Risk Management - In-House Training - Business Risk Management Ltd

< Home > < In-House Taining > Risk Management

Risk Management

Below is a list of the Risk Management courses we provide most often in-house. Please click the link of the course you want more information on.

Business Risk Management Workshop

Embedding Risk Management

Reputational Risk Management

Strategic Risk Management

Business Risk Management Workshop

1.5 days

The ability to manage significant risks effectively is an increasingly critical success factor for all organisations, irrespective of the sector they represent. Badly informed or poorly executed risk management, on the other hand, can easily spell disaster (as recent high profile failures have demonstrated).
Any organisation that has encountered unwelcome surprises or unexpected events should realise that most were preventable. Such events will almost certainly have been caused by risks that were not fully understood, or the processes to mitigate those events being inadequate.
The key is to recognise that risk is not something that should be avoided - a risk is often an opportunity in disguise.
Even without Corporate Governance requirements regarding business risk management, most forward-looking organisations have recognised the need to develop a formal, comprehensive business risk management programme.

Who Should Attend?

Any executive or manager tasked with developing, implementing or facilitating a business risk programme or anyone tasked with providing assurance to senior management that the significant risks are being managed appropriately.

Topics Covered Include:

Overview of the key elements of a business risk programme (i.e. a process to allow organisations to identify, evaluate, mitigate and monitor their key risks and opportunities)
Explanation of the alternative risk identification methods
Practical demonstration of risk workshops
Explanation of the AUS/NZ global risk management standard
How to evaluate successfully the key risks identified
How to assess risk mitigation practices and identify exposures
How to deal with exposures
Opportunities for Internal Audit in the process
Translating key risks into the basis of the Internal Audit strategy and programme
Embedding the process into the business - to satisfy Corporate Governance requirements and meet business needs.

Course Outline

Day 1 -Identification of Major Business Risks

1. Breaking Down the Barriers

Why senior management often lack a full understanding of the risks in their business.
The role and responsibilities of Directors and line managers
Definition of business risk and its nuances
Designing strategies and systems to suit the organisation
Defining significance in relation to risk (in monetary and other terms)
Establishing a business risk programme - the steps to success.

2. Background

Why business risk management is receiving such publicity
High profile corporate failures and public embarrassments
Exercise - the major risks
The Corporate Governance debate
Explanation of the AS/NZS 4360 standard - the world's first risk management standard
Other potential legislation and regulation
The issues involved.

3. The Wider Business Agenda

The need to understand the organisation's strategic objectives
Developing a programme to reflect these objectives
Understanding the organisation's risk appetite
Categories of Risk
The Risk management framework
Syndicate Exercise - analysing a disaster
Risk management systems

4. Risk Identification and Evaluation

Team Exercise - Risk taking in action
Approaches and techniques
How to establish a risk workshop process
The benefits of facilitation and the characteristics required
The use of diagnostic questions and thought-provokers
The pros and cons of using data capture technology
How to identify, sift and group the risks
Measuring the consequences and the likelihood of occurrence of each risk
The use of risk matrices to prioritise the risks.

5. Interactive Risk Workshop

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

Day 2 - Evaluation of Mitigation Strategies, Identification of Exposures
and risk Monitoring

1. Assessment of Risk Mitigation

Managing risk - the options
Management evaluation of mitigation controls
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.

2. Interactive workshop - part 2

Risk mitigation and dealing with the exposures in practice

3. Options for Internal Audit Involvement

Pros and cons of Internal Audit facilitating the process
Risk-based auditing: explanation and options
Translation of the most significant risks into the basis of the audit programme
Monitoring of action plans and Audit Committee reporting
Evaluation and reporting of actual versus perceived controls
Determining which key risks are not readily auditable.4.

5. Embedding the Process

Ensuring compliance with governance requirements and adopting best practice
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
Integrating the programme into the overall Risk Agenda e.g. strategic planning, health, safety and environmental management, regulatory requirements, insurance procedures etc.

