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Creating a Risk Assessment Plan

Enterprise risk management training on IT risk management frameworks related to targets during the business-planning process

Key Take Away

This webinar will show you how to create a business risk management assessment plan by using a risk manual, to design, perform, monitor and communicate corporate risk management as it relates to plans and results; and in turn becomes the basis for updating the risk assessment plan.

Overview

Creating an enterprise risk management assessment plan -- creating any plan -- is never easy. It is done more easily, however, when the enterprise risk management frameworkrelates to what people do, and what is expected of them. Enterprise risk management training on what is expected of them can be based on the goals – and every plan has goals, or targets -- for what they do, and can be compared to the results of what they have done – and every plan must compare results to targets during the business-planning process. Both the results and the goals can best be seen as the end products of their work. Those end products are the outcomes – the results – of their assigned work – of their participation in the assigned business processes.

Although companies often organize IT risk management frameworks – and the related policies, procedures and controls by organization components and subject matter – by function – organizing information and communication by business process enables lower costs, more focus, and greater accountability, among other benefits. When business processes are the focus, then the emphasis on planning – and related communication, risk management and control -- can be on the outputs of those business processes; and, in turn, those outputs are the focus of planning (basically, the purpose of a risk assessment plan is to eliminate or mitigate unacceptable levels of uncertainty in the outputs of business processes due to factors affecting the outputs of business processes).

In sum, risk management courses onlineto plan for risk efficiently and effectively throughout the organization, suggest a risk manual as a very useful tool, because it enables presenting, by business process, the means of eliminating or mitigating risk to achieve acceptable levels of risk; and in doing so, enables the integration of risk management program, control, and compliance.

This strategic management coursewebinarbegins with a review of a typical business process framework, which can be easily tailored to your organization, in the context of, and interacting with, outside related parties. These interactions are the bases for risk and compliance, and the organization’s responses are the basis of control, so that business process framework enables defining the range of process outcomes, of process outputs, and whether these ranges are acceptable from the standpoint of both internal and external compliance, and internal control.

This webinar then will illustrate a risk manual and the tools for designing, using and communicating risk. These examples will show practical approaches that organizations have used successfully.In closing, recommended actions for measuring and monitoring an integrated approach to risk, control and compliance management will be presented. As a consequence, the risk assessment plan can be developed, monitored, and updated.

Why Should You Attend

You should attend if you are afraid of stakeholder reactions to the bad press from such matters as auditor comments about poor risk management and control, of regulator comments and ensuing actions due to compliance issues, and/or of unexpected performance problems due to failures to mitigate risks effectively, or failures to anticipate risks. Building monitoring into all business processes by using a risk manual, and having in place objective means of measuring and reporting on monitoring of risk, control and compliance can reduce the concerns about exposures to bad press.

Beyond bad press are the fears and uncertainties of internal disharmony due to the inability of cross-functional teams to get the results desired from their efforts to manage risk and compliance. Cross-functional teams are the approach used by many organizations to address these matters, but there is a better answer, deriving from a business-process approach to managing risk, control and compliance. This approach will be presented in this webinar.

Uncertainty is built into risk, because the consequences of the causes of risk are shaped by the possibility of future events and the conditions that result from them. Good risk management can mitigate this uncertainty, by incorporating effective measuring and monitoring -- and, of course, effective planning and communication (which also should be monitored) – into business processes.

Some people feel that being able to measure the level of risk, control and compliance management is uncertain, and doubt that it can be done. However, if objective and relevant measures are applied to the outcomes – the outputs -- of business processes, then it is likely that these matters can be monitored, and reported, in a way that enable the organization to be more comfortable with its exposures to fears, uncertainties and doubts.

Areas Covered In This Webinar

You should attend if you are afraid of stakeholder reactions to the bad press from such matters as auditor comments about poor risk management and control, of regulator comments and ensuing actions due to compliance issues, and/or of unexpected performance problems due to failures to mitigate risks effectively, or failures to anticipate risks. Building monitoring into all business processes by using a risk manual, and having in place objective means of measuring and reporting on monitoring of risk, control and compliance can reduce the concerns about exposures to bad press.

Beyond bad press are the fears and uncertainties of internal disharmony due to the inability of cross-functional teams to get the results desired from their efforts to manage risk and compliance. Cross-functional teams are the approach used by many organizations to address these matters, but there is a better answer, deriving from a business-process approach to managing risk, control and compliance. This approach will be presented in this webinar.

Uncertainty is built into risk, because the consequences of the causes of risk are shaped by the possibility of future events and the conditions that result from them. Good risk management can mitigate this uncertainty, by incorporating effective measuring and monitoring -- and, of course, effective planning and communication (which also should be monitored) – into business processes.

Some people feel that being able to measure the level of risk, control and compliance management is uncertain, and doubt that it can be done. However, if objective and relevant measures are applied to the outcomes – the outputs -- of business processes, then it is likely that these matters can be monitored, and reported, in a way that enable the organization to be more comfortable with its exposures to fears, uncertainties and doubts.

Learning Objectives

  • Learn how to apply business-process design, measurement, communication and monitoring 
  • Learn business-process management – for risk, control and compliance management
  • Learn why this approach is more effective and efficient than functional management

Who Will Benefit

  • Leaders and Members of Cross-functional Teams dealing with Risk, Control and Compliance Management
  • Operations Personnel
  • Accounting Personnel
  • IT Personnel
  • Auditing Personnel
  • Line and Staff Personnel

When

19 Jul 2017 @ 01:00 pm

19 Jul 2017 @ 02:30 pm

Duration: 1 hours, 30 minutes

Where

2754 80th Avenue, New Hyde Park, NY 11040

2754 80th Avenue, New Hyde Park, NY 11040

11040 New York

United States

Organised by

AtoZ Compliance (view profile)

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