Day 1: Foundations of Digital Risk Management
Session 1: The Digital Era and Risk Evolution
- Overview of risks in the digital age.
- Key challenges: automation, cyber threats, and data proliferation.
- Introduction to the COSO framework in the context of digital transformation.
- Activity: Group discussion—assessing current digital risks in participants’ organizations.
Session 2: Leveraging the COSO Framework in the Digital Era
- Revisiting COSO’s five components: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring.
- Applying COSO principles to technology and data risks.
- Case study: Real-world application of COSO in digital transformation.
Activity: Workshop—mapping COSO components to digital risk scenarios.
Session 3: Big Data and Risk Management
- Understanding big data: opportunities and risks.
- Data governance and privacy considerations.
- Tools and frameworks for managing big data risks.
- Activity: Brainstorming session—developing data governance strategies.
Session 4: Artificial Intelligence and Robotics
- Overview of AI and robotics in organizational processes.
- Identifying risks: bias, operational errors, and security threats.
- Integrating AI governance into risk management frameworks.
- Activity: Case study analysis—evaluating AI implementation risks in each scenario.
Session 5: Ethical Considerations in Technology Use
- Ethics in AI and robotics: fairness, accountability, and transparency.
- Regulatory and compliance considerations.
- Building ethical frameworks for technology use.
- Activity: Group debate—navigating ethical dilemmas in AI deployment.
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Day 2: Advanced Strategies for Digital Risk Management
Session 1: Cybersecurity in the Digital Era
- Evolving cyber threats and vulnerabilities.
- Frameworks for cybersecurity risk management (e.g., NIST, ISO 27001).
- Strategies for incident response and recovery.
- Activity: Simulation exercise—responding to a cyber incident.
Session 2: Integrating Digital Risks into ERM
- Aligning digital risks with enterprise risk strategies.
- Tools for monitoring and reporting digital risks.
- Role of leadership in managing technology-driven risks.
- Activity: Workshop—developing a digital risk management plan.
Session 3: International Trends and Best Practices
- Global developments in digital risk management.
- Emerging technologies and their impact on risk landscapes.
- Benchmarking against international best practices.
- Activity: Case study—analysing global trends/ their relevance to participants’ contexts.
Session 4: Building a Resilient Digital Risk Culture –
- Fostering a culture of risk awareness in the digital age.
- Training and capacity-building for digital risk resilience.
- Role of communication in embedding a digital risk culture.
- Activity: Interactive session—participants design a digital risk awareness campaign.
