Centre for Professional Development and Lifelong Learning

Risk Management

International Certificate in Enterprise Risk Management

International Certificate in Enterprise Risk Management

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.   

 

What will I Learn?

• Understand the value and deployment of an Enterprise Risk Management framework
• Using data and data analytics to drive decision making
• Understand how to enhance the risk culture of the organization
• Leadership through a crisis
• The role of the Board and executives in risk management
• How to apply risk-based decision making
• Effective crises communication
• The role and value of behavioural science in ERM
• Improve governance, leadership, enhance value and reduce waste
• Learn how to implement an Enterprise Risk Management framework
• Ability to conduct risk assessments and identify risk interconnectedness
• Manage technology Risks as part of ERM e.g. Cyber Security
• Communication of risk to advance effective policy development
• Using ERM to enhance internal controls
• Acquire the latest practical skills for managing operational, strategic and financial risk
• Discuss the importance of Business Continuity Planning and Disaster preparedness.
• Integrating ERM with strategy
• Environmental, Social and Governance (ESG) as part of ERM
• Case study analyses
 

Who Should do this Course

Executives, Board Directors, private sector business owners, internal auditors, finance professionals,
entrepreneurs, employees in the public sector, risk managers, compliance officers, HSSE officers,
protective services personnel and consultants.  
 

Important Information

Corporate Discount
Organizations sending three (3) or more participants to any one of our short courses are eligible for a 15% discount on the total course fees of the three (3) or more persons registered for the same course. We hope that our corporate discount encourages companies to send teams of employees to attend short courses together, enabling them to develop a shared language and common understanding of the course concepts and tools. Together they can apply their learning with greater impact in their organizations.
Organizations sending ten (10) or more individuals to any number of our short courses may qualify for additional discounted pricing. To learn more, email cpdll@cavehill.uwi.edu or call (246) 417-4300/4307.

Multiple Course Registration Discount
Individuals registering at one time for more than one short course will receive 15% off each additional course (e.g. if enrolling in three (3)  two (2)-day courses which cost $3,300 each, the first (1st) course would be charged at the full price of $3,300, and the two (2) additional courses would be at the discounted price of $2,805 each). To benefit from this discount, all course registrations must be submitted via a single application form.

Early Bird Discount
Individuals who register for a course at least one (1) month in advance of the start date of the short course will be eligible for a 10% discount on the course.

Group/Team Discount
Individuals registering as a group or team of five (5) or more participants and one (1) month in advance to any one (1) of our short courses are eligible for a 15% course fee discount. We hope that our group or team discount encourages and develops lifelong learners that will positively impact society.
 


Enterprise Risk Management (ERM) is a structured, proven process for proactively identifying and evaluating how events and forces of change impact an organization and its strategy and for developing measures for dealing with the risks that constantly threaten the achievement of an organization’s objectives and allows for the identification of opportunities. Organizations cannot wait to respond;  
they must find a way to be more anticipatory. Respond means the risk has eventuated- we need to prevent not respond. ERM will aid in this regard.  

ERM is a process that can serve many purposes; as a tool for risk management, strategic planning and identification of emerging opportunities and potential competitive advantages.
Given the current economic environment, which will, according to the experts, persist for the foreseeable future, it has become a critical imperative for organizations to either implement or enhance its Enterprise Risk Management framework. As the economy forces organizations to change strategies or implement new initiatives, new risks will emerge, and existing risks will change.  Enterprise Risk Management should be employed not only to identify what can go wrong but also what needs to go right (i.e. new opportunities).  

This International Certificate in Enterprise Risk Management (IC-ERM) is designed for today’s fast paced and increasingly complex operating and regulatory environment. This programme will provide modern techniques in Risk Management that will enhance existing skill sets and/or allow for new entrances in the field to progress faster. CRMA/CPDLL is the only tertiary organization locally and, regionally to offer an International Certificate in Enterprise Risk Management with facilitators possessing local and  global expertise in disciplines that fall under the rubric of Enterprise Risk Management. 

At a Glance

  • Admissions Term: 2020/2021 Semester I
  • Registration: Open
  • Date: March 7, 2022 - May 27, 2022
  • Time: (Monday, Tuesday, Wednesday) 5:30-8:00 PM
  • Duration: 12 weeks- 90hours
  • Certificate Awarded: Professional Development Certificate of Competence
  • Capacity: 40
  • Cost: BDS$4600.00/ US$2300.00

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  

 

The International certificate in Enterprise Risk Management certificate is assessed by:
• Continuous assessment – 40% • An end-of-program practicum exam – 60%

NAME: KEN HACKSHAW

TITLE: RISK MANAGEMENT CONSULTANT, FOUNDER AND PRESIDENT, CRMA
 
ABOUT:  Ken Hackshaw is the Managing Director and Lead Consultant at KHBC Limited as well as the Founder and President of the Caribbean Risk Management Academy.  
 
