RMS 101 - ENTERPRISE RISK MANAGEMENT

INTRODUCTION

The Enterprise Risk Management (ERM) training course is a practical hands-on training designed for managers, professionals, consultants, internal and external auditors that deal with the complexities of enterprise wide risk management function on a daily basis.

Learning outcomes

    •      How to apply the COSO-ERM framework so you can implement an effective ERM system
    •      Benchmark your ERM practices against the COSO-ERM framework so you can measure your present practices stand-up to industry standards
    •      Comply with the requirements for corporate governance (such as the various international standards like the Cadbury Report)
    •      Get the big picture of ERM Framework
    •      Learn how to 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
    •      Gain more confidence in doing ERM in your company/job
    •      Improve the deployment of capital
    •      Discover how to design and implement an appropriate Enterprise Risk Management system i.e. policies, procedures, practices, and accountability required to establish the right levels of Risk Management in compliance with current standards and other requirements for your organization

    Practitioners of Enterprise Risk Management are quick to describe the many benefits implementing the ERM framework has brought to their organization and the risk management process. But many non-practitioners simply don’t know how to get started with or how to make the most of ERM, and that’s what this course is about.

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     I.          Overview of ERM

         Describe the frameworks and other components associated with the background of Enterprise Risk Management (ERM).

         Identify the components of the COSO ERM Executive Summary.

         Identify what has changed in the COSO Framework.

         Identify an Enterprise Risk Management implementation strategy.

         Identify the role of the board of directors, management and internal auditor’s in Enterprise Risk Management (ERM).

         II.          ERM Essentials

         Identify the four essentials of ERM.

         Internal Environment

         Identify the impact the internal environment has on the enterprise risk management process.

       III.          Risk Identification and Assessment

         Identify the components required when setting objectives for risk identification.

         Identify the methodologies and techniques that are most effective during risk identification and risk assessment.

         Apply the components of risk assessment and risk identification to various situations.

       IV.          Risk Responses

         Identify the primary types of risk responses.

         V.          Risk Monitoring

         Identify techniques and tools used for risk monitoring.

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