©Business Risk Management Ltd 2004

Embedding Risk Management

The ability to manage significant risks effectively is an increasingly critical success factor for all organisations, irrespective of the sector they represent. Badly informed or poorly executed risk management, on the other hand, can easily spell disaster (as recent high profile failures have demonstrated).
Any organisation that has encountered unwelcome surprises or unexpected events should realise that most were preventable. Such events will almost certainly have been caused by risks that were not fully understood, or the processes to mitigate those events being inadequate.
As each month passes the importance of risk and assurance increases, or so it would appear form the ever-increasing coverage being given to the subject.
The result is that risk management has been catapulted from being a useful tool to become the very pulse of the organisation and the yardstick by which its management is judged.
The key is to recognise that risk is not something that should be avoided – a risk is often an opportunity in disguise.
Even without Corporate Governance requirements regarding business risk management, most forward-looking organisations have recognised the need to develop a formal, comprehensive business risk management programme.

Who Should Attend?

This 3 day course will enable participants to :

Increase focus on and delivery of objectives;
Enhance understanding of risks and exposures faced
Enforce ownership of risks;
Build understanding of how risks are changing
Integration of risk management into systems and project based development, contracting and partnership arrangements;
Share effective working practices between managers and specialists;
Enhance management information relating to Corporate Governance
Identify over-managed risks and unnecessary controls

Topics Covered Include:

Overview of the key elements of a business risk programme (i.e. a process to allow organisations to identify, evaluate, mitigate and monitor their key risks and opportunities)
Explanation of the alternative risk identification methods
How to successfully evaluate the key risks identified
How to assess risk mitigation practices and identify exposures
How to deal with exposures
Practical demonstration of risk workshops
Why you need to embed the risk management process into the Corporate culture
Risk as the pulse of your organisation
Why Risk management is a real business enabler
Explanation of the key features of the various Standards (AUS/NZ, IRM/AIRMIC, COSO, BASEL etc)
How to cascade the process effectively
How to coordinate the efforts of the various assurance providers
Why the emerging risks may be the real threats
Opportunities for Internal Audit in the process

Course Outline

Day 1 - Identification of Major Business Risks

Breaking Down the Barriers

Why senior management often lack a full understanding of the risks in their business.
The role and responsibilities of Directors and line managers
Definition of business risk and its nuances
Designing strategies and systems to suit the organisation
Defining significance in relation to risk (in monetary and other terms)
Establishing a business risk programme - the steps to success.

Background

Why business risk management is receiving such publicity
High profile corporate failures and public embarrassments
Exercise 1 – the major risks in your organisation
The Corporate Governance debate
Explanation of the AS/NZS 4360 standard – the internationally recognised risk management standard + COSO + IRM standards
Other potential legislation and regulation
The issues involved.

The Wider Business Agenda

The need to understand the organisation’s strategic objectives
Developing a programme to reflect these objectives
Understanding the organisation’s risk appetite
Categories of Risk
The Risk management framework
Exercise 2 – analysing a real disaster
Risk management systems

Establishing An Embedded Risk Management Process

Why is risk such a hot topic?
Surprises and risk
Why financial risks are only the tip of the iceberg
The widening of the risk portfolio
The challenges- Basel, Governance, Non-Exec’s liabilities etc
The need to link risk management with strategic planning
New and emerging Risks- Reputation, Social, Environmental etc
Getting your Chief Executives support
Developing a risk strategy for your organisation
Establishing the business case
Selling the benefits to management
Risk and competitive advantage
Risk workshops – the do’s & don’ts

Risk Identification and Evaluation

Exercise 3 – An exercise to allow you to see risk taking in action
Approaches and techniques
How to establish a risk workshop process
The benefits of facilitation and the characteristics required
The use of diagnostic questions and thought-provokers
The pros and cons of using data capture technology
How to identify, sift and group the risks
Measuring the consequences and the likelihood of occurrence of each risk
The use of risk matrices to prioritise the risks.
Corporate Governance reporting requirements
Getting your Chief Executives support
Agreeing a common risk language
Developing a risk policy for your organisation
Selling the benefits to management

Day 2 – Practical Risk Evaluation and mitigation

Interactive Risk Workshop

Exercise 4 - An actual risk workshop – with your own risks
Enabling you to appreciate all elements covered in a live situation

Assessment of Risk Mitigation

Managing risk – the options
Management evaluation of mitigation controls
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.

