Whatever is the business, managing risk is critical for its survival. Risk is a fact of business life. You cannot avoid risk altogether, but you can keep it under control, you can mitigate it and you can prepare for it in case it is around the corner.
This course is about how to address risk issues, anticipate and deal with risks at a comprehensive level.
• What Business Continuity Entails
o Customer-triggered risk circumstances
o Competition-triggered risk circumstances
o Technology-triggered risk circumstances
o Capital-triggered risk circumstances
o Government-triggered risk circumstances
• Risk Definition
o Operational risks
o Financial risks
o Compliance risks
o Market risks
o Reputation risks
• Risk management objectives
o Avoid losses
o Take appropriate risks for appropriate returns
o Reduce business volatility.
• Risk management framework
o Clear risk management strategy that aligns with business strategy
o Clear risk assessment process
o Information monitoring.
• Risk Management System (ISO 90002000)
o General requirements
o Risk management planning
o Documentation requirements
o Risk records and their control
o Responsibility, authority and communication process
o Risk review processes
• Risk Management Infrastructure
• Work Environment for Risk Assurance
• Stakeholders focus
• Corporate governance responsibilities.
• Adequacy of management and control of critical business risks
• Risk Auditing and Internal Control Processes
• Existence of Risk Audit Committee with clear objective
• Code of Business Conduct as a part of employee contract of employment:
o Conflicts of interest
o Collaborating with Competition / Protecting the business
o Use of company resources
o Interpersonal relationship
o Contingent Liabilities
• Flow of Risk Reporting
• Critical Business Risk Indicators
• 3R – Risk Response Readiness
• Loss Events Analysis and Management
• Risk Data Gathering and Management
• Risk Assessment and Control
• Corporate Governance and Integrity of Financial Statements
• Risk Audit Procedure
o Planning the audit
o Conducting the audit
o Reporting – gap analysis
• Insurance Coverage and Assets Integrity
• Risk Reviews
o Preventive actions
o Corrective actions
• Actuaries – Insuring Risks.
Registration: 8.30 – 9.00 a.m.
Class Session: 9.00 a.m. – 4.00 p.m.