This two-day workshop is aimed at middle and senior management levels and will show delegates the principles of ERM in an interactive way. Delegates will learn its significance, limitations, purpose and value to the business. It will cover the set-up, implementation, operation, management and exceptional issues and will reveal how this important corporate governance tool can be used to manage the risk profile across a firm. At its basic level, ERM is the process of applying risk management to all the risks a firm faces and arranging them into one single report.
In any group there are tactical and strategic risk takers. The strategic risk takers – the executive, directors and senior managers, devise the business strategy and agree that certain risks can and must be taken, whereas others are to be expressly avoided. This strategy is communicated through the organisation down to junior staff who will implement it. To facilitate top management to monitor this implementation at all levels, a robust system of checks and balances needs to be set in place. This is the role of ERM.
The workshop consists of lecture-style presentations of two case studies, each relating to the set up and then the management of an ERM system. This will be punctuated with relevant role plays to broaden the understanding of challenges faced by senior management in each of the two phases.