(Online – Special Online Fee Applies)
CPD Hours: 23
The Enterprise Risk Management Fundamentals Program is a stand-alone program most beneficial to financial professionals with a few years of experience, who want to learn the fundamentals of risk management in order to either further their career, or add value to their organization.
Understand and properly manage risk to create a thriving business, generate value, and achieve a competitive advantage.
This highly interactive and hands-on learning program will include instructor led discussions, group discussions and case studies, all supported by a current and comprehensive resource materials package.
Introduction to Enterprise Risk Management
- Definitions - Risk and Enterprise Risk Management (ERM)
- ERM and Corporate Governance
- Benefits of ERM/Difficulties with ERM
- Risk and cognitive biases
- The ERM Framework relative to ISO and COSO
Establish Context for Managing Risk
- Establishing the tone at the top
- Considering the external and internal environment
- Risk appetite and Risk tolerance
- Risk taxonomy
- Roles and responsibilities – the 5 lines of defense model
Risk Identification and Risk Assessment
- Risk identification – approaches/techniques to identifying risk
- Risk Prioritization – inherent risk and residual risk
- Risk measurement criteria – likelihood and severity, velocity and adaptability
- Risk heat maps
- Risk avoidance/Risk acceptance/Risk transfer-sharing
- Risk mitigation with controls
- Corrective and recovery controls
- Risk registers
- Risk and control assessments
- Risk bow ties and Risk Bow tie methodology
Risk Monitoring and Risk Reporting
- Areas of priority for monitoring
- Key risk indicators
- Lagging and leading risk indicators
- Risk reporting - Who’s the audience?
- Examples of best practice risk reports
Incorporating into Strategic Decisioning and Implementing ERM
- Change Management 101 and Risk Management
- Aligning strategic decisions with risk appetite – different perspectives
- Implementing ERM – tips and principles for success
WILLIAM (BILL) WESIOLY, CPA, CMA (Ontario) is a Risk Management consultant. His background is in the financial services industry, first with BMO and then with RBC.
The last 15 years of his banking career was in successfully building and leading risk management programs. He currently teaches with CPA Ontario and CPAs in other provinces including CPABC. His recent consulting assignments included Buduchnist Credit Union, Hillfield Strathallan College, Canadian Stewardship Services Alliance, Ministry of Environment Canada - Great Lakes Region, and the Ktunaxa First Nations. He has also recently published a Management Accounting Guideline for CPA Canada – A Practical Approach for Managing Risks in Small – Medium Size Organizations.