Strategic Risk Management

T: 971-4-3352437 F: 971-4-3352438 E: [email protected] W: www.iirme.com/srm

ManagementStrategic Risk

Interactive Exercises Every Day!

The Route To Business Success

Attend this informative course led by world renowned expert Phil Griffiths and learn how to:• Sell and measure the benefits of positive risk

management

• Engage the Board and Audit Committee in the risk process

• Identify, evaluate and manage the most significant risks including reputation, political, economic and information

• Increase the focus on and the delivery of strategic objectives

• Enhance the understanding of the risks and exposures faced

• Enforce the ownership of risks

• Build understanding of how risks are changing

• Integrate effective risk management into project development and partnership arrangements

• Build a full record of key risks

• Identify over-managed risks and unnecessary controls

8 – 12 June 2008JW Marriott Hotel, Dubai, UAE

Organised by Official Regional Recruitment Partner Official IT Partner Official Media Monitoring Partner

“It was an excellent experience which advanced my professional ability. Dr. Phil Giffiths is amazing when discussing modern challenges.”

Ghada Aref EliasCommercial Bank of Dubai

“Knowledge driven, open for exchange of information and experience.”

Mubasm Satti Nama Chemicals

E: [email protected] W: www.iirme.com/srm

Dear Assurance Professional,

In the ever-changing Middle East business environment, encountering risk is inevitable. The ability to manage these increasingly significant risks now represents the difference between a thriving organisation and one that is floundering in a sea of losses due to improper risk management.

Many businesses in the region have realised that the outcomes of both fortunate and unfortunate unexpected events can be preemptively molded into desired results. To act on this realisation, though, requires extensive knowledge of risk management tools and techniques. This is exactly what you will find at Strategic Risk Management.

It is important to understand that poorly informed or improperly executed risk management can mean disaster of incredible proportions. Conversely, a well trained and cognizant risk management team will enable your company to maintain and strengthen your edge over your competitors.

Moreover, studies have shown that financial risk is only the ‘tip of the iceberg’, as nearly 80% of key risks are not insurable. This critical 80% must be ‘insured’ internally with a capable risk management team.

Risk management has been catapulted from being a useful tool to becoming the very pulse of the organisation and the yardstick by which its management is judged. The key is to recognise that risk is not something that should be avoided – a risk is often an opportunity in disguise.

IIR’s Strategic Risk Management course has been specially designed to provide you with all the skills and tools you need to become a successful risk manager. It will show you how to identify and evaluate risks, as well as how to overcome them.

Phil Griffiths and I look forward to personally welcoming you in June.

Yours sincerely,

Keith ParkerConference Manager

P.S. Register now to gain a competitive edge through risk management with the internationally recognised Phil Griffiths!

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Mergers And Acquisitions 15 – 19 June 2008BC2621 www.iirme.com/mergers

T: 971-4-3352437 F: 971-4-3352438W: www.iirme.com/srm

Meet Your Expert Course Leader

Phil Griffiths is the founder and Managing Director of Business Risk Management Ltd.

A Chartered Accountant, he has over 25 years’ experience in risk management, internal audit and fraud prevention as a practitioner, professional adviser, facilitator and trainer. He has held top management positions with a number of international groups, in roles embracing Finance, IT and General Management.

His specialisms are: • Assisting Senior Management to identify, manage and then

exploit the risks within their business via facilitated Business Risk Management programmes

• Helping Internal Audit functions to implement world class standards

• Developing fraud prevention, detection and investigation programmes tailored specifically to clients’ requirements

• Training both private and public sector organisations in each of the above disciplines.

Phil is recognised as an accomplished and charismatic facilitator, trainer and lecturer having advised many renowned organisations, coordinated top-level events and addressed national and international conferences on a wide range of critical business topics.

He has worked extensively with all sectors in the Gulf during the past 10 years to enable such organisations to exploit their potential by managing their strategic risks and / or enhancing the effectiveness of their internal audit services.

He is a renowned author and writer – his latest book ‘Risk Based Auditing’ was published in 2006.

Who Should Attend?

Any executive or manager tasked with establishing, implementing or facilitating a business risk process or anyone tasked with providing assurance to senior management that the significant risks are being managed appropriately.