An Organizational Change Architect and Operational Risk Practitioner, Mr. Hackshaw returned to the Caribbean after gaining extensive experience internationally in Risk Management and first established the Trinidad and Tobago Risk Management Institute (TTRMI). The CRMA was founded a few years later with regional relationships and partnerships in Risk Management.  
 
Mr. Hackshaw’s international career spans 23 years working in New York, NY, USA and London, England, in the fields of Operational Risk Management, International Operations and Business Process Reengineering. He has held various senior executive positions including: Senior Risk Analyst, Depository Trust and Clearing Corporation, N.Y.; Vice President, Deutsche Bank, N.Y. & London; and Vice President, Electronic Data Systems (EDS), N.Y.
 
Mr. Hackshaw holds a Bachelor of Science degree in Business Management, a Diploma in Law from the University of London and advanced training and certification in Operational Risk Management, International Securities Processing and Project Management. He is also completing a Post Graduate Diploma in Risk Management and Strategic Thinking from Stanford University.
 
Mr. Hackshaw is also a lecturer / facilitator at the Arthur Lok Jack Global School of Business (UWI) in various risk programs including Enterprise Risk Management, Operational Risk Management and Ethics and Compliance


NAME: MS. KELLY ANN ST. CLAIR RICHARDS 

TITLE: ENERGY SECTOR PROFESSIONAL AND STRATEGIC RISK MANAGEMENT CONSULTANT

Kellee Ann Richards-St Clair is an energy sector professional and a certified governance, risk and compliance professional. She started her career in technical services and plant water treatment. Later she transitioned to the energy sector where she currently coordinates and leads commercial operations. Mrs. Richards-St Clair holds a BSc in Chemistry with Management (Honours) and an MSc (with Distinctions) in Project Management from the University of the West Indies. She also holds an MBA (with Distinctions) in Sustainable Energy Management from the Arthur Lok Jack Global School of Business. She has conducted research at the Post Graduate Level in the areas of Green Chemistry for Petrochemical Industries and Enterprise Risk Management practices of Private Sector Firms in Trinidad and Tobago.
 
She has over 14 years’ experience in the energy industry and has extensive experience in the areas of commodity sales, project management, deal valuations and risk management at the enterprise and project level.  Mrs. Richards-St Clair is currently a lecturer in the areas of Enterprise Risk Management in the Global Business Environment and Financial Risk Management for the Professional Certificate in Enterprise Risk Management hosted by the Arthur Lok Jack Global School of Business and the Trinidad and Tobago Risk Management Institute.
 


NAME:  JOEL K. RICHARDS

TITLE: INTERNATIONAL TRADE SPECIALIST

Joel Richards is an international trade policy professional with over 12 years of experience in providing high quality advice to senior government officials and business executives within the Caribbean Community (CARICOM) on international trade policy and related issues. A major motivating factor in his work is a desire to assist developing and least developed countries to benefit more fully from their integration into the global economy.   Joel previously served in senior advisory roles at private sector organisations in Barbados and the CARICOM Secretariat. He is currently a Senior Technical Specialist with the Permanent Delegation of the Organisation of Eastern Caribbean States (OECS) to the World Trade Organization (WTO) and other international organisations in Geneva.    
 
Joel lectures in  International Negotiations & Advocacy and the Trade-Related Aspects of Electronic Commerce  on the Masters in International Trade Policy Programme at The UWI, Cave Hill Campus. He is also the Founder and Former Chairman of the Spout Head Foundation Charity which is registered in Barbados and was set up to provide support to the poor and marginalised.  
 
Joel is a graduate of the University of the West Indies Cave Hill Campus where he graduated with a Master of Science Degree in international Trade Policy with Distinction. He is also a graduate of the University of the West Indies, Mona campus with a Bachelor of Science Degree in international Relations. Currently, he is pursuing doctoral studies with the University of the West Indies, St. Augustine Campus' Institute of International Relations.
 


NAME: Anthony Subero, MBA, IMIS, Dip BM, PMP TITLE: Chief Operations and Compliance Officer, Hitachi Systems Security Inc.

Anthony Subero is currently the Chief Operations and Compliance Officer for Hitachi Systems Security Inc. – a subsidiary of the Hitachi Group.
 
Anthony was formerly the Chief Risk Officer for Republic Financial Holdings Limited. He has over 15 years of experience at the senior/executive management level and over 30 years of experience in the banking industry.  Anthony specializes in Strategic Planning, Operations Management, Internal Audit, Enterprise Risk Management, Operational Risk Management, Information Security, Business Continuity Management, Corporate Security, and Anti Money Laundering Compliance.
 
Anthony holds a Master of Business Administration from the Lord Ashcroft International School of Business, United Kingdom. He also holds a Diploma and Higher Diploma from the Institute of Management Information Systems, Surrey London, an Executive Diploma in Business Management from the Arthur Lok Jack Graduate School of Business, a Certificate in Strategic Project Management from the University of Florida; and Project Management Professional (PMP) accreditation from the Project Management Institute, USA.
 
