In this turbulent world, risk management responsibility has fallen squarely on financial managers’ shoulders. Audit committees and external auditors are asking questions they never asked before. We must prepare to give them answers! Gain insight about Enterprise Risk Management (ERM) and what professional standards say every company must do.
Course ID: RAM
Risk Analysis and Management: What Every Financial Manager Must Know
- Understand how to analyze and manage risk in the corporate world.
- Understand COSO Enterprise Risk Management standards and how they integrate with internal control.
- Business Risk Categorization – What is “risk”
- – What are the categories of risk
- – Understand the COSO ERM model
- Risk Assessment and Mitigation – Understand risk control processes – Receive an update on SOX risk management – Assess risk: small vs. large companies – Understand the financial manager’s role – Understand six risk management tools – Know how to responsibly “frame” risk
- Ethical Risk-Taking – Take a brief quiz to determine if you are a risk-taker or a risk-avoider – Know how ethics and risk concepts interrelate – Learn risk management’s behavioral aspects – Know how much risk you can live with – Understand factors that distort our perceptions in framing risk and making risk decisions Cases and Exercises: This seminar includes five interactive exercises as a vehicle for group discussion.