Enterprise Risk Management (ERM) Masterclass

Enterprise Risk Management (ERM) Masterclass

Become an ERM Expert: Proactively Safeguard and Advance Your Organisation

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Platform:
Online
In-class
Date Venue Duration
02 - 05 November 2026 Sandton, Gauteng 4 Days
18 - 21 January 2027 Sandton, Gauteng 4 Days
08 - 11 March 2027 Sandton, Gauteng 4 Days
19 - 22 April 2027 Sandton, Gauteng 4 Days
31 May - 03 June 2027 Sandton, Gauteng 4 Days

Course Introduction

In today’s fast-evolving business landscape, Enterprise Risk Management (ERM) is essential to sustaining organisational resilience, protecting stakeholder value, and driving long-term success. This practical course empowers delegates with the knowledge and tools to implement and optimise robust ERM frameworks, with an emphasis on the internationally recognised ISO 31000 and COSO ERM models — used together deliberately, not redundantly: mature organisations typically apply COSO ERM for governance and strategic risk integration while using ISO 31000’s process for operational risk management.

 

Participants will discover proven methodologies for identifying, analysing, prioritising, and mitigating risks — building a risk-aware culture that turns uncertainty into strategic opportunity. You will learn how to design, embed, and continuously improve an ERM system tailored to your organisational context, including how King IV, and the emerging King V code, shape board-level risk governance expectations for South African organisations specifically.

 

Through expert-led sessions, hands-on exercises, real-world templates, and actionable tools, you’ll gain confidence to champion risk management, align ERM to business objectives, and respond effectively to emerging threats and opportunities.

Course Objectives

By the end of this Enterprise Risk Management (ERM) Masterclass, you will be able to:
  • Understand ERM Foundations: grasp key ERM concepts and the importance of a holistic risk approach organisation-wide
  • Integrate Leading Frameworks: decode and apply ISO 31000 and COSO ERM models, and understand how King IV/V's Principle 11 shapes board risk governance for South African organisations
  • Implement Effective Risk Processes: use advanced techniques for risk identification, analysis, evaluation, and treatment
  • Develop and Embed Risk Culture: shape risk appetite, build effective policies, and promote accountability from the boardroom to the frontline
  • Drive Performance and Resilience: align risk management with strategy, ensuring business continuity and regulatory compliance
  • Apply Tools and Templates: use practical resources, including AI-assisted monitoring tools, for immediate implementation and value delivery

Added Value

Delegates will leave with a comprehensive ERM toolkit, including:
  • Sample Risk Champion job descriptions
  • Risk committee terms of reference
  • Risk appetite statement templates and guidance
  • Horizon scanning and scenario planning guides
  • Best-practice checklists, assessment models, and policy samples

Who should attend?

  • Board Members & Executives
  • Risk Managers & Officers
  • Internal Auditors
  • Compliance Professionals
  • Project Managers
  • Senior Leadership, Departmental Heads
  • Anyone Responsible for Strategic Planning, Performance, or Risk Oversight
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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

