Course Overview
This advanced ERM training program is designed to equip senior professionals with the strategic, analytical, and leadership capabilities needed to build and sustain an effective enterprise risk management framework. It focuses on integrating ERM into governance and decision-making, understanding emerging risks, and leveraging ERM for competitive advantage. The course emphasizes real-world case studies, risk modeling, and practical frameworks used across industries.
Course Objectives
By the end of this course, participants will be able to:
- Understand and apply advanced ERM frameworks (e.g., COSO ERM, ISO 31000).
- Evaluate and manage strategic, operational, financial, and emerging risks.
- Integrate ERM into corporate governance, performance management, and strategic planning.
- Apply risk appetite and tolerance in decision-making processes.
- Use advanced risk assessment and quantification techniques, including Monte Carlo simulation and stress testing.
- Develop risk reporting dashboards and communicate risk effectively to stakeholders.
- Implement Key Risk Indicators (KRIs) and link them to business objectives.
- Understand the role of ERM in ESG, cybersecurity, and business continuity.
Who Should Attend
This course is ideal for:
- Chief Risk Officers (CROs)
- Senior Risk Managers and Analysts
- Compliance Officers
- Internal Auditors
- Strategy and Governance Professionals
- Executive Leaders (CEO, CFO, COO)
- Risk Committee Members and Board Members
- Consultants involved in risk, governance, or regulatory compliance
Course Outline
Module 1: Introduction to Advanced ERM Concepts
- Evolution of Enterprise Risk Management
- Key standards and frameworks (COSO ERM 2017, ISO 31000)
- Strategic importance of ERM in today’s business environment
Module 2: Governance, Culture, and Risk Leadership
- Role of leadership in embedding risk culture
- Governance structures and oversight responsibilities
- Ethics, tone at the top, and accountability
Module 3: Risk Identification and Taxonomy
- Risk taxonomy development
- Strategic, operational, financial, compliance, and reputational risks
- Identifying emerging and systemic risks
Module 4: Risk Assessment and Quantification
- Qualitative vs. quantitative risk assessment
- Advanced risk analysis tools (e.g., bow-tie analysis, heat maps)
- Monte Carlo simulations and scenario analysis
- Risk prioritization and mapping
Module 5: Risk Appetite, Tolerance, and Strategy Integration
- Defining and applying risk appetite statements
- Linking risk appetite to strategic objectives
- Balancing risk and performance
Module 6: Risk Response and Control Frameworks
- Risk mitigation strategies and control design
- Cost-benefit analysis of controls
- Risk transfer, avoidance, acceptance, and sharing
Module 7: Key Risk Indicators (KRIs) and Risk Monitoring
- Developing and using KRIs
- Leading vs. lagging indicators
- Risk monitoring dashboards and automation
Module 8: Risk Reporting and Communication
- Board-level and executive reporting
- Risk communication strategies and frameworks
- Using data visualization for risk insights
Module 9: Integrating ERM into Business Processes
- Embedding ERM into strategic planning, budgeting, and project management
- Linking ERM to performance management (KPIs)
- Role of digital transformation in ERM
Module 10: Special Topics in Advanced ERM
- ERM in ESG and sustainability risk
- Cyber risk management
- Business continuity and crisis management
- Regulatory compliance and risk-based supervision
Module 11: Case Studies and Group Exercises
- Real-world risk failures and lessons learned
- ERM maturity assessment workshop
- Developing an ERM implementation roadmap
Module 12: Final Assessment and Wrap-Up
- ERM maturity model benchmarking
- Action planning and implementation toolkit
- Course summary and Q&A