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Enterprise Risk Management MasterClass

How to use the risk process to break down the barriers?

Phil GriffithsManaging DirectorBusiness Risk Management Ltd

Online MasterClass 14-15 May, 2020

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Online MasterClass

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Learning objectives:

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• Applyapracticalapproachtoenterpriseriskmanagement• Updateyourriskprocesstoenableanenterprise–wide

approachtorisk• Useoneapproachacrossthebusiness–toreducesilos• Engagealllevelsofmanagementintheriskagenda

[email protected] +36 1 848 0515

14-15 May, 2020Online MasterClass

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CPECrEdits

AftErComPlEtingthisCoUrsEyoUwillbEAblEto

whoshoUldAttEnd?

Participants can earn up to 10 CPE credits in the Management Advisory Services field of study.Business Risk Management Ltd is registered with the National Asso-ciation of State Boards of Accountancy (NASBA) as a sponsor of continuing profes-sional education on the National Registry of CPE Sponsors.

• riskmanagers

• managersresponsiblefortheriskmanagementfunctionorprocess

• internalAuditorsandauditmanagers

• otherassuranceprofessionalssuchasthoseinComplianceandQAfunctionswho

arebeingaskedtoreviewtheriskprocess

• financemanagersandinsuranceprofessionalswhoneedknowledgeofthewider

approachtoriskmanagement

•

• sellthebenefitseffectively

• Applythedifferenttechniquesforidentifyingrisks

• measuretherisksinasimpleway

• implementeffectiveriskmitigation

• linkriskmanagementintothebusinessplanningprocess

• deliverpracticaltechniquesfortheassessmentofpeople,processand

reputationrisks

• recordtheriskprocessefficiently

• Engagestakeholders

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Phil Griffiths

Philgriffiths isfounderandCEoofbusinessriskmanagementltd,ACharteredAccountantandanAssociate

of the instituteof internalAuditors,hehasover30years’ experience in riskmanagement, internal audit and

fraudpreventionaspractitioner,professionaladviser,facilitatorandtrainer.Philisregardedasoneoftheworld’s

leadingexpertsinthefieldsofstrategicriskmanagementandinternalAudit.

Phil is recognized as an accomplished and charismatic facilitator, trainer and lecturer having advised many

renownedorganizations,coordinatedtop-leveleventsandaddressednationalandinternationalconferenceson

awide rangeof critical business topics.hehas led riskmanagementprograms formanyhundredsofprivate

andpublicsectorclientsincluding,developmentofriskstrategiesandfacilitatedworkshopsplusassistancewith

implementation.

hehasdevelopedanddeliveredregulartrainingcoursesonriskmanagement,fraudpreventionandinvestigation

andbestpracticeinternalauditacrosstheworld.

heisarenownedauthor–hisrecentbook‘riskbasedAuditing’isaninternationalbestseller.

Phil haspublished research intomanyaspectsof internal audit and riskmanagementbestpractice, including

“strategicriskmanagement” “theneed toCo-ordinateAssuranceProviders” and “theExpectationsofChief

ExecutivestowardsinternalAuditanditsfuture”.

Managing DirectorBusiness Risk Management Ltd




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day1Understanding enterprise risk ManageMent (erM)

END End of day 1

Break 10:00

Break 11:15

Break14.30

Break12:30

15:30

09:00 13:15

10:15

14:45

11:30

The key aspects of ERM• Explanation of ERM and it’s benefits • The current economic crisis and how ERM can provide a

lifeline• The role and responsibilities of directors and senior

management with respect to ERM• ERM roles• ERM tips• Strategic, financial and operational risk.• The key link between corporate governance and risk• Selling the benefits to top management• How to quantify and measure risk – and why the

approach followed by most organizations, may be misleading

Risk Identification and Evaluation• Approaches and techniques• How to establish a risk workshop process• Risk workshops – the do’s & don’ts• How to identify, sift and group the risks• Measuring the consequences and the likelihood of

occurrence of each risk• The use of risk matrices to prioritise the risks.• The need for effective facilitation • Facilitation skills • Risk as an opportunity• The use of diagnostic questions and thought-

provokers• The pros and cons of using data capture technology• Other methods of risk identificationExercise 1 – 30 questions about risk management

