Course Overview
The course, split across two modules will help raise awareness of the participants on risk management and governance concepts as well as some of the leading practices in risk management and governance from across the sector
Course Objective
The purpose of this training is introduce key risk management and governance concepts to the participants, to enable them to identify and manage risks in their own units/ functions and to equip them to contribute to the effectiveness of the risk management and governance mechanisms
Course Highlights
- Activity where participants will draw a risk profile for their unit/ function and few teams will present their profiles to all the participants
- Risk management experts/ specialists to lead the session on COSO 2017
- Practical examples and scenarios on ethical dilemmas faced by organizations and other corporate governance issues
By the end of this session participants should be able to:
Understand their organisation's approach to risk management and governance
Understand how risk management affects decision-making
Develop an understanding of the core components of a robust governance framework
Obtain and overview of some of the leading practices in risk management and governance from across the sector
Appreciate their role in contributing to the effectiveness of the risk management and governance mechanisms
All participants from the Finance Function: Account Payable, Accounts Receivable, Record to Report
Module I: 5 hours
Module II: 3 hours
Module I: Risk Management
- Introduction to risk management
- Categories of risks: strategic, financial, operational and compliance
- Introduction to the COSO 2017 Risk Management Framework
- Understanding risk appetite
- Risk culture
- Integrating risk into strategy and performance
- Evolving role of technology in managing risk
- Best practices in risk management from across the sector
Module II: Governance
- The 3 lines of defense mechanism
- Principles of corporate governance (independence, accountability, transparency etc.)
- Elements of a robust corporate governance framework
- Ethics framework
- Regulatory compliance management
- Evolving role of the Board and key questions Boards are asking Finance Teams
- Best practices in governance from across the sector
