Enterprise Risk Management Bringing it to Life (Global)

Understand the why, what, how and who of implementing an ERM framework. This course provides an introduction to Enterprise Risk Management (ERM), and the value that it brings to an organisation when it is well designed and put into practice. ERM is all about managing the full range of enterprise risks in a consistent, common, and integrated way so as you deliver a complete aggregated view of risk across the organisation. The key is moving from a siloed, risk and business area centric view of risk to one that is truly enterprise wide. This course provides the complete jigsaw puzzle that is ERM, covering in a practical way, the elements that make up a strong ERM capability from Governance, People and Culture, Escalation and Reporting and Continuous Improvement, through to a focus on all of the typical systems and processes that need to be in place. These include Risk Assessment, Risk Metrics, Incident Management, Controls Assurance, Issues and Actions Management and Compliance. The course will build an ERM ecosystem that sets out the complete picture of practical ERM to enable you to develop a blueprint in order to benchmark your current framework and capabilities and assist you in developing your strategy for your Enterprise Risk Management going into the next decade.

Course description

In this course, you’ll learn:

1. What is ERM?

2. The value of ERM

• Clearly defining and articulating the objectives, purpose, uses and value add of ERM
• Moving risk management from hindrance to outcome management as an enabler

3. Understanding risk and controls

• Having a clear understanding of risk and controls, their components and types
• Using risk bow tie analysis
• Creating a strong risk taxonomy of risk and control libraries

4. An enterprise risk management framework

• The overall ERM ecosystem/framework. The “jigsaw”
• Integrating with, and linking to, strategy and objectives
• The importance of linking through critical processes
• The key parts of the framework

5. The risk management framework components

• Governance
• Processes and systems
• People and culture
• Escalation, reporting and response
• Continuous improvement

6. ERM Governance

• Risk appetite
• Three lines model
• Frameworks and policies
• Roles, responsibilities and accountabilities

7. Processes and systems

• Risk assessment
• Incident management
• Risk metrics
• Issues and actions
• Controls assurance
• Compliance

8. Escalation, reporting and response

• Dynamic and integrated risk reporting and analytics
• Assurance and early warnings
• Using for decision making

9. Continuous improvement

• Issues and actions management
• Risk treatment

10. People & culture

• Everyone’s a risk manager
• Risk culture
• Roles, responsibilities, accountabilities and ownership

Course expectations

• Watch 27 videos
• Answer 13 knowledge questions
• Answer 10 quiz questions

Time

• 3 hours 30 minutes of video content
• 4-5 hours for the whole course