Whatever is the business, managing risk is critical for its survival. Risk is a fact of business life. You cannot avoid risk altogether, but you can keep it under control, you can mitigate it and you can prepare for it in case it is around the corner.
This course is about how to address the risk issues, anticipate and deal with risks at a comprehensive level.
Business Risk Profiling
- Customer-triggered risk circumstances
- Competition-triggered risk circumstances
- Technology-triggered risk circumstances
- Capital-triggered risk circumstances
- Government-triggered risk circumstances
- Operational risks
- Financial risks
- Compliance risks
- Market risks
- Reputation risks
Risk management objectives
- Avoid losses
- Take appropriate risks for appropriate returns
- Reduce business volatility.
Risk management framework
- Clear risk management strategy that aligns with business strategy
- Clear risk assessment process
- Information monitoring.
Risk Management System (see ISO 90002000)
- General requirements
- Risk management planning
- Documentation requirements
- Risk records and their control
- Responsibility, authority and communication process
- Risk review processes
Risk Management Infrastructure
Work Environment for Risk Assurance
Corporate governance responsibilities