Risk Management in Practice Workshop Series: Risk Leadership – Optimising Entity Value through Board Driven Risk Appetite

Liz Taylor Risk Consulting, in partnership with The Institute of Risk Management will be running a one-day workshop on Risk Appetite.

Does your Board / Executive Committee “Endorse” or “Determine” your entity’s risk appetite? What difference does it make? How can your Board/Executive Committee get actively involved?

The need for effective risk management has never been greater as organisations operating in the 21st century continue to face a turbulence of uncertainty that challenge their very essence.  In fact where organisation’s have not managed this challenge the story is similar – the result of risk taking by people who failed to assess or acknowledge both the opportunity and the possible consequences of their individual and/or collective actions. In the end it is the human element that leads to success or otherwise – it is about enabling people to consistently evaluate the circumstances and make the best decisions possible for the business and all its stakeholders. But how can your organisation enable this type of optimal decision making?

Optimal risk decision making can only be achieved by an organisational culture that understands, embraces and consistently applies the risk appetite to decisions and actions. And, this culture requires leadership from the top of the organisation so that management & employees are encouraged to do the right thing and make the right decisions in relation to the entity’s value generating activities. Yet in many organisation’s the “tone at the top” is one that is driven by management driven frameworks seeking approval at Board / Committee meetings that already have full agendas and limited focus on a concept that is nebulous even among risk professionals with many years experience. Furthermore, how can organisation’s align the risk attitudes of the collective before understanding the individual risk attitudes of Board members that may not even be congruent? How can the Board discharge its responsibility for determining the nature and extent of the significant risks it is willing to take in achieving its strategic objectives which is now a requirement of the revised Corporate Governance Code and various voluntary codes and statutes?

Put another way, the challenge facing Boards today is how to effectively provide leadership to the organization’s enterprise-wide risk management in a way that balances managing risks while adding value to the organization (COSO 2009).

Attend this workshop if you want to help your Board / Executive Committee be actively involved in the development of the organisation’s decision agenda (risk appetite) to enable the allocation of risk informed decision rights to various levels of the organisation.  Hands on tools and activities to successfully prepare and facilitate a board/committee risk appetite workshop.

More information is available about the workshop by clicking here.

Course Times

Registration and arrival refreshments between 10:00 to 10:15 with the workshop commencing promptly at 10:15 and due to finish at 17:00

Fees

IRM Members £295+ VAT

Non Members £375 + VAT

Dress Code

Smart Casual

Spaces are limited for the workshop and will be allocated on a 'first come first served' basis, therefore you are strongly advised to book early to secure a place.

In-House Training Course

We can also facilitate in-house courses tailored to meet organisational requirements.

If you are interested in exploring this opportunity please contact Tina Asgari on tina.asgari@theirm.org for

further information.

Please note that in-house courses are based on 5 – 16 delegates.