Introduction

In today's dynamic business environment, organizations face a multitude of risks that can impact their ability to achieve strategic objectives and deliver value to stakeholders. The COSO Enterprise Risk Management (ERM) Framework provides a comprehensive approach to identifying, assessing, responding to, and monitoring risks across all levels of an organization. This 5-day training program is designed to equip participants with the knowledge and skills necessary to understand and implement the COSO ERM Framework effectively.

Objectives

• Understand the Fundamentals of ERM: Gain a solid understanding of the principles and components of the COSO ERM Framework.
• Apply ERM Principles in Practice: Learn practical techniques for identifying, assessing, and responding to risks within an organization.
• Enhance Risk Management Skills: Develop the skills necessary to implement effective risk management strategies and controls.
• Gain Insights from Real-world Examples: Explore case studies and best practices to understand how ERM is applied in various industries and contexts.
• Prepare for ERM Implementation: Acquire the knowledge and tools needed to initiate or improve ERM practices within your organization.

Target Audience

This training program is ideal for professionals across various functions and levels within organizations, including:

• Executives and Senior Management
• Risk Managers and Compliance Officers
• Internal Auditors
• Finance and Accounting Professionals
• Project Managers
• Operations Managers
• Legal and Regulatory Compliance Personnel

Training Program Outline

Day 1: Introduction to ERM Framework

• Overview of Enterprise Risk Management (ERM)
• Introduction to COSO ERM Framework
• Key Components of ERM

Day 2: Internal Environment and Objective Setting

• Understanding the Internal Environment component
• Importance of Objective Setting in ERM
• Aligning Objectives with Organizational Mission and Vision

Day 3: Event Identification and Risk Assessment

• Techniques for Event Identification
• Conducting Risk Assessments
• Prioritizing Risks based on Likelihood and Impact

Day 4: Risk Response and Control Activities

• Developing Risk Response Strategies
• Implementing Control Activities to Mitigate Risks
• Integration of Risk Response with Organizational Processes

Day 5: Information & Communication, Monitoring Activities

• Importance of Information & Communication in ERM
• Establishing Effective Communication Channels
• Monitoring Activities for Ongoing Risk Management
• Case Studies and Best Practices