Risk Management

Workshop dates:

Johannesburg:  For future dates email customerservice@norcazacademy.co.za
Durbanville, Cape Town:  For future dates email customerservice@norcazacademy.co.za

Course Fee: 

Single: R9,500.00 (R10,830.00 incl. VAT)
Group booking of 5 or more delegates:  R8,500.00 (R9,690.00 incl. VAT) per delegate.

In-House Training sessions: available on request – send an e-mail with specifications to admin@norcazacademy.co.za

Duration: 3 Days

 

Introduction

Risk management is inseparable from the company’s strategic and business processes.

A considered and systematic approach to risk underpins the success of the company.  The board is expected to exercise duties of care, skill and diligence in identifying, assessing and monitoring risks as presented by the management.  Delegates will be given an overview of King III in this regard.

Risk management is the practice of identifying and analysing the risks associated with the business and, where appropriate, taking adequate steps to manage these risks and may imply the elimination or mitigation of particular risks. It may also imply increasing the risks accepted as a measured and calculated move to benefit from a forecast outcome. The costs arising from risks flow not just from the harm from unforeseen events, but also from the failure to capitalise on foreseeable opportunities or situations.

Risk management should be intrusive and should not be viewed only as a reporting process to satisfy governance expectations. The objectivities of risk management should seek to provide interventions that improve the balance between risk and reward within the company.

Risk management is important to companies of all sizes and complexity and is essential for smaller companies with traditionally higher rate of business failure or missed opportunities. These companies may find it easier than their larger counterparts to adopt more aggressive risk management policies.  Time constraints and scarce resources (such as capital) may have a negative effect on these companies’ ability to implement appropriate and effective risk management.

Course Objectives
  1. Assist risk practitioners and line management to understand their roles
  2. Enable organisations to set up and align their risk functions
  3. Ensure that policy and procedures are in place
  4. Understand the new role of internal audit
  5. Accept that risk management has numerous benefits and is not only a compliance activity
Target Audience
  • Risk and Finance Managers
  • Line Managers
  • Internal auditors
  • Government Departmental Heads

This course is also offered in-house and can be customised to include specific examples and exercises based on the organisation’s activities.

COURSE OUTLINE
Module 1:  Introduction – Cover of Corporate governance principals of  risk
  • Board responsibility regarding risk
  • The benefits of a risk management system
Module 2:  Setting up process
  • Defining risk management structures
  • Risk policy
  • Developing the risk management function
  • Compiling Risk committee charter
Module 3:  Identification and assessment
  • Strategic risk identification and strategic risk assessment
  • Value Chain risk identification and Value Chain risk assessment
Module 4:  Mitigating risk and contingencies
  • Value at risk (VAR)
  • Determining risk indicators
  • Effective mitigating actions
  • Assigning accountability
  • Determine effects
  • Plan for contingencies
Module 5:  Implementation and monitoring
  • Risk management function
  • Risk auditing
  • Risk reporting
Module 6:  Ongoing risk management
  • Continuous improvement
  • Aligning performance and risk
Feedback on this course from previous delegates:
  • Very thorough, knows the subject matter very well
  • An Excellent course.
  • Very good.
  • Good and very informative.
  • It has beneficial insights.
  • Very informative and the facilitator knows his subject very well – was congruent with his audience.
  • It was great, I enjoyed it and the facilitator is quite clued up.
  • Good course – highly recommended.
       
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