Course Overview
This Advanced Risk Management & Internal Audit training course will develop the understanding, skills, methods, and behaviors required to proactively manage risk across your operations – helping to ensure the day-to-day operational continuity and the long-term sustainability of the organization. Based on a proven framework and introducing best practice techniques, it will present a pragmatic approach to balancing risk and reward in today’s world of technological innovation and global competition. Likewise, this training course will provide insight into Risk Governance and a systematic methodology to identify, quantify, and mitigate risks that threaten to disrupt the organization.
It provides a profound understanding of the human, process, systems, and organizational causes of risk and how to minimize them, including insight into the psychology of risk prevention and the need to combat external threats. It will enable the delegates to observe their operations and take steps to plan and manage risk within their workplace.
Course Objectives
Participants will learn how to: -
- Appreciate the benefits of practical Operational Risk Management
- Paradigm an effective Risk Management Plan
- Conduct Risk Identification and Risk Analysis
- Plan a response to risk and take action to mitigate it
- Implement an Operational Risk Management Framework within the organisation
- Document, report, and manage Operational Risk Auditing
- Apply a systematic approach to Risk Management within the operations
- Share lessons learned and best practices
Course Methodology
The delegates will learn by active participation through inspiring presentation tools and interactive techniques presented in a lively, enthusiastic and exciting style; they will participate in practical exercises, case studies, and an EMS step-by-step practical workshop. This Advanced Risk Management & Internal Audit training course is presented using PowerPoint presentations and videos. Case studies further enhance the learning outcome. Active participation will be encouraged so that the delegates can gain through the group's personal experiences.
Who Should Attend
This training course is aimed at a wide variety of operational professionals. Any manager responsible for maintaining the Risk culture and implementing control methods would find this course topic of great interest.
This training course is suitable to a wide range of professionals but will greatly benefit:
- Senior Operations Managers
- Risk Management Professionals
- Operations Managers
- Senior Team Leaders
- Maintenance Managers, Engineers, and Technicians
- Operations Planners
Course Contents
DAY ONE:
THE FUNDAMENTALS OF OPERATIONAL RISK MANAGEMENT
- What is Risk and Operational Risk Management?
- The Benefits of Operational Risk Management
- The Operational Risk Management Framework
- The 6-step Operational Risk Management Cycle
- Enterprise Risk Management (ERM)
- Risk Identification Process
- Risk Management Principles and Standards
- Risk Assessment
DAY TWO:
RISK MANAGEMENT METHODS
- The Challenges of Risk Management
- Operational Risk Management in the Corporate Structure
- Probability and Statistics for Operational Risk Management
- Risk Modelling
- Failure Modes and Effects
- Risk Measurement
- Risk Maturity Level and Risk Appetite
- Risk Response
DAY THREE:
RISK GOVERNANCE
- Risk Controls
- Key Risk Indicators (KRIs)
- Qualitative and Quantitative Risk Analysis
- Risk Actions
- Risk Reviews
- Risk Governance: Three Lines of Defence
- Risk Oversight, Documentation, and Reporting
- Project Risk Management
DAY FOUR:
IMPLEMENTING OPERATIONAL RISK MANAGEMENT
- Overcoming the Hurdles to Risk Management
- Risk Management Communication
- Setting a Risk Management Vision
- Stakeholder Ownership of Risk Management
- Instilling a Risk Management Culture
- International Attitudes to Risk
- Embedding Operational Risk Management
DAY FIVE:
CONDUCTING RISK-BASED AUDITS
- The Risk-Based Audit Process
- Creation of Effective Audit Checklists
- Communications during Audit
- Risk and Quality Documentation Review
- Key Personnel Interviews
- Physical Site Risk Observation and Monitoring
COMPLIANCE MANAGEMENT
- The Compliance Challenge
- What is Compliance
- Conformity Assessment
- The South African Regulatory Landscape
- Frameworks and Standards Landscape
- Compliance Framework
- Australian Compliance Standard – AS 3806
- Compliance Elements
