Basics of Risk and Risk Management Process
Practical Guide on Risk Management for Risk, Cybersecurity, Finance, Compliance, and Audit Professionals and Students
Basics of Risk and Risk Management Process free download
Practical Guide on Risk Management for Risk, Cybersecurity, Finance, Compliance, and Audit Professionals and Students
Hello
Welcome to the 'Basics of Risk and Risk Management Process' Course.
This course will provide you fundamental knowledge and skillset necessary to understand Risks, Risk Types, Trigger Points, Sources, Causes, Risk Management, and Application of Risk Assessment Methodology for Risk Prioritization, and Mitigation. You will also learn how risks are documented and risk registers are prepared.
Find below more on the 'Course Topics' covered in this course.
WHY SHOULD YOU ATTEND THIS COURSE
Organizations, institutions, companies, and businesses around the world focus on and establish robust Risk Management Functions/Departments to implement strong 'Risk Culture' and 'Robust Risk Management Processes'. Organizations and companies hire an experienced and skilled 'Risk Management Team', to help owners/leadership in the identification, understanding, assessment, prioritization, and management of risks.
If you are working in Risk Management or pursuing a career in any of the Risk Management domains, such as Compliance Risk Management, Operational Risk Management ORM, Financial Crime Risk Management, Cybersecurity Risk Management, Fraud Risk Management, HSE Risk Management, Finance, Audit, or Internal Controls, you must have knowledge and skills to help people in your organization, in performing risk management process logically and conceptually.
THE 'IMPORTANCE' OF 'RISK ASSESSMENT AND RISK MANAGEMENT'
In today's dynamic world with increasing risks and incidences such as Fraud, Cyberattack, Health and Safety, etc. one of the major challenges for organizations, institutions, companies, and businesses, is to effectively 'Identify', and 'Assess' their risks. Risk Management Methodologies are rapidly evolving from outdated patchwork approaches to 'dynamic risk assessments'. Performing Risk Assessment and Management is not a one-time activity, rather it is an ongoing process.
Implementation of Risk Management Processes and Activities is one of the key regulatory requirements, especially applicable to highly regulated sectors/entities such as financial institutions, oil and gas, airlines, technology companies, manufacturing entities, etc.
Risk Assessment and Management activities are recognized as mandatory components of overall Enterprise Risk Management ERM, across all types of organizations, companies, institutions, or businesses. Regulated entities including Digital Payment Companies, E-Commerce Companies, Gateways, Banks, Insurance, Investments, Technology Companies, and those in the Manufacturing and Service sector, routinely conduct FRAs and report the findings to their Board of Directors and Senior Management. Organizations that fail to adopt a proactive approach to risk management, face increased exposure to regulatory non-compliance, financial losses, and reputational damage.
COURSE TOPICS, CASE STUDIES AND ASSIGNMENT INCLUDED IN THIS COURSE
This course will give you comprehensive 'knowledge and skills' to perform Risk Assessment RA. You will learn the 'Methodology' with a 'Sequential and Logical' process, to perform risk assessments. Remember that the 'Implementation of Risk Management Activities' requires the understanding of Risks, Types, and Sources of Risks, Risk Assessment Criteria, and Methodology, Application of Matrix for Risk Levels, and Scoring, Documentation of Risks and Controls, etc.
Your learning journey will provide you with knowledge and understanding of important concepts, including:
Risk Concepts Foundation
Risks and Risk Events
Types of Risks, and Significance
Sources of Fraud Risks
Key Risks Being Faced by Organizations
Risk Sources and Risk Management
Risk Sources and Purpose
Fundamental Steps of a Risk Management Process
Examples - Application of Risk Management Process Steps
Risk Assessment RA Comprehensive Methodology and Matrix
Understanding Risk Assessment
Understanding 'Risk Levels' with Examples
Understand the concepts of Inherent and Residual Risk Assessment - Likelihood and Impact Analysis with Examples
Understanding and Using Risk Matrix - '5 by 5' Risk Matrix and application of Matrix for Risk Score Calculation
Documenting Cause and Effect Risk Statements, for Risk Assessment and Checking the Operating Effectiveness of 'Controls' mapped with 'Risks'
Preparing a Risk Register after Inherent and Residual Risk Assessments
CASE STUDIES
Case Scenario 1: Performing a Risk Assessment, considering a 'Risk' Example
Case Scenario 2: Application of Risk Assessment Methodology, Performing Inherent and Residual Risk Assessments, and Documenting Risks and Controls in Risk Register
ASSIGNMENT
Work assignment to test your knowledge and skills in the identification of risks, documenting risks, and performing risk assessment.
DOWNLOADABLE RESOURCES
Downloadable Risk Assessment Matrix - '5 by 5' Risk Matrix
Downloadable 'Risk Levels with Examples'
Other Benefits
Lifetime access to the course
Certificate of completion of course etc.
Who Is This Course For?
If you are working in any of the following job roles or domains or if you are a student learning Risk Management, then this course is for you;
Professionals working in Financial Institutions, Regulatory Bodies, Technology, FMCG, etc.
Risk Management Professionals including Risk Management Heads, Risk Analysts, Operational Risk Management ORM Professionals, Risk Assessors, Risk Reviewers, Risk Management Consultants,
Compliance Professionals including Compliance Analysts, and Compliance Risk Management Professionals,
Fraud Risk Management professionals including Fraud Investigation, Monitoring and Fraud Risk Management Professionals,
Health and Safety Risk Management Professionals,
GRC Head, GRC Analyst and Managers, Cyber Security Risk Analysts,
Finance, Audit, Compliance and Risk Management Students, including CA, ACCA, CPA, FRM, ACAMS, ICA, and Other Students learning Risk Management,
Anyone who wants to learn about Risk, Risk Assessment, and Risk Management is welcome to this course.
Thank you
Happy learning.
