Empowering You To Achieve Success

Certified Enterprise Risk Manager CERM

Course Overview

No longer confined within the realm of insurance transactions, (ERM) has now evolved to play a central role within organizations. This integration extends to the Governance, Risk, and Compliance (GRC) framework—from corporate governance to compliance, this highlights its crucial role in shaping and protecting the way modern businesses operate.

Enterprise Risk Management is a strategic process centered around studying the potential risks that may prevent a corporation from achieving its goals. This dynamic approach involves not only identifying these risks but also learning effective strategies and measures to successfully overcome and mitigate the challenges that may arise. Studies regarding risk management were done by different organizations, including ISO which issued ISO 31000 on risk management.

Our course allows you to explore the widely acclaimed ERM system designed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), offering essential insights into risk management. Navigate through the assessment of internal environments, objective-setting influenced by organizational tone, corporate governance directives, vision, mission, and strategies. Gain expertise in identifying, assessing, and responding to risks, implementing effective controls.

Inspect risk across diverse organizational areas, including strategy, reporting, compliance, operations, financial and physical risk, across various industries. Master the art of monitoring, communicating, and reporting risks effectively, enroll now!

Who Should Attend

  • Managers,
  • Senior managers,
  • Directors,
  • Executives,
  • Financial controllers,
  • Senior accounting and finance personnel,
  • Auditors

Course Objectives

At the end of this course, participants will be able to:

  • Identify internal and external changes that will create risks to the organization
  • Understand the relation with the board of directors through governance and improve Risk-Based Decision Making (RBDM)
  • Influence internal controls by choosing the response to the risks identified
  • Classify risk categories in the organization and identify the right authorities to manage them
  • Analyze, assess and improve risk management practices within the organization

Course Content

Introduction

  • Risk perception
  • Why should we care about risk
  • Internal environment changes
  • External environment changes

Risk management and corporate governance

  • Introduction to corporate governance
  • GRC concept: governance, risk and compliance
  • GRC system: governance, risks and controls
  • Risk management as part of corporate governance
  • Governance failures
  • Risk based decision making

Risk management and corporate control environment

  • Risk management’s influence on designing internal controls
  • Risk-based internal audit assessment of risk management performance

ERM and its evolution

  • ERM evolution
  • ERM benefits
  • ERM platform
    • Strategic approach
    • Operations and tactics
    • Business reporting
    • Compliance and process

Risk categories

  • Strategic risks
  • Reporting risks
  • Financial risks
  • Physical: life and safety risks
  • Compliance
    • Laws and regulations
    • Financial reporting standards
  • Operations
    • External environment: socioeconomic, regulations, technology and competition
    • Internal environment: structure, processes and culture

ERM components

  • Internal environment
  • Objectives setting
  • Event identification
  • Risk assessment
    • The black swan challenge
    • Quantitative versus qualitative analysis
  • Risk response
  • Control activities
  • Information and communication
  • Risk monitoring

Table of Contents

Course Code DU1003 Category
Location: Dubai, UAE
Duration: 5 Days
Language: English
Cost: 15,770 SAR
Search