KasnebRevisions
Log inGet started
Papers in this syllabus

Paper CQP 303

Enterprise Risk Management

Read study notes

The main learning objective of this subject is to inculcate in the learners ‘best-in-class’ Enterprise Risk Management (ERM) knowledge with practical examples and contemporary cases to firmly cement the skills. The learner is expected to be a discerning expert with dynamic perspectives and ability to promote excellence and professionalism in developing resilient processes insulated from systemic risk after going through this subject.

On completion, a candidate should be able to

  • To develop a solid understanding of ERM and contemporary environment.
  • Develop sound theoretical knowledge on ERM.
  • Prescribe effective Enterprise Risk Management (ERM) interventions.
  • Design an ERM and conduct ERM audits
  • Formulate risk management strategies.

Content

  1. 1

    Introduction to Enterprise Risk Management

    should internalize the foundations of Risk management

    1. Evolution of ERM

    2. Fundamental definitions of risk

    3. Characteristics of risk

    4. Aims of Risk Management

    5. Risk concepts

    6. Enterprise Risk Management

    7. Strategic relevance of ERM

  2. 2

    Typology of Risk Exposures

    By the end of this topic, the learner should attain expert ability in the application of risk analysis tools

    1. Introduction – Approaches to classifying risks

    2. Internal forces shaping the risk environment

    3. External environment

    4. ISO Standards on ERM

    5. Major risk types

    6. Evolution of risk exposures

    7. Basel standards for risk management

  3. 3

    Designing an enterprise risk management (ERM) program

    By the end of this topic, the learner should be Capable to design/ develop an ERM program

    1. Principles of risk management

    2. Enterprise risk management framework

    3. Designing an ERM Program

    4. Quality assurance of an ERM program

    5. Evolution of ERM programs

  4. 4

    Risk Analytics

    By the end of this topic, the learner should expertly undertake quantitative analysis of risk

    1. Introduction to risk analytics

    2. Significance of risk analytics

    3. Tools for quantifying risk

    4. Sensitivities, scenario analysis and stress testing

    5. Risk appetite metrics

    6. Risk reporting, data aggregation and data quality

    7. Qualitative Risk Analysis

  5. 5

    Risk architecture and structure

    By the end of this topic, the learner should have Proficiency in the review/ monitoring of an ERM framework

    1. Risk governance framework

    2. Risk type frameworks

    3. ERM integration

    4. Three lines of defence (3LoD) model

    5. Effectiveness review & quality implementation

    6. Evaluation of ERM

  6. 6

    Regulation and Compliance

    By the end of this topic, the learner should be able to devise a Regulatory/ compliance management strategy/ framework

    1. Regulation & Compliance – Definitions & differences

    2. Regulatory framework

    3. Compliance risk management

    4. Policies & procedures

    5. Compliance assurance

    6. Current regulatory developments (Local/ international)

  7. 7

    Risk Culture & Awareness

    By the end of this topic, the learner should be able to cultivate cultural change skills

    1. Culture: fundamental definitions

    2. Risk Maturity models

    3. Role of organization culture in ERM implementation

    4. Types of organization culture

    5. Organization culture alignment

    6. Role of training & awareness

    7. Alignment of ERM and Corporate Governance

  8. 8

    Assurance

    By the end of this topic, the learner should acquire quality assurance expertise

    1. Rationale of ERM audits

    2. Role of audits in ERM implementation

    3. Types of ERM audits

    4. Audit reporting

    5. Audit socialization

    6. Auditing - Software solutions

  9. 9

    ERM Case Studies

    By the end of this topic, the learner should have capacity to formulate risk management strategies

    1. Contemporary cross-industry cases on ERM implementation.

    2. Sectors in scope: a) Financial services, b) Retail management, c) Industrial sector, d) Government (state corporations), and e) Non-governmental

      1. rganizations (NGOs).

  10. 10

    Trends in Risk Management

    B y the end of this topic, the learner should acquire leadership skill relevant for driving innovation efforts in an ERM context

    1. The technology revolution & ERM

    2. Changing risk landscape (Emerging risks)

    3. Risk trends

    4. Data-driven ERM

    5. Machine learning, artificial intelligence, Internet of things (IOT) and ERM

    6. Evolving regulatory oversight

    7. Convergence of risk oversight with strategic planning