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Risk Appetite and Strategy Masterclass

2 Day Training

Dates: 27 – 28 June | 21 – 22 October 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on Request

Course Introduction

Risk appetite is a pivotal component of every Enterprise Risk Management (ERM) framework and is integral to many corporate governance codes. While it can be a complex concept, it must remain measurable. This 2 day Risk Appetite and Strategy masterclass is designed to offer practical insights into identifying, validating, developing, and documenting risk appetites for various strategic, operational, and financial business decisions. The Prospen Africa team pledges to deliver an outstanding and memorable workshop experience.

Course Objectives

Participants of this Risk Appetite and Strategy Masterclass will be empowered to:

  • Develop effective and efficient risk appetite frameworks that align with organizational strategy and objectives.

  • Implement, evaluate, and enhance the existing risk appetite and risk management systems, fostering robust governance within the organization.

  • Embed ERM and sound governance principles across the organization.

Who should attend?

  • Directors of the Board and Board Committees

  • Senior Management

  • Risk Managers and Chief Risk Officers

  • Internal and External Auditors

  • Audit Committee Members

  • Compliance Managers and Teams

  • COO and Operations Executives

Audit, Risk and Governance courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Module 1 – The History of Risk Appetite as a Tool

  • Understanding consistent risk appetite vocabulary (risk appetite, risk tolerance, and risk limits).

  • The regulatory framework underpinning risk appetite (including ISO 31000, COSO guidance, OCEG, IRM).

Module 2 – Decision-Making Dynamics in Business

  • Examining the relationship between management and shareholders in decision-making.

  • Exploring decision quality, conflict of interest, fraud, and cognitive biases affecting choices.

 Module 3 – Rethinking Risk Appetite

  • Viewing risk appetite through different lenses: as a shareholder, management, and regulatory tool.

Module 4 – Identifying Current Risk Appetites

  • Reviewing existing policies and procedures to discern how they reflect risk appetite.

  • Identifying types of business decisions made by management and associated authority levels.

Module 5 – Validating Risk Appetite

  • Ensuring existing risk appetites align with regulatory requirements, risk profiles, and stakeholder expectations.

Module 6 – Quantifying and Documenting Risk Appetite

  • Addressing “zero tolerance” risks.

  • Establishing qualitative and quantitative risk limits.

Module 7 – Reviewing and Updating Risk Appetite

  • Integrating risk appetite into existing policies and procedures.

  • Auditing risk management effectiveness and fostering relationships with internal and external auditors as well as regulators.

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