Enterprise Risk Management (ERM) - MIS Training

The Global Leader In
Audit and Information Security Training
London
Summer
Schools
2012
Enterprise
Risk
Management
(ERM)
Implementing, embedding and
enhancing enterprise risk
management: Practical guide to
optimising the role of internal
auditors and risk managers
A Hands-On Guide
to Effective ERM
3 DAY COURSE:
11 - 13 July 2012
London
Course Director
Jenny Rayner
SAVE 10%
Attend with
Managing the Internal Audit
Department
for a full week of training
Jenny has over fifteen years experience in
risk management and internal audit as
part of a wide-ranging thirty year business
career
■ Understand Enterprise Risk Management (ERM) and how to implement it
■ Know how to assess the risk management capability and maturity of your business
■ Be able to stimulate improvement at each stage of the risk management process
■ Learn how to balance both threats and opportunities to maximise value to the business
■ Discover how to raise risk awareness and embed risk management thinking and practice
■ Explore what is meant by ‘risk appetite’ and how to determine and communicate it
■ Clarify the boundaries between the roles of internal audit and risk management
■ Understand new and emerging risks – and how you can contribute
■ Gain insights into emerging best practice on managing and reporting risks
■ Network and share your experiences with other senior audit and risk professionals
Save up to 50%
with In-House Training
www.mistieurope.com/inhouse
Register Online at:
www.mistieurope.com/training
Quoting Code:
IA120705-W

Enterprise
Risk
Management
(ERM)
Implementing, embedding and
enhancing enterprise risk management:
Practical guide to optimising the role of
internal auditors and risk managers
Course focus and features
Many businesses have introduced risk management
processes to meet growing corporate governance
requirements. But what if the risk management exists in
name only so the box can be ticked? What if the board and
senior management team are not committed to it? What if
the business risk management process is ineffective or
incomplete? What if the audit committee does not
understand its critical role on business risk? How can
internal auditors and risk managers help to embed an
effective enterprise-wide risk management process and
contribute to its continuous improvement?
This highly interactive three-day course explores how internal
auditors and risk managers can act as a catalyst for good risk
management and can assist in embedding it and improving its
effectiveness. Participants will learn how they can add value at
each stage of the risk management process – from risk
identification to monitoring and reporting – without, in internal
audit’s case, compromising objectivity and independence.
The course offers numerous practical tools, techniques and top
tips for successful Enterprise Risk Management, including
demystifying risk appetite, managing threats and opportunities in
parallel, innovative use of control risk self-assessment (CRSA) and
the latest trends in risk reporting. The implications for internal
auditors and risk managers of new and emerging risk areas such
as governance, ethics, corporate responsibility, reputation, supply
chain, outsourcing and project risks will also be explored.
Course Director
Jenny Rayner
Jenny Rayner is an independent consultant and trainer
specialising in risk management, corporate governance and
internal audit. Jenny works with directors, senior managers,
internal audit departments and risk managers in the private
and not-for-profit sectors to help them embrace best practice
in governance and assurance and to manage risk positively to
improve business performance and enhance reputation.
Prior to this, Jenny’s wide-ranging career spanned over 20
years with ICI, in a variety of sales, marketing, purchasing,
logistics, supply chain and general business management
roles, latterly, as a Chief Internal Auditor with ICI.
Jenny writes and lectures extensively on internal auditing, risk
management, corporate governance, corporate responsibility
and reputation. Jenny was Executive Editor of Gee
Publishing’s Business Risk Management handbook and was
Joint Editor of Gee’s Corporate Social Responsibility Monitor.
She is author of the study Risky Business: towards best
practice in managing reputation risk (2001, Institute of
Business Ethics). Her book, Managing Reputational Risk:
curbing threats, leveraging opportunities, was published by
John Wiley in July 2003. She is also a contributor to
QFinance – The Ultimate Resource (2010, Bloomsbury).
Jenny is a member of the Institute of Risk Management and
for three years chaired the NW District Committee of the
Institute of Internal Auditors - UK and Ireland. Jenny also
chairs the Group Audit and Assurance Committee of a UK
housing association, is Deputy Chair on its Board and is a
member of its Governance and Remuneration Committee.
Participants will learn through a combination of presentations,
case studies, practical exercises and discussions and will take
away sample documents, checklists and worked examples.
During the seminar attendees will have the opportunity to develop
a tailored action plan for their own business.
Whether you have been charged with establishing an ERM
framework for your organisation, want to increase the
effectiveness of the existing risk management process or wish to
benchmark your business against emerging best practice, this is
the course for you.
Who Should Attend
Chief Audit Executives, Internal Audit and Risk Management
Heads, Risk Managers, Supervisors, Lead Auditors and Directors
from private, public and not-for-profit sectors.
Note: Highly experienced risk managers in businesses with wellestablished
risk management systems may find the course
content insufficiently advanced to be of major benefit.
Prerequisite: None
Advanced Preparation: None
Training Type: Group-Live
Learning Level: Intermediate
Price: GBP £2,145
CPEs: 22
Telephone:
+44 (0)20 7779 8454
Email:
training@mistieurope.com

