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Enterprise Risk Management

Overview

This course will help the learner to understand risk, and how to apply Enterprise Risk Management (ERM). The learner will be provided with an overview of ERM objectives and requirements, and will address risk assessment and response. After completing this program, the learner will be able to:

  • Utilize specific evaluation activities and processes and methodologies.
  • Communicate effectively while addressing, assessing, and responding to risk.
  • Understand the importance of objective settings, internal environments, and the application of ERM.

Contents

T1. Understanding Risk: This topic will define risk and familiarize the learner with the typical sources of risk, including credit, operational, and market risk.

T2. Enterprise Risk Management: This topic will define Enterprise Risk Management (ERM) and will familiarize the learner with risk management function and ERM processes, including enhancing risk response decisions, reducing operational loss, and seizing opportunities.

T3. Purpose of ERM: This topic will familiarize the learner with the uses of Enterprise Risk Management, which include setting strategies, viewing activities and risks, and defining risk appetite.

T4. Internal Environment: This topic will familiarize the learner with the role and elements of the internal environment and how it interacts with and relates to the Board of Directors, integrity and ethical values, and organization structure.

T5. Objective Setting: This topic will familiarize the learner with the importance of objective setting, some of these objectives include strategic, operations, and reporting objectives.

T6. Event Identification: This topic will define events and will familiarize the learner with internal and external factors that influence events, in addition to examples of event identification techniques.

T7. Risk Assessment: This topic will familiarize the learner with risk assessment, including estimating likelihood and impact, assessment techniques, and benchmarking.

T8. Risk Response: This topic will familiarize the learner with risk response categories, how to evaluate the cost and benefit of responses, and how to evaluate alternative responses.

T9. Control Activities: This topic will define control activities and will familiarize the learner with the types of control activities, including top-level reviews, information processing, and physical controls.

T10. Information and Communication: This topic will familiarize the learner with how information is used and the various types, which include financial, operating, and competition, in addition to exposing the learner to the importance of communication.

T11. Monitoring: This topic will define and stress the importance of ERM monitoring for the learner by familiarizing him/her with specific evaluation activities and processes and methodologies.

Please note that any legal and compliance references in this course will pertain to US legislation.