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Embedding Risk Management into the Corporate Culture

One-day workshop

Breaking Down the Barriers

• Why a positive approach to risk management is needed
• How effective risk management can deliver many benefits
• What is risk - is it fully understood?
• The need to design risk strategies and systems to suit the organization
• Why business risk management is receiving such publicity
• The dangers if you get it wrong
• Damage to reputation – the ultimate risk?
• Exercise 1 – the major risks to your organisation
• The Role of risk management within Corporate Governance
• Explanation of the AS/NZS 4360 standard – the internationally recognised risk management standard + COSO + IRM standards
• The need for a consistent risk process incorporating :-
• Financial considerations
• Strategic risk assessment
• Heath and Safety requirements
• HAZOP ( Hazard and Operability) guidelines
• The issues involved.

• The need to understand the organisation’s strategic objectives
• The need to ensure the risk process reflects these objectives
• The nature of risk in the key sectors
• Understanding the risk appetite
• Categories of Risk
• The Risk management framework
• Exercise 2 – analysing a disaster
• Risk Identification and Evaluation
• Exercise 3 – An exercise to allow you to see risk taking in action
• Approaches and techniques
• Surprises and risk
• Selling the benefits to management
• Risk and competitive advantage
• Risk workshops – the do’s & don’ts
• Monte Carlo simulations
• Bayesian networks – scenario planning
• The use of diagnostic questions and thought-provokers
• Sifting and clustering he risks
• Measuring the consequences and the likelihood of occurrence of each risk
• The use of risk matrices to prioritise the risks.

• Managing risk – the options
• How to assess risk mitigation
• Identification of risk exposures
• Critical evaluation of exposures
• Dealing with the exposures (the 4 Ts - terminate, tolerate, treat or transfer)
• Establishment of action plans.

• Linking corporate risks into the Strategic planning process
• Linking operational risks into organisational planning
• Risk owners – how to determine such personnel and enforce ownership
• Annual statements by risk owners
• Developing risk tracking
• Using the risk register as a decision skeleton
• Quarterly Board reporting to review progress in addressing the exposures
• Risk Management Committee reporting
• Half yearly evaluation of key risks to ensure new risks identified and included
• Reports for Senior Management - power point example will be shared

• Risk registers – the need to coordinate and link the output
• Flagging interdependencies – if one risk treatment is changed the other party or parties impacted need to be notified.
• Risk treatment analysis – how to determine the cost/ benefits of dealing with exposures / exploiting opportunities
• Risk management as a route to reducing bureaucracy
• How to use the risk process to break down the cultural barriers
• Making risk management second nature
• Keeping up the momentum
• Integrating incident management
• Integrating Business Continuity planning
• Integrating Health and Safety, HAZOP and SIL assessments
• Measuring the benefits
• Exercise 4 -Measuring the benefits
  SIL assessments
• Measuring the benefits
• Exercise 4 -Measuring the benefits

• Exercise 5 - An actual risk workshop – with your own risks
  Enabling you to appreciate all elements covered in a live situation

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