Course OverviewBy attending this course, you will learn how to:• Successfully evaluate the key risks identified• Explain the alternative risk identification methods• Assess risk mitigation practices and identify exposures• Deal with exposures• Engage stakeholders• Establish a risk strategy • Embed the risk management process into the corporate

culture• Explain the key features of the various standards (AUS/

NZ, IRM/AIRMIC, COSO, BASEL etc)• Cascade processes effectively • Engage partners in processes• Coordinate the efforts of the various assurance

providers


Day One: Sunday, 8 June 2008

Understanding Major Business RisksBreaking Down The Barriers • Why senior management often lack a full understanding of the

risks in their business. • The role and responsibilities of directors and the board with

respect to risk management• Definition of business risk and its nuances• Designing strategies and systems to suit the organisation• The key link between corporate governance and risk• Selling the benefits to top management• Defining significance in relation to risk (in monetary and other

terms)• Establishing a strategic business risk programme - the steps

to success Background• Why business risk management is receiving such publicity• High profile corporate failures and public embarrassments

Exercise 1 – The Major Risks In Your Organisation• The corporate governance debate • Explanation of the AS/NZS 4360 standard – the internationally

recognised risk management standard + COSO + IRM standards• Other potential legislation and regulation• The issues involved The Wider Business Agenda• The need to understand the organisation’s strategic objectives• Developing a programme to reflect these objectives• Understanding the organisation’s risk appetite• Categories of risk• The risk management framework

Exercise 2 – Analysing A Disaster• Risk management systems

Establishing An Embedded Risk Management Process• Why is risk such a hot topic?• Surprises and risk• Why financial risks are only the tip of the iceberg• The widening of the risk portfolio• The challenges: basel, governance, non-exec’s liabilities and

so on• The need to link risk management with strategic planning• New and emerging risks: reputation, social and environmental • Getting your chief executive’s support• Developing a risk strategy for your organisation• Establishing the business case• Selling the benefits to management• Risk and competitive advantage• Risk workshops – the do’s & don’ts

Exercise 3 – Risk Taking In Action

Day Two: Monday, 9 June 2008

Practical Identification And Evaluation

Risk Identification And Evaluation • Approaches and techniques• How to establish a risk workshop process

• The benefits of facilitation and the characteristics required• The use of diagnostic questions and thought-provokers• The pros and cons of using data capture technology• How to identify, sift and group the risks• Measuring the consequences and the likelihood of occurrence

of each risk• The use of risk matrices to prioritise the risks• Corporate governance reporting requirements

Interactive Risk Workshop – Part 1Exercise 4 – An Actual Risk Workshop – With Your Own RisksEnabling you to appreciate all elements covered in a live situation

Assessment Of Risk Mitigation• Managing risk – the options• Management evaluation of mitigation controls• How to assess risk mitigation• Identification of risk exposures• Critical evaluation of exposures• Dealing with the exposures (the 4 Ts - Terminate, Tolerate,

Treat or Transfer)• Establishment of action plans

Interactive Risk Workshop – Part 2Exercise 5 – Risk Mitigation And Dealing With The Exposures In Practice

Day Three: Tuesday, 10 June 2008

Integrating The Risk Management Process

Integrating The Output From Risk Workshops Into The Business Planning Process• Linking corporate risks with the strategic planning process• Linking operational risks into service planning• Risk owners – how to determine such personnel and enforce

ownership• Annual statements by risk owners• Developing risk tracking• Using the risk register as a decision skeleton• Quarterly board reporting to review progress in addressing the

exposures• Risk management committee reporting• Half yearly evaluation of key risks to ensure that new risks are

identified and included

Exercise 6 – Team Exercise To Enable You To Appreciate The Emerging Risks

The Converging Roles Of The Assurance Providers Under The Risk Umbrella• The increasing emphasis on governance, assurance and

control• How should the various assurance providers rise to the risk

challenge?• The need to coordinate quality assurance, security, insurance

and the health and safety functions in relation to risk management

• The need to avoid duplication of effort• How to spot the gaps • Linking external auditors into the process• The need to coordinate risk reporting

Course TimingsRegistration will be at 08:00 on Day One. All five days will commence at 08:30 and conclude at 14:30 with lunch. There will be two networking and refreshment breaks at appropriate times


Exercise 7 – How To Coordinate Assurance Across Your Organisation

People And Process Risks• Key risk themes and how to deal with them - Failure to manage projects effectively - Loss of IT systems - Failure of partners or inability to establish effective

partnering - Loss of key personnel - Hacking/ breach of system security - Failure to innovate - Poor prioritisation of systems development - Loss of morale/ stress - Too much data – insufficient information - E-Commerce – the key risks and the steps needed to

mitigate them - IT security – how to evaluate effectiveness and

influence change

Day Four: Wednesday, 11 June 2008

The Most Difficult Risks To Manage Reputation Risk• Definitions• The rise of reputation as a key risk• The increasing importance of a positive image – the need to

be admired• Reputation – the value measure of the 21st Century• Creating value from intangible assets• Where does reputation come from? • How do you measure it?• The magnifying effect on reputation of business failures• The explosion of regulation and external assurance

