Enterprise Risk Management

Building a sustainable risk management framework for private and public enterprises

Overview

Today’s citizens want an institution that not only manages the consequences of risk, but also anticipate and handle issues before they turn catastrophic. Effective risk management policies help to force all decision makers to think and work proactively.

Enterprise Risk Management (ERM) is a scalable, holistic approach to risk management that combines risk information from across the organization and uses this to meet business objectives and drive business performance and growth by embedding and aligning risk management in business processes.

The ultimate success of any organization’s ERM program depends on how well its people actually apply the ERM discipline. To be "satisfactory," a firm needs an acceptable organizational structure and an appropriate risk management framework, including supporting processes. To be "strong," a firm needs to add to that list a strong risk culture and an influential and highly effective risk management organization.

Despite the growing attention to risk management and the important role it plays in organizations, many institutions are way behind. Institutions in Trinidad and Tobago (public and private) accept that they must take risks (strategic, financial, operational etc.) to generate superior returns for itself and its stakeholders. But they must do this while reducing expenses, protecting its people and other assets, increase productivity and efficiency and deliver quality products and or services.

Learning Objectives

By attending this workshop, managers/ executives and others responsible for developing and implementing ERM, or those wanting to develop ERM will learn to:

  • Improve organisational decision-making and the bottom line
  • Ensure effective governance and compliance controls are in place
  • Learn how to conduct an effective enterprise risk assessment
  • How to identify organisational operational risks
  • Accurately assess your organisation’s risk management needs and customize a program suitable for its unique challenges
  • Enhance the risk culture of the organisation (critical to an effective risk management program)
  • Prepare your organisation to meet regulatory and Legal requirements, incorporating flexibility for future changes
  • Implement proper oversight and accountability standards throughout the organisation
  • Implement performance indicators to assist in managing risks and increase productivity

Target Group

Executives, directors, and managers in risk management, strategic planning, finance, audit, legal, protective services, compliance and consultants

Course Outline

Topics covered in this 3- day Workshop are as follows:

  • Overview and advantages of ERM
  • Business Continuity as part of the ERM framework
  • Implementing an effective risk management framework
  • ERM and the audit functions
  • How to conduct an enterprise risk assessment
  • Risk Culture building that will aid in increasing efficiency and productivity
  • Establish internal and external contexts of risk culture, and sustainable development of ERM and strategic planning
  • Identify, analyse and evaluate risk
  • Select and implement appropriate risk management techniques, i.e. mitigation, crisis communication and alternative risk transfer options
  • Monitor results and review plan to ensure corporate governance and compliance
  • Communication with internal and external stakeholders
  • Review and analyse case studies

Facilitator's Bio-Sketch: Mr. Ken Hackshaw

Mr. Hackshaw returned to Trinidad and Tobago in 2008 and currently serves as Managing Director and lead consultant at KHBC Limited, a risk management consulting company. Mr. Hackshaw is a course lecturer at the Arthur Lok Jack Graduate School of Business (UWI) in Enterprise Risk Management and Operational Risk Management. He is also an adjunct Lecturer for post graduate studies at Costaatt and the Principal Consultant and Director of Studies at the recently formed Trinidad and Tobago Risk Management Institute.

His career was built over the last 23 years working in the United States and London in the field of Operational Risk Management, International Operations, and Business Process Re-engineering An organizational change architect and Operational Risk Practitioner, Ken’s highlights include;

  • Senior Risk Analysts, Depositary Trust and Clearing Corporation, New York. Assisted in the development and implementation of Enterprise Risk Management (ERM) methodologies to track, document and report on risk trends and internal controls. Conducted risk assessments for all subsidiaries of the company. Worked closely with New York State Banking authorities, Federal Reserve Bank and Securities Exchange Commission.
  • Vice President, Deutsche Bank, worked in both the New York and London offices as Operations Manager for International Securities Processing and Settlement, Product Management and Risk Management.
  • Vice President, Electronic Data Systems (EDS), Senior Operations Manager, Cash Management Services, Business Continuity Planning and Risk Management.
  • Assistant Vice President, Bankers Trust Company, New York, Head of International Operations and Securities Processing and Settlement.

Mr. Hackshaw holds a Bachelor of Science degree in Business Management, a Diploma in Law from the University of London and advanced training and certification in Operational Risk Management, International Securities Processing and Project Management. He also recently completed his LLB in law through the University of London.

Ken is a member of the Risk Management Association (RMA), The Institute of Risk Management (IRM) and the Global Association of Risk Professionals (GARP) in the United States and has spoken at conferences on Operational Risk Management and the use of Key Risk Indicators (KRI’s) in identifying operational risks. He is also a member of the Institute of Internal Auditors (IIA). Ken is also a part time faculty member of The International Governance and Risk Institute in the UK.

Details

Date 19th - 21st November, 2014 - View Event Calendar
Time 8:30 pm – 4:30 pm
Duration 3 Days
Cost TT $4,200.00 (inclusive of training materials, refreshments and Certificate of Participation) 
Please note that prices are subject to change without notice.
Venue Arthur Lok Jack Graduate School of Business
South Campus,
Marabella

Contact

Tel: 645-6700
Fax: 658-2871

Coordinators:

Talia Dass ext. 307
Naiee Persad-Singh ext. 310
Direct Line 658-7862

E-mail: t.dass@lokjackgsb.edu.tt or n.persadsingh@lokjackgsb.edu.tt

Certification

Certificates will only be issued to participants who have attained a minimum attendance rate of 75% for the duration of the course.

Course Cancellation/ Reschedule Policy

Arthur Lok Jack GSB (ALJGSB) reserves the right to cancel training at any time. If ALJGSB cancels the training due to unforeseen circumstances beyond the control of ALJGSB, you are entitled to a full refund of the course fee, or your course fee can be credited toward a future training, based upon availability (providing payments have been made before original advertised date).

ALJGSB reserves the right to reschedule training at any time. If ALJGSB reschedules training due to unforeseen circumstances beyond the control of ALJGSB, the training will take place at the next available time. Participants will be informed via phone and/or e-mails.

 

  

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