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The ability to manage significant risks effectively is an increasingly critical success factor for all organisations, irrespective of the sector they represent. Badly informed or poorly executed risk management, on the other hand, can easily spell disaster (as recent high profile failures have demonstrated). Any organisation small and large, that has encountered unwelcome surprises or unexpected events should realise that most were preventable. Such events will almost certainly have been caused by risks that were not fully understood, or the processes to mitigate those events being inadequate. The key is to recognise that risk is not something that should be avoided - a risk is often an opportunity in disguise.

By attending this workshop you will be shown how you can become a  forward-looking organisation by recognising the need and learning how to develop a formal, comprehensive business risk management programme.

Who should attend?

Any executive or manager tasked with developing, implementing or facilitating a business risk programme or anyone tasked with providing assurance to senior management that the significant risks are being managed appropriately.

Topics covered include:

• Providing you with an overview of the key elements of a business risk programme
• Investigating a process to allow organisations to identify, evaluate, mitigate and monitor their key risks and opportunities
• Offering an explanation of the alternative risk identification methods
• Practical demonstration of risk workshops
• Explaining the global risk management standard
• Showing you how to successfully evaluate key risks identified
• Assessing risk mitigation practices and identify exposures
• Equipping you with tools on how to deal with exposures
• Opportunities for Internal Audit in the process
• Translating key risks into the basis of the Internal Audit strategy and programme
• Embedding the process into the business - to satisfy Corporate Governance requirements and meet business needs

COURSE OUTLINE

Identification of Major Business Risks

Breaking Down the Barriers

• Knowing why senior management often lack a full understanding of the risks in their business
• Identifying the role and responsibilities of Directors and line managers
• Defining business risk and the intricacies surrounding it
• Designing specific strategies and systems to suit your organisation
• Defining significance in relation to risk (in monetary and other terms)
• Establishing a business risk programme - the steps to success

Background

• Understanding why business risk management is receiving such publicity
• Learning from high profile corporate failures and public embarrassments
• Exercise - the major risks
• Comprehending the corporate governance debate
• Identifying with the risk management standard
• Exploring potential legislation and regulation

The Wider Business Agenda

• Identifying with your organisation's strategic objectives
• Developing a programme to reflect these objectives
• Understanding your organisation's risk appetite
• Analysing the categories of Risk
• Providing you with a risk management framework
• Syndicate Exercise - analysing a disaster
• Implementing risk management systems

Risk Identification and Evaluation

• Team Exercise - risk-taking in action
• Providing you with approaches and techniques
• Knowing how to establish a risk workshop process
• Looking into the benefits of facilitation and the characteristics required
• Taking advantage of diagnostic questions and thought-provokers
• Analysing the pros and cons of using data capture technology
• Identifying, sifting and grouping the risks
• Measuring the consequences and the likelihood of occurrence of each risk
• Making use of risk matrices to prioritise the risks.

Interactive Risk Workshop

• An actual risk workshop - with your own risks
• Enabling you to appreciate all elements covered in a live situation

Evaluation of Mitigation Strategies, Identification of Exposures and Risk Monitoring

Assessment of Risk Mitigation

• Scrutinising the various options to managing risk
• Looking into management evaluation of mitigation controls
• Giving you tools to Assess risk mitigation
• Identifying risk exposures
• Knowing how to evaluate exposures
• Examining how to adequately deal with such exposures (the 4 Ts - terminate, tolerate, treat or transfer)
• Establishing action plans
• Interactive workshop - part 2: Risk mitigation and dealing with the exposures in practice

Options for Internal Audit Involvement

• Pros and cons of Internal Audit facilitating the process
• Risk-based auditing: explanation and options
• Translating the most significant risks into the basis of the audit programme
• Monitoring of action plans and Audit Committee reporting
• Evaluating and reporting of actual versus perceived controls
• Determining which key risks are not readily auditable

Embedding the Process

• Ensuring compliance with governance requirements and adopting best practice
• Quarterly Board reporting to review progress in addressing the exposures
• Risk Management Committee reporting
• Half yearly evaluation of key risks to ensure new risks identified and included
• Integrating the programme into the overall Risk Agenda e.g. strategic planning, health, safety and environmental management, regulatory requirements, insurance procedures, etc.
• Implementable winning business strategies
  

ABOUT YOUR PRESENTER

Dr Ja’nel Esterhysen completed his M.Com (Cum Laude) at the University of Potchefstroom, specialising in operational risk management. He then joined Standard Bank's Retail Division in 2002 as an operational risk manager and was responsible for implementing the Basel II requirements for operational risk. In March 2004 he was invited by the International Atlantic Economic Society to deliver a presentation at their annual conference in Portugal on the identification of Key Operational Risk Indicators.

In 2006 he joined Investec's Private Bank Division, where he headed up the Operational Risk Management Team. In November 2006 he obtained his PhD (Cum Laude) in Risk Management, specialising in the quantification and modeling of operational risk. In April 2007 Ja'nel was again invited by the International Atlantic Economic Society to do a presentation on the quantification of operational risk in Spain and in August 2007 he was invited by the Global Association of Risk Professionals (GARP) to do a presentation on the management of Operational Risk at their local chapter meeting in Johannesburg. Ja'nel joined ABSA Capital in their Specialised Finance Division as a Senior Credit Analyst in January 2009. 

 

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