Day One:
Building a solid
foundation
Wednesday 11th July
Introduction and course objectives
Risk management unraveled
• Risk, risk management and Enterprise Risk
Management (ERM) defined
• The corporate governance and regulatory context
• Lessons from the credit crunch
• Investor and stakeholder pressures
• Review of risk management standards and
guidelines (including COSO ERM and the new
British and ISO standards)
The core components of an ERM system
• The risk management process: key steps
• Risk language, risk registers and assessment
methodology
Sample documents
• Defining, establishing and communicating risk
appetite
Exercise
• ERM hierarchy and reporting framework
• Risk management strategy and policy
Sample documents
Roles and responsibilities for ERM
• The board and risk leadership
• Audit and risk committees
Sample terms of reference
• Senior management
• Employees
• Key business partners
• The risk management function
Internal audit’s role in ERM
• Implications of the IIA’s position statements
• Internal audit’s and risk management’s respective
roles
Case study
• Maintaining independence and objectivity
• The ‘dos’ and ‘don’ts’
• Risk-based internal auditing
Day Two:
Promoting and
enhancing enterprise
risk management
Thursday 12th July
Determining what needs to be done
• Understanding risk management maturity and
effectiveness
• Assessing the risk maturity of your business
Exercise
• The implications for internal auditors and risk
managers
• Articulating your risk management vision – and
the steps to achieve it
Identifying business risks
• Risk categorization
Sample risk categories
• Risk identification: what works and what doesn’t
• Getting at strategic risks
PESTLE analysis
• Handling threats and opportunities
• Articulating risks to elicit action
• Improving risk identification
Assessing and prioritising risks
• importance of inherent and residual risk
• Risk assessment methodologies for threats and
opportunities
• Applying risk appetite
Exercise
• Multiple risk appetites and risk appetite
hierarchies
• Risk quantification
• Improving risk assessment
Responding to risks
• Response options: the 4Ts (Tolerate, Treat,
Transfer, Terminate)
• Establishing an appropriate response
• Black swans and risk resilience
• Ownership and action planning
• Enhancing risk responses
Monitoring, reporting and assurance
• The value of monitoring, reporting and assurance
• Who should do what?
Exercise
• Assurance mapping: establishing the best
source/type of assurance
• Clarifying reporting lines
• Reporting within the business
Sample reporting formats
• The latest developments in external risk disclosure
Case study
Hints and hazards
• Common ERM weaknesses
• Top tips for successful ERM implementation
Day Three:
Maintaining momentum
and embedding ERM
Friday 13th July
New and emerging risk management
challenges
• Refreshing the business risk profile
• Governance, strategic and ethics risks
• Corporate responsibility and stakeholder risks
• Reputational risks
Case study
• Supply chain and outsourcing risks
• Project and programme risks
• IT risk hotspots
The business case for ERM: winning
hearts and minds
• Exploring the benefits – does ERM deliver value?
• Gaining ‘buy in’ from non-believers
• Analysis of a disaster
Case study
• Dealing with objections and concerns
Role play
Embedding risk management throughout
the organisation
• The importance of organisational culture
• Encouraging everyone to be their own risk
manager
• Innovative use of Control Risk Self-assessment
(CRSA): pros and cons
• The power of risk workshops
Top facilitation tips
• Integrating risk management with management
processes
• Developing Key Risk Indicators (KRIs)
Practical examples
• The use of risk management software
Adapting your approach as risk
management matures
• Dealing with changing skills requirements
• Flexible interaction with other assurance providers
• Tools for assessing risk management capability
and effectiveness
Sample assessment programmes
• Towards best practice in ERM
• Modifying your relationship with management and
the board/audit committee
• Measuring and reporting your own performance
• Optimising and communicating your role
Conclusions and action planning
• Getting started: targeting quick wins
• Next steps – your individual action plan
Register Online at:
www.mistieurope.com/training
Quoting Code:
IA120705-W

The Global Leader In
Audit and Information Security Training
Register Online at:
www.mistieurope.com/training
Enterprise Risk Management
11-13 July 2012 London
PRICE GBP £2,145 + VAT
YOUR REGISTRATION CODE:
IA120705-W
Price includes tuition, course folder with all course notes, lunch
and refreshments and a prestigious certificate. Delegates are
responsible for their own accommodation. You can request an
invoice or pay online. Please note, payment must be received
prior to course start.
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Internal Audit School - 2-6 July 2012
IT Audit School – IT Auditing for Non IT Auditors – 2-6 July
Training Weeks - Attend both and save 10%
Developing the Annual Audit Plan – 2-3 July
And
Risk Based Internal Auditing – 4-6 July
Fraud & Corruption Summer School: - 2-6 July
Conducting an Investigation into Fraud and Corruption – 2-3 July
And
Conducting a Fraud Risk Assessment – 4-6 July
Managing the Internal Audit Department – 9-10 July
And
Enterprise Risk Management – 11-13 July
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