Building Risk Culture

3 days 15-17 May 2017, London UK £3,645.00 + VAT* Download brochure Add to basket
3 days 11-13 Dec 2017, London UK £3,645.00 + VAT* Download brochure Add to basket

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Overview

Traditional risk management and its methods no longer suit the needs of today’s companies. Modern risk management must be strategically linked, forward-looking and relevant to the performance objectives and targets of a company’s business and operational executives. Nonetheless, even for CROs and other risk executives attempting to implement more strategic, risk management agendum, embedding risk culture is still a challenge. Business and operational heads are still often reluctant to accept risk management as more than policing function that “kills the business” through its ‘unnecessary’ or irrelevant, regulatory restrictions on activity. In this course we tackle this issue. We outline how effective embedding of risk culture is as much a product of risk management’s design and scope as it is a function of the CRO’s and board’s efforts. Using exercises, case studies and interactive discussions, we demonstrate that changing the risk culture of an organization is much like any other change initiative: It requires an understanding of incentives, psychology and clear alignment with the strategic goals of the business.

 

Methodology

Teaching style:  Each participant will receive a large amount of materials related to risk culture, enterprise risk management and governance in the form of binders and softcopy material upon attendance. Softcopy materials will include both reading material and spreadsheet exercises used within the course. The course will initially involve lectures for the purpose of building the delegates’ knowledge base on risk governance, then quickly shift into interactive discussion surrounding class exercises and assignments. We end the course with a project in which participants develop a risk governance structure for their companies, outlining the key components that address the risk management hurdles. Participants must bring laptops equipped with Adobe Reader and Microsoft Office so that they can actively participate in the course exercises.

Who should attend

This course is primarily targeted towards senior executives, board members and functional leaders. It is not a course on remedial, back-office resolution of risk events. Discussions and exercises will require a deep understanding of the participant’s own strategic and organizational goals, business challenges, risk landscape and an appreciation of its board-level apparati.

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

London
Maurice Ewing

The course instructor holds a PhD, is an experienced executive, Chief Risk Officer (CRO), board member and consultant. He is the founder and CEO of Conquer Risk, a consulting firm that conducts investment due diligence of corporates and banks, specialising in emerging and frontier markets. Until recently, the instructor held the group CRO role for one of Africa's largest banks for which he developed the entire enterprise risk management (ERM) and risk oversight functions, sitting on the board and managing over 400 people within 10 departments, spanning 5 countries. He is a sought after speaker on risk oversight, strategy and corporate governance but has also trained numerous management teams in predictive analytics, market intelligence acquisition and internal model development for Basel II & Basel III purposes. He previously taught Executive-MBAs on the full-time finance faculty of the Kellogg-HKUST business program and, before that, worked as a regulator for both the New York Federal Reserve and the Board of Governors. A former dissertation advisee of Ben Bernanke, the US Federal Reserve Chairman, the instructor holds a PhD and MA in economics from Princeton University and a BA in Economics and Mathematics from Northwestern University. He was recently selected out of over 50,000 candidates to the prestigious board of the Professional Risk Manager's International Association as a Subject Matter Expert on ERM. He is also a certified Financial Risk Manager (FRM) with the Global Association of Risk Professionals.

Venue

London

Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Related Courses

Inhouse

We can bring this course to your company's office.

If you simply want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. Our tailored learning solutions are designed specifically for your organisation’s needs.

We’ll be here to support you every step of the way. From the initial consultancy through to evaluating the success of the full learning experience. We'll ensure you get the maximum return on your training investment.

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Agenda
Day 1


Introduction and Overview

  • Key takeaways from the course
  • Traditional Risk Management vs. Modern Risk Management
    - ISO 31000 and its failings
    - COSO Enterprise Risk Management
  • How ERM works
    - Mechanics
    - Tools
  • Understand the Redefined Role of the CRO under ERM
    - The CRO as “Navigator” and “Enabler”
    - Strategic
    - Forward-looking
    - Comprehensive
  • Understanding Risk Exposure
    - Why it is a board and executive-level concern
    - Why managing risk requires the attention of CEOs and business heads
    - Why risk and strategy are tied
    - Why risk MUST be forward-looking and strategic
  • Risk Alignment with the Business Strategy
    - What is a business strategy?
    - Good Strategy and Bad Strategy
    - Cascading the strategy through KPIs
  • Case Discussion
  • Homework reading


 

Day 2



Short review of previous day’s insights
 

How misunderstandings of risk, call for the risk governance

  • Misperceptions of risks
  • Misidentification of risks
  • Miscalculation of risks
  • Miscommunication of risks
  • Mishandling and mismanagement of risks

Generating Risk Culture through Incentives

  • Defining and understanding KPIs
  • Risk-based KPIs
  • The ‘Sweet Spot’ Matrix of Strategy and Structure

Generating Risk Culture through ownership

  • The important link between Risk Culture and Risk Ownership
      - Risk Ownership by design
            - First-, second- and third- lines of defence
            - Risk Champions
                    - How Risk Champions can Embed risk culture
  • The activities of Risk Champions
  • Risk Analysts 
      - The Activities of Risk Analysts
  • How RCs and RAs can work together to aid risk culture
  • The Strategic-level interaction of the CRO and executives, aided by RCs and RAs

Generating Risk Culture though Risk Governance

  • Establishing the CRO and board connection
  • Creating information and reporting channels
  • Creating a Progressive, business-relevant board
  • Board-led, Risk Communication
      - Famous cases of risk communication breakdown
      - The consequence of miscommunication
      - Why risk is miscommunicated
      - Tools and frameworks to better communicate risk

Exercise: How good is risk communication in your company?

Case Exercise

Overnight reading


Day 3



Generating Risk Culture through understanding Psychology

  • Biased Risk Perception
    - What it means
    - Biased views
    - Cognitive biases and the psychology of bad thinking
    - Major problems biases lead to


Exercise: Where are the biases in your company?

Case discussion on cognitive bias in the board room
What boards can do to rectify biased perceptions

Summary and Concluding Remarks


Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product