Governance Arms of Risk Management

Overview:

Introduction:

The Governance Arms of Risk Management training program allows you to understand and realize the roles of Risk Management, Audit, Compliance, and Anti-Money Laundering/Combating Terrorism Finance functions within the Corporate Governance parameters in order to achieve cooperation between these functions and enhance their process and harmony.

Program Objectives:

At the end of this program the participants will be able to: 

• Verify your understanding of CG capabilities and demonstrate your prowess in developing, evaluating, and enhancing CG to attain Principled Performance.

• Understand the fundamental tenets and procedures of CG

• Communicate your understanding of organizational risk, risk appetite

• Get the skills you need to connect internal audit planning to organizational risk factors, global frameworks, and Standards so you can create a risk-focused internal audit plan for your firm.

• Improve your capacity to assess risk and integrate risk factors into your internal audit and compliance systems.

• Learn how an effective CG implementation supports decision-making, company performance, and adherence to rules, policies, and mandates by enabling the evaluation, monitoring, and reporting of governance risks.

Targeted Audience:

• Officers engaged in the Risk Management process.

• Regulatory Officers.

• Officers engaged in the anti-money-laundering process.

• Officers engaged in the fight against terrorism financing.

• Internal control managers and auditors.

• Officers engaged in the Corporate Governance process.

• Professionals in Law Enforcement.

Program Outline:

Unit 1:

Corporate Governance Fundamentals:

• Understanding Corporate Governance: Definition, Concept, Rules, and Principles.

• OECD Guidelines for Corporate Governance: Global Standards.

• Roles of Management and the Board of Directors in Corporate Governance.

• Duties of Top Management and the Board in Upholding High Corporate Governance Standards.

• Implementation of Corporate Governance: Control Mechanisms, Procedures, and Relationships.

Unit 2:

Risk Management Essentials:

• Introduction to Risk Taxonomies and the Risk Catalog.

• Frameworks for Global Risk Management.

• Basics of Enterprise Risk Management.

• Identifying Credit, Financial, Operational, Legal, and Ethical Risks.

• Recognizing Fraudulent, Non-compliance, and Reputational Risks.

Unit 3:

Synergy of Risk, Compliance, and Internal Audit:

• Understanding the Convergence and Differences between Risk, Compliance, and Internal Audit.

• Collaboration and Cooperation among Risk, Compliance, and Internal Audit Functions.

• Evolution of Internal Auditing towards Risk-Based Approaches.

• Utilizing Risk-Based Auditing Methodologies and Techniques.

• Conducting Control Environment Audits to Ensure Effective Governance.

Unit 4:

Implementation of Risk-Based Internal Audit Plans:

• Determining Internal Auditing Universe and Risk Maps.

• Developing Transparent Audit Plans for Approval.

• Assessing Compliance Risk and Management.

• Methodologies for Risk Assessment, Monitoring, and Evaluation.

• Designing Risk Mitigation Controls and Conducting Self-Assessments.

Unit 5:

Anti-Money Laundering and Regulatory Compliance:

• Understanding Money Laundering and Terrorism Financing.

• International Standards for Combating Financial Crimes.

• Governance of Compliance Programs for Anti-Money Laundering and Terrorism Financing.

• Regulatory Compliance Management Frameworks and Design.

• Roles and Responsibilities of Board of Directors, Senior Management, Business Unit Leaders, Compliance, Legal, and Internal Audit in Regulatory Compliance.