This course would introduce the basic principles and concepts of Enterprise Risk Management (ERM). You will gain an understanding of the fundamentals of the ERM framework.
- Enterprise Risk Management overview and terminology
- Return on investment of risk management
- When to apply an Enterprise Risk Management Strategy
- Understanding Governance Risk and Compliance
- Differentiating between Risk Leadership and Risk Oversight
- The evolving landscape of Enterprise Risk Management
- Traditional Enterprise Risk Management frameworks (such as COSO and ISO 31000)
This course would introduce the strategies for operationalizing Enterprise Risk Management (ERM). You will gain an understanding of how ERM integrates into an organization’s governance structure and processes, and explore the drivers and value of an ERM program.
- Developing an Enterprise Risk Management Strategy
- Defining organizational risk competency capabilities
- Designing Risk Governance
- Defining key risk indicators
- Determining risk maturity of the organization
- Designing an Enterprise Risk Management implementation plan
- Developing Enterprise Risk Management communication strategies
- Assessing the organization’s Enterprise Risk Management culture and what is needed
- Obtaining organizational support for Risk Strategy
This course would introduce the fundaments of core Enterprise Risk Management (ERM) activities, including gaining an understanding of your organization’s major risks and determining effective risk response strategies. You will gain an understanding of how to practice ERM in your organization.
- Enterprise Risk Management roles and responsibilities
- Core concepts—Impact, Probability, and Velocity
- Identifying risks
- Analyzing risks
- Risk ranking and prioritization
- Determining risk tolerance
- Evaluating risks and creating a risk strategy
- How to create risk solutions
- Examples and case studies
This course would build upon Module 3 to give you the tools and framework to an advanced approach to ERM based on the integration of ERM and value-based management that supports the integration of ERM into decision-making, and presentation to executive management and the Board of Directors.
- Enterprise risk tree
- Risk Management heat maps
- Emerging risks
- Residual risks
- Risk questionnaire and risk survey
- Overlooked risks—people risks and environmental risks
- Black swan risks
- Presenting to the CEO, Board, and Audit Committee
In this course students are introduced to advanced qualitative risk analysis tools:
- Sensitivity analysis
- Scenario planning
- Monte Carlo simulations
- Event tree analysis
- Influence diagrams
- Techniques to assess catastrophic risk, including systemic risk
- Risk management dashboards including measuring and monitoring key performance indicators and key risk indicators
- Real-life inspired examples and case studies