Course Details

Objective

By the end of the course, participants will be able to understand

• Understand the principles and frameworks of enterprise risk management (ERM).
• Learn how to identify and assess risks across various business functions.
• Develop the ability to create and implement effective risk mitigation strategies.
• Gain insights into risk governance, compliance, and regulatory requirements.
• Understand how to integrate risk management into strategic decision-making and corporate culture.
• Learn how to monitor, report, and review risks to ensure ongoing risk management effectiveness.
• Achieve the knowledge and skills necessary to obtain the Certified Enterprise Risk Manager (CERM) certification.

Content

Day 1: Introduction to Enterprise Risk Management (ERM)

• Overview of Enterprise Risk Management: Key concepts and importance.
• The risk management process: Identification, assessment, response, and monitoring.
• ERM frameworks: COSO ERM, ISO 31000, and other global standards.
• The role of risk management in organizational strategy and decision-making.
• Risk governance: Understanding roles, responsibilities, and risk culture.
• Aligning ERM with business objectives and corporate goals.

Day 2: Risk Identification and Assessment

• Methods for identifying risks: SWOT analysis, risk registers, workshops, and interviews.
• Categorizing risks: Strategic, operational, financial, and compliance risks.
• Qualitative vs. quantitative risk assessment techniques.
• Risk assessment tools: Risk matrices, heat maps, and scoring systems.
• Risk assessment in the context of organizational functions: Finance, operations, IT, HR, etc.

Day 3: Risk Mitigation Strategies and Response

• Risk response strategies: Avoidance, reduction, transfer, and acceptance.
• Developing action plans and risk response options.
• The role of controls and preventive measures in mitigating risks.
• Designing risk mitigation strategies that align with business priorities.
• Integrating risk response into day-to-day operations and decision-making processes.

Day 4: Risk Monitoring, Reporting, and Compliance

• Monitoring risks: Setting up risk indicators and early warning systems.
• Tools and techniques for tracking risk status and progress.
• The importance of continuous risk review and reassessment.
• Reporting risk to senior management, boards, and regulators.
• Legal and regulatory frameworks influencing risk management (e.g., SOX, GDPR, Basel III).
• Risk audits and assurance processes: Ensuring compliance with risk management policies.

Day 5: Integrating Risk Management into Organizational Culture and Strategy

• Creating a risk-aware culture: Encouraging risk management at all levels of the organization.
• Risk-based decision-making: Making informed decisions in uncertain environments.
• The role of leadership in driving risk management initiatives.
• Preparing for the Certified Enterprise Risk Manager (CERM) exam: Key exam topics and review.
• Final Q&A and review session: Summarizing the key takeaways and preparing for certification.

NOTE:

Pre-& Post Tests will be conducted.

Case Studies, Group Exercises, Group Discussions, Last Day reviews, and assessments will be carried out.

Methodology

A highly interactive combination of lectures and discussion sessions will be managed to maximize the amount and quality of information and knowledge transfer. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. You will also be encouraged to raise your own questions and to share in the development of the right answers using your own analysis and experiences.  Tests of multiple-choice type will be made available on daily basis to examine the effectiveness of delivering the course.

Very useful Course Materials will be given.

• 30% Lectures
• 30% Workshops and work presentation
• 20% Group Work& Practical Exercises
• 20% Videos& General Discussions