CONDUCTING RISK & OPPORTUNITY IDENTIFICATION AND ASSESSMENTS

• Comprehensive Risk Management: The training course advocates for an integrated Enterprise Risk Management (ERM) framework, encompassing strategic, operational, compliance, and business continuity risks. It stresses aligning risk management with organizational governance, strategy, and culture.
• Proactive Risk Identification: Early and continuous identification of existing and emerging risks across all levels of the organization is emphasized. Various tools and methods, including PESTLE analysis, SWOT analysis, scenario planning, and risk workshops, are recommended.
• Structured Risk Assessment: The training course provides detailed guidance on assessing risks based on likelihood and impact, using tools like heat maps and risk registers for prioritization. It also differentiates between inherent and residual risk.
• Effective Risk Response: Developing and implementing tailored response strategies, including risk mitigation, avoidance, transfer, and acceptance, is crucial. This involves clearly defined roles, responsibilities, resources, and communication plans.
• Importance of Culture and Maturity: Building a risk-aware culture and continually improving the maturity of risk management processes are essential for success. This involves open communication, shared understanding, and proactive risk identification.
• Transparency and Assurance: The training course highlights the importance of transparent risk disclosure to stakeholders and obtaining assurance on the effectiveness of risk management processes through internal audit and management reporting.

• New and Emerging Risks: The course discusses the importance of identifying and assessing new and emerging risks.
• Opportunity identification: The course discusses the how to identify opportunities, thus covering the ‘up-side’ of risk.
• Standard Risk Libraries and Structured Reviews: Use of standard risk libraries and structured reviews for identifying and assessing operational risks is covered.
• Risk Rating tables and Risk Tolerance Levels: The course explains, with examples, the use of risk rating tables based on likelihood and impact descriptors. It also demonstrates of application of risk tolerance levels to determine acceptable risk thresholds.
• Application of KRIs: The course covers how tracking of performance of KRIs can be used in risk identification and assessment.

Who this course is for:

• Enterprise risk management professionals or students studying towards the profession
• Executive management and board of directors when conducting or evaluating organisational risk profiles and plans
• General managers, financial managers, IT risk managers, IT managers, operations managers, and project managers
• Other professionals like Compliance Managers, Business Continuity Management professionals, Assurance providers, etc.
• Entrepreneurs and small business owners who want to learn how to identify and manage risks in their business.