Chief Risk Officer (CRO) Programme

Euromoney Learning Solutions

How long?

  • 5 days
  • in person

Euromoney Learning Solutions

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About the course

Enhance your knowledge in strategic executive-level risk management

This course is designed to help participants understand the best-practice essentials of undertaking modern and strategic, executive-level risk management (i.e., Chief Risk Officer duties). In the course we learn how risk management should be defined and structured—both conceptually and functionally—so that a CRO can offer the best support to his or her business colleagues, CEO and board. In particular, we focus on how it is essential for the CRO to establish an effective, enterprise risk management (ERM) function that acts as a “strategic enabler”: focusing principally on addressing the challenges that impact the overall, corporate strategy and the achievement of business objectives. We explore everything from the tools and methods that a CRO must make part of his or her toolkit to the human resource and psychological challenges that he or she is likely to face in defining and establishing his or her CRO role.

Format: This course is specifically designed for virtual delivery with materials and sessions tested for applicability in a virtual environment. Participants will be guided through each phase and module. with numerous breaks and participation exercises (and assessments) aimed virtual knowledge transfer.

Key course highlights include:

  • Step-by-step guidance in how to design, develop, establish and implement an entire, enterprise-wide risk function from the board-level down to detailed operations
  • In-depth discussion of the roles and responsibilities of the CRO, the executive team colleagues, the CEO and board
  • Exercises in how the CRO is to implement the ERM Process Steps and align his or her risk function with the company’s strategic objectives
  • Introduction of various tools and methods for developing a risk strategy for the purpose of embedding risk within the organization and catalyzing oversight
  • An outline of the ideal reporting framework for a CRO, that is principally more strategic and forward-looking than traditional, backwards reporting
  • Guidance in how to address internal political as well as practical challenges in establishing an effective risk function and executing the CRO role
  • In-depth discussion of how to guide and instruct the board in the formation or restructuring of the risk committee, its agenda and purpose, in conjunction with its dependence upon the CRO
  • Learning how to develop the personnel and management structure of a risk function, from hiring, tooling and training to the equipping of risk analysts with the appropriate systems

Agenda

Day 1

Introduction

  • Course overview
  • Key takeaways

Fitting Into the Role

  • Challenges facing the CRO

    • Defining the CRO role and championing “risk” in the organization
    • Making risk strategic
    • Executing the role
    • Dealing with major challenges
  • Defining the CRO Role

    • Distinguishing the CRO from traditional “Head of Risk” roles
      • Forward-, not backward-looking
      • Strategic, not remedial
      • Tooled and professional, not merely experienced and conservative
      • Why capital and provisioning aren’t useful for CROs
      • Avoiding the traps:
      • Reviewing past exposures
      • Confusion with audit
      • Preoccupation with the irrelevant
      • Behaving like a policeman instead of a colleague
      • Failing to heed ignorance of risk
  • Steps to defining the role

    • New definitions: defining risk management
    • New concepts: Enterprise Risk Management (ERM)
      • What is enterprise risk management (ERM)?
    • New design: Establishing a collaborative, executive role
    • New purpose: Purely strategic focus
    • Defining the risk-related roles of the other executives, CEO and Board
  • In class exercise and readings

Day Two

  • Making Risk Strategic

    • Understanding how ERM is strategic
    • Performance and cascading of performance
      • Key performance Indicators (KPIs) and Key Risk Indicators (KRIs)
    • The ERM Process
    • Exercise: Implementing the ERM Process
    • Using a SWOT analysis
    • Developing a “risk strategy”
  • Executing the Role

    • The day-to-day of the CRO
    • Reliance upon the business, business reliance upon the CRO
    • Working with the board and the board risk committee
    • Working with internal audit and compliance
  • Dealing with major challenges

    • Non-acceptance
    • Improper positioning
    • Disasters and major losses that could not be avoided or are non-strategic
    • Poor internal governance
  • Case Exercise

Day Three

Building the Risk Function

  • Creating and/or restructuring the ERM Function

    • Structuring of the function
    • HR-related issues
    • Interaction with the business
    • Interaction with the board
  • The Board-level structures

    • Developing the Board Risk Committee
      • Who should be on the committee?
      • How should the committee work?
    • Acting as secretary to the Committee
      • Duties and exceptions
    • Creating a charter
      • Powers, voting powers and structure
    • Enlisting input from other directors
      • Responsibilities of executives to the Board Committee
    • Creating a board-level meeting agenda
      • Summaries and market dynamics
      • Connecting risk exposure to what director’s need to know
    • Guiding risk profile, risk appetite and risk tolerance-setting
    • Establishing an effective structure for board-level oversight
  • Developing a reporting apparatus

    • Content of a solid, risk strategy report
  • The Executive-level structures

    • The CRO and the EXCO
      • Membership but not voting rights
      • Supporting risk due diligence of strategic initiatives
      • Mapping out strategies
      • Strategic analysis
    • The practical matters of the team to support EXCO (“EXCO Analysts”)
      • How should the team members be selected?
      • How do they relate to the CRO and to their other executive bosses?
    • Working independently with other executive-team members
      • Interacting with other team members
      • Being supportive and not a policeman
      • Gaining trust
      • Case Exercise

Day Four

Skills that the CRO Needs

  • Non-Cognitive Skills

    • Leadership quality
    • Teamwork abilities and teamwork orientation
    • Attention to detail
    • Tireless, goal-centeredness
    • Humility
    • Emotional intelligence
    • Appreciation of the “Big Picture”
    • Rapport with difficult, business executives and the CEO
    • Conscious attitude to rooting out self-biases
  • Higher cognitive skills

    • Risk professional status
      • FRM, PRM other certifications?
    • Statistics and analytical orientation
      • Value-at-Risk (VaR) and tail loss essentials
    • Analytical abilities
    • Ability to review technical work
    • Sufficient understanding of technical aspects of the business
    • Predictive analytics
    • Performance analytics
    • Data and systems knowledge
  • Case Exercise and discussion of readings

Day Five

Knowledge of Risk Areas

  • Financial risk
  • Strategic risk
  • Operational risk
  • Emerging risks

Compliance (Examples) * Basel III * Dodd-Frank * Sarbanes-Oxley * Other issues and concluding remarks

Experts

Maurice Ewing

Maurice is a global management consultant, former banking executive and experienced, public company board member that has worked in over 60 countries. He has been an advisor and consultant to boards and executive teams with numerous, major banks, investment banks, central banks and investment fun...

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Chief Risk Officer (CRO) Programme at Euromoney Learning Solutions

From  GBP 4 895$6,907
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Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

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