Enterprise risk management training courses are growing in popularity each day. This is a result of increased awareness on the importance of risk management. Following the recent global economic crisis, organizations, individuals, businesses and even entire economies can no longer afford to ignore the significance of risk management. These training courses equip professionals with the requisite skills to help them deal with risk in their professional settings.
Enterprise risk management includes the processes and methods applied by organizations in the management and mitigation of risks. It also includes the process of identification of events that are of relevance to an organization’s objectives and their assessment in terms magnitude and likelihood. It goes further and determines the response strategy to be taken and the progress monitoring process. By identifying and addressing both risks and opportunities, organizations create and protect value for all the stakeholders who include the shareholders, customers, employees and the societies. These training courses equip the trainees with the required skills to achieve these goals.
The training is suitable for risk professionals and all decision makers in an organization. The hands-on training courses are taught in a setting resembling a normal class. The aim is to help these professionals be better risk managers and also advance new practices in the enterprise risk management field. The training is up to date and is based on the most recent findings in the risk management field which is making strides each day as professionals explore and test new risk management strategies.
Professionals are taught how to execute enterprise risk management in their organizations. This includes its execution at both the strategic level so as to run the business and to use it to drive decision making processes in the organization. They are also taught how to integrate enterprise risk management with strategic planning. This normally poses a challenge to less experienced professionals and the training helps them get over these challenges.
Enterprise risk management training courses also sees the participants participate in mock risk committee meetings. This is like a simulation of the real setting in their workplace and it provides them with a chance to execute what they are learning and learn from each other. Case study groups are constituted in which the trainees practice all the steps of the risk control process. They also draft dummy enterprise risk management frameworks and risk appetite statements. Finally, they come up with a blueprint for implementation of a best practices enterprise risk management framework. The training is practical and not just theoretical. It is done in groups for effectiveness.
The enterprise risk management training courses are mainly organized for; chief risk officers, actuaries regulators, rating agency analysts, board directors and senior executives. They train them on sophisticated techniques for quantification and management of both financial and non financial risks faced by their organizations. They are equipped with skills that make them more effective in running their organizations, meeting the set goals and dealing with unforeseen events. These courses are advertised online and in business magazines as well as other media platforms. They are mainly carried out in the major cities all over the world by qualifies risk management experts.