In very simple terms, ERM empowers the Chief Risk Officer (in smaller firms, often the Group MD or CEO) to measure, monitor and oversee all the risks the firm is taking in the form of a single, user-friendly report that can be accessed from within a central “command bunker” in real-time. Its purpose is to provide a meaningful risk oversight tool that avoids the pitfalls of traditional “silo” working and “silo” risk-taking. “Silo” working involves business units operating independently of each other and not always in the best interests of the firm as a whole.
Put bluntly, no CEO can attest properly that risk is being managed most effectively across the firm unless it can be measured, assessed and overseen in a single report that is available on a real-time basis at the click of a button.
Within any organisation, there are both tactical and strategic risk-takers. The strategic risk-takers – CEO, directors and senior managers – formulate the business strategy and agree that certain risks can and must be taken, whereas others are to be expressly avoided. This strategy is communicated throughout the organisation using a financial risk appetite statement (RAS) which is often called an Operating Plan.
This highly interactive risk appetite and enterprise risk management course will enable delegates to discuss strategic ERM frameworks, understand the key processes for implementing an effective ERM function and how to put in place the appropriate ERM architecture. It will deal with set-up, implementation, operation, management, and exceptional issues and will demonstrate how this important corporate governance tool can be used to manage the risk profile across the firm. The risk appetite and enterprise risk management course will cover economic capital allocation, risk appetite in risk management, risk allocation, risk budgeting and risk reporting.
Who Should Attend
Anyone with an interest in the topic seeking an update, new information or merely a refresher
Workshop Style & Delivery
Highly interactive and packed with case studies, opportunities to engage in discussion and if applicable, swap “war stories”