Interactive workshop – part 2

Exercise 5 - Risk mitigation and dealing with the exposures in practice

Integrating The Output From Risk Workshops Into The Business Planning Process

Linking corporate risks into the Strategic planning process
Linking operational risks into service 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
Exercise 6 – Team exercise to enable you to appreciate the emerging risks

Day 3 – Embedding the Risk process

Reputation and how to manage it

The rise of reputation as the key risk
The increasing importance of a positive image – the need to be admired
Reputation – the value measure of the 21st century
Where does reputation come from?
How do you measure it?
The explosion of regulation and external assurance
The scrutiny dilemma (league tables etc) and the implications.
The relationship between vision, values, behaviour and reputation
Damage by association – partnering and alliances
Exercise 7 - how to judge reputation

Recording The Risk Environment

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
Coordinating assurance under the risk umbrella – a successful model will be shared
How to use the risk process to break down the cultural barriers
Making risk management second nature
Keeping up the momentum
Risk financing and how to introduce the disciplines
Integrating incident management
Business Continuity planning
Integrating Health and Safety, Insurance and claims etc
Measuring the benefits
Exercise 8 -Measuring the benefits

Options for Internal Audit Involvement

Pros and cons of Internal Audit facilitating the process
Risk-based auditing: explanation and options
Translation of the most significant risks into the basis of the audit programme
Monitoring of action plans and Audit Committee reporting
Evaluation and reporting of actual versus perceived controls
Determining which key risks are not readily auditable.

Cascading the process

Stakeholders interest in risk
Workshops for other management levels
How to measure the benefits
Risk awareness for staff
Sharing output with partners
Evaluating risks within these relationships
Risk indicators (KPI’s)
Auditing the Risk Management programme
How to Identify and reduce excessive controls
Feeding key risks up the organisation
Co-ordinating the whole process
Useful web sites and reference books
Managing stakeholder expectations
How to use the programme to change the culture in a positive way
Exercise 9 – The Bamboo pole – a fun way of putting all the issues covered in context

Reputational Risk Management

The management of reputation is not just another burden for over-stretched management. It is widely recognised as the core of modern management.

Organisations are increasingly being judged on their reputation and how they manage the contributory factors, including social responsibility, ethical standards, behaviour, communication etc.

The ever-increasing external scrutiny that organisations are experiencing, with the pressure to demonstrate positive Corporate Governance and satisfy stakeholders expectations directly impacts external reputation.

This course will provide you with all the practical tools and ideas you need to identify reputational threats and how to mitigate them.

The event will be presented by Phil Griffiths Managing Director of Business Risk Management Ltd.

The course will feature an interactive workshop, in two parts - the first to identify the reputational risks and the second part to discuss how well the risks are being mitigated, in practice and to discuss potential areas of exposure.

In this way, you will be able to go away from the day with a practical checklist and a schedule of risks and treatments.

You will also: -

Understand how to positively manage your reputation
Appreciate the link between social responsibility and positive reputation
Manage environmental expectations
Understand the need for effective crisis management
Be able to reduce the likelihood of high profile mistakes
Appreciate the importance of reputational damage via external relationship
Receive practical advice on managing the many threats
Have the opportunity to share experiences
Get a copy of a practical checklist for reviewing reputational risk

Who Should Attend?

Any executive who wishes to protect and indeed enhance the reputation of their organization or provide assurance to senior management that the reputational risks are being managed appropriately.

Course Outline

What Is Reputation?

