Three Key Risk Assessments in Your ERM Program - ERM IT and Internal Controls

19 May 2022
12:00 PM PST | 03:00 PM EST
90 Minutes

DAYS

HRS

MIN

SECS

Obtain a better understanding of how to create/develop risk assessments, be it in stable times or less time, such as covid, geopolitical uncertainties, etc. The webinar will also provide pointers about the Risk Assessment process using the  Risk Assessment Matrix and how to complete a thorough Risk Assessment for a financial institution.
 
Enterprise-wide Risk Management has been around since the 1980s, but it has become more formalized in the finance industry.   The ERM Program ensures that institutions have a strong foundation and solid infrastructure which helps them handle risks while achieving their organization's vision.

We will focus on three critical risk assessments.

WHY SHOULD YOU ATTEND?

Financial Institutions provide excellent value to the economy, b. But much of that value inherently comes from risk-taking. Successful institutions strive to manage risk at the enterprise-wide level, so that, at any given time, they incur just enough of the right kind of risk, to pursue their strategic goals effectively.  This webinar will first provide a step-by-step process to develop robust Risk Assessments to address key areas of a financial institution. Then we will specifically focus on key Risk Assessments that are critical components of an ERM Program: the Enterprise Risk Management Risk Assessment, Information Technology Risk Assessment, and the Internal Controls Risk Assessment, and provide practical tools and examples to be implemented in a financial organization immediately.

This webinar is designed for participants who have a basic knowledge of Enterprise Risk Management and are looking for specific pointers and examples on how to complete these Risk Assessments.

AREA COVERED

Part I:

  • ERM overview of key definitions
  • Three Key Phases of ERM and how Risk Assessments fit in
  • The Risk Assessment Process, Risk Assessment System (RAS), top risks to Assess
  • Conjugating assessment of routine risk and extreme risks
  • Annual Risk Assessments recommended
  • Areas Assessed
  • ERM Risk Assessment Matrix - the major risks
  • The present extreme risks

Part II:

  • Information Technology areas that need to be assessed
  • Information Technology Risk Assessment
  • Definitions
  • Categories Included
  • IT Risk Assessment
  • The Cobit tool

Part III:

  • Internal Controls Risk Assessment
  • Areas Assessed
  • Categories included
  • Areas Assessed using Internal Controls Risk Assessment Template
  • When the above fails: robustness and resilience

LEARNING OBJECTIVES

  • Overview of ERM key definitions and the three ongoing phases
  • Learn about the Risk Assessment Process and key steps
  • Understand how to identify and assess your institution's risks using the ERM Risk Assessment Matrix
  • Conceptualize the characteristics of Risk Assessments based on industry best practices
  • Developing appropriate Risk Assessment Criteria
  • Prioritizing and handling  a portfolio of risks once identified
  • Define what is the Risk Assessment System (RAS)
  • An overview of Model Risk Management
  • Completing an IT Risk Assessment
  • Completing an Internal Controls Risk Assessment

WHO WILL BENEFIT?

This  session is designed for : 

  • Risk Managers
  • Chief Risk Officers
  • Compliance Officers
  • Chief Operating Officer
  • Chief Credit Officer
  • Internal Auditors, and the entire risk management team. Also, employees of financial institutions involved in the risk management process and ERM program who want to learn more about ERM and Risk Assessments.

Financial Institutions provide excellent value to the economy, b. But much of that value inherently comes from risk-taking. Successful institutions strive to manage risk at the enterprise-wide level, so that, at any given time, they incur just enough of the right kind of risk, to pursue their strategic goals effectively.  This webinar will first provide a step-by-step process to develop robust Risk Assessments to address key areas of a financial institution. Then we will specifically focus on key Risk Assessments that are critical components of an ERM Program: the Enterprise Risk Management Risk Assessment, Information Technology Risk Assessment, and the Internal Controls Risk Assessment, and provide practical tools and examples to be implemented in a financial organization immediately.

This webinar is designed for participants who have a basic knowledge of Enterprise Risk Management and are looking for specific pointers and examples on how to complete these Risk Assessments.

Part I:

  • ERM overview of key definitions
  • Three Key Phases of ERM and how Risk Assessments fit in
  • The Risk Assessment Process, Risk Assessment System (RAS), top risks to Assess
  • Conjugating assessment of routine risk and extreme risks
  • Annual Risk Assessments recommended
  • Areas Assessed
  • ERM Risk Assessment Matrix - the major risks
  • The present extreme risks

Part II:

  • Information Technology areas that need to be assessed
  • Information Technology Risk Assessment
  • Definitions
  • Categories Included
  • IT Risk Assessment
  • The Cobit tool

Part III:

  • Internal Controls Risk Assessment
  • Areas Assessed
  • Categories included
  • Areas Assessed using Internal Controls Risk Assessment Template
  • When the above fails: robustness and resilience
  • Overview of ERM key definitions and the three ongoing phases
  • Learn about the Risk Assessment Process and key steps
  • Understand how to identify and assess your institution's risks using the ERM Risk Assessment Matrix
  • Conceptualize the characteristics of Risk Assessments based on industry best practices
  • Developing appropriate Risk Assessment Criteria
  • Prioritizing and handling  a portfolio of risks once identified
  • Define what is the Risk Assessment System (RAS)
  • An overview of Model Risk Management
  • Completing an IT Risk Assessment
  • Completing an Internal Controls Risk Assessment

This  session is designed for : 

  • Risk Managers
  • Chief Risk Officers
  • Compliance Officers
  • Chief Operating Officer
  • Chief Credit Officer
  • Internal Auditors, and the entire risk management team. Also, employees of financial institutions involved in the risk management process and ERM program who want to learn more about ERM and Risk Assessments.
Webinar Option
Live + Recorded Session
Live + Transcript
Live + Training CD
Transcript (PDF Transcript of the Training)
Downloadable Recorded Session
Training CD
Group Session Participants + Recorded

Live Session for 10 Participants (For adding extra attendees please contact our Customer Support Team)

Speaker Profile

ins_img Fred Vacelet

Fred Vacelet is a Financial Risk Management Consultant and trainer with an international expertise in Risk Management methodological frameworks. His experience spans some 25 years, advising banks, software houses and others on risk management. Fred holds various degrees, including from London Business School, with post-graduate studies at the Technische (then West)-Berlin and Keio (Japan) universities. He is a published author on risk management and Basel Accords, and a regular speaker at conferences. Fred runs training courses and workshops with participants from various banks around the world.

Upcoming Webinars