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

Outlines:

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