Exercise 8 – How To Judge Reputation• The court of public opinion• The relationship between vision, values, behaviour and reputation• The link between organisational personality, identity and image• Moving reputation out of the PR arena and into the boardroom• Damage by association – partnering and alliances• Identifying reputational risks

Exercise 9 – Reputation Workshop • Discussion of Delegates experiences• You will be provided a checklist for reviewing reputational risk.

The checklist incorporates sections on: - Financial performance - The senior management role - Quality of service provision - Treatment of staff - Social responsibility - Customer service - Information and communication Corporate Social Responsibility And Ethics• Corporate Social Responsibility (CSR)• Codes of conduct• Business ethics training• Inclusion of ethics criteria within performance review• The dangers of abusing leadership • Social responsibility as an agent for positive change and better

performance – the halo effect Corporate Governance• The increasing importance of Corporate Governance• Hawkamah research results• Record of accountability

• Protecting the financial position• Alliances, partnerships and contracts• Fulfillment of promises• External evaluation• Top down management of reputation• Media management• Business continuity• Crisis management strategy• Sharing of values• Treatment of staff• Attitudes of staff• Community and other stakeholder requirements• Environmentally responsible sources/ treatments • Customer service• Management of complaints • Communication – internally and externally• Carrying out a vulnerability audit Exercise 10 – Corporate Governance

Day Five: Thursday, 12 June 2008

Reporting And Cascading The ProcessRecording The Risk Environment• Risk registers – the need to coordinate and link the output• Flagging interdependencies – if one risk treatment is changed

the other party or parties impacted need to be notified• Risk treatment analysis – how to determine the cost/ benefits

of dealing with exposures/ exploiting opportunities• Risk management as a route to reducing bureaucracy• How to use the risk process to break down cultural barriers • Reports for senior management

Exercise 11 – Reports On Risk Management • Making risk management second nature • Keeping up the momentum• Risk financing and how to introduce the disciplines • Integrating incident management• Business continuity planning• Integrating health and safety, insurance claims and related items• Measuring the benefits

Exercise 12 – Measuring The Benefits

Cascading The Process• Stakeholders interest in risk• Workshops for other management levels• How to measure the benefits• Risk awareness for staff

Exercise 13 – Establishing A Risk Awareness Training Programme• Sharing output with partners • Evaluating risks within these relationships• Risk indicators (KPIs)• Auditing the risk management programme• The Internal Audit role in the risk management process –

guidance and advice• How to identify and reduce excessive controls• Feeding key risks up the organisation• Coordinating the whole process• Useful web sites and reference books• Managing stakeholder expectations• How to use the programme to change the culture in a positive way

Exercise 14 – The Puzzle - A Final Exercise To Put All The Issues Covered In Context


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IIR Holdings Ltd.PO Box 21743, Dubai, UAEGCS/IIR Holdings Ltd.PO Box 13977, Muharraq, Kingdom of Bahrainwww.iirme.com/srm

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PaymentsA confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges.

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CancellationIf you are unable to attend, a substitute delegate will be welcome in your place. If this is not suitable, a US$ 200 service charge will be payable. Registrations cancelled less than seven days before the event must be paid in full.

Avoid Visa Delays - Book NowDelegates requiring visas should contact the hotel they wish to stay at directly, as soon as possible. Visas for non-GCC nationals may take several weeks to process.Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers. F150

Event Venue:JW Marriott, Dubai, UAE Tel: +971 (0)4 262 4444

Accommodation Details

We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on:Tel: 971-4-4072693Fax: 971-4-4072517Email: [email protected]

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WEBBC2634

Event Date Price before 23 March 2008

Price between 23 March and 13 April 2008

Price after 13 April 2008

Strategic Risk Management

8 – 12 June 2008 US$ 4,250(Save US$ 500)

US$ 4,550(Save US$ 200)

US$ 4,750

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For further information and Group Discounts contact +971-4-335 2483 or email [email protected]

Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.

If you have eight or more delegates who need this training, contact IIR In-House on 971-4-3352439 or [email protected]

ManagementStrategic Risk 8 – 12 June 2008JW Marriott Hotel, Dubai, UAE

Strategic Risk Management

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Transcript of Strategic Risk Management