Managing Risk Across Your Organisation

Course Overview

Modern organisations are characterised by risk. Combined with ever increasing regulatory and governance requirements such as the Combined Code on Corporate Governance, Basel II, FSA, Sarbanes-Oxley and HM Treasury, It is now essential for organisations to correctly manage their risk exposure. Management of Risk (M_o_R) frameworks are a critical factor in achieving this objective. This one day practical course will provide you with a sound understanding of risk and how to manage risk more effectively at all levels within your organisation.

The course is based on current industry best practice and it is also compatible with, and based upon, the UK Government's OGC (Office of Government Commerce) Management of Risk: Guidance for Practitioners (of which Insight Consulting was the primary author). The practitioner's guide forms the basis for the full risk management examinations and certification run by the OGC. A copy of the guide will be provided free to you.

Audience

This course will benefit those responsible for critical business strategies, processes, programmes, projects or operational services including business managers, programme and project managers, operational managers, professional risk managers, auditors and regulators.

Skills Gained

On completion of the course, you will be able to:

• Describe risk management and be able to talk confidently about risk management issues with colleagues
• Undertake an assessment of your organisation's current status in relation to risk
• Establish a risk management framework to manage risks throughout the organisation
• Understand how to communicate and report risk related information

Course Outline

Introduction to the management of risk

• What is risk?
• An explanation of the need to manage risks
• The Turnbull Report and what is required
• Operational risk
• Risk, regulations and corporate governance
• Understanding risk hierarchies and risk ownership
• Budgeting for risk management
• How to sell the necessity to manage risk to the key stakeholders across all parts of an organisation
• Undertaking a risk health check

Establishing a risk management framework

• Understanding the risk process
• Risk management tools & techniques
• The risk identification process
• Identifying typical categories of risk
• Assigning risk ownership
• Identifying probable risk owners
• Establishing a risk register
• Assessing risk likelihood and impact
• Setting risk tolerances

Monitoring and reporting risks

• Implementing and monitoring risk responses
• Communicating risk related information
• Reporting the risk register
• Achieving assurance