Introduction

The complexity of enterprise risk has evolved, requiring everyone’s involvement in its management. The COSO Enterprise Risk Management Certificate teaches the updated ERM framework, equipping participants to align risk management with organizational strategy to enhance performance. Self-paced modules provide practical knowledge to apply the ERM framework effectively. The framework's five components support diverse perspectives, improve decision-making, and help management and boards fulfill their risk management responsibilities. This program empowers organizations to integrate ERM into their strategy-setting process for better outcomes.

Objectives

• An Overview of Enterprise Risk Management - Integrating with Strategy and Performance

• The Governance and Culture Component

• The Strategy and Objective - Setting Component

• The Performance Component

• The Review and Revision Component

• The Information, Communication, and Reporting Component

• Case Application - ERM Improvement Observations

Target Audience

• Team members who play a risk management role in entities of any size.
• Consultants who provide advisory services related to enterprise risk management.
• Board members who provide oversight of enterprise risk management

Outlines

Day 1: An Overview of the ERM Framework, Governance and Culture Component

• Overview of the ERM Framework
• Recognize the value of enterprise risk management when setting and carrying out strategy and objectives
• Recognize the alignment of performance and enterprise risk management
• Identify key terms, definitions, and concepts of the ERM Framework
• Governance and culture within the ERM Framework
• Relevant principles related to governance and culture
• Role of leadership and organizational culture in effective risk management
• Application of governance and culture concepts to practical situations

Day 2: Strategy and Objective-Setting Component

• Strategy and objective-setting within the ERM Framework
• Key principles linking risk management and strategic planning
• Alignment of objectives with organizational risk appetite
• Application of strategy and objective-setting concepts to real scenarios

Day 3: Performance Component

• Performance within the ERM Framework
• Integration of risk management into performance management systems
• Monitoring and managing risk exposure during execution
• Application of performance principles to practical situations

Day 4: Review, Revision, Information, Communication & Reporting Component

• Review and revision within the ERM Framework
• Continuous improvement in enterprise risk management
• Information, communication, and reporting principles in ERM
• Ensuring effective risk communication across the organization
• Application of reporting and review concepts to scenarios

Day 5: Case Application in ERM Framework

• Comprehensive application of ERM Framework concepts
• Integration of all ERM components in a practical case study
• Identifying performance improvements using ERM principles
• Analysis of organizational risk scenarios
• Review and synthesis of ERM Framework application