Adopting Strategic Risk Management to Achieve Effective Enterprise Governance, Compliance and Reduce Corporate Exposure

Why Should You Attend:

This course provides a practical approach to upgrade your risk management approaches to cope with the complex global and regulatory environment within which organizations must function at present. The guidelines will enable executives and managers to develop plans for the adoption of a well thought out top-down, enterprise-wide and strategic level risk management approach to protect the organization.

For success, wise organizations (profit and non-profit) must identify, recognize, assess and mitigate or minimize all types of treats and risks that are a serious impediment to achieve the key corporate business goals and objectives.

Organizations of all types function in an imperfect business world full of unavoidable threats of all types. Failure to address the presence of these threats is a sure prescription to fail to achieve the full gains that the Board and senior management aim to meet the critical set of business goals and objectives.

The traditional way organizations have tried to deal with this problem is through some form of “Risk Analysis and Management” procedure.

Unfortunately, the past approaches to risk management are increasingly outdated and ineffective to deal with the new domestic, global, technological and regulatory threat and risk environment that organizations of all types must operate in today’s business world.

Additionally, traditional risk management practices suffer from these glaring deficiencies:

• They are conceived and implemented at a very low “operational” level without the benefit of a strategic, top-down view and guidance
• Risk management practices are conceived in a very “disaggregate and siloed” approach
• They lack a directional input from and without the active involvement top management
• Risk management programs are not conceived to respond to the most fundamental Corporate “business and enterprise-wide” Goals and Objectives
• The responsibility for a “top-down” vision of risk management is sorely lacking
• Risk management procedures lack uniformity and there are as many procedures used as there are employees responsible for doing risk management
• Most of all, past risk management approaches do not prioritize the allocation of limited resources to the most vulnerable and/or profitable areas of the risk panorama, thus resulting in a wasteful allocation of precious limited risk management dollars and resources.

This webinar reviews the inadequacies of outdated approaches to risk management now being still practiced by most organizations, reviews the inadequate organizational structures that prevail to practice sound enterprise wide risk management and points out the low value added of present and outdated practices.

The webinar next focuses on a modern approach to practice “Strategic and Top-down” Risk Management (SRM) that is anticipatory and preventive in nature that can materially contribute to pave the way for organizations to meet their strategic goals and “business” objectives that benefit the entire organization. This approach greatly improves the return on investment (ROI) by allocating precious resources to the most vulnerable and profitable areas of risk reduction and mitigation.

Learning Objectives :

• Delegates will gain insight on the nature of strategic risk management which is a major improvement over the traditional, siloed and lower level methodologies to practice risk management.
• The participants will gain a very clear understanding of effective enterprise risk management and risk analysis methods and how they can be applied to facilitate the cost-effective implementation of Governance, Risk and Compliance (GRC) programs intended to reduce company exposure. It emphasizes a top-down” vision of risk and risk management that responds to the clear view of strategic as opposed to low-level operational risk management vision that meets the needs of senior management all the way to the board and is enterprise-wide in nature.
• Delegates will grasp the concept of “Strategic Risk Management” (SRM) that leads to cost-effective operational management and reducing the barriers that unwanted threats bring to organizations and increase profitability.

Areas Covered in the Webinar:

1. The present and past outmoded approach and practices in risk management
2. What are the main deficiencies and inadequacies of the past cost ineffective risk management approach?
3. The losses from not practicing effective and strategic level risk management
4. The new Strategic Risk Management (SRM) approach that stresses a top-down and enterprise-wide or risk management and risk reduction that provides value added?
5. A comparison of the nature of traditional. Operation Risk Management (ORM) approach and the Strategic risk Management (SRM) approach
6. Organizational Structure Options to practice ORM vs SRM
7. The need for a C-Level Risk Management Function to conceive and implement SRM and facilitate the achievement of cost-effective corporate Governance-Risk Management and Compliance (GRC)
8. The advantages of establishing a Chief Risk or Chief Compliance Office to facilitate the implementation of sound corporate-wide strategic risk management?
9. What Are the Key Factors that Contribute to a Successful Strategic Risk Management?
10. Top-down Strategic Risk Management Provides an enterprise wide threats and risks panorama that enables the optimal allocation of precious limited resources to reduce and mitigate risk and losses and minimize wasteful siloed duplications in operational units
11. A plan of action to adopt and implement Strategic Risk Management
12. Example of tools and techniques to practice Strategic Risk Management
13. Questions

Who Will Benefit:

• Corporate and C-level executives
• Audit executives, chief auditors, internal auditors, IT auditors
• External or independent auditors, CPAs
• IT executives, CIOs
• Chief Security Officers (CSO), Chief Technology Officers (CTOs)
• Security, risk analysis and control professionals
• Corporate and IT Governance Officers, Chief Compliance Officer (CCOs), CFOs, Chief Risk Officers (CROs)
• System Quality Assurance and Standards Development professionals
• Technology acquisition team leaders and staff
• Technology Assessors
• Management Consultants
• Any User Department Manager responsible for risk management and development of risk management practices
• Legal officers
• Governance, Risk Management and Compliance (GRC) Professionals
• Any professional Interested in or dealing with corporate governance and risk mitigation

Javier Kuong
President and Principal Consultant, Management Advisory Services & Publications (MASP)

Javier F. Kuong, is the President and Principal Consultant of Management Advisory Services & Publications (MASP), an organization that for over 30 years has been devoted solely to consulting, training, publications, research and development in Enterprise and IT Governance, Compliance, Auditing, Risk Management, Security, and Business Continuity Planning on a global basis. His previous experience includes positions as CIO/IT Director, Senior Manager for an major four CPA firm, Consulting and Management training in the areas of his expertise. He is the author of 40 books and treatises, including 3 books on Sarbanes-Oxley compliance, GRC, IT Governance, and Internal Controls for SMBs (Small and Medium size businesses). He is also the editor of COM-SAC, Computer Security, Auditing & Control and CPR-J Contingency Planning & Recovery Journal. He has lectured in all regions of the world in Conferences, seminars and for many independent Professional Training Institutes and Professional Associations. He is the recipient of the New England ISACA Chapter.

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