Risk Management for Boards (Global)

Board members play a critical role in ensuring sustainable success in their organisation – which can only be achieved through intelligent risk taking and effective governance. This course provides directors and board members the knowledge and skills to both work with and provide challenge to executive management on the effectiveness of risk frameworks, processes and culture within their organisation. The course distinguishes between the oversight responsibilities of the board and the day-to-day practices of management, enabling boards to discharge their oversight responsibilities while understanding ‘what good looks like’.  

Course description

In this course, you’ll learn:  

1. Who is responsible for risk management?

• Everyone as a risk manager
• Corporate Governance Guidance
• The 3 Lines Model
• Roles across the Organisation
• Roles and Responsibilities of the Board

 

2. The value of risk management

• Risk perceptions
• Redefining risk management as outcome management
• Benefits of risk management to the Board

 

3. Understanding risks

• Components of risk
• The importance of a consistent approach
• Applying risk taxonomies at Board level

 

4. Understanding controls

• Board accountability for the internal control framework
• How controls modify risk

 

5. Risk management frameworks

• Informal and formal risk management
• The ISO 31000 risk management process
• The Risk and Reward pyramid

 

6. Board risk management processes

• Assurance over the Enterprise Risk Management Framework
• Assurance over the Internal Control Framework
• Link to organisational risk processes

 

7. Board risk appetite

• Definition of risk appetite
• Benefits of risk appetite
• Developing the Risk Appetite Statement
• Setting appetite for outcomes and risks
• Risk and control ownership

 

8. Organisational risk management processes

• Risk and control self-assessment
• Risk metrics
• Incident management
• Controls assurance
• Issues and actions
• Compliance
• Risk in change

 

9. Risk reporting

• Purpose of board risk reporting
• Data structure
• Types of risk reports

 

10. Cadence of risk management

• The dynamism of risk
• Alignment with Board meetings
• Alignment with strategy and change

 

11. Risk culture and behaviours

• Importance of risk culture
• Measuring culture
• Essential skills and actions of the Board

 

Course expectations

• Watch 18 videos
• Answer 5 knowledge questions
• Answer 10 quiz questions

 

Time

• 3 hours of video content
• 3.5-4 hours for the whole course