About the Program
In today’s competitive and disruptive environment, it is critical that risk managers avoid complacency. As part of the IERP®’s continuing professional education (CPE) series, the Refresher-Accelerator Program (RAP™) supports the continual development of the IERP® graduates as well as other risk, strategy, performance, finance, and management professionals at all levels of seniority.
Can you become an expert in the covered topics in a few hours? No. But these intensive modules will arm you with actionable insights and the essential knowledge to enhance your existing experience and expertise, on which you can build over the long term. You will also gain access to an indispensable network of fellow professionals who have most likely faced similar challenges that you have, and from whom you can receive guidance and fresh perspectives.
Lead Instructor: Ramesh Pillai
With over 30 years of risk management experience, Ramesh Pillai is the Chairman of the Board of Governors of the International Institute of Enterprise Risk Practitioners (IERP®) as well as the Group Managing Director of Friday Concepts, an International ERM, BCM, Governance, Risk Management and Compliance boutique consultancy.
Why Attend a RAP™?
- You find it difficult to articulate the value of ERM to top management and the relevant stakeholders
- You are currently facing challenges in risk management implementation and culture at your organization
- You want to further develop and sharpen your skills in Enterprise Risk Management practices and implementation skills
- You are a Risk and Corporate Manager or Executive looking to set up or transform the risk management function at your organization
- You need a time- and cost-effective refresher on crucial components of ERM in order to provide yourself with new ideas or to realign risk activities with objectives
- You struggle to apply or adapt ERM concepts and best practices to the realities and specific needs of your organisation
- You struggle to integrate ERM with day-to-day business, performance, long-term strategy, culture, and GRC practices
- You need to cut through the noise and learn up-to-date best practices and knowledge most relevant to you and your industry
RAP™ has been developed by the IERP® to ensure you have access to a broad range of relevant knowledge, skills, and abilities to deliver on risk, strategy, and value to your organization at all times under conditions of disruptive uncertainty. Modules are based on the fundamental assumption that ERM is a holistic tool intended for enterprise-wide integration, with linkages to performance, strategy, culture, and GRC practices. As such, participants will leave the program empowered with tools and methods to foster, sustainability, agility, and resilience within their organisations.
- Define the meaning and scope of Enterprise Risk Management as well as its linkage to Sustainability, Agility and Resilience.
- Elucidate the role of ERM in creating value.
- Explain the linkage of ERM to strategy and performance and strategic risk identification and various integration issues.
- Distinguish the differences between various ERM frameworks (e.g. COSO 2004, COSO 2017 and ISO 31000).
- Identify important and relevant components of an ERM framework and construct a practical ERM framework for their organisation.
- Relate the benefits of the Objective Centric and Strategic approach to ERM over the normal taxonomy approach adopted by most organisations.
- Describe what an effective ERM framework structure and process (i.e. Enhanced/Advanced ERM attributes) should look like and evaluate their own organisational framework and processes in line with best practice.
- Outline leading ERM concepts and practices.
- Summarise the rationale, nature and purpose of GRC practices
- Effectively establish the context for GRC
- Illustrate the practical linkages between ERM and GRC
- Apply the concepts of ERM and GRC as drivers of sustainability
- Analyse the returns on effective GRC frameworks and practices
- Outline the GRC process model and capability model
- Illustrate and implement best practice GRC frameworks and processes for their organisations
- Demonstrate the usage of scorecards in relation to GRC maturity
- Describe the GRC management challenges and enterprise-wide responsibility
- Define the meaning, nature and purpose of Risk Appetite Statements (RAS)
- Describe the workings of a RAS process
- Illustrate the critical considerations when constructing tailored ERM reports
- Differentiate the roles of responsibilities of the various parties within the governance structure in the RAS process and ERM reporting
- Distinguish between the concepts of Risk Appetite and Risk Tolerance
- Propose effective tools for Boards to understand risk reports and manage risk
- Describe effective examples of Risk Appetite and Risk Tolerance statements
- Demonstrate examples of good ERM reports
- Define the meaning and purpose of Key Risk Indicators (KRIs).
- Describe the nature and value of Key Control Indicators (KCIs).
- Explain the inter-relationships between KRIs, KCIs and KPIs.
- Illustrate how KRIs and KCIs are formulated.
- Outline the effective implementation and reporting processes for the indicators above.
- Relate the critical success factors to the effective communication of risk information.
- Identify appropriate audiences and channels to improve risk information communication effectiveness
- Present relevant information and metrics and utilize effective risk communication to drive performance.
- Relate the arguments for and against the measuring of risk
- Describe the purposes and usages of the various risk measurement models (e.g. Monte Carlo simulations, VaR, Sharpe ratios, and other methods ranging from Balance sheet and index methods through to miscellaneous methods such as Options, Filtering, and Graham’s valuation formulas and the Gordon model.)
- Distinguish between the measurement of Financial risk and business risk
- Demonstrate the applicability of risk measurement to Risk Appetite
- Illustrate the applicability of the various measurement techniques and models and relating it to complexity, volatility and uncertainty
- Explain the limitation of risk measurement and quantitative tools
- Explain the meaning, causes and effects of cybersecurity risks
- Describe practical instances and examples of cybersecurity failures and preventive solutions
- Relate industry expectations of sources of cybersecurity risks for the next 12 months
- Understand and address cybersecurity risk
- Illustrate and implement a cybersecurity governance plan
- Implement a cybersecurity risk maturity framework
- Define the meaning of Risk Culture
- Recognise the role of ethics and its effect on culture
- Demonstrate the Risk Culture spectrum and its applicability to differing organisations
- Illustrate the meaning and importance of the “Tone at the Top”
- Describe the establishment and communication of the Tone at the Top
- Explain the linkages of Corporate Culture and the Tone at the Top
- Understand the role and importance of Risk Governance and its impact on Risk Culture
- Define and distinguish between ISO 22301 and ISO 22313
- Describe the linkages of the standards above to the PDCA process
- Establish effective BCM project management
- Implement and conducting practical BIAs
- Construct effective and relevant BCM Plans
- Organise effective Emergency preparedness and crisis management
- Formulate processes to ensure continued relevance and sustainability via effective audits and response plan
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