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Governance Arms of Risk Management



The goal of this ground-breaking  Governance Arms of Risk Management training course is to better understand and realize the roles of Risk Management, Audit, Compliance, and Anti-Money Laundering/Combating Terrorism Finance functions within the Corporate Governance parameters in order to achieve cooperation between these functions and enhance their process and harmony.

Deliver a superior bottom line by eliminating guesswork from your decision-making. Boost your credibility, fulfill your desire to excel, and emerge as the leader of your organization reasons

Course Objectives:

At the end of this course the participants will be able to: 

  • Verify your understanding of CG capabilities and demonstrate your prowess in developing, evaluating, and enhancing CG to attain Principled Performance.
  • Understand the fundamental tenets and procedures of CG
  • Communicate your understanding of organizational risk, risk appetite
  • Get the skills you need to connect internal audit planning to organizational risk factors, global frameworks, and Standards so you can create a risk-focused internal audit plan for your firm.
  • Improve your capacity to assess risk and integrate risk factors into your internal audit and compliance systems.
  • Learn how an effective CG implementation supports decision-making, company performance, and adherence to rules, policies, and mandates by enabling the evaluation, monitoring, and reporting of governance risks.

Targeted Audience:

  • Officers engaged in the Risk Management process
  • Regulatory Officers
  • officers engaged in the anti-money-laundering process
  • officers engaged in the fight against terrorism financing
  • Internal control managers and auditors
  • Officers engaged in the Corporate Governance process
  • Professionals in Law Enforcement

Course Outline:

Unit1: What is corporate governance exactly?

  • Definition, concept, rules, and principles of corporate governance
  • OECD Guidelines for CG
  • Corporate Governance: Management's and the Board of Directors' Roles
  • Top management's and the board's duties in upholding high CG
  • Effective board members and executive management
  • Disclosure and openness

How may corporate governance be practically implemented?

  • Control mechanisms, procedures, and relationships that apply to companies
  • Executive and non-executive board members have different responsibilities.
  • Committees of the Board: Functions and Duties
  • The function of the risk management and audit committees
  • Compensation Committee: A Touchy Position
  • How to Improve Corporate Governance in Five Steps
  • Sarbanes-Oxley Act was passed in the USA in 2002 (Enron/WorldCom)

Unit2: Risk Taxonomies and the Risk Catalog

  • Introduction to the Different Risk Category Types
  • Global Risk Management
  • Framework for Risk Management
  • Basