A Practical Guide to Risk Management Techniques - Course Outline

Aims:

By the end of this course, participants will:

  • Understand the basics of risk management
  • Be able to implement a new Risk Management initiative
  • Be able to improve and integrate existing Risk Management processes
     

COURSE PROGRAMME

Overview of RM
  • How it has transformed from a low level insurance function to a main board requirement
  • Regulatory requirement for Risk Management – Turnbull and its derivatives
  • Going beyond compliance – using Risk Management to add value and improve corporate performance
  • Public sector case study: the board considering the risks to the organisation’s core goals
 Identifying threats
  • The "Triple layer" thinking that is vital, but rarely used
  • The information sources and lateral thinking tools that can be used to identify tomorrow’s threats rather than yesterday’s
  • Using the 80/20 rule - tools to filter the threat list down to the ones that really matter
  • Private sector case study: A high level risk identification workshop in a European financial institution
 Making RM work - Creating the risk management strategy
  • Aligning the RM culture with the corporate culture
  • Embedding the process
  • Gaining commitment
  • Options for risk financing and risk transfer
  • Setting roles, responsibilities and reporting lines
 Measuring and monitoring success and failure
  • Using and choosing the right KPI’s – you get what you measure……..
  • The balanced scorecard approach
  • Case study: a simple "traffic light" system compared to commercial RM software – is complex always better?
 Responding to failure
  • Early warning systems
  • Minimising the impact on reputation
  • Using losses as a goldmine of information
 Preparing for a crisis
  • Business continuity planning
  • Crisis management planning
 Responding to a crisis
  • How people react in a traumatic crisis – lessons from 9/11 and other crises
  • Case study: a crisis simulation in the food & drink sector
  • Dynamic crisis management – a process that can be used even when there is no crisis management plan
  • Protecting corporate reputation
 Keeping it all relevant and up to date
  • Getting early warning when all or part of the strategy needs revision
  • Maintaining the momentum and commitment