Core Risk Skills for Auditors and Facilitators
Friday, March 22, 2013 from 10:00 AM to 1:00 PM (PDT)
Palo Alto, CA
This online training will provide detailed information on core risk management skills and how to oversee and control the risk management process. It will help the attendees create and maintain an effective risk management process at their organization.
Subsequent to global financial crisis in 2008, regulatory authorities across the globe have called on companies to significantly increase their attention on improving and maintaining an effective risk management process.
The traditional approach to Enterprise Risk Management (ERM) has not generated the benefits claimed by ERM proponents. This webinar will discuss why traditional approaches to ERM and Internal audit are not well equipped to meet new board risk oversight expectations. It will also cover how risk assessment methods have evolved over the past 20 years globally and what regulators now expect boards to do in the area of risk oversight and governance. It will help attendees learn the core elements of effective risk assessment and management including demand driven or objective centric approach.
This session will discuss the following topics relating to risk assessment and management:
· What specifically do senior management and boards need to demonstrate to regulators, investors, credit rating agencies, customers, and others. What’s the role of internal auditors and ERM facilitators?
· Evolution of generally accepted risk management frameworks and terminology, including COSO ERM 2004, the new COSO Internal Control Integrated Framework expected in exposure draft form October 2011, ISO 31000, RIMS risk management maturity, IRM risk frameworks, and more.
· Why thousands of ERM initiatives around the world have failed
· Understanding the mechanics of the different approaches to assess and report on risk – pros and cons of each approach
· Why “Objective-Centric” risk management and assurance provides maximum business benefits and avoids fatal flaws of many traditional ERM approaches.
· Defining an ERM universe – practical methods to create an “OBJECTIVES REGISTER”
· Why the sudden increase in focus on defining and monitoring “risk appetite
· Step 1- often overlooked – before commencing a risk assessment identify clear end result business objectives to be assessed.
· Practical methods to identify key elements of the “internal and external risk context”.
· Practical methods to identify and assess risk, including “black swan risks” - low probability/massive impact risks. (NOTE: brain storming alone often fails to identify key risks)
· Creating a consolidated report on residual risk status for your board
When & Where
At ComplianceOnline, we are focused on :
- Enhancing global compliance, creating a world where quality and compliance professionals, regulators, and government agencies come together to help the world comply with the intent and the spirit of laws, policies and mandates, ensuring continuous improvement in global operations, quality & safety.
- Making sure that we are responsible corporate citizens helping our constituents build a more responsible enterprise, one which operates with high quality , under a code of ethics, and with process discipline to ensure greater shareholder returns.
- Keeping things simple and straight forward , so that we all can indeed improve the quality of our processes, our work, our businesses and enhance compliance globally.
- Being inclusive, giving the process experts ( & novices! ), compliance professionals, quality champions, and regulatory agencies a voice so that all of us can contribute and make a difference.