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Indian Institute of Management Bangalore

Enterprise Risk Management

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Description

In today’s highly competitive and volatile environment, risk is an integral part of every business. Occurrence of unanticipated risks and ad-hoc handling of events increase the impact of risks due to poorly planned / executed responses. While some elements like financial risk, exchange risk, health and safety have traditionally been assessed, other more important elements particularly strategy are often not covered. This piecemeal approach leaves the organisation exposed to significant uncovered risks. Proper risk management provides a mechanism for identifying risks which represent potential pitfalls. There is a need to adopt holistic approach to risk management.

Enterprise risk management is a comprehensive framework for implementation of risk management practices in organizations. It is a disciplined approach to risk and leads to lowering of risks which are not commensurate with rewards. Managing various risks is the key element for survival and sustained growth in organizations that can ultimately create value for its shareholders.

PROGRAMME OBJECTIVE

  • To help the participant develop a comprehensive understating of risks in organisation
  • To analyze and interpret risk matrix.
  • To move beyond compliance to value protection
  • To understand the quantification of risk
  • Determining and setting risk appetite and fixing the right level of management for risk acceptance

CONTENT

The programme will cover the following broad areas:

  • Overview of Enterprise Risk Management
  • Understanding different categories of risks and key factors for successful mitigation
  • Different frameworks for risk management including COSO framework
  • Current practices in risk management.
  • Determining Risk Impact and Probability.
  • Principles for evaluating inherent risk

Who should attend

Enterprise risk management is a comprehensive framework for implementation of risk management practices in organizations. It is a disciplined approach to risk and leads to lowering of risks which are not commensurate with rewards. Managing various risks is the key element for survival and sustained growth in organizations that can ultimately create value for its shareholders.

Experts

Padmini Srinivasan has varied professional interests in teaching, research and consulting in the areas of Financial Reporting, Management Accounting, Corporate Governance and accountability. Prior to joining IIMB, she worked in the industry for more than 14 years in various positions in Tre...
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