The Importance of Risk Management Learning & Development

Achieving excellence and maturity in risk management requires organizations, institutions and risk management professionals alike to enhance their risk management knowledge and invest their time and effort in industry leading training programs that can deliver important and long-term benefits. Some of the salient benefits I believe organizations can achieve by having their employees attend well designed risk management training programs include the following:

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1.???? A clear understanding of the role of operational risk in minimizing and prevention of risk of failures in internal processes including people, processes and systems. This includes knowledge of the tools and techniques in effective management of operational risk exposures which can be managed through important tools such as Key Risk Indicators (KRIs), Controls Testing via Risk Control Self Assessments (RCAs) and root causes analysis (RCAs) of operational risk related incidents and prevention of operational risk associated financial losses.

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2.???? A thorough and mature understanding of the role of Enterprise Risk Management (ERM) in the management of enterprise level risks including establishment of a comprehensive ERM governance structure for the effective management of all enterprise level risks.

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3.???? An understanding of the significance of fraud risks applicable to an enterprise and the growing importance of managing fraud risk across an enterprise. Without a thorough understanding of the tools, techniques and approaches to manage fraud risk effectively, organizations remain vulnerable to significant and potentially harmful exposures to fraud risk related incidents.

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4.???? For Risk Management to be effective, organizational staff working in the control functions must have a thorough understanding of the role and importance of ‘Risk Appetite’ and the role of a well-established Risk Appetite Framework (RAF). This includes the ability to formulate clearly articulated risk appetite statements (RAS) and quantifying risks across an enterprise in terms of the maximum level of acceptable risk exposure that an organization is willing to accept.

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5.???? With technology & systems increasingly playing a critical role in supporting organizations to manage risks effectively and efficiently, information technology risk management is a key knowledge domain area where organizational risk management staff must acquire the necessary skills and expertise in being able to not only understand the role of information technology associated IT related risks but also be familiar and experienced in being able to apply the necessary tools and skills to reduce and effectively manage technology related risks.

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Over the last many years, my experience has shown that there is a noticeable lack of maturity among staff and within institutions globally whereby a clear understanding of operational risk, ERM, Fraud Risk and technology related risks has been observed including the practical application of the latest tools and techniques to manage these risks effectively.

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In addressing these requirements, through my firm, Know Your Risk (KYR) Consulting, Training and Advisory Solutions, I have designed and developed training programs to meet the growing global demand on these topics.

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Currently, I am delivering the following training programs on the following topics which includes latest industry knowledge, case studies and interactive group activities to provide an immersive experience:

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1.???? Operational Risk Management Training (Offered as an Onsite and Online Training Program over 2, 3 and 5 days depending upon organizational/client specific requirements)

2.???? Enterprise Risk Management - Offered as a 2 and 3 day Program

3.???? Risk Appetite Framework (RAF) Development and Implementation offered as a 2 and 3 intensive day Program.

4.???? Fraud Risk Management - offered as a 2 and 3 intensive day program.

5.???? Information Technology Risk Management - Offered as a 2 and 3 day program.

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All of the above training programs are delivered by me and I welcome enquiries on these outlined training topics. Please note that due to several training engagements I have over the course of this year, I would request to submit your request for any training program you would like to organize for your organization well in advance.

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I can be reached on my corporate email address : [email protected]

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Thank you.