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2025: Risk and Communication on a Strategic Level

2025: Risk and Communication on a Strategic Level

R2800,00

Course Objective: Deepen Understanding of Strategic Risk Management, Understand how risk appetite influences strategic decision-making and performance, Build transparent reporting mechanisms to enhance decision-making at the board level, Focus on Performance within Risk Appetite, Incorporate Tools for Strategic Communication, Shift from compliance-driven to decision-focused risk management, Emphasize stakeholder-centric approaches to enhance long-term value creation.

Key benefits/ Outcomes: Enhanced Decision-Making at Strategic Levels, Practical Tools and Techniques – Gain expertise in using the Balanced Scorecard and other tools to align risk management with organizational goals, Clear Communication Frameworks – Build skills to articulate risk appetite, performance variations, and risk-adjusted outcomes effectively, Sustainability Through ERM, Develop an implementation plan tailored to your organization’s strategic risk communication needs.

Category:

Day 1: Foundations of Strategic Risk and Communication

Session 1: Strategic Risk Management Using COSO ERM

  • Overview of COSO ERM components and principles.
  • Strategic alignment: Integrating risk and communication frameworks.
  • Case studies on successful ERM adoption.

Session 2: Communication of Risk Appetite and Performance

  • Defining and communicating risk appetite. Breakdown of processes.  Aggregation of risk bottom up.
  • Role of performance levels against risk appetite and tolerance levels in decision-making.
  • Tools for ensuring message consistency across organizational processes (Mega/ major/ minor).

Session 3: Tim Leech’s Decision-Focused ERM

  • Shifting from value protection (traditional) to value creation ERM.
  • Stakeholder-centric approaches for enhanced communication and integrated reporting.
  • Addressing variation in performance levels and its relationship with risk appetite.

Session 4: Workshop – Risk Appetite and Performance Scenarios

  • Practical exercises to define risk appetite and assess performance variations.
  • Group discussions and solution design for real-world scenarios.

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Day 2: Advanced Tools and Practical Applications

Session 5: Balanced Scorecard for Risk and Performance Communication

  • Overview of the Balanced Scorecard and its four perspectives.
  • Aligning risk and performance metrics using the Balanced Scorecard.
  • Case study: Monitoring risk-adjusted performance with the Balanced Scorecard.

Session 6: Evaluating and Communicating Performance Variations

  • Techniques to monitor performance variations within risk appetite.
  • Tools for data visualization and effective storytelling.
  • Role-play exercise: Communicating variations to stakeholders.

Session 7: Combined Assurance and Communication Synergy

  • Integrating assurance functions for cohesive risk communication.
  • Developing consistent messaging for audit committees and executive teams.
  • Case study: Successful combined assurance implementation.

Session 8: Final Workshop – Building a Strategic Risk Communication Plan

  • Participants design a communication plan addressing risk appetite, performance, and sustainability.
  • Presentation and feedback session with peers and facilitator.

Closing and Next Steps

Summary of insights and actionable takeaways.

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