Enterprise wide Risk Management (ERM) enables the banks and financial institutions to move away from the “silo” approach to risk management towards the “holistic” view of enterprise wide risks.
Besides managing the overarching risks, enterprise wide risks and risks in the overlapping spaces ERM sets the tone for risk governance and planting & nourishing of risk culture, and uniformity in risk language across the organizations. It reconciles the divergences & contradictions amongst different assumptions and underlying data sets used by different risk groups to build analytical models for the management of risks within their own silos.
ERM helps the banks and financial institutions eliminate the duplications and redundancies in risks & related control procedures that exist mainly because different groups define same risk differently and implement independent control procedures.
The program aims at strengthening and reinforcing the learning of the participants about Enterprise Risk Management (ERM).
Key topics and issues to be covered in the Program are the following:
· An overview of ERM, Integrated Risk management and Traditional Risk Management
· Creating a standardized enterprise-wide risk framework i.e. views of risks, including common definitions, assumptions and analytics
· Setting risk objectives – alignment with corporate objectives, risk appetite and culture
· ERM & Pillar 2 of Basel II and Basel III
· Strategic Risk , Business Risk and Reputational Risk
· Developing organization wide risk culture and promoting use of common risk language
· Technology risks, cyber risks, outsourcing risks etc.
· ERM Solutions