Effective Risk Management Oversight for Board Members

Course Introduction

Participants in this programme will acquire knowledge of the practical and critical success areas in the implementation of effective enterprise risk management oversight. The workshop will provide opportunities for practical exercises in risk management activities and will deal with implementation failures. You will also learn how to avoid pitfalls when implementing risk management, as well as improving existing risk management practices in your organisation.

Board members and senior management tasked with establishing, implementing, facilitating or improving current risk management activities and ensuring that significant risks are being managed appropriately, should attend this course. 

After completing this course you will be able to:

• Understand the role of the Board/Governing Body in risk oversight.
• Understand the role of risk management in corporate governance.
• Understand the entity’s risk philosophy and concur with the entity’s risk appetite.
• Know the extent to which management has established effective enterprise risk management of the organization.
• Review the entity’s portfolio of risk and consider it against the entity’s risk appetite.
• Be apprised of the most significant risks and whether management is responding appropriately.

Daily Topics

Introduction to Governance and compliance

• Introduction
• GRC Market Segmentation
• Common GRC Focus Areas

Overview of Governance Guidelines, Frameworks and Standards

• The UK corporate Governance Code
• Board Effectiveness (BE) guidance (Federal Reserve)
• Islamic Financial Services Board
• Best Practices for a Board’s Role in Risk Oversight

The Role of the Board Committees

• Risk management architecture
• Audit Committee
• Risk Committee

Risk fundamentals

What is risk?

• The relationship between corporate governance and risk
• Strategic risks and disruption
• Strengthening ERM for strategic advantage
• Risk governance by the governing body
• Role of risk in strategy selection

Risk frameworks

• Effective enterprise risk management frameworks
• The ISO 31000 risk standard 31000:2018
• Understanding COSO integrated framework 2017
• BIS frameworks and risk

Risk appetite and tolerance

• Obtaining ERM mandate and commitment: the role of the Board
• Risk management philosophy and risk appetite

 Risk maturity and culture

• Determining risk capacity, appetite and tolerance
• The importance of risk culture.

For Registration & more information please contact

NAYEL Training Centre 

T: +971 4 379 7245 | M: +971 50 249 6876 WhatsApp +971 50 249 6876

Email [email protected]