Effective risk management is key to running a successful business. The majority of business failures are not because firms took on too much risk, but rather they did not properly understand and control risk.
With so many aspects of risk management falling to the board to oversee and approve, it’s essential for members to understand how managing risk can affect company strategy and capital management.
This three-hour workshop will cut through the risk management jargon and help you clearly understand your role in identifying, understanding and overseeing risk in your firm.
Recognise what the FCA/PRA expect when managing business risks
Explore how to define and monitor risk appetite
Discover what information you need to effectively oversee risk
Understand the expectations for resilience and recovery planning
Learn how to delegate effectively to third parties
Recognise how risk is embedded in your business and its culture
Better understand risk to make better decisions
Provide better oversight of your teams – Gaining a firmer grasp of risk management will help you ensure that the actions of senior managers are consistent with your firm’s corporate strategy, capital management and risk tolerance.
Outperform your competitors – You’ll take your firm beyond just keeping the regulator happy. Those senior teams that look at the big picture and effectively identify risks, challenge assumptions and build effective risk frameworks often gain a financial advantage over their competition.
Mitigate risk by getting better information – Learn when and how to challenge others in your firm to make sure you’re getting the information you need to make appropriate decisions (and become better at spotting when you’re not getting the true picture of events).
Focus on growing your firm – Fast track your knowledge and spend less time on the regulatory and compliance issues of risk management. So you can spend more time thinking about the steps you need to grow your business and secure its future.
The Course Agenda
Introduction
What is “risk management” for a financial services organisation?
Overview of the key elements of a risk management process
Regulatory expectations of directors in relation to risk
The FCA’s focus on “conduct risk”
Risk governance structures
How should the risk function sit within existing governance structures?
Learn the “3 lines of defence” model
The roles of the Chief Risk Officer, the Risk Committee and the Board
Understanding risk appetites
What is risk appetite?
What should a risk appetite statement contain?
The role of the board in defining and using risk appetite
How does risk appetite link with risk capital and strategy?
Understanding risk management information
What does the board need to know about risk?
Risk Dashboards and other summary information
The role of qualitative information in risk management
Planning for resilience and recovery
Regulatory expectations for resilience and recovery planning
The board’s role in resilience and recovery planning
Recent regulatory publications on delegation to third parties
Embedding risk management and awareness in your company culture
Simon's professional background covers financial management, corporate treasury and risk management. His experience has been gained across a number of industry sectors including banking, publishing, IT, retail and manufacturing. During the last 14 years Simon has held a number of senior positions within the retail and commercial banking sector.
Simon became an independent trainer, consultant and lecturer in 2015 and his current areas of interest include enterprise risk management, regulatory compliance and corporate governance.
Who is this course for?
This course is ideal for anyone operating at board and senior level, or with an interest in risk management (non-specialist), including:
Chairman/CEOs
Executive/Non-executive Directors
Chief Financial Officers
Senior managers with oversight responsibilities
'This training helped me understand better how to approach vulnerability and will be useful to design training courses internally.'
Head of Personal Loans
Finance and Leasing Firm
'A very thorough, knowledgeable and most importantly, practical approach to risk management.'
Non-executive Director
Retail Bank
Training that makes a difference
Experienced engaging trainers
With first hand industry knowledge and an intimate understanding of the regulatory environment, we always guide you with an expert (and friendly) hand.
Packed with relevant information
We know you’re busy, so we’re careful not to waste a minute of your time. Our training courses are fast paced, insightful and filled with valuable information.
Get personalised attention
Sessions are practical workshops not PowerPoint lectures. All courses are limited to no more than 14 attendees, so we’re able to explain concepts in the context of your business.