Program Overview
Corporate risk is typically regarded as equivalent to financial risk. This is a major error because financial risk is only one element of an organization’s risk profile. Other risks include business change risk, operational risk and governance/organization risk. Taken together they can be classed as strategic risk, and the question is then how to manage risk in all its dynamic complexity. There is a huge difference between understanding risk and managing risk. This module provides a unique tool kit for all managers who have to confront risk issues as part of the strategic planning and management process.
Program Objectives
Upon the successful completion of the module, participants should be able to:
- Realize the different types of strategic risk
- Understand the key elements of the risk management process
- Understand the different attitudes towards risk
- Understand the concept of Peripheral Vision and how to detect the weak signals that may make or break the organization
- Understand the key pillars of COSO II model for Enterprise Risk Management
- Identify the key components of RIMS Risk Maturity Model
Program Key Content
The concept of risk management.
- Defining Risk
- What is Risk Management?
- Why do we need to manage strategic risk?
- Principles of Risk Management
Strategic Risk
Risk Management Culture
Peripheral Vision: detecting the weak signals that will make or break your organization
The risk interdependency field and the development of a risk process management model.
COSO II model for Enterprise Risk Management
RIMS Risk Maturity Model
The role of the Board & Executive Management team in Risk Management
Economics of Risk Management
Sample Slides
