Enterprise Risk Management
WAERM22
(Management & Leadership)
Outstanding Features
Do you want to create a more risk focused culture for your organization? This 5 day in-depth course looks at practical ways you can improve your organization’s perspective on risk, how to use resources efficiently and be in a better position to effectively coordinate regulatory and compliance matters.
Individuals will come away from this course with a heightened awareness of enterprise risk management in an increasingly risk commercial environment.
Course Overview
Enterprise risk management (ERM or E.R.M.) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization’s objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall.
Target Audience
Middle to Senior management in addition to corporations that include risk
managers/insurance department.
You Will Learn How to
By the end of the course delegates will be able to appreciate how to: Create and increase company valueEnsure business continuityStabilize earningsEnhance opportunities for the company to achieve its objectivesMake risk management more cost-efficient
Topics
Introduction to ERMERM in ContextERM in PracticeERM FrameworkHazard RiskFinancial RiskOperational RiskStrategic RiskRisk MetricsApplication of ERMCOSO Pros and ConsConclusion
Course Details
The Enterprise Risk Management Process Involves: Establishing Context: This includes an understanding of the current conditions in which the organization operates on an internal, external and risk management context. Identifying Risks: This includes the documentation of the material threats to the organization’s achievement of its objectives and the representation of areas that the organization may exploit for competitive advantage. Analyzing/Quantifying Risks: This includes the calibration and, if possible, creation of probability distributions of outcomes for each material risk. Integrating Risks: This includes the aggregation of all risk distributions, reflecting correlations and portfolio effects, and the formulation of the results in terms of impact on the organization’s key performance metrics. Assessing/Prioritizing Risks: This includes the determination of the contribution of each risk to the aggregate risk profile, and appropriate prioritization. Treating/Exploiting Risks: This includes the development of strategies for controlling and exploiting the various risks. Monitoring and Reviewing: This includes the continual measurement and monitoring of the risk environment and the performance of the risk management strategies.
Course Length
5 Days
Course Director
Dr. Charles Bradley
Certifications
Upon completion, you will receive a Worley Academy Certificate of Completion.