Enterprise Risk Management (ERM)

In today’s fast-evolving business landscape, risks are becoming increasingly complex and interconnected. Organizations that proactively identify, assess, and manage these risks not only protect their assets but also unlock strategic opportunities and sustain competitive advantage. This masterclass on Enterprise Risk Management (ERM) equips participants with cutting-edge knowledge and practical skills to implement an integrated ERM framework aligned with global standards such as COSO and ISO 31000. Delegates will learn to embed risk management into organizational culture and decision-making processes, ensuring resilience and sustainable success in an uncertain world.

Overview

Target Audience

This masterclass is designed for:

• Senior executives and board members responsible for risk oversight

• Risk managers and compliance professionals

• Internal auditors and control specialists

• Operational and business managers involved in risk management

• Consultants and advisors specializing in risk and governance

• Professionals seeking to deepen their understanding of ERM frameworks and practices

Detailed Course Schedule

Day 1: Foundations of Enterprise Risk Management

• Session 1: Understanding Risk and the Risk Management Process

  • Concept of Risk and its organizational context

  • Overview of the Risk Management Process

  • Taxonomy of Risks: Operational, Credit, Market, Strategic, Reputational, IT, Legal

• Session 2: Introduction to ERM and COSO Framework

  • Defining ERM within COSO Integrated Risk Management Framework

  • Organizational applications and benefits of ERM

• Session 3: Case Study Analysis

  • Analyzing a Case Study to incorporate knowledge received

• Session 4: The Rationale, Role, and Ownership of ERM

  • Why implement ERM? Value proposition and business impact

  • ERM lifecycle overview

  • Roles, responsibilities, and ownership of ERM within organizations

• Session 5: ERM Frameworks and Implementation Strategies

  • Overview of other risk management frameworks

  • Introduction to ISO 31000 Risk Management Framework

  • Practical steps for ERM implementation and evaluation timelines

• Session 6: Case Study Review

  • Group discussion of the Case Study provided

Day 2: Advanced ERM Practices and Building a Risk-Driven Organization

• Session 7: ERM Tools, Risk Appetite, and Function Development

  • Practical ERM tools and techniques: Brainstorming, KRIs, RCSA, SWOT, Scenario Analysis

  • Defining risk appetite, tolerance, and capacity

  • Building an effective ERM function: objectives, skills, and capability development

• Session 8: Case Study Exploration

  • Analyzing a Case Study to incorporate knowledge received

• Session 9: Enhancing the Risk Assessment Process

  • Strategies to improve risk assessments

  • The importance of risk assessment in ERM success

• Session 10: Risk Treatment, Infrastructure, and ERM Maturity

  • Available risk responses and treatments

  • Risk management infrastructure essentials

  • Risk maturity models and embedding ERM into the organizational culture

  • Selecting ERM software aligned with process design

  • Building a compelling business case for ERM

  • Evaluating ERM effectiveness and success factors

• Session 11: Case Study and Interactive Discussion

  • Group discussion of the Case Study provided

• Session 12: Masterclass Conclusion and Q&A

  • Q&A session for any questions of the Masterclass

KYR - KNOW YOUR RISK, Consulting | Training | Advisory - CPD Certified Course - 2 Days Masterclass

Key Takeaways

By the end of this program, delegates will be able to:

• Understand the comprehensive scope of ERM within an organizational context

• Apply the COSO ERM and ISO 31000 frameworks effectively

• Identify and assess key enterprise risks using practical tools and techniques

• Develop and implement risk appetite statements and risk tolerance thresholds

• Build and mature an ERM function aligned with organizational strategy

• Integrate risk management practices into daily business operations for sustained value

• Leverage case studies to translate theory into actionable risk management solutions

By attending this course, delegates will be able to:

• Identify what ERM is in the context of the COSO ERM Integrated Risk Management Framework

• Comprehend the overview and application of the ISO 31000 Framework

• Select appropriate ERM software to fit organizational needs

• Understand the fundamentals of Risk Management Capability and Maturity Models

• Examine ERM risk management tools and techniques including Brainstorming, KRIs, RCSA, SWOT & Scenario Analysis

• Distinguish between risk appetite, risk tolerances, and risk capacity concepts

Key Learning Objectives