Definitions
The rise of reputation as a key risk
The increasing importance of a positive image - the need to be admired
Reputation - the value measure of the 21st century
Creating value from intangible assets
Where does reputation come from?
How do you measure it?
The magnifying effect on reputation of business failures
The explosion of regulation and external assurance
The scrutiny dilemma and the implications.
The Court of public opinion
The growth of activism in society
The relationship between vision, values, behaviour and reputation
The link between organisational personality, identity and image
Moving reputation out of the PR arena and into the boardroom
Damage by association - partnering and alliances
Identifying Reputational Risks

Workshop Part 1

Identifying the reputational risks in your organization
Discussion of Delegates experiences

Ethics, Social Responsibility And Reputation

Triple bottom line reporting - economic, environmental and social
Corporate Social responsibility
Codes of conduct
Hot lines and whistle blowing
Business ethics training
Inclusion of ethics criteria in review of performance
Corporate killing and similar risks
The dangers of abusing leadership
Social responsibility s an agent for positive change and better performance - the halo effect

Reputation Risk Mitigation

Protecting the financial position from reputational damage
Standards of corporate governance
Record of accountability
Avoidance of loss
Alliances, partnerships and contracts
Fulfillment of promises
External evaluation
Top down management of reputation
Media management
Business Continuity
Crisis management strategy
Sharing of values
Treatment of staff
Attitudes of staff
Community and other stakeholder requirements
Environmentally responsible sources / treatments
Customer service
Management of complaints
Communication - internally and externally
Carrying out a vulnerability audit

Workshop Part 2

Mitigating the risks identified earlier and discussing possible areas of exposure
A checklist for reviewing reputational risk will be provided to all delegates
The checklist incorporates sections on: -
Financial performance
The Senior management role
Quality of Service provision
Treatment of staff
Social Responsibility
Customer Service
Information and Communication

Strategic Risk Management

Course Outline

Day 1 - Understanding Major Business Risks

Breaking Down the Barriers

Why senior management often lack a full understanding of the risks in their business.
The role and responsibilities of Directors and line the Board with respect to risk management
Definition of business risk and its nuances
Designing strategies and systems to suit the organization.
The key link between Corporate Governance and risk
Selling the benefits to Top Management
Defining significance in relation to risk (in monetary and other terms)
Establishing a strategic business risk programme - the steps to success.

Background

Why business risk management is receiving such publicity
High profile corporate failures and public embarrassments
Exercise 1 – the major risks in your organization
The Corporate Governance debate
Explanation of the AS/NZS 4360 standard – the internationally recognised risk management standard + COSO + IRM standards
Other potential legislation and regulation
The issues involved.

The Wider Business Agenda

The need to understand the organisation’s strategic objectives
Developing a programme to reflect these objectives
Understanding the organisation’s risk appetite
Categories of Risk
The Risk management framework
Exercise 2 – analysing a disaster
Risk management systems

Establishing An Embedded Risk Management Process

Why is risk such a hot topic?
Surprises and risk
Why financial risks are only the tip of the iceberg
The widening of the risk portfolio
The challenges- Basel, Governance, Non-Exec’s liabilities etc
The need to link risk management with strategic planning
New and emerging Risks- Reputation, Social, Environmental
Getting your Chief Executives support
Developing a risk strategy for your organisation
Establishing the business case
Selling the benefits to management
Risk and competitive advantage
Risk workshops – the do’s & don’ts
Exercise 3 – An exercise to allow you to appreciate risk taking in action

Day 2 – Practical Identification and Evaluation

Risk Identification and Evaluation

Approaches and techniques
How to establish a risk workshop process
The benefits of facilitation and the characteristics required
The use of diagnostic questions and thought-provokers
The pros and cons of using data capture technology
How to identify, sift and group the risks
Measuring the consequences and the likelihood of occurrence of each risk
The use of risk matrices to prioritise the risks.
Corporate Governance reporting requirements

Interactive Risk Workshop

Exercise 4 - An actual risk workshop – with your own risks
Enabling you to appreciate all elements covered in a live situation

Assessment of Risk Mitigation

Managing risk – the options
Management evaluation of mitigation controls
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.

