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The US business environment as well as those of other countries have experienced over the years significant risk events with significant negative risk consequences. In recent times there have been a plethora of risk episodes in the corporate world.
Many of these episodes could have been avoided or modified if the entities experiencing the risk episode had in place sound risk management practices. This presentation starts with a review of a risk management thought framework that supports the effective risk management standards that an entity should maintain.
It then places this risk management framework in a real-world context by examining actual risk episodes that were experienced due to the absence of sound risk management practices. The absent practices will be discussed in detail in the review of each case. In addition, the roles of an entity's Risk Management and Compliance functions will be brought out in each review.
Risk management education is typically provided via textbooks and classroom presentations, but education in these forms remain pretty much as theory to the learner. However, the use of Risk Management case studies as an educational vehicle provides an immediate understanding of risk management practices in the real world and takes them from being theory to being practical management tools. In addition, the identification of the severe consequences that resulted from a risk event will reinforce the value of having sound risk management practices.
This presentation displays nine real-life case studies each of which will define the risk event experienced, the background to the event, the negative consequences the event generated, the underlying risk conditions and causes that lead to the event and the risk management preventives that were absent.
The case studies collectively will aid in understanding the need for appropriate risk management policies, procedures and practices as well as serve as a blueprint for the employment of an organization’s Risk Management and Compliance functions. Lastly, it will address the concept of risk metrics.
Participants will not only find the case studies to be highly educational, but also extremely interesting pieces of corporate history.
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