January 30, 2013 Leave a comment
Enterprise Risk Management
Seoul, South Korea, 4th – 6th March 2013
Taking and responding to risk, volatility and uncertainty is a normal part of business and investment. It is a part of infrastructure projects, utilities and essential services, customer base, supply chain, intellectual property, and the value of assets and products for example. Risk is not a negative; it is something to be managed.
Enterprise risk management (“ERM”) provides the organization with the structure, processes and tools to do this. It helps the organization to understand its entire aggregate of risks and with making informed decisions on tradeoffs between risk and reward. The payoff is in safer investment, better management decisions and better project outcomes, products and services.
This course bridges theory and practice, using real-life case studies and practical examples from the presenter’s own experience. These cases and examples encompass a range of industries, utilities and infrastructure projects, private and public sectors and cover strategic, financial and operational risk issues.
This course is designed for Directors, Board Committee members, executives, managers, audit and other personnel who are developing, or wish to improve, the risk management in their organization in Asia. The course bridges theory and practice, using real-life case studies and practical examples from the presenter’s own risk assessment and risk management experience with projects and organizations in Asia as well as elsewhere. These cases and examples encompass a range of industries, utilities and infrastructure projects, private and public sectors and cover strategic, financial and operational risk issues.
The aim of this course is to provide the knowledge, tools and processes to help organizations and business managers become more effective at anticipating, responding to and managing the variability and uncertainty inherent in business and markets. The course guides the participant step-by-step through a practical understanding and application of enterprise risk management with the aim of helping them to improve their organization’s attention to risk and risk control and getting added business value from that.
The course uses a workshop style, with extensive group interaction, discussion, exercises and review of cases aimed at covering key principles and providing tools and tips for effective ERM implementation. Participants are also encouraged to bring along their own ERM example, policy or issue for review if they wish.
Topics covered include:
- Introduction and overview of ERM
- Enterprise risks: the types of risks faced by organizations
- Key principles of risk and risk management
- Drivers for Enterprise Risk Management (ERM) – why manage risk?
- Enterprise Risk Management (ERM) in an organization: ERM structures, templates, tools and techniques
- Risk assessment and evaluation
- Risk mitigation and control
- Communicating risk, building stakeholder confidence
- Risk governance
- The modern business manager
The modern business need for good risk management:
Competition from low-cost overseas producers; reduction in export customer demand; rising costs and decreasing revenues; the effect of stricter regulatory or capital requirements on liquidity; tightening monetary policy and more stringent credit; the flow-on impact from a shock event like a tsunami, or costly disputation and litigation over intellectual property started by a competitor – these are all risks regularly faced by enterprises in countries like Korea, as well as elsewhere, markets and regulators. These risks can present problems but often also opportunities. Modern enterprise risk management provides the concepts, principles and tools for ensuring your organization is best placed to handle such issues and events. It helps the organization to understand its entire aggregate of risks and balance risk and potential reward. It helps to ensure business resilience in the face of downturn or loss, and helps with prudent decisions to exploit business opportunity and advantage. The payoff is in safer investment, better management decisions, improved compliance and performance.
Learning outcomes and course “takeaways”:
Course participants will gain understanding of the key principles of risk and risk management as it applies to enterprise and business activity. They will get an understanding of the application of ERM as a result of discussion with the presenter and other workshop participants; by review of case studies and examples, and by doing workshop group exercises.
These exercises will typically be undertaken in workshop syndicate groups of 3-4 persons and vary in duration from around 20 minutes to 1 hour, plus whole group discussion. Sample (suggested) answers to all exercises will be given and discussed.
In addition, a number of examples will be given by the presenter throughout the course for workshop consideration and discussion.
The “takeaway” training materials consist of presentation slides and a course manual with workshop exercises and sample answers. The materials include case studies and examples covering a range of ERM circumstances and summarizing the real-life solutions that were adopted in each case plus templates for risk policies, risk profiling, risk controls and risk reports.
For full agenda, please email us your detail contact information to email@example.com. Please indicate subject title “Enterprise Risk Management“.