Session 1: Strategic Importance of Risk Management
- Overview of the COSO framework with a focus on enterprise risk management (ERM).
- The interplay between risk and opportunity in achieving objectives.
- Aligning risk strategy with organizational vision and mission.
- Activity: Case study discussion on a major organization’s risk-based decision-making success.
Session 2: Defining Risk Appetite and Tolerance
- Distinction between risk appetite and risk tolerance.
- Establishing and communicating risk parameters to stakeholders.
- Incorporating risk appetite into strategic planning.
- Activity: Workshop—Developing a risk appetite statement for a hypothetical organization.
Session 3: Leveraging Information Technology for Decision-Making
- The role of data analytics, AI, and real-time reporting in risk management.
- Using IT tools to identify, assess, and respond to risks.
- Examples of IT-driven success stories in optimizing risk and opportunities.
- Activity: Interactive demo of a decision-support tool tailored for risk management.
Session 4: Integrated Risk and Opportunity Management
- Integrating risk management into performance management systems.
- Building resilience through scenario planning and stress testing.
- Balancing short-term risks with long-term opportunities.
- Activity: Group exercise to develop a balanced risk and opportunity matrix.
Session 5: Executive Leadership in Risk Management
- Role of directors and executives in fostering a risk-aware culture.
- Governance and oversight responsibilities in risk optimization.
- Communicating risk and opportunity insights to stakeholders.
- Activity: Panel discussion with industry experts on leadership and risk.
