ENTERPRISE RISK MANAGEMENT CERTIFICATION COSO

TRAINING OVERVIEW

The “COSO Enterprise Risk Management Certification” Training by DixonTech offers a comprehensive understanding of modern business risk management. Renowned expert Peter Drucker once emphasized, “The greatest danger in times of turbulence is not the turbulence itself, but to acting with yesterday's logic.” In today's dynamic landscape, effective risk management is essential. The COSO Enterprise Risk Management (ERM) Framework provides a structured approach. Even organizations using the AS ISO 31000 framework can benefit from COSO's approach. This course explores the 2017 ERM framework, empowering participants to integrate it into their organization's strategy-setting process. The ERM Framework simplifies risk management for management and boards of directors, facilitating better strategies and decision-making. Through self-study pre-work and interactive workshops, participants gain the knowledge and skills to apply COSO’s Enterprise Risk Management framework effectively.

TRAINING TOPICS

• ERM Framework Overview
• Governance and culture
• Strategy and objective-setting
• Performance
• Review and revision
• Information, communication, and reporting

By the end of this training course, delegates will be able to

• Analyse the value of enterprise risk management when setting and carrying out strategy and objectives.
• Apply the integration of enterprise risk management with strategy and performance.
• Demonstrate familiarity with the concepts of the ERM Framework, including components and principles.
• Apply the concepts of the ERM Framework to various situational examples 

TRAINING IS TAILORED TO

• Team members who play a risk management role in entities of any size
• Consultants who provide advisory services related to enterprise risk management
• Board members who provide oversight of enterprise risk management 

TRAINING METHODOLOGY

The “COSO Enterprise Risk Management Certification” Training by DixonTech offers a comprehensive methodology to equip participants with skills for implementing the COSO Enterprise Risk Management (ERM) Framework. Through self-paced online modules and interactive workshops, participants engage in immersive learning experiences. Instructors guide them through case studies and practical exercises, facilitating application of theoretical concepts. Participants also receive support through study guides and reference materials. This approach ensures a thorough understanding of the COSO ERM Framework for effective application in professional roles.

DAY 1:

AN OVERVIEW OF THE ERM FRAMEWORK

• Recognize the value of enterprise risk management when setting and carrying out strategy and objectives.
• Recognize the alignment of performance and enterprise risk management.
• Identify key terms, definitions, and concepts of the ERM Framework.

THE GOVERNANCE AND CULTURE COMPONENT

• Recall key concepts included in the ERM Framework related to the governance and culture component, including relevant principles.
• Apply the concepts of the ERM Framework for the governance and culture component to various situational examples.

DAY 2:

THE STRATEGY AND OBJECTIVE-SETTING COMPONENT

• Recall key concepts included in the ERM Framework related to the strategy and objective-setting component, including relevant principles.
• Apply the concepts of the ERM Framework for the strategy and objective-setting component to various situational examples.

THE PERFORMANCE COMPONENT

• Recall key concepts included in the ERM Framework related to the performance component, including relevant principles.
• Apply the concepts of the ERM Framework for the performance component to various situational examples.

DAY 3:

THE REVIEW AND REVISION COMPONENT

• Recall key concepts included in the ERM Framework related to the review and revision component, including relevant principles.
• Apply the concepts of the ERM Framework for the review and revision component to various situational examples.

DAY 4:

THE INFORMATION, COMMUNICATION, AND REPORTING COMPONENT

• Recall key concepts included in the ERM Framework related to the information, communication, and reporting component, including relevant principles.
• Apply the concepts of the ERM Framework for the information, communication, and reporting component to various situational examples.

DAY 5:

A CASE APPLICATION TO IDENTIFY PERFORMANCE IMPROVEMENTS IN ERM

• Recall concepts included in the ERM Framework.
• Apply concepts from the ERM Framework to the situational case presented.