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Over the years Enterprise Risk management (ERM) has had a number of definitions. One such definition from the society of Risk Managers is “a strategic business discipline that supports the achievement of an organization’s objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio” This course is designed to give participants exposure to dealing with various enterprise risk management scenarios such as cyber security threats and poor controllership practices. The course reviews standard operating procedures in enterprise risk management and offers participants practice in assessing and dealing with risk management concerns. A heavy focus in the course is on case studies and analysis of real life situations. What might seem as an ideal solution for one institution may not work at another. Effective enterprise risk management needs to be tailored to the needs of the specific organization.
Course Objectives
By the end of the course, the participants will be able to:
- Identify events and circumstances that involve an organizational risk
- Assess the likelihood of a risk playing out and severity of that risk
- Determine a response strategy to mitigate the risk
- Monitor the risk control process and recommend additional corrective action as needed
Suggested Prerequisites:
- (Recommended but not required) Risk Management in Financial Institutions – A Foundational Approach
Program Level: Foundational
Advance Preparation: None
Computers and Financial Calculators: N/A
Recommended CPE Credits: 7