This CRO training course is designed to help participants understand the best-practice essentials of undertaking modern and strategic, executive-level risk management (i.e. Chief Risk Officer duties). In the course we learn how risk management should be defined and structured—both conceptually and functionally—so that a CRO can offer the best support to his or her business colleagues, CEO and board.
In particular, we focus on how it is essential for the CRO to establish an effective enterprise risk management (ERM) function that acts as a “strategic enabler”: focusing principally on addressing the challenges that impact the overall, corporate strategy and the achievement of business objectives. We explore everything from the technology, tools and methods that a CRO must make part of his or her toolkit to the human resource and psychological challenges that he or she is likely to face in defining and establishing his or her CRO role.
What you will learn
- Step-by-step guidance in how to design, develop, establish and implement an entire, enterprise-wide risk function from the board-level down to detailed operations
- In-depth discussion of the roles and responsibilities of the CRO, the executive team colleagues, the CEO and board
- Exercises in how the CRO is to implement the ERM process steps and align his or her risk function with the company’s strategic objectives
- Introduction of various tools and methods for developing a risk strategy for the purpose of embedding risk within the organization and catalyzing oversight
- An outline of the ideal reporting framework for a CRO, that is principally more strategic and forward-looking than traditional, backwards reporting
- Guidance in how to address internal political as well as practical challenges in establishing an effective risk function and executing the CRO role
- In-depth discussion of how to guide and instruct the board in the formation or restructuring of the risk committee, its agenda and purpose, in conjunction with its dependence upon the CRO
- Learning how to develop the personnel and management structure of a risk function, from hiring, tooling and training to the equipping of risk analysts with the appropriate systems
- Learning what new tools and applications are necessary for the CRO to understand within modern, enterprise risk management frameworks, such as predictive analytics, market intelligence, IT risk, reputation/social media risk management and environmental risk management