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International Certificate in Enterprise Risk Management

Course Overview

During economic downturns, and as countries globally continue to experience significant difficulties due to Covid-19, the complexity and velocity of risks continues to increase. It is therefore incumbent for organizations, its leaders and employees to become more risk intelligent, resilient, agile and more risk responsive. They need to understand change before it hits them, adapt at speed and ensure the institution does not tip over in the process. Leaders, additionally, must also ensure their employees become more risk educated.   

Learning Objectives

On successful completion of the course, participants will be able to:
 
  • Assess the value and deployment of an Enterprise Risk Management framework
  • Discuss the role of the Board and executives in risk management
  • Apply risk-based decision making
  • Use data and data analytics to drive decision making
  • Recommend ways to enhance the risk culture of the organization
  • Outline ways of leading through a crisis
  • Assess the role and value of behavioural science in Enterprise Risk Management
  • Implement an Enterprise Risk Management framework
  • Conduct risk assessments and identify risk interconnectedness
  • Manage technology risks as part of Enterprise Risk Management including cyber security risks
  • Use Enterprise Risk Management to enhance internal controls
  • Discuss the importance of business continuity planning and disaster preparedness.
  • Integrate Enterprise Risk Management with strategy
  • Assess the use of Environmental, Social and Governance (ESG) as part of Enterprise Risk Management

Topics To Be Covered:

