This programme lays out the fundamental concepts of risk management for the committee members, looking at core principles related to risk and how these align to overall strategic business objectives. This includes analysis of enterprise risk and Internal Control Frameworks, understanding of your organisations approach to risk culture and conduct risk, and how these ties into improved principled performance.

We will explore the composition and structure of the Risk Management Committee (RMC), and the relation between the RMC and corporate governance and values. Using the risk-based approach, the session will examine ways to deploy risk resources more effectively and efficiently, minimising uncertainty on objectives, and providing greater assurance to the RMC.

Learning Outcome

• Explain the principles and rationale behind Strategic Risk Management in the pursuit of achieving business objectives
• Recognise the elements encompassing the risk universe and the approaches to minimise uncertainties
• Analyse the Enterprise Risk Management (ERM) and COSO (Committee of Sponsoring Organizations of the Treadway Commission) Frameworks, the risk culture and conduct risk, and the risk technology
• Demonstrate the role of RMC in driving oversight of risk management, including appropriate mechanism to ensure adherence to risk principles
• Discuss on the cultural understanding of risk in organisations and how to structure the RMC to achieve the most positively desired strategic outcomes

Target Audience

• From newly appointed directors to senior directors