Risk Management Course & Corporate Governance

Management. Lift your career and your organisation.

COVID-19 update: arrangement of our courses

We are now delivering courses online and in-person. Please check the delivery format of each class before enrolling.

Please note that course materials (excluding prescribed texts) are shared electronically within 48 hours of course commencement. Printing is not available.

This risk management course provides a comprehensive overview of the theory and practice of risk management and corporate governance in a work setting.

Areas from within risk management and corporate governance which will be covered in this course include risk identification, assessment and risk planning; strategies for reducing risk; monitoring risks and implementing risk control. The interface between corporate governance and risk management is examined. This includes best practice in corporate governance and corporate responsibility; application of the ASX Corporate Governance Principles and Recommendations; internal controls; reporting; and remedying non-compliance.

This course provides tactics for building on opportunities, rather than viewing risk management as a negative part of your role. Examining both positive and negative risks, it considers risk assessment and management within commercial, government and not-for profit organisations.

We consider the context in which the risk exists; risk appetite; identifying, assessing and planning around risks; as well as techniques for treating and mitigating risks. This includes enabling an organisation to progress from naive and novice in their approach to risks/opportunities; to an organisation that is more mature and responsive in its approach to risk management. During the course, attention is given to the iterative steps in managing and capitalising on risk, whilst remaining compliant with strong corporate governance.

Corporate governance focuses on the system by which companies are directed and managed. Good corporate governance and corporate responsibility promotes investor confidence. It is more likely to arise when an organisation has a normalised / naturalised approach to risk management.

Objectives

Course objectives include:

• identifying and assessing the different types of risks facing an organisation - both positive and negative
• determining an organisation’s risk appetite and risk context
• implementing the risk management process, as per ISO31000:2018 which includes identifying, analysing, evaluating and treating risks, as well as communicating, reporting, monitoring and reviewing risk as an organisation matures in its risk profile
• managing and updating an organisation’s risk register
• identifying the scope and benefits of corporate governance for an organisation
• examining frameworks for good corporate governance and avenues for reporting, monitoring and managing risks
• implementing controls for achieving good levels of governance.

Outcomes

By the end of this course, you should be able to:

• apply both risk management and corporate governance frameworks and by so doing, adding value to organisations
• identify, assess and treat negative risks and positive risks (opportunities), within the risk framework of your organisation
• operate within the risk appetite of your organisation and develop a risk register to capture an organisation’s maturation in managing risk
• draw from corporate governance models; the Australian Corporations Act and ASX principles for ensuring corporate governance policies are enacted
• review internal controls and remedy weaknesses to ensure compliance with sound corporate governance principles.

Content

Overview of risk management

The different types of risks, both positive and negative and how to manage risks in a mature manner in order to create competitive advantage and/or efficiency in allocation of resources. Introduction to ISO 31000:2009.

Establishing risk context and assessing risks

Factors that can impact on risk, setting the scope of a risk management programme, appraising risk appetite and setting risk criteria. Conducting risk analysis both qualitatively and quantitatively.

Evaluating and selecting risk treatments

Using root cause analysis to treat the cause. Reviewing each of the treatment strategies for managing positive and negative risk. Preparing and updating the risk register.

Models of Corporate Governance

Understanding the different models for corporate governance and how they can be applied across a range of settings, whether this is commercial, government or not-for-profit.

The Australian framework for Corporate Governance

Applications of the 3 levels of Corporate Governance – enforceable obligations, self-regulation and ethical standards. Review of Australian Corporations Act and ASX principles and regulations, in relation to Corporate Governance.

Internal controls and reporting within Corporate Governance

The nature of internal controls, reporting requirements, compliance and remedies, environmentally sustainable work practices.

Intended audience

Suitable for anyone responsible for shaping or working within their organisation’s corporate governance and risk management frameworks. In particular:

• Board members
• Company Directors
• Risk managers
• WHS Managers
• Financial managers
• HR Managers
• Change Managers
• General Managers
• Operation Managers
• Program Managers
• Executive Officers.

Delivery modes

• Face-to-face, presenter-taught workshop
• Online workshop via the platform Zoom

Delivery style

Coursework consists of mini-lectures, followed by practical exercises. These exercises include group work based on case studies. There will be also an opportunity towards the end of the day to volunteer your own change scenario for building up an action plan based on input from the entire class.

Materials

You will be provided with a link to download and access course materials prior to class.