Organisations globally are evolving a more common view of the purpose, function, and value contribution of operational risk management (ORM). ORM programs have continued to mature with a focus on the identification, measurement, and communication of operational risk exposures. The most commonly cited key obstacle to the successful implementation of ORM is a lack of overall awareness and knowledge of Operational Risk Issues among senior staffers. In order for the full value of these ORM programs to be realized, Management and Risk Management professionals must guide the firm in linking ORM performance to the performance of the firm. To achieve this, the relevant senior team members must possess a sound grasp of the various quantitative and qualitative ORM tools (absolute vs relative measures, establishing practical Key Risk Indicators (KRIs), Advanced Risk Appetites, Stress testing and scenario analysis, etc.) in order to guide the Board and Organisation on its journey towards operational excellence.

Cybersecurity threats exploit the increased complexity and connectivity of systems, placing the organisation’s sustainability, performance and viability at risk. This module has been designed to enable Risk and Management professionals to better assess the cyber-resilience and exposures of their organisations and to design and implement effective cybersecurity mitigation and governance plans for their organisation. Participants will also be grounded in selecting, designing and implementing a practical Cyber Risk Maturity framework for their organisation and exposed to various cyber threat scenarios as well as the importance of ensuring the various perimeters within and without the organisation are secure. With so much at stake for a business – financial loss, operational disruption, competitive disadvantage, legal liability, and harm to corporate reputation – the question for corporate directors and officers is not whether to become involved in cyber risk management, but how to appropriately implement and oversee their company’s initiatives.

Anyone involved in ERM or embarking on a career in ERM must have a sound practical grounding in the theories and practices of ERM – and its linkages to other relevant and associated disciplines and standards (e.g. BCM). When implemented and utilised properly, ERM can become a driver for Commercial Sustainability as well as Organisational Agility and Resilience. This program coaches participants in how to achieve all of this. The module explains and re-emphasises the fundamentals of ERM, and shows how it can be utilised to drive strategy, performance, and the linkages to corporate governance and internal controls. Participants will also be taught how to apply strategic risk management concepts to enhance decision making processes and to add value to the business.