This interactive workshop is designed for participants involved in or exploring the field of Enterprise Risk Management (ERM) within their organizations. It provides insights into the latest trends in this comprehensive approach to managing business risks amidst evolving complexities, technological advancements, and increasing regulatory pressures. Participants will engage in evaluating the challenges associated with risk management, emphasizing the necessity of a holistic and enterprise-wide strategy.

Overview

While no single definition encompasses ERM, it comprises "methods and processes utilized by organizations to address risks and capitalize on opportunities in pursuit of their objectives." Despite its long-standing presence since the late 20th century, risk management often remains siloed, leading to various organizational crises across sectors. Upon completion of this workshop, attendees will be equipped to:

• Recognize the diverse forms of risks that enterprises face, including financial, operational, strategic, reputational, and regulatory, and understand how to effectively identify, assess, anticipate, and alleviate these critical uncertainties.
• Develop and enhance ERM strategies within their organizations by aligning with current market practices.
• Analyze the evolution of the ERM field over the past twenty years and its increasing importance in light of shifting business and regulatory environments.
• Gain insights from the experiences of other organizations in ERM processes to broaden their understanding and improve enterprise-wide risk oversight.
• Enhance value for the enterprise through an integrated approach to strategic planning and risk management.

Who Should Attend

This workshop is suitable for individuals engaged in leading and executing ERM initiatives, including:

• Board members
• Senior executives such as CEOs, CFOs, controllers, and chief audit executives
• Corporate leaders responsible for ERM implementation
• Support personnel in technology and other areas related to ERM
• Risk management professionals

Methodology

This will be a hands-on workshop featuring discussions, case studies, interactive games, and assignments to better understand the concepts and their practical applications.

Trainer

The trainers are selected for their extensive experience in the financial industry. This course will be led by a distinguished consultant with over 35 years of experience in financial markets and training, who previously served as the Regional Director for the Singapore chapter and Global Board member of the Professional Risk Managers International Association.

Course Content

Module – 1

Living with Risks and Embracing ERM

• The significance of risk management in organizations
• The goals of risk management: loss avoidance, value creation, and enhancement
• Identifying relevant risks and their interconnectedness
• Anticipating future uncertainties and mapping potential risks

Module – 2

The Evolving Story of ERM

• Overview of COSO frameworks from 2004, 2013, and 2017
• Insights on ISO standards from 2009 and 2017
• Understanding Basel guidelines concerning ERM

Module – 3

The Nuts and Bolts of ERM

• The terminology and framework of ERM
• The roles of various stakeholders in ERM
• Essential and non-essential elements of ERM

Module – 4

Creating an Effective ERM Framework

• The necessity of operational processes and a strong risk culture
• Integrating ERM with strategic planning
• Understanding the risks facing the enterprise
• Challenges in ERM implementation
• Practical aspects of a risk management framework
• Utilizing facts, figures, and common sense in business

Module – 5

ERM in Practice

• Risk assessment and prioritization techniques
• Considering different risk characteristics
• Ongoing risk responses and management
• Importance of risk reporting and key indicators

Module – 6

ERM - Historical Insights

• Lessons learned from past crises such as Enron and Lehman Brothers
• Future directions for ERM maturity in organizations

For additional information, please visit the course website or contact via email.