Pacing note: This outline covers 17 modules across 4 days — denser than most comparable courses. The day groupings below are organised for a logical flow, but delegates and facilitators should expect a fast pace, particularly on Day 3.
Day 1: ERM Foundations, Culture, and Appetite
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, including King IV/V's Principle 11 on board risk governance (job descriptions provided)
Module 2: Risk, Risk Culture & Appetite
  • Risk definitions and the risk landscape
  • Risk profiles, risk dialogue, and shaping organisational risk culture
  • Establishing and reviewing risk appetite
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)
Module 4: The Risk Management Process
  • The step-by-step risk management cycle and core principles
Day 2: Risk Identification, Analysis, and the ISO 31000 Model
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 and AI-assisted horizon scanning
Module 6: Risk Analysis and Evaluation
  • Grouping, prioritising, and evaluating risks
  • Using risk registers, KRIs, and KPIs, including AI-assisted real-time KRI monitoring
Module 7: ISO 31000 (2018) Model
  • Structure and benefits of ISO 31000
  • Adapting to changing risk contexts
  • Key principles for embedding risk management
Module 8: Effective ERM Design and Operation
  • Design and operational principles for ERM
  • Best available information, inclusivity, continual improvement
Day 3: The ERM Framework, COSO, and Implementation
Module 9: The ERM Framework in Practice
  • Risk architecture, strategy, protocols
  • The six elements: leadership, integration, design, implementation, evaluation, improvement
Module 10: ERM Process Implementation
  • Scope, context, and criteria
  • The end-to-end risk management process: assessment, treatment, communication, monitoring, reporting
Module 11: COSO ERM Framework
  • Risk in strategic selection and performance
  • COSO components: governance, culture, performance, communication, review
Module 12: Key Components and Practical Application
  • Integrating governance, performance, and reporting
Module 13: ERM Implementation Success Factors
  • Organisational design, risk assessment, communication, monitoring, review
  • Oversight and reporting
Day 4: Pitfalls, Action Planning, and Risk Categories
Module 14: Common Implementation Pitfalls
  • Scope creep, unrealistic timelines, skills gaps, missing roles
  • Solutions and preventive strategies
Module 15: Action Planning for Implementation
  • Keys to practical ERM rollout
  • Culture-building, stakeholder engagement, coordination, and assurance
  • The role of internal audit in ERM
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.

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Success Stories

Discover how our courses enhance professionals’ effectiveness in their workplaces.

Central Bank of Lesotho

Fraud Risk Management

The Fraud Risk Management training was clear, practical, and very relevant to day-to-day work. Content was well structured and the real world case studies made concepts easy to apply. Presenter knowledge and engagement kept the session interactive. Overall a valuable program that strengthened my understanding of fraud detection, prevention, and regulatory requirements.

Central Bank of Lesotho

Fraud Risk Management

The facilitator was exceptionally good, approachable eloquent and was able to structure the course content to relate to our specific work designations, it was just perfect service delivery

Central Bank of Lesotho

Fraud Risk Management

Keep up the good work which I experienced during my training being training materials offered and great hospitality we received from all the staff members

Centenary Rural Development Group Ltd

Risk Management for Risk champions

Very informative course with good content and benchmarks of key players in South Africa. We are able to agree a plan on how to build an enterprise risk management framework for a developing group of companies. Several references to guide us and experienced Facilitators

GEMS

Auditing the ESG Process Masterclass

Very happy with the training. It was excellently delivered and comprehensively covered all critical aspects of ESG and effectively contextualised them within the environments of our respective organisations.

North West Gambling Board

Risk Management in the Public Sector

The course was eye opening and exceeded my expectations.

FAQs – Enterprise Risk Management (ERM) Masterclass

Master risk appetite frameworks, ISO 31000 standards, threat identification, and control evaluation. This enterprise risk management ERM masterclass equips leaders to build resilient organizational strategies.

What topics are covered in the Enterprise Risk Management (ERM) Masterclass?
The masterclass covers global ERM frameworks (such as ISO 31000 and COSO), risk appetite and tolerance alignment, risk identification and quantification, key risk indicators (KRIs), risk culture, scenario planning, and integrating ERM with business strategy.
Who should attend the Enterprise Risk Management (ERM) Masterclass?
This course is designed for Chief Risk Officers (CROs), risk managers, internal auditors, compliance officers, strategy directors, executive management, and professionals tasked with designing or enhancing their organization's risk framework.
What are the key learning objectives of this ERM masterclass?
Delegates learn to build enterprise-wide risk management strategies, align risk appetite with business goals, establish robust risk governance structures, track dynamic risk profiles, and transform risk management from a compliance function into a value driver.
How long is the Enterprise Risk Management (ERM) Masterclass?
The ERM Masterclass is structured as a comprehensive 5-day professional training programme incorporating practical tools, interactive scenario modeling, and real-world case studies.
What practical skills will delegates gain from the training?
Participants will gain hands-on skills in drafting risk appetite statements, building enterprise risk registers, formulating key risk indicators (KRIs), executing risk assessments, and preparing strategic risk reports for executive management and the board.
Can Prospen Africa deliver this masterclass as customized in-house training?
Yes. Prospen Africa can tailor the masterclass around your organization's specific sector risks, corporate strategy, existing risk governance policies, and internal reporting mechanisms.

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