COSO - ENTERPRISE RISK MANAGEMENT
DESCRIPTION
Organisations
are experiencing an increased concern and focus on risk management.The
challenge for management of both private and public organisations is to
determinehow much uncertainty to accept as it strives towards achieving the
organisation’sobjectives and delivering value to its stakeholders.
The solution to this challenge is the establishment of an
Enterprise Risk Management(ERM) system and processes that effectively identify,
assess, and manage risk withinacceptable levels.The COSO Enterprise Risk
Management – Integrated Framework is designed to providebest practice guidance
for management of businesses and other entities to improve theway they are
dealing with these challenges.
COSO – ERM
integrates various risk management concepts into a framework in which acommon
definition is established, components are identified, and key
conceptsdescribed. This enables COSO to provide a starting point for
organisations to assess andenhance their Enterprise Risk Management.
COURSE BENEFITS
The objective is to provide attendees with the necessary
perspective, knowledge andskills to understand the risks and benefits of
Enterprise Risk Management and learnhow the COSO – ERM framework enables
organisations and management to:
•
Comply with the
requirements for corporate governance (King II)
•
Align risk appetite and
strategy
•
Enhance risk response
decisions
•
Reduce operational
surprises and losses
•
Identify and manage
multiple and cross-organisational risks
•
Providing integrated
responses to multiple risks
•
Seize opportunities
•
Improve the deployment of
capital
A further
objective is to provide attendees with an understanding of therequirements
needed to design and implement an appropriate Enterprise RiskManagement system,
i.e. policies, procedures, practices, and accountabilityrequired to establish
the right levels of Risk Management in compliance withthe Corporate Governance
requirements for their organisations
MATERI
Day 1
1.
Course
Introduction & Overview of CorporateGovernance & Enterprise Risk
Management
2.
Understanding
the COSO ERM Framework
3.
Internal
Environment
Risk Management Philosophy, Risk Appetite, Boardof
Directors, Integrity & Ethical Values, Commitmentto Competence,
Organisational Structure,Assignment of Authority & Responsibility,
HumanResource Standards
4.
Objective
Setting
Strategic Objectives, Related Objectives,
SelectedObjectives, Risk Appetite, Risk Tolerances
5.
Event
Identification
Events, Influencing Factors, Event
IdentificationTechniques, Event Interdependencies, EventCategories,
Distinguishing Risks & Opportunities
Day 2
6.
Risk
Assessment
Inherent & Residual Risk, Establishing Likelihood
&Impact, Data Sources, Assessment Techniques,Event Relationships
7.
Risk
Response
Evaluating Possible Responses, Selected
Responses,Portfolio View
8.
Control
Activities
Integration with Risk Response, Types of
ControlActivities, Policies & Procedures, Controls overvInformation
Systems, Entity Specific
9.
Information
& Communication
Information, Communication
10.
Monitoring
Ongoing Monitoring Activities, Separate
Evaluations,Reporting Deficiencies
Group Case Study
Day 3
11.
A practical approach to
the development of an integratedRisk Management System & manual following
therequirements for management systems standardsoutlined in the ISO Guide 72:
• Enterprise Risk management Policy
• Risk Management Planning
• Risk Management Implementation & Operation
• Performance Assessment
• Risk Management Improvement
• Risk Management Review
• Group Case Study
• Overview of the Enterprise Risk managementimplementation
process
• Practical illustrations of techniques used at
variouslevels of an organisation in applying enterprise riskmanagement
principles.
Ir.
BambangKuswijayanto, MM
Associate Director, PT SinergiDaya Prima (”SDP Consulting”), 2009
– Now, Islamic Bank and Islamic Finance Course, KedutaanBesar Arab Saudi,
Jakarta.Corporate Financing and Structured Products, Bank Danamon-Corporate
Banking. Import Trade Finance Operation/Long Term Credit Scheme Islamic Development
Bank. Loan Disbursement Workshop, Asian Development Bank. Credit Risk
Management, Citibank. Executive Shariah Workshop, Tazkia Institute.
Participants
This training workshop is designed for Directors and
senior managers, Risk officers and other professionals involved in risk
management, Internal and external auditorsthat deal with the complexities of
organisational risk management function on a daily basis.
