New risks are arising from technological change, political uncertainty, cyber-crime and increasing drivers of intangible value. It is mandatory for organizations to be proactive in anticipating and managing risks. This approach requires organizations to build a risk awareness and management culture putting increased emphasis on compliance and governance. New approaches to enterprise risk management are emerging. Revisions to COSO and ISO31000 share the ambition to integrate risk management into all aspects of the organization’s activities and emphasize the importance of developing a risk culture that aligns with the organization’s values and ability to handle complexity. This course will address new approaches to enterprise risk management, including recent updates to COSO and ISO frameworks with focus on managing
Recognize the trends shaping risk and risk management. Identify new approaches to enterprise risk management. Describe revisions to recently updated ERM frameworks from COSO and ISO. Identify the importance of developing a robust risk culture. Determine how processes and procedures can be enhanced by using a value stream perspective for enterprise risk management. Apply key risk management tenets into an entity’s strategy and enterprise processes to preserve value.
Building a risk awareness and management culture. Cybersecurity/Cyber Terrorism and technology. Employee recruitment, development and retention. Loss of knowledge and reputation. Social media issues. Operational issues in risk management. COSO ERM framework revisions. ISO31000. Risk management, revisions. Useful tools and techniques in risk awareness and management. Risk management in strategy development. Whole-organization risk management integration.
Practitioners of any level who play a risk management role in entities of any size.
Familiarity with enterprise risk management concepts and best practices.