Enterprise Risk Management (ERM) Masterclass

Module 1: Introduction to ERM

• What is Enterprise Risk Management?

• Benefits and drivers of ERM adoption

• The ERM lifecycle: scope, objectives, roles, and responsibilities

• Management, board, and risk officer roles (job descriptions provided)

• Exercises: Identifying key ERM roles and understanding core terminology

Module 2: Risk, Risk Culture & Appetite

• Understanding risk definitions and the risk landscape

• Risk profiles, risk dialogue, and shaping organisational risk culture

• Establishing and reviewing risk appetite

• Exercises: Building a risk profile and evaluating risk policies

Module 3: Defining and Communicating Risk Appetite

• What is risk appetite, and why does it matter?

• Distinguishing appetite, capacity, tolerance, and attitude

• Developing risk appetite statements (examples provided)

• Exercises: Facilitating board discussions and crafting your organisation’s risk appetite statement

Module 4: The Risk Management Process

• Step-by-step risk management cycle

• Core principles of risk management

• Exercise: Real-world challenges in risk control

Module 5: Advanced Risk Identification Techniques

• Top-down vs bottom-up identification

• Scenario planning, stakeholder analysis, interviews, workshops

• Quantitative and qualitative tools, including Monte Carlo simulation

• Exercises: Scenario planning and risk workshop simulations

Module 6: Risk Analysis and Evaluation

• Grouping, prioritising, and evaluating risks

• Using risk registers, KRIs, and KPIs

• Exercise: Risk register review and practical evaluation

Module 7: ISO 31000 (2018) Model

• Structure and benefits of ISO 31000

• Adapting to changing risk contexts

• Key principles for embedding risk management

• Exercise: Overcoming implementation barriers

Module 8: Effective ERM Design and Operation

• Design and operational principles for ERM

• Best available information, inclusivity, continual improvement

• Exercise: Applying design principles in your context

Module 9: The ERM Framework in Practice

• Risk architecture, strategy, protocols

• The six elements: leadership, integration, design, implementation, evaluation, improvement

• Exercise: Mapping your ERM framework

Module 10: ERM Process Implementation

• Scope, context, and criteria

• End-to-end risk management process (assessment, treatment, communication, monitoring, reporting)

• Exercise: Delivering an ERM process

Module 11: COSO ERM Framework

• Risk in strategic selection and performance

• COSO components: governance, culture, performance, communication, review

• Exercise: Case study in strategy and performance risk

Module 12: Key Components and Practical Application

• Integrating governance, performance, and reporting

• Exercise: Practical risk responses

Module 13: ERM Implementation Success Factors

• Organisational design, risk assessment, communication, monitoring, review

• Oversight and reporting

• Exercise: Communicating risk results

Module 14: Common Implementation Pitfalls

• Scope creep, unrealistic timelines, skills gaps, missing roles

• Solutions and preventive strategies

• Exercise: Avoiding project pitfalls

Module 15: Action Planning for Implementation

• Keys to practical ERM rollout

• Culture-building, stakeholder engagement, coordination, and assurance

• Role of internal audit in ERM

• Exercise: Designing an ERM implementation plan

Module 16: Types and Categories of Risk

• Strategic, operational, project, procurement, process, and reputational risks

• Risk categorisation models and interactions

Module 17: Course Assessment

• Team-based case studies to reinforce learning and demonstrate competency

Ready to elevate your risk management capability and drive sustainable value? This masterclass delivers everything you need to build, optimise, and lead effective ERM in your organisation.