?
  • Understanding Your Organization’s Business
  • The Concepts and Typology of Risk
  • Identifying the Key Risks in Your Business
  • Principles of Risk Management
  • Enterprise Risk Management (ERM): A Business Case
  • The COSO ERM Framework Model: Understanding the Three Dimensions
  • Embedding ERM in Business Objective Setting
  • Sound Risk Governance Structures: Roles and Responsibilities
  • Adopting the Three Lines of Defense Model
  • The Enterprise Risk Management Processes
  • Tips on Managing Business-Specific Risks (Credit Risk, Market Risk, Liquidity Risk, Operational Risk, Technology Risk, Strategy Risk, Financing Risk, Legal/Litigation Risk, Regulatory/Compliance Risk, among others).
  • Developing and Reviewing Your Firm’s Enterprise Risk Management Framework
  • Successful ERM Implementation
  • Case Studies & Group Presentation
  • Conclusion