ProspenAfrica | Training and Consulting Services Provider

Risk Management Training for Risk Champions

2 Day Training

Dates: 08 – 09 July | 06 – 07 August | 10 – 11 October | 02 – 03 December 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on Request

Course Introduction

Risk champions are integral to effective risk management. The Risk Management Training for Risk Champions course helps participants identify risks and opportunities and gives them the confidence to communicate and champion risk management issues within the organization. Participants will learn about risk management concepts and practical techniques to help influence and guide their colleagues. The course is delivered by a Risk Management expert and will be delivered in an interactive manner with a number of case studies being used.

Course Objectives

The Risk Management Training for Risk Champions will achieve the following:

  • Equip participants with the skills, knowledge, and leadership qualities required to champion various aspects of risk management within the triple context of business.

  • Enlighten participants on their key responsibility for involvement in instances where risk management efforts are being hampered.

  • Provide expert knowledge that will enable the provision of guidance and support to manage problematic risk areas and transversal risks that require a multi-participant approach.

  • Build capacity for understanding risk management concepts, principles, and processes.

  • Provide cognizance of the various enterprise risk maturity models and the progression pathway to higher mature risk levels.

Who should attend?

  • Risk Champions
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

Day One

  1. Understanding Risk & Risk Management

  • Definition of Risk

  • Definition of Risk Management and Enterprise Risk Management (ERM)

  • Introduction to the COSO Risk Management Framework & ISO 31000

  • ERM maturity models

  • Exercise: Definition of risk

  1. Enterprise Risk Management Policy

  • Summary of the ERM policy

  • Implications of policy violations

  • Case study: Violation of ERM policy

  1. Role of Risk Champion

    • Qualities of a Risk Champion

    • Performance management for Risk Champions

    • Importance of influencing risk culture

    • Case study: Effective risk championing

  1. Understanding the use of Risk Registers

  • What is a Risk Register?

  • Establishing a Risk Universe / Brainstorming on risks

  • Explaining the various parts of the Risk Register

  • Quality standards for Risk Registers

  1. Assessing Risk

  • Properly describing risks

  • Assessing likelihood of occurrence

  • Assessing impact of risk occurrence

  • Case Study: Risk Assessment

Day Two

  1. Responding to Risk

  • The 7 R’s and 4 T’s of risk management

  • Designing a Risk Response Plan

  1. 7. Risk Controls

  • Types of controls

  • Assessing the design & operating effectiveness of controls

  • Determining the residual risk

  1. Reporting and Monitoring

  • Risk Mitigation Plan

  • Reporting on risks

  • Frequency of reporting

  • Monitoring risks

  1. Action Planning

  • Action planning for Risk Champions

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