Enterprise Risk Management (ERM)

Enterprise risk management (ERM) includes the strategies, methods and processes used by business organizations to manage risks.

ERM sets out a framework for risk management. Typically this involves identifying specific events or circumstances relating to the business organization's objectives (in terms of risks and opportunities), assessing them on the basis of their likelihood of occurrence & their magnitude of impact on the firm, determining a response strategy, and monitoring progress of the event, the response and the outcome.

By being proactive in the identification and addressing such risks and opportunities, business organizations protect shareholder value as well as create additional value for their stakeholders, including the owners, employees, customers, regulators, and ultimately society overall.

ERM can may also be seen as a risk-based approach to managing a business, integrating the concepts of internal control, regulatory requirements (such as the Sarbanes–Oxley Act), and strategic planning.

ERM continues to evolve and aims to address the needs of various stakeholders, who want to understand the broad continuum of risks that face complex organizations to make certain they are managed appropriately. Regulators and rating agencies have also increased their scrutiny on the risk management processes of companies and firms. This increased scrutiny today makes up an important component of how the outside world views business organizations.

Course Objectives:

The course will provide participants with the necessary perception, knowledge and skill set to understand the risks and benefits of Enterprise Risk Management and learn how the COSO – ERM framework enables organizations and management to:

• Comply with the requirements for corporate governance (such as the various international standards like Sarbanes–Oxley and the Cadbury Report),
• Align risk appetite and strategy,
• Enhance risk response decisions,
• Reduce operational surprises and losses,
• Identify and manage multiple and cross-organizational risks,
• Provide integrated responses to multiple risks,
• Improve the deployment of capital,

Who will Benefit:

This practical hands-on training course is designed for all businesses both large and small. The following job titles/ positions will benefit from participating;

• Ethics & Compliance Executives/Managers
• General / Corporate Counselors
• Corporate Legal Executives/Managers
• Business Division Managers
• Branch and Regional Management
• Supply chain and procurement directors, managers and their staff
• Board members, especially risk and audit committee chairs and members
• Heads of market, credit, and operational risk
• Head of Risk Management
• Risk Officers
• Compliance Officers