Mastering Risk: A Strategic Approach to Governance and Resilience

Introduction:

In today's business environment, managing uncertainty and leveraging opportunities are crucial for success. This Mastering Risk: A Strategic Approach to Governance and Resilience course equips participants with the skills to handle risk management, enhance operational resilience, and support organizational growth strategies. By understanding and applying tools for managing financial, technological, strategic, and human risks, participants will learn to transform challenges into opportunities and mitigate potential risks effectively. The course covers risk governance, operational resilience, and corporate governance, emphasizing risk indicators, risk management integration, and internal controls.

Objectives:

At the end of this Mastering Risk: A Strategic Approach to Governance and Resilience course, participants will be able to:

• Explain risk governance principles and integrate key risk indicators.
• Perform qualitative and quantitative risk analysis.
• Implement risk control measures and conduct comprehensive risk reviews.
• Understand and apply the Three Lines of Defense model, including documentation and reporting.
• Utilize project risk management techniques.
• Foster a risk-aware culture and communicate a risk vision.
• Integrate risk management practices using web-based tools.
• Enhance reliability through failure prevention and maintenance strategies.
• Evaluate corporate governance practices and adapt to evolving standards.
• Implement effective internal control procedures in dynamic environments.

Training Methodology:

• Interactive Lectures
• Group Discussions
• Case Studies
• Simulations & Role-Playing
• Scenario Analysis
• Workshops
• Presentation of Web-Based Tools

Course Outline:

Unit 1: Risk Governance

• Risk management frameworks and controls
• Key Risk Indicators (KRI) and their integration
• Qualitative vs. quantitative risk assessment
• Risk management execution and actions
• Risk review and management support
• Three Lines of Defense model
• Risk oversight, documentation, and reporting
• Project risk management and approaches

Unit 2: Implementing Operational Risk Management

• Overcoming barriers to risk management
• Effective communication and embedding risk management vision
• Cultivating a risk management culture
• Risk management guidelines and business continuity
• Revitalizing risk management systems

Unit 3: Risk Management Models

• Risk Management Information Systems
• Institutionalizing risk management practices
• Managing day-to-day and strategic risks
• Building an operational risk management plan

Unit 4: Technology of Reliability

• Classification and causes of failures
• Failure prevention and reliability approaches
• Maintenance and inspection activities
• Calculating reliability and designing for reliability
• Protective systems and Safety Integrity Levels (SIL)

Unit 5: Risk Management in Corporate Governance

• Corporate social responsibility and risk
• Minimizing risks and creating value
• Risk assessment in strategic alliances
• Chief Risk Officer (CRO) roles and varied risk management
• Managing risks in joint ventures, alliances, and expansions

Unit 6: Corporate Governance System

• Definition and significance of corporate governance
• Influence of governing body factors
• Stakeholders and governance models
• Comparison of 1-Tier vs. 2-Tier board systems
• Key practices and new directions in corporate governance

Unit 7: Administrative Control Framework

• Treating internal control as a positive activity
• COSO framework and control measures
• Responsibility and accountability
• Application of procedures and policies

Unit 8: Threats to Internal Control

• Economic changes and control environment review
• Information security and technology protection
• Risk management in system development projects
• Communication management and control efficiency
• Updating internal control policies and procedures