1. Developing and implementing a Framework for Enterprise Risk Management
(9 hours)
  • How to implement an Enterprise Risk Management framework
  • ERM for private and public sector institutions: no one cap fits all
  • What is the value of ERM? (case study analyses)
  • Developing the ERM framework
  • Agility, resilience building through ERM
  • Frameworks and standards employed in ERM (E.G. COSO and ISO) 
  • Risk classification
2. Risk culture and Governance (6 hours)
  • How to build an effective risk management culture
  • Risk management performance, competencies, training and leadership
  • Effective leadership through a crisis
  • Combatting normalized behaviour; Biases, work ethic, leadership
  • Corporate governance models
  • Reputation risk management: 
  • The impact of behaviour and attitude in identifying risk
  •  Improving the transparency and credibility of those implementing ERM
  • Dealing with conflicting interests and cultures of the various interested and affected parties
3. Risk leadership, Communication and Policy Making (6 hours)
  •  Why is Risk Communication so critical?
  • The role of the C-Suite, and Board in ERM implementation.
  •  Defining Risk Communication Stakeholder Groups
  •  Risk Communication during a crises
  • Evaluating the outcomes of Risk management policies
  • Embedding a Culture of Risk in Policy Making
  • Understanding the Policy Process to Influence Change
  • Giving policy makers a more detailed contextual understanding of how risks and risk governance impact the public in everyday life
  • Delivering an understanding of how risk management decisions can impact the organization.
  • Creating a venue where uncertainties can be addressed, and questions answered
4. Financial Risk Management (9 hours)
  • Determining Risk tolerance and Risk appetite: are they relevant? 
  • The main sources of financial risk: lessons learned
  • The reasons for assessing and measuring risks
  •  The benefits of measuring risks
  • Risk measuring techniques (e.g. Monte Carlo, decision trees)
  • Financial risk standards: e.g. Basel, Sox
  • Using data analytics to aid in decision making
 5. Crises, Resilience and Future risk (6 hours)
  •   Crisis management vs Risk Management
  •  Differences between vulnerability, susceptibility and resilience
  •  Nature and consequence of crises
  •  Developing a crises management plan
  •  Learning lessons from the past (to determine future impact)
  •  Adopting HSSE as part of an ERM framework
6. ERM and the global business environment (6 hours)
  •   Organizational vision and values aligned to ERM
  •  Sector specific and geographical issues: e.g. Energy, Crime, Finance
  •  ERM successes and failures at global institutions: what can be learned and applied locally?
  •  Horizon scanning: an aid to identifying and managing local risk exposures
  •  Management Reporting: an aid in managing risk
  •  ERM as a competitive advantage (locally/globally)
  •  Identifying Emerging risk and the impact on the (future) economy
7. Managing technology risk as part of ERM (9 hours)
  • What is cybersecurity/cyber risk?
  • Conducting IT assessments
  • The future of IT risk: AI, IoT
  • Implementing controls to mitigate technology risk
  • The role of an IT audit
  • Convergence of ERM and IT
8. Integrating ERM with Strategy (6 hours)
  • The role of ERM in strategic planning 
  • How to integrate ERM and Strategy
  • Addressing issues in integration
  •  Leading from in front: role of leadership in integration
  •  What is strategic risk management
  •  Developing a risk-based strategic plan
  •  Risk Based Process Re-engineering: an added value
  •  Enhance strategic planning: increasing the likelihood of achieving objectives
9. Legal, Regulatory and Compliance risk (6 hours)
  •  Regulatory Compliance: e.g.  AML/CFT, FACTA, IR 
  • The legal and regulatory drivers of Enterprise Risk Management 
  • Importance of ERM in international credit ratings (Moody’s, Fitch, S&P) 
  • Importance and value of international and local legislation in supporting an effective risk management program (e.g. role of Parliament, Central Bank’s, OSH act, FIU, ) 
  • Intellectual Property, Data Protection and Privacy Risks
10. Supply Chain and Vendor Risk Management (6 hours)
  • What is supply chain and Vendor risk management?
  • Identifying and mitigating supply chain risk 
  • Operationalizing risk mitigation techniques to treat with international supply chain disruptions
  • The human factor cost in supply chain and vendor risk
  • Identifying and assessing third (3rd) party risk
  • Conducting supply and third party risk assessments
 11. Business Continuity Management (BCM) and Disaster risk preparedness
(9 hours)
  • The drivers of Business Continuity planning
  • How to develop a business continuity management plan
  • Why have a BCM: lessons learned
  • Incident identification, response and reporting
  • BCM versus Disaster recovery/preparedness
  • Preparing for the next major disruption
 12. Risk assessment, analysis and evaluation (6 hours)
  • Conducting risk assessments 
  • Techniques used to identify risk (Risk and Control Self Assessments, Audits, Incident analysis)
  • Root cause analysis and scenario planning as part of risk identification
  • Risk treatment response options
  • Risk Assessments vs Hazard Assessments
  •  Establishment of action plans
  •  Determine the effectiveness of controls to mitigate risks identified. 
  •  outlining the difference between risk (dependent on scenarios) and hazard (found within a specific area);
 13. Environmental, Social and Governance (ESG) as part of ERM (3 hours)
  • The sustainable leadership skills needed to implement climate risk management and facilitate ESG integration in your organization, creating long-term value for shareholders and society.
  • An understanding of how to  design and implement an ESG Risk Management Framework.
  • The ability to formulate effective Risk Indicators to measure the impact of the organization’s ESG performance and align them with sustainability goals. 
  • A practical action plan to build organizational resilience into your organization.
14. The role of Behavioural science in risk identification and management. (3 hours)
  • Understanding people’s tolerance for and approach to risk
  • Analyze risks and  how different people respond to them.
  •   Risk personality assessments 
  • The role of Anthropology and Psychology in ERM
15. Pandemic and Biosecurity Risks: part of strategic risk management: Protecting borders (3 hours)
  • Integrating pandemic risk into business continuity and disaster preparedness plans 
  • Future proofing your home and office borders 
  • The role of Bio-security in managing emerging risk to institutions 
  • Conducting Impact analysis of biosecurity risk  

Course Assessment

The International certificate in Enterprise Risk Management certificate is assessed by continuous assessment and a final project management.

Who Should Attend

  • Executives
  • Internal Auditors
  • Finance Professionals 
  • Entrepreneurs
  • Employees in the Public Sector
  • Risk Managers
  • Compliance Officers
  • Consultants

At a Glance

Course Duration
5th September - 21st November 2022
(12 Weeks)

Registration
Closed
 
Time
Monday, Tuesday, Wednesday
5:00 p.m. - 8:00 p.m. AST

Modality
Online

Certificate Awarded
Professional Development Certificate of Competence

Cost

  • Regular: $2,300.00 USD 
  • Group Rate (3 Persons): USD $1,955 per person
Payment plans are available. Contact us for more information. 

Deadline for Registration and Payment:
2nd September 2022

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