We live in an increasingly complex business environment where risks and opportunities (the upside of risk) are in abundance. In this complex and rapidly evolving environment risk management is no longer a luxury but a necessity for any business organisation that aspires to manage its risks and capitalize on the opportunities.
According to the ISO 31000 Risk Management Standard everyone in an organization has responsibility for managing risk. Risk is managed in every part of the organization’s structure. Effective risk management must be an integral part of all organizational activities, be structured, comprehensive, inclusive, take into account the human factors that may influence risk at each level and stage and aim for continual improvement through learning and experience.
Successful implementation of any risk management programme requires the development of a risk culture within the organisation and a system of governance to communicate, consult, monitor and review, record and report risk both to internal and external stakeholders.
This workshop is based on international standards and practices like ISO 31000, IRM, FERMA.
The programme will provide participants with the framework and tools to be able to assess the risk culture and risk maturity level of an organisation, identify who are the key stakeholders and their roles within the risk management framework.
Participants will also attain the knowhow to be able to design and implement risk and control metrics, risk communication, consultation, monitoring review, recording and reporting tools for the effective implementation of a risk management program.
In summary, by the end of the course participants should be able to:
- Understand and assess the risk culture and its maturity within an organization
- Understand the human factors that influence the risk culture
- Understand the importance of having a sound risk culture
- Understand the roles of key stake holders within the risk management framework
- Communicate risk to stakeholders
- Consult with stakeholders about risk
- Understand Key Risk Indicators and other metrics and their importance
- Understand the Risk review process
- Design risk reports, their frequency and who should receive them
- Risk Communication Monitoring and Review
- Leadership and commitment
- Risk Culture and the human factor
- Corporate social responsibility
- Communication, consultation, corporate governance and the role of the board
- Risk management information systems
- Risk review
- Risk assurance
- Risk recording and reporting
The programme will be delivered through a mix of presentations, workshops, and case studies.
Participants will have the opportunity to analyse and discuss case studies and interact with other participants on how to assess and improve the risk culture within their organisation. Participants will also apply international standards like ISO 31000, FERMA, IRM in developing a risk communication, consultation, monitoring, reporting and review framework for continual improvement of the risk management process.
Who should attend
- Senior executives with risk oversight responsibility and board members who want to enhance their understanding of these elements of the risk management framework
- Strategy, planning professionals
- Compliance officers
- Risk and financial professionals
- HR managers at any level within any organisation or industry
- Internal or external auditors who want to enhance their knowledge and skills in auditing risk management frameworks and programs
- Newcomers or anyone with a role or interest in risk management within any organisation or industry