Enterprise Risk Management (ERM)

Service Description

Day 1: Introduction to Enterprise Risk Management (ERM) • Importance of ERM in the banking & financial industry • Key concepts & principles of ERM • ERM frameworks & standards (e.g., COSO, ISO 31000) • ERM framework components (e.g., risk appetite, risk culture) • Risk identification & assessment processes • Establishing risk tolerance & risk appetite statements • Role of the board of directors in ERM • Integrating ERM into Organisational structures & processes • ERM communication & reporting Day 2: Risk Assessment & Measurement • Techniques for identifying & categorising risks • Internal & external sources of risk information • Understanding emerging & strategic risks • Quantitative & qualitative risk assessment methods • Scenario analysis & stress testing • Prioritising risks based on likelihood & impact • Risk measurement techniques (e.g. value at risk, expected loss) • Establishing Key Risk Indicators (KRIs) for monitoring • Using KRIs to detect & mitigate risks Day 3: Risk Mitigation & Control • Developing risk response strategies (avoid, accept, transfer, mitigate) • Implementing risk treatment plans & controls • Evaluating & selecting risk financing options • Internal control frameworks (e.g. COSO Internal Control Framework) • Control design & implementation for risk mitigation • Assessing control effectiveness & continuous improvement • Managing operational risks in banking & financial institutions • Risk management frameworks for operational risk • Operational risk assessment & control measures Day 4: ERM Implementation & Monitoring • Implementing ERM processes & practices • Integrating ERM with strategic planning & decision-making • Overcoming challenges in ERM implementation • Establishing risk monitoring & reporting mechanisms • Key risk indicators (KRIs) & risk dashboards • Reporting to stakeholders & regulatory authorities • Conducting ERM reviews & assessments • Evaluating ERM program effectiveness • Enhancing ERM maturity & continuous improvement Day 5: Advanced Topics in ERM & Emerging Trends • Building a strong risk culture within the Organisation • Behavioural aspects of risk management • Aligning risk incentives & accountability • Identifying & managing strategic risks • Linking risk management with strategic planning • Balancing risk & reward in strategic decision-making • ERM in the era of digitalisation & emerging technologies • Managing cyber risks and data breaches • ERM for environmental, social, & governance (ESG) factors

Contact Details

• Ability House, 121 Brooker Road, Waltham Abbey, UK

  +442081453355

  info@ermandcompliance.com