Certified Enterprise Risk Specialist
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English
Intermediate to Advanced
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Course Overview
We all now agree that the world as we know it has changed forever. The implications of Covid-19 will remain for many years to come altering our professional and personal lives in so many ways.
Covid-19 will not only result in industry disruptions but also will disrupt many professions as well. Risk Management represents one of the key professions to be impacted by the virus, as our entire mindset that was completely anchored towards “Severity”, “Likelihood”, “Impact” and “Prioritization” has now been completely altered.
Organizations need to consider as to whether they need to be prepared for the least likelihood of outcomes as much as to the highest likelihood of outcomes. Debatable but rationalizations worth considering.
Based on the above, we anticipate that risk management will gradually rise on the Corporate Board Agenda and will now have a more engaged and progressive seat at the table.
This training program has been tailored to ensure todays Risk Managers are able to adapt with the challenges of tomorrow. The below details key topics that will be addressed.
Covid-19 will not only result in industry disruptions but also will disrupt many professions as well. Risk Management represents one of the key professions to be impacted by the virus, as our entire mindset that was completely anchored towards “Severity”, “Likelihood”, “Impact” and “Prioritization” has now been completely altered.
Organizations need to consider as to whether they need to be prepared for the least likelihood of outcomes as much as to the highest likelihood of outcomes. Debatable but rationalizations worth considering.
Based on the above, we anticipate that risk management will gradually rise on the Corporate Board Agenda and will now have a more engaged and progressive seat at the table.
This training program has been tailored to ensure todays Risk Managers are able to adapt with the challenges of tomorrow. The below details key topics that will be addressed.
Key Takeaways
1
Obtain a detailed understanding of the different components and principles pertaining to the COSO ERM Aligning Risk with Strategy & Performance and the COSO Internal Control – Integrated Framework
2
Obtain further information regarding the ISO 31000:2018 framework and understand the difference as compared to the related COSO framework.
3
Leveraging PESTEL Analysis to obtain a sound understanding of the organizations environment.
4
Understanding the different types of risk identification methodologies.
5
Thinking “Root Cause” when developing risk mitigation plans.
6
Learning to focus on automated controls as a solid path to sound risk mitigation.
7
Learn about specific areas that we are failing to enable with effective internal controls.
8
Learn more about Fraud Risks including anti-fraud controls.
International Academy of Business and Financial Management
The International Academy of Business and Financial Management™ is one of the world’s fastest growing professional association with more than 200,000 members, associates and affiliates in 145 countries. IABFM™ hosts and organizes certification training worldwide and offers exclusive board designations to candidates who meet the highest professional standards and assessment criteria. The IABFM is credited by the American National Standards Institute (ANSI) the International Standards setting authority.
Course Outline
Part 1
Introduction to Risk Management
→ Current State of Risk Management
→ Different Risk Management Frameworks
→ Organizational Culture & Risk Management
→ The Risk Management Maturity Model
→ The Risk Management Road Map
→ The Chief Risk Officer – A Change Agent
→ Different Risk Management Frameworks
→ Organizational Culture & Risk Management
→ The Risk Management Maturity Model
→ The Risk Management Road Map
→ The Chief Risk Officer – A Change Agent
Corporate Governance& Risk Management
→ The Three Lines of Defense
→ The Role of the Board in Risk Management
→ The Board Risk Management Committee
→ Authority & Accountability
→ Tone at the Top and Code of Conduct
→ The Role of the Board in Risk Management
→ The Board Risk Management Committee
→ Authority & Accountability
→ Tone at the Top and Code of Conduct
Part 2
COSO ERM – Aligning Risk with Strategy & Performance
→ Governance & Culture
• Exercises Board Risk Oversight
• Establishes Operating Structures
• Defines Desired Culture
• Demonstrates Commitment to Core Values
• Attracts, Develops and Retails Capable Individuals
→ Strategy & Objective Setting
• Analyzes Business Context
• Defines Risk Appetite
• Evaluates Alternative Strategies
• Formulates Business Objectives
→ Performance
• Identifies Risk
• Assesses Severity of Risk
• Prioritizes Risk
• Implements Risk Responses
• Develops Portfolio View
→ Review & Revision
• Assesses Substantial Change
• Reviews Risk & Performance
• Purses Improvement in Enterprise Risk Management
→ Information, Communication & Reporting
• Leverages Information & Technology
• Communicates Risk Information
• Reports on Risk, Culture & Performance
• Exercises Board Risk Oversight
• Establishes Operating Structures
• Defines Desired Culture
• Demonstrates Commitment to Core Values
• Attracts, Develops and Retails Capable Individuals
→ Strategy & Objective Setting
• Analyzes Business Context
• Defines Risk Appetite
• Evaluates Alternative Strategies
• Formulates Business Objectives
→ Performance
• Identifies Risk
• Assesses Severity of Risk
• Prioritizes Risk
• Implements Risk Responses
• Develops Portfolio View
→ Review & Revision
• Assesses Substantial Change
• Reviews Risk & Performance
• Purses Improvement in Enterprise Risk Management
→ Information, Communication & Reporting
• Leverages Information & Technology
• Communicates Risk Information
• Reports on Risk, Culture & Performance
Part 3
COSO Internal Control – Integrated Framework
→ Control Environment
• Demonstrates commitment to integrity and ethical values
• Exercises oversight responsibility
• Establishes structure, authority, and responsibility
• Demonstrates commitment to competence
• Enforces accountability.