Anthony sits on the Board of Hitachi Systems Security Inc., Hitachi Systems Security Europe as well as the Board of the Caribbean Institute for Security and Public Safety. Anthony was speaker/panelist on the following themes/topics:
 
1. “Internal Audit – the strategic business partner” – Above Security Annual Global Conference 2015 2. “Effective Risk Culture and its impact on Company’s Performance” – Above Security Global Conference 2016 3. “Impact of Fraud on the Economy of Trinidad and Tobago” – ICATT’s Annual Conference 2016 4. “Effective Internal Auditing requires a Risk Based Approach” – IIA (T&T) 2017 5. “Fresh Approach to Financial Regulations: A Blueprint for overcoming Systemic Risk – Caribbean Associations of Banks Annual Conference (2017) 6. “Navigating the pandemic for the Banking Industry: New Cyber risks and the acceleration of Digital Transformation” – Caribbean Associations of Banks (May 2020) 7. “Managing Privacy Risks – Top to Bottom” – The International Association of Privacy Professionals (June 2020)
 


NAME: DR. KAREN HARDY

TITLE: CEO and Chief Risk Officer for Strategic Leadership Advisors LLC.
 
ABOUT:  An industry pioneer, Dr. Hardy built a 'Best in Class' enterprise risk management operation from the ground up for a $7B U.S. public sector organization that supported creating conditions for economic growth and opportunity. She is the Creator/Host of Flip This Risk Podcast and a Best-selling author of the book Enterprise Risk Management: A Guide for Government Professionals.
 
A former Director of Risk Management at the U.S. Department of Commerce where she oversaw the implementation of the Department’s ERM and Audit Follow up programs, Dr. Hardy is a known visionary, innovator and influencer for the advancement of Enterprise Risk Management in the Federal government sector. She played a key role in the development of ERM in Government and was an architect of public policy, contributing to authoring Section 270.25-29 “Enterprise Risk Management” in OMB Circular A-11 and language in OMB A-123 which officially introduced the ERM concept to the entire Federal government.  
 
Dr. Hardy found and Chaired the Federal government’s Interagency ERM Council, which forged collaborative working relationships across multiple agencies and OMB community. She is the first federal employee to serve as a member of the COSO ERM Advisory Council. Dr. Hardy has made many presentations including at the United Nations Undersecretary Management and served as Senior Advisor for risk management policy at the White House Office of Management and Budget in 2014. She is author of the seminal award-winning textbook “Enterprise Risk Management: A Guide for Government Professionals” (John Wiley & Sons 2014). Dr. Hardy is a founder of the Association for Federal Enterprise Risk Management and served as a Board Vice President. Dr. Hardy authored the first IBM report on ERM entitled “Managing Risk in Government: An Introduction to Enterprise Risk Management” Over 6,000+ copies of her report have been digitally downloaded. She is skilled at designing and implementing Risk Management frameworks and has done so impacting 39 agencies.
 


Atiba Griffith is an Electrical Engineer and Statistician with focus areas in Mathematical Statistics (Measurement) and Computational Economics. He completed the Master of Science degree in Electrical Engineering and the Postgraduate Certificate in Power Electronics and Systems simultaneously at the New York University Polytechnic School of Engineering (renamed Tandon School of Engineering) specializing in Power Electronics & Systems and System Controls. He studied under world-renowned electrical engineer Professor Dariusz Czarkowski and mathematician Professor Zhong-Ping Jiang. That same year, Atiba qualified as an engineer by virtue of the Statutory Instruments n.2007/2781-The European Communities (Recognition of Professional Qualifications) Regulation 2007-Directive European Union 2005/36/EC. through the Institution of Engineering and Technology, U.K after being admitted as a full member with designation, MIET. He was also admitted as a full member of the Institute of Electrical and Electronics Engineers, U.S.A with the designation, MIEEE.
Atiba is also the holder of a Master of Science degree in Economics from the City University of New York, December 2010. In addition, he completed fifteen (15) graduate credits in Industrial & Organizational (I/O) Psychology focusing on Quantitative Methods and Group Dynamics at the same university. Apart from graduate degrees in engineering and economics, Atiba has also earned a Bachelor of Arts in Philosophy from Brooklyn College and a Bachelor of Music degree in Performance from the Conservatory of Music at Brooklyn College. He also completed Executive Training in Organizational Strategy at the Wharton School, the Professional Certificate in Enterprise Risk Management with distinction at the Arthur Lok Jack Global School of Business and is a Balanced Scorecard Professional (BSP). He is a former council member of the Microsoft Information Technology Advisory Council, Northeastern Region, USA, and a former Mathematics Lecturer at the University of the West Indies, Cave Hill Campus in the Department of Computer Science, Mathematics, and Physics.
He is currently the Head of Statistics at the Caribbean Examinations Council (CXC) and was the former Senior Manager for Corporate Planning and Strategy Management at CXC.