Study programme 2021-2022 | Français | ||
Risk Management - AAEP | |||
Learning Activity |
Code | Lecturer(s) | Associate Lecturer(s) | Subsitute Lecturer(s) et other(s) | Establishment |
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W-COGE-047 |
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Language of instruction | Language of assessment | HT(*) | HTPE(*) | HTPS(*) | HR(*) | HD(*) | Term |
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Français | Français | 12 | 6 | 0 | 0 | 0 | Q2 |
Content of Learning Activity
The course will focus on the key activities and processes that must be considered for the implementation and monitoring of Enterprise Risk Management (ERM). Some of the most frequently used ERM frameworks (COSO framework, ISO 31000 Risk Management) are presented. Case studies illustrate the concrete functioning of the risk management process within organizations. The course plan is presented below:
Chapter 1: Generalities on Risk Management
Types of risks, risk management and Enterprise Risk Management (ERM)
Evolution of risk management
Drivers of ERM
The value-added of ERM
Integrating risks into strategic planning
Creating a strategic risk mindset and culture
Building a strategic risk assessment process
Corporate governance and ERM
The three lines of defense of risk management
Chapter 2: The components of ERM frameworks
2.1. Mandate and commitment to the ERM framework
2.1.1. Agreement in principle to proceed with ERM
2.1.2. Gap analysis
2.1.3. Context for framework
2.1.4. Design of framework
2.1.5. Implementation plan
2.2. Risk management policy
2.2.1. Policies for the ERM framework
2.2.2. Policies for risk management decisions
2.2.2.1. Risk appetite
2.2.2.2. Risk criteria
2.2.2.3. Internal risk reporting
2.3. Integration of ERM in the organization
2.4. Risk Management Process (RMP)
2.4.1. Context
2.4.2. Risk assessment (identification, analysis, and evaluation)
2.4.3. Risk treatment
2.5. Communications and reporting
2.6. Accountability
2.7. Monitoring, review, and continuous improvement
Chapter 3: EMR tools and techniques
3.1. Key Risk Indicators (KRIs)
3.1.1. Definition
3.1.2. Illustrations of KPIs
3.1.3. Value of KRIs to Risk Management
3.1.4. Applications
3.2. Risk tolerance
3.2.1. Definition
3.2.2. Factors to consider in setting risk tolerance
3.2.3. Applications
3.3. Risk profile
3.3.1. Definition
3.3.2. The risk map/matrix
3.3.3. The heat map
3.3.4. Applications
3.4. Quantitative risk assessment
3.4.1. The two-dimensional risk map
3.4.2. Refined classification of risks
3.4.3. Basic statistical analyses
3.4.4. Total corporate risk
Chapter 4: Application of ERM frameworks
4.1. The COSO framework
4.1.1. Main principles
4.1.3. Evolution
4.1.3. Components
4.1.4. Applications
4.2. The ISO 31000 Risk Management framework
4.2.1. Main principles
4.2.2. Components
4.2.3. Applications
Required Learning Resources/Tools
Not applicable
Recommended Learning Resources/Tools
Not applicable
Other Recommended Reading
Not applicable
Mode of delivery
Type of Teaching Activity/Activities
Evaluations
The assessment methods of the Learning Activity (AA) are specified in the course description of the corresponding Educational Component (UE)