→ Risk Assessment
• Specifies suitable objectives
• Identifies and analyzes risk
• Assesses fraud risk
• Identifies and analyzes significant change
→ Control Activities
• Selects and develops control activities
• Selects and develops general controls over technology
• Deploys control activities through policies and procedures
→ Information & Communication
• Uses relevant information
• Communicates Internally
• Communicates externally
• Demonstrates commitment to integrity and ethical values
• Exercises oversight responsibility
• Establishes structure, authority, and responsibility
• Demonstrates commitment to competence
• Enforces accountability.
→ Risk Assessment
• Specifies suitable objectives
• Identifies and analyzes risk
• Assesses fraud risk
• Identifies and analyzes significant change
→ Control Activities
• Selects and develops control activities
• Selects and develops general controls over technology
• Deploys control activities through policies and procedures
→ Information & Communication
• Uses relevant information
• Communicates Internally
• Communicates externally
Part 4
ISO 31000: 2018
→ Principles
• Value Creation & Protection
– Continual Information
– Integrated
– Structured & Comprehensive
– Customized
– Inclusive
– Dynamic
– Best Available Information
– Human & Cultural Factors
→ Process
• Scope, Context , Criteria
• Risk Assessment
– Risk Identification
– Risk Analysis
– Risk Evaluation
• Risk Treatment
• Recording & Reporting
• Communication & Consultation
• Monitoring & Review
→ Framework
• Leadership & Commitment
• Integration
• Design
• Implementation
• Evaluation
• Improvement
→ Compliance Risk Management
→ Defining Compliance Risks
→ Applying the COSO ERM Framework to Compliance Risk Management
→ Conducting Compliance Risk Assessments
→ Identifying Compliance Risk Factors
→ Developing the Compliance Monitoring Program
→ Applying the ISO 19600:2018 to Compliance Risk Management
→ Fraud Risk Management
• Value Creation & Protection
– Continual Information
– Integrated
– Structured & Comprehensive
– Customized
– Inclusive
– Dynamic
– Best Available Information
– Human & Cultural Factors
→ Process
• Scope, Context , Criteria
• Risk Assessment
– Risk Identification
– Risk Analysis
– Risk Evaluation
• Risk Treatment
• Recording & Reporting
• Communication & Consultation
• Monitoring & Review
→ Framework
• Leadership & Commitment
• Integration
• Design
• Implementation
• Evaluation
• Improvement
→ Compliance Risk Management
→ Defining Compliance Risks
→ Applying the COSO ERM Framework to Compliance Risk Management
→ Conducting Compliance Risk Assessments
→ Identifying Compliance Risk Factors
→ Developing the Compliance Monitoring Program
→ Applying the ISO 19600:2018 to Compliance Risk Management
→ Fraud Risk Management
Part 5
Fraud Governance
→ Hiring Board Directors
→ Related Party Transactions
→ Conflicts of Interest
→ Code of Conduct
→ Performance Assessment
→ Embedding Fraud Risks in Strategy Development
→ Remuneration Policies
→ Fraud Risk – Risk Management, Internal Audit or Compliance?
→ Policies & Procedures
→ Culture
→ Whistleblowing
→ Systems & Automation
→ Know Your Employee (KYE)
→ Know Your Supplier (KYS)
→ Know Your Customer (KYC)
→ Employee Accountability
→ Performance Measurement
→ Related Party Transactions
→ Conflicts of Interest
→ Code of Conduct
→ Performance Assessment
→ Embedding Fraud Risks in Strategy Development
→ Remuneration Policies
→ Fraud Risk – Risk Management, Internal Audit or Compliance?
→ Policies & Procedures
→ Culture
→ Whistleblowing
→ Systems & Automation
→ Know Your Employee (KYE)
→ Know Your Supplier (KYS)
→ Know Your Customer (KYC)
→ Employee Accountability
→ Performance Measurement
Fraud Risk Assessment & Identification
→ Types of Fraud Risks
→ Analyzing Internal & External Factors
→ The Fraud Triangle – A critical tool to risk assessment & Identification
→ Data Analytics & Risk Identification
→ Documenting Fraud Risks
→ The Fraud Risk Register
→ Analyzing Internal & External Factors
→ The Fraud Triangle – A critical tool to risk assessment & Identification
→ Data Analytics & Risk Identification
→ Documenting Fraud Risks
→ The Fraud Risk Register
Anti Fraud Controls
→ Preventive & Detective Controls
→ Automated Vs. Manual Controls
→ Control Reports & Data Analysis
→ Technology & Related Controls
→ Automated Vs. Manual Controls
→ Control Reports & Data Analysis
→ Technology & Related Controls
Who Should Attend?
This highly practical and interactive course has been specifically designed for
The course has been designed to benefit anyone from any discipline from any industry (profit or not for profit) who has responsibility for the management of a function within an enterprise and who has some input into the risk framework of their company already or is about to embark on implementing a risk framework.
Their level could be Manager to Director, Front Office, Operations, Finance, IT, Audit, Risk, Compliance, HR, Facilities Management, External Relationships, Corporate Office, Consultants, Analysts...
Their level could be Manager to Director, Front Office, Operations, Finance, IT, Audit, Risk, Compliance, HR, Facilities Management, External Relationships, Corporate Office, Consultants, Analysts...
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FAQ
What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected].
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.
Reviews
- Review:IAMM Internal Audit Maturity ModelIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal KutbiCountry Learning & Development Manager at IKEA Saudi Arabia
- Review:Certified Professional in Quality and Patient SafetyDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. AlsahaanDir L&D, Talent Management at Mobily, Etihad Etisalat Company
- Review:Certified Professional in Quality and Patient SafetySince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad AlrajihVP, Business Winning at BAE Systems Saudi Development & Training
- Review:Certified Professional in Quality and Patient SafetyWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-SubaieSr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
