Enterprise-wide Risk Management
Theme: Discovering risk management beyond its traditional frontiers
The South African market has not been spared from the cyclical, downward economic meltdown emanating from the 2008 Global Financial Crisis. To stay in the competition game, companies (both public and private) must abandon the use of traditional approaches of “managing risk by silos” in favour of sound risk management strategies. Believe you me; enterprise-wide risk management is the optimal strategy of managing the risks posed by this robust economic climate.
This is a NQF level 6 course and the duration is 3 days.
Leaning Objectives
At the end of this intensive program successful learners must be in a position to:
- Make effective strategic decisions after a cautious inherent risks analysis.
- Appreciate why enterprise-wide risk management is becoming the standard.
- Design and implement risk management strategies their organisations.
- Explore the challenges, recommended solutions and status of risk management in South Africa.
Course Outline
- Introduction to risk management
1.1 Early corporate failures and the evolution of risk management.
1.2 The merits of risk management.
1.3 The relationship between risk management and corporate governance.
1.4 Limitations of risk management.
1.5 Risk management trends in South Africa.
- Risk management definitions, doctrines and models
1.1 Defining risk and Uncertainty
1.2 Definition of risk management
1.3 Types of risks
1.4 The risk-reward trade off model- “no pain no gain rule”
1.5 Risk magnitude and frequency relationship.
1.6 Risk perception.
- The risk management cycle
1.1 Identifying inherent business risks.
1.2 Measurement, profiling and prioritisation of identified risks
1.3 Risk planning, control and transfer
1.4 Risk Monitoring.
1.5 Risk communication and information systems.
- Enterprise-wide risk management
1.1 Defining enterprise-wide risk management.
1.2 The emergence of enterprise-wide risk management.
1.3 Components of enterprise-wide risk management.
1.4 Benefits of enterprise-wide risk management.
- The risk management environment
1.1 Legislation and laws.
1.2 King 11 code of practise.
1.3 Reporting and structures
1.4 The role of the Board of Directors, Auditors, and Risk Managers.
1.5 Risk management software technology.
- Design and implementation of a risk management Strategy
1.1 Defining the risk management strategy.
1.2 Responsibilities and roles of company employees.
1.3 The importance of the mission statement and organisations’ risk appetite.
1.4 Contents of the risk management programme.
1.5 Reviewing and amending a risk management programme.
1.6 Implementing the risk management plan
1.7 Sample risk management Strategy-Ipswich Borough Council
- Risk Management in South Africa- The critical issues
1.1 The tick-box conformance game.
1.2 The risk drivers.
1.3 Challenges in implementing sound risk management policies
1.4 Recommended solutions and future strategies.
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