summitRISK Enterprise Risk Management Practical Class based on ISO 31000:2018

What is the relationship between risk management and innovation? Is your risk management agenda adding value to your enterprise or it is a cost

What is the relationship between risk management and innovation? Is your risk management agenda adding value to your enterprise or it is a cost driver? Are your staff embracing risk management or they see it as a distraction? Are your regulators happy with your risk maturity?

We have all answers for you. Enroll on our executive risk management practical class. Or call us to customize the training to your needs.

This full-day training course delivers practical information on managing risk within your organization’s regulatory and governance frameworks. You will get practical skills to apply immediately to improve your governance and resilience processes during these tough Coronavirus times. This training features a CASE STUDY to give you hands-on skills to master risk from start to end.

Have you ever drove a car while it rained heavily? Or have you ever been drove in the co-driver’s seat during a heavy downpour? You know how visibility is affected by rain making it next to impossible to drive unless the car has working wind visors and air conditioning. Otherwise, visibility is limited, and it is dangerous to drive.  That is what happens when you implement a risk management agenda without adequate preparation and training.

If you are a board member, a member of the senior management team, or a staff, you are the driver of the enterprise risk management agenda. You need effective wind visors and AC to drive the risk management agenda effectively and be prepared for any uncertainties. This enterprise risk management training will empower you with the skills to win amidst heavy rains, uncertainties, and business traps that could threaten your going concern.

Co-delivered by an ISO 31000:2018 risk management standard expert, Mustapha B Mugisa, aka Mr strategy, you will learn about the standard and be able to create a strong risk management maturity at your organization. From risk policy formulation, risk assessment process and procedures, to board approval, implementation, reporting, and ongoing monitoring. You will learn it all.

This course provides you with:

  • an overview on establishing a risk management framework within your organization – you will get a sample ERM framework document in an editable word version to ease your process of customization.
  • Practical risk assessment and management processes including risk reporting best practices; based on the ISO 31000:2018 so that you learn how to put it into action
  • an understanding of why a risk-aware culture is vital in achieving Organisational objectives- you will learn the difference between unstructured risk management process and a structured ISO 31000 risk management process to be able to unlearn the bad habits of the unstructured risk process.
  • the knowledge and skills to assess the efficacy of risk management systems and processes within an organization and see a demo of a risk automation tool to save money and costs
  • the confidence to manage organizational risks effectively and to plan for future risk.
  • Understand the key terms and principles of risk management for effective risk implementation across the board.

What you will learn

Is your enterprise risk management framework clear? Do you sometimes think that risk management in your organization is not practical and relevant?

Our enterprise risk management training is a practical class that answers all the questions about risk implementation and empowers you and your team to prepare for any uncertainty. You will learn about the following:

  1. Developing a risk management framework – why a framework? How to develop it? What are the contents of an ERM framework according to ISO 31000:2018?
    1. Approaches to managing risk?
    2. Categorization of risks – what informs risk categorization and classification? Why categorize risks anyway?
    3. Policy framework. What are your risk policy and risk appetite articulation? Why do you need a policy? Who implements the policy? How do you implement the policy? What is included in the risk policy statement?
    4. What is risk appetite? Who defines it and how? How do you apply risk appetite?
  2. Developing a risk culture for risk maturity
    1. What is risk culture assessment?
    2. How do you implement risk culture and empower risk owners to be on top of their game?
    3. How do you conduct risk maturity assessments?
    4. What makes a risk ‘immature’ organizations?
    5. What is a risk ‘mature’ organization? How do you know one when you see one? What do you need to do to become a risk mature organization?
    6. How to assess risk maturity and how to close the gaps
  3. The Enterprise risk management process explained
    1. An integrated approach to risk as per ISO 31000:2018 – a step by step guide from risk context
    2. Risk aggregation and common risk language
    3. Identifying entity-level risks using both structured approach and unstructured approach.
    4. Enterprise risk management infrastructure -how to set it up
  4. ERM and strategy: how to integrate the two for improved governance
    1. Benefits of integrating risk management with strategy
    2. Adding value with ERM – how risk contributes to innovation
    3. The expanding universe of risk – what is the risk universe?
  5. Implementing risk management enterprise-wide
    1. ERM preliminary steps
    2. Challenges in implementing ERM
  6. Risk governance and accountability
    1. Who is who in risk management?
    2. What are the roles of the chief risk officer and internal auditor?
    3. What is the role of the board in risk management?
    4. What is the role of executive management in ERM
    5. Case study
  7. Risk automation and risk reporting
    1. How to automate the risk management process
    2. How BCP/DR integrates into the risk management framework
    3. Effective risk reports that add value
  8. Templates and tools
    1. Review of free tools and templates for ERM worth the US $10,000 you get all these free of charge.
    2. And many more including editable Word, PowerPoint, and MS Excel templates to ease your enterprise risk management agenda. The risk templates shall include PowerPoint slide decks to help the CEO and or the risk manager conduct risk management awareness sessions, a risk register template, and a free ERM policy framework to guide implementation.

For a call on how to customize the risk management training, contact Mustapha B. Mugisa, on strategy[at]summitcl[dot]com.

To take a risk quiz, click here

To test your current risk awareness maturity, click here

To contact us, for a talk on the Role of the Board and EXCO in risk management, click here.

Copyright Mustapha B Mugisa, 2021 All rights reserved

Leave a Reply

Your email address will not be published. Required fields are marked *