Interactive workshop – part 2

Exercise 5 - Risk mitigation and dealing with the exposures in practice

Day 3 – Integrating the Risk Management process

Integrating The Output From Risk Workshops Into The Business Planning Process

Linking corporate risks into the Strategic planning process
Linking operational risks into service 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
Exercise 6 – Team exercise to enable you to appreciate the emerging risks

The Converging Roles of the Assurance Providers under the Risk Umbrella

The increasing emphasis on governance, assurance and control
How should the various assurance providers rise to the risk challenge?
The need to coordinate quality assurance, security, insurance and the health and safety functions in relation to risk management
The need to avoid duplication of effort
How to spot the gaps
Linking external auditors into the process
The need to coordinate risk reporting
Exercise 7 – How to coordinate assurance across your organisation

People and Process Risks

Key risk themes and how to deal with them
- Failure to manage projects effectively
- Loss of IT systems
- Failure of partners or inability to establish effective partnering
- Loss of key personnel
- Hacking/breach of system security.
- Failure to innovate
- Poor prioritisation of systems development
- Loss of morale / stress
- Too much data – insufficient information
- E-Commerce – the key risks and steps to take to mitigate them
- IT security – how to evaluate effectiveness and influence change

Day 4 – Reputation Risk

What Is Reputation?

Definitions
The rise of reputation as a key risk
The increasing importance of a positive image – the need to be admired
Reputation – the value measure of the 21st century
Creating value from intangible assets
Where does reputation come from?
How do you measure it?
The magnifying effect on reputation of business failures
The explosion of regulation and external assurance
Exercise 8 - how to judge reputation
The Court of public opinion
The relationship between vision, values, behaviour and reputation
The link between organisational personality, identity and image
Moving reputation out of the PR arena and into the boardroom
Damage by association – partnering and alliances
Identifying Reputational Risks
Exercise 9 Reputation Workshop Part 1
Discussion of Delegates experiences

Ethics, Social Responsibility And Reputation

Corporate Social responsibility
Codes of conduct
Business ethics training
Inclusion of ethics criteria in review of performance
The dangers of abusing leadership
Social responsibility as an agent for positive change and better performance – the halo effect

Reputation Risk Mitigation

Protecting the financial position from reputational damage
Standards of corporate governance
Record of accountability
Avoidance of loss
Alliances, partnerships and contracts
Fulfilment of promises
External evaluation
Top down management of reputation
Media management
Business Continuity
Crisis management strategy
Sharing of values
Treatment of staff
Attitudes of staff
Community and other stakeholder requirements
Environmentally responsible sources / treatments
Customer service
Management of complaints
Communication – internally and externally
Carrying out a vulnerability audit
Exercise 10 Workshop Part 2
Mitigating the risks identified earlier and discussing possible areas of exposure
A checklist for reviewing reputational risk will be provided to all delegates
The checklist incorporates sections on: -
- Financial performance
- The Senior management role
- Quality of Service provision
- Treatment of staff
- Social Responsibility
- Customer Service
- Information and Communication

Day 5 – Reporting and Cascading

Recording The Risk Environment

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
Risk financing and how to introduce the disciplines
Integrating incident management
Business Continuity planning
Integrating Health and Safety, Insurance and claims etc
Measuring the benefits
Exercise 11 -Measuring the benefits

Cascading the process

Stakeholders interest in risk
Workshops for other management levels
How to measure the benefits
Risk awareness for staff
Exercise 12 – Establishing a risk awareness training programme
Sharing output with partners
Evaluating risks within these relationships
Risk indicators (KPI’s)
Auditing the Risk Management programme
How to Identify and reduce excessive controls
Feeding key risks up the organisation
Coordinating the whole process
Useful web sites and reference books
Managing stakeholder expectations
How to use the programme to change the culture in a positive way
Exercise 13 – The Puzzle -a final exercise to put all the issues covered in context