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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:
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Verify your understanding of CG capabilities and demonstrate your prowess in developing, evaluating, and enhancing CG to attain Principled Performance.
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Understand the fundamental tenets and procedures of CG
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Communicate your understanding of organizational risk, risk appetite
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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.
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Improve your capacity to assess risk and integrate risk factors into your internal audit and compliance systems.
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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:
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Officers engaged in the Risk Management process.
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Regulatory Officers.
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Officers engaged in the anti-money-laundering process.
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Officers engaged in the fight against terrorism financing.
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Internal control managers and auditors.
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Officers engaged in the Corporate Governance process.
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Professionals in Law Enforcement.
Program Outline:
Unit 1:
Corporate Governance Fundamentals:
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Understanding Corporate Governance: Definition, Concept, Rules, and Principles.
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OECD Guidelines for Corporate Governance: Global Standards.
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Roles of Management and the Board of Directors in Corporate Governance.
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Duties of Top Management and the Board in Upholding High Corporate Governance Standards.
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Implementation of Corporate Governance: Control Mechanisms, Procedures, and Relationships.
Unit 2:
Risk Management Essentials:
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Introduction to Risk Taxonomies and the Risk Catalog.
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Frameworks for Global Risk Management.
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Basics of Enterprise Risk Management.
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Identifying Credit, Financial, Operational, Legal, and Ethical Risks.
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Recognizing Fraudulent, Non-compliance, and Reputational Risks.
Unit 3:
Synergy of Risk, Compliance, and Internal Audit:
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Understanding the Convergence and Differences between Risk, Compliance, and Internal Audit.
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Collaboration and Cooperation among Risk, Compliance, and Internal Audit Functions.
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Evolution of Internal Auditing towards Risk-Based Approaches.
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Utilizing Risk-Based Auditing Methodologies and Techniques.
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Conducting Control Environment Audits to Ensure Effective Governance.
Unit 4:
Implementation of Risk-Based Internal Audit Plans:
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Determining Internal Auditing Universe and Risk Maps.
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Developing Transparent Audit Plans for Approval.
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Assessing Compliance Risk and Management.
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Methodologies for Risk Assessment, Monitoring, and Evaluation.
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Designing Risk Mitigation Controls and Conducting Self-Assessments.
Unit 5:
Anti-Money Laundering and Regulatory Compliance:
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Understanding Money Laundering and Terrorism Financing.
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International Standards for Combating Financial Crimes.
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Governance of Compliance Programs for Anti-Money Laundering and Terrorism Financing.
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Regulatory Compliance Management Frameworks and Design.
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Roles and Responsibilities of Board of Directors, Senior Management, Business Unit Leaders, Compliance, Legal, and Internal Audit in Regulatory Compliance.