Risk Management in Practice Workshop Series

Developing and Implementing Key Risk Indicators to Improve Risk Management and Organisational Performance

In an increasingly complex and uncertain commercial, regulatory and geopolitical environment organisations need to be prepared for uncertainty rather than merely concentrating on the same old risks. With little or no warning, organisations can stumble and even collapse because of unexpected events. Major operational mishaps that have emerged over the last couple of years continue to wreak havoc in organisations globally - Key Risk Indicators (KRIs) are a key component  of sound risk management practice.

The more you know of your organisation and the better you have defined your system, the more competitive you are and efficient at meeting stakeholder expectations. The demand for KRIs is growing, fuelled by increased stakeholders, regulatory and public scrutiny. The need to develop robust risk management tools has never been greater! Whether your goal is to capture your operational issues, control your internal sign off or measure the economic and stakeholder impact of your risk, KRIs provide the crucial monitoring tool to track changes in risk levels to enhance your risk management and ultimately your organisation’s performance.

At the completion of this workshop you will be able to:

• Understand the business operations and integrating Key Risk Indicators (KRI)s into your risk management program
• Identify and develop KRIs and risk mapping strategies to benchmark progress of  risk management
• Uncover high risk hotspots of risks and be able to anticipate a potential problem before it occurs
• Master risk concepts, its drivers and methodologies that enables KRIs framework to be built
• Recognise risk management strategies that align with business performance and governance structure
• Embrace innovative solutions for your most pressing KRIs and risk management issues to drive business continuity efficiency
• Be “au fait” with operational risk trends and ways forward for innovative companies
• Determine the measures in selecting KRIs and other insights into future loss events
• Fully comprehend the methods and strategies to use KRIs efficiently
• Identify the predictive capability of Risk Indicators and the accuracy in the potential operational hotspots
• Absorb the importance and value of KRIs and put them in the right perspective
• Collect the right information and work with effectiv
• Improve the risk reward relationship as a result of monitoring KRIs

Topics covered:

• Differences between KRIs and KPIs
• Preparing for KRI development
• Indicator development
• Risk management
• Indicator quality assessment
• Indicator operationalisation and integration
• KRI’s and risk assurance
• Overview – facilitators guide to KRI workshops

The price is £225 (+VAT) for IRM members or £275 (+ VAT) for non-members.

This workshop series can also be run in-house. For more information about this, or to make any enquiries, please contact courses@theirm.org.

If you would like to be notified when the next date is arranged for this popular workshop, then please contact courses@theirm.org.