Exercise 3 - The key risks

Exercise 4 - Risk Mitigation and Dealing with the Exposures

Exercise 2 – Analysing a Disaster

The link between ERM and strategic objectives• The need to understand the organisation’s

strategic objectives• Developing a programme to reflect these objectives• Risk appetite – the least understood aspect of risk?• External risk statements – principal risk factors • Examples of risk appetite statements will be

provided• Categories of risk• Establishing a risk management framework

Assessment of Risk Mitigation• Controls or mitigation• Ensuring risks are managed effectively• How to assess risk mitigation• The need for diligence and challenge • Identification of risk exposures• Dealing with the exposures (the 4 Ts - terminate,

tolerate, treat or transfer)• Recording the risks – risk registers or risk maps• Risk registers – do’s and don’ts• The need to keep the process as simple as possible • Establishment of action plans• Allocation of risk owners

Establishing an Embedded Risk Management Process

• Risk management framework guide• Surprises and risk• Why financial risks are only the tip of the

iceberg• The widening of the risk portfolio• Risk cultures• IRM paper on risk culture assessment• The challenges• New and emerging risks- reputation, social,

environmental • Updating the risk strategy for your organisation• Establishing the business case• Selling the benefits to management• Exercise 3 – Risk Taking In Action• The need for risk champions• Risk and competitive advantage




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day 2deaLing with the risks

END End of day 2

Break10:00

Break11:15

Break14:15

Break12:3009:00

13:15

11:30

10:15 14:30

Linking the output from risk workshops into the business planning process

• Linking corporate risks with the strategic planning process

• Linking operational risks into service planning• Risk owners – how to determine such personnel and

enforce ownership• Annual statements by risk owners• Developing risk tracking• Using the risk register as a decision skeleton• Quarterly board reporting to review progress in

addressing the exposures• Risk management committee reporting• Half yearly evaluation of key risks to ensure new risks

identified and included

Recording the Risk Environment• The need to coordinate and link the output• Flagging interdependencies – if one risk

treatment is changed the other party or parties impacted need to be notified

• Risk treatment analysis – how to determine the cost/benefits of dealing with exposures / exploiting opportunities

• Risk management as a route to reducing bureaucracy

• How to use the risk process to break down the barriers

• Reports for senior management

Exercise 5 –The emerging risks

Exercise 4 Interactive Risk Workshop

Exercise 8 Measuring the Benefits

Exercise 7 - How to Judge Reputation

Exercise 6 – People and System risks

People and Process Risks• Key risk themes and how to deal with them

Reputation risk• Definitions• The rise of reputation as a key risk• The increasing importance of a positive image – the

need to be admired• Where does reputation come from? • How do you measure it?• The magnifying effect on reputation of business

failures• The explosion of regulation and external assurance• Damage by association – partnering and alliances• Identifying reputational risks • A checklist for reviewing reputational risk will be

provided • The checklist incorporates sections on:

• Failure to manage projects effectively• Loss of IT systems• Failure of partners or inability to establish effective

partnering• Loss of key personnel• Hacking/breach of system security• Failure to innovate• Poor prioritisation of systems development• Loss of morale / stress• Too much data – insufficient information• E-Commerce – the key risks and steps to take to

mitigate them• IT security – how to evaluate effectiveness and

influence change

• Financial performance• The senior management role• Quality of service provision• Treatment of staff• Social responsibility• Customer service

Cascading the Process• Making risk management second nature • Keeping up the momentum• Risk financing and how to introduce the disciplines • Integrating health and safety, insurance and claims etc• Risk awareness for staff• Sharing output with partners • Evaluating risks within these relationships• Risk indicators (KRI’s)• Auditing the risk management programme• The Internal Audit role in the risk management process

– guidance and advice• Feeding key risks up the organisation• Coordinating the whole process• Useful web sites and reference books• Measuring the benefits

15:30




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HUMAN RESOURCES EVENTS • Execu� ve Assistant MasterClass

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About GLC

Global Leading Conferences (GLC) is an industry leader in the field of business intelligence. We provide interactive & impactful business platforms and networking opportuni-ties for senior level executives by bringing them together for B2B Conferences, Global Summits, Training & Workshops. Being customer focused and having our client’s priorities at the forefront, are amongst our core values and is of high importance to the way we operate our business.Our passion for customer satisfaction and results, drive us to work with industry experts closely - who fully understand their peers interests and day-to-day challenges - in order to deliver the most impactful events. We are specialized in industries such as; Pharmaceutical, Banking & Finance, Energy, Oil & Gas, IT & Communication, Sales & Marketing, Law and Human Resources.Our commitment is to deliver the latest information to our clients, while maintaining highest quality and standards. By attending GLC events your company will be able to apply advanced strategies to your operations, gain the latest know-how’s and benchmark yourself higher against the competition while enjoying a 5 star environment.


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