Enterprise Risk Management

Enterprise Risk Management

Transforming Risk into Opportunity

Welcome to the forefront of strategic decision-making and resilience-building – the world of Enterprise Risk Management. In today’s rapidly evolving business landscape, risk is an inevitable companion on the path to success. Embracing risk and effectively managing it can propel organizations forward, creating opportunities for growth and innovation. The Enterprise Risk Management discipline provides a comprehensive framework to identify, assess, and mitigate risks across all facets of an organization. By equipping leaders with the tools, knowledge, and foresight to navigate uncertainties, this transformative discipline empowers businesses to turn challenges into triumphs.

Why Enterprise Risk Management Programme?

The Enterprise Risk Management Programme at the London School of Business offers a transformative learning experience that empowers professionals to effectively navigate uncertainties and seize opportunities. With a holistic approach to risk management, participants gain invaluable insights into identifying, assessing, and mitigating risks across all organizational levels. Our programme emphasizes strategic decision-making, fostering resilience, and embracing innovation to shape a more secure and thriving future for businesses. 

Programme Structure

This module will provide a big-picture overview of risk management and highlight key issues in bank and asset management risk management. It will introduce issues the key risks facing financial services companies and other corporates. The second part of the module will involve a risk management simulation in Imperial’s capture lab. The simulation will make risk management tangible as participants will need to make risk management decisions under pressure, communicate effectively within their team, their company and externally while solving the crisis at hand.

The world today is filled with social and political instability that affects how corporations carry out their business activities. Globalisation has become another important feature for businesses to take into consideration. A company’s environment is no longer limited to the country that it is based in. Western economies interact with Far Eastern and ex-Communist Blocs, as well as, the emerging markets in a complicated network.

The process of an Enterprise Risk Management Framework (ERM) enables the administration of a business management to recognise all the risks it faces, quantify them, evaluate the sufficiency of controls, and report about the existing risk profile of the business

The core risk management stages are identified as analysis, identification, assessment, evaluation, planning, and management. These stages collectively create a logical sequence of activities essential for a forceful approach towards the application of enterprise risk management.

For more effective risk management, an organization needs to ascertain the risks it faces and evaluate them. The first step in building a company’s risk profile is to identify the risks. Documentation is very important for effective risk management; however, there is no single correct way to document an organization’s risk profile. An analysis of the business or stage 1 is a prerequisite to identifying risk.

The objective of the risk assessment stage is to offer an evaluation of the possibility and the impact of the risks and opportunities that have been identified if they should occur. Undertaking the assessment provides several benefits, such as providing an order of pain or gain for each opportunity and risk that has been identified.

Financial risk is the exposure to negative occurrences that reduce profitability and in extreme situations bring about company closure. These events may be bad debt, loss of an important customer, loss of overseas investments, the failure of financial systems, regulatory non-conformances or compliance issues, poor hedging choices, adverse fluctuations in exchange rates, and overdependence on a single supplier.

A business that does not address Operational Risk Management cannot claim to have an enterprise risk management process. The success of Operational Risk Management will depend on how complete the identification process is.

The pervasive technologies in today’s world are information, communication, and controls. These technologies can reduce costs, boost growth, and increase productivity. Airlines, banks, insurers, and hotels rely heavily on internet technology. Initially, the purpose of IT was to reduce administrative and bureaucratic work load, so that the staff would have more time to do their proper jobs. Now, IT is an
enabler of the business plan and growth targets. The efficient use of technology can transform companies and contribute towards improved and sustainable stakeholder value. This increase in value is generally driven by investment in technology, resource optimisation and diligent maintenance to sustain reliability. Rapid changes in technology and the merging of technologies, like computers and telecommunications, are continually recreating industrial boundaries so that old industrial sectors are almost non-existent.

For a business, legal risk may be defined as failing to: understand its legal obligations, operate within the law, have evidence to prove that it operates within the law, honour contractual agreements, recognise and effectively manage legal threats or agree on remedies for compensation with a supplier in the event of default.

For most companies, environmental risk results in reduced bottom-line performance from loss of reputation, brand name, and market share from an environmental incident; increased regulation on energy consumption; loss of market share to more environmentally aware competitors with marketing campaigns displaying social responsibility; increased operating costs from the effects of global warming; and higher fuel costs, as natural resources are depleted.

From a business perspective, social risk emanates from changes in society. These changes cause fluctuations in demand, open up new business opportunities, or alter a business’ responsiveness to demand, all as a consequence of the characteristics of its workforce. Business performance capabilities are influenced by the availability, education, health, and outlook of the workforce.

Establishing and managing a successful Business Risk Management Programme has no shortcuts. There are only trade-offs concerning levels of risk and resource requirements. Despite the fact that the process of formulating risk management strategies and business continuity/contingency plans can be expensive, lengthy, and very time-consuming, it can make the difference between not surviving a risk-related event or getting through with most things intact. One benefit of this process is that information will be uncovered which can also lead to everyday operational enhancements within the business itself and also with its business partners.

A risk management framework aims to assist an organisation to manage its risks effectively through the application of the risk management process at varying levels and within specific contexts of the organisation. Such a framework should ensure that risk information derived from these processes is adequately reported and used as a basis for decision-making at all levels.

This section provides an overview of how a risk management process consistent with that outlined in the guide might be implemented across an organisation. It also provides guidance on the process and content of risk and risk management reporting and outlines a practical approach to developing a proactive risk management culture.

Reviewing a risk management framework is different to reviewing risks and their associated controls for effectiveness. The latter is a subset of the former as, by obtaining assurance on the effectiveness of the practices in place to manage specific risks, an organisation can be satisfied that at least part of its risk management framework is operating effectively. This review activity would then be coupled with a review of additional components of the risk management framework to ensure its overall effectiveness.

Programme Highlights

1  Holistic Risk Management Approach

Explore a holistic approach to risk management, addressing both traditional and emerging risks. Develop a deep understanding of risk identification, assessment, and mitigation across all organisational levels.

2  Strategic Decision-Making

Acquire the tools and techniques to make strategic risk-based decisions that align with organizational objectives. Learn to seize opportunities while effectively managing potential threats.

3  Resilience and Business Continuity

Gain insights into building organizational resilience and ensuring business continuity in the face of unforeseen disruptions. Learn to adapt and thrive in dynamic environments.

4  Effective Risk Communication

Master the art of risk communication to engage stakeholders and foster a risk-aware culture throughout the organization. Learn to articulate risk information in a clear, actionable manner.

5  Innovative Risk Management Practices

Embrace innovation as a driving force for risk management excellence. Discover emerging technologies and methodologies to enhance risk monitoring and response.

Learning Outcomes 

  • Define enterprise risk management

  • Identify the roles and responsibilities within an organization to implement enterprise risk management as an enterprise-wide function

  • Compare the types of enterprise risk management frameworks

  • Understand and conduct quantitative Risk Analysis

  • Learn how to implement an enterprise risk management programme in an organization

  • Evaluate risk management frameworks and practices and apply them to industry settings

  • Examine changes in risk management practices as a result of paradigm shifts in global banking, insurance and asset management

  • Analyse the mechanism of corporate governance and its critical relationship to and with risk

  • Understand how to monitor and evaluate an enterprise risk management programme for improvement

Download Brochure

This Programme is Tailored for Visionaries Like You:

  • Business Leaders and Executives

    Visionary leaders and C-suite executives aim to integrate risk management into their strategic decision-making and enhance their organization’s resilience.

  • Risk Management Professionals

    Aspiring and experienced risk managers seeking to enhance their expertise in identifying, assessing, and mitigating risks across various business functions.

  • Finance and Accounting Experts

    Finance and accounting professionals looking to incorporate risk management principles into financial planning, analysis, and reporting.

Join Us

Start Date
October 2024		 Study Mode
Campus		 Certification
Enterprise Risk Management		 Learning Time
4 Weeks		 Price
£2,400
Apply Now
Start Date
Anytime		 Study Mode
Online		 Certification
Enterprise Risk Management		 Learning Time
3 Months		 Price
£850
Apply Now

The LSB Experience

Expert Trainers

Passionate specialists who keep up to date with the latest trends in their field.

Quality Delivery

Trainers have assessed annually on the quality of their delivery and delegate engagement.

Practical Training

Theory and practical based training to take back to the office which leads you more.

Small Class Sizes

No more than 25 people to ensure you get the most from our trainers.

Join the League of Extraordinary Leaders

As a participant in the Enterprise Risk Management Programme, you will be part of a distinguished group that is ready to lead with impact and drive meaningful change. Together, we will pave the way for future generations of leaders, creating a more inclusive and equitable business landscape.

Apply Now and Be the Change

Unlock your leadership potential and propel your career to new heights.
Please contact us on +44 (0)20 3305 8124 or send us an email to exed@lsbuk.com to discuss your requirements and obtain an application form.

Enquire now
Apply now
Contact Us
Apply now

Related Programmes

Accounting and Financial Analysis

This programme is designed for professionals with exposure to financial reports, statements and balance sheets, or people in finance roles from any industry.

More Info

Finance for Non-Finance Executive

This course is for anyone who wants to develop knowledge and understanding of fundamental financial and management accounting techniques used by managers in organisations.

More Info

Financial Management And Control 

This programme will acquire knowledge of the evolutionary and fluid process of developing, implementing, and evaluating ERM.

More Info

Building Leaders for Business

At London School of Business (LSB) we nurture leaders. “Building Leaders for Business” forms the essence of our existence. We are redefining how businesses operate in London and the rest of the world.

Get in Touch

  • +44 (0)20 3305 8124

  • london@lsbuk.com