Course summary
Risk management plays a crucial role in the success of organisations by providing the tools, frameworks and processes to proactively manage the impact of what might happen and the unknown. This risk management course provides the knowledge and practical skills to equip you to help your organisation better manage risk.
We will consider the critical risks facing organisations today and the role risk plays in corporate strategy development. We will delve into the process for managing risk including risk identification, risk assessment, techniques for treating and mitigating risk, risk monitoring, controls and reporting. We will discuss the tools, processes and behaviours that enable an organisation to progress from naive and novice in their approach to managing risk to a more mature risk framework. We will also explore the impact of culture and leadership on risk management effectiveness and discuss the role that attitudes to risk have played in triggering some well-known organisational crises.
Best practice in corporate governance and corporate responsibility will be explored, drawing on the governance principles and recommendations of the ASX and other key regulatory bodies. Attention is given to the iterative steps in managing risk whilst remaining complaint through strong corporate governance.
The concepts, standards and techniques discussed in this course are relevant for company directors, risk managers, strategy developers, executives, operational managers and programme/project managers within commercial, government and not-for profit organisations.
Aims
The aim of this course is to provide you with the knowledge and skills to effectively identify, treat and manage risk in an organisational context. Real world examples will be used to illustrate the crucial role that risk management plays in corporate strategy and organisational effectiveness.
This course will also examine the interface between corporate governance and risk management as part of an organisation’s transition to achieving a more mature risk management approach.
The course is designed to apply across sectors in an Australian context.
Learning outcomes
By the end of this course, you should be able to:
- discuss the relationship between corporate strategy and risk in your organisation
- identify applicable risk standards and governance frameworks
- implement an effective risk management process
- analyse the role culture plays in organisational risk and crises.
Content
The role of risk management in developing corporate strategy
- Defining risk management
- The value of effective risk management
- The link between risk and corporate strategy
- Critical risks affecting organisations today
- Identifying an organisation’s risk profile and appetite
Risk frameworks, standards and governance
- Standards, principles and guidelines across sectors
- Introduction to ISO31000:2018
- Roles and accountabilities including the 3 lines of defence model
Implementing a risk management process
- Risk identification
- Risk analysis
- Risk evaluation
- Risk treatment
- Monitoring and review
- Internal controls and reporting
Models of corporate governance
- Different models for corporate governance and how they can be applied
- The Australian framework for Corporate Governance
- Australian Corporations Act including ASX principles and regulations
The role culture plays in managing risk
- The criticality of culture in managing risk
- Target risk culture and cultural change
- Key case studies
Who this course is for
Suitable for anyone responsible for shaping or working within their organisation’s corporate governance and risk management frameworks. In particular:
- Risk managers
- WHS Managers
- Financial managers
- HR Managers
- Change Managers
- General Managers
- Operation Managers
- Program Managers
- Executive Officers
- Board members
- Company Directors
Note: This is a course for anyone wishing to learn these skills.
Prerequisites
None
Delivery style
Coursework consists of mini lectures, followed by practical exercises. These exercises include group work based on case studies. There will be also an opportunity to consider your own organisation’s risk profile and develop a risk mitigation plan based on a scenario that you identify.
Delivery modes
- Face-to-face, presenter-taught workshop
- Online workshop via the platform Zoom
Materials
Course materials are distributed electronically using Dropbox.
