Establishing an Effective Enterprise Risk Management Process


Course introduction

The implementation of a formal enterprise risk management (ERM) process is not only meant to comply with corporate governance requirements. Organisations that make use of risk management as an important tool for strategic decision-making are equipping themselves with the knowledge to make efficient and well-informed business decisions—anticipating and mitigating risk, seizing opportunities, allocating limited resources more effectively and enabling better overall business performance.
This intensive 1-day programme would provide participants with detailed guidance on establishing a formal ERM process, as well as useful references on ERM frameworks and sample templates, to help participants take immediate action to strengthen the existing risk management process of their organisations.

Course Benefits

Upon completion of this workshop, participants will be able to;

  • Understand about corporate governance and risk management compliance
  • Gain access to practical suggestions on risk management compliance
  • Learn about the different risk management maturity levels
  • Understand and define risk strategy, risk culture and risk appetite for your organisation
  • Learn about different risk management frameworks
  • Build a formal risk management process
  • Identify common risk factors
  • Conduct risk assessment
  • Formulate effective risk responses and risk reporting mechanism
  • Develop practical risk management documentation (e.g. risk management policy, risk management framework, risk register, etc.) with provided templates

Target Audience

Senior management, finance, risk, internal controls professionals who are tasked with the responsibility to develop or enhance the company’s risk management process or who would like to understand more about enterprise risk management.

Course Outline

  • Corporate governance and risk management
  • Singapore Code of Corporate Governance
  • Risk management compliance
  • Typical risk management activities
  • Enterprise risk management
  • Levels of risk management maturity
  • ERM vs traditional risk management
  • Benefits of a formal ERM approach and framework
  • Establishing an ERM structure
  • Risk management strategy
  • Risk management culture
  • Risk management policy
  • Risk management roles and responsibilities
  • Implementing an ERM process
  • Risk identification (with examples of common risk factors being provided)
  • Risk assessment
  • Risk treatment
  • Risk reporting
  • Risk monitoring
  • Common challenges faced when designing and implementing an ERM process
  • Case studies discussion

Available Course Sessions

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Trainer Profile

Sylvia Lim

All of our Associate Trainers offer our high level of service therefore are subject to regular peer assessments and interview prior to joining our Institute. They must all be qualified and have relevant experience to an agreed level and are subjected to continual audit and evaluation. Strict internal assessment is implemented as an integral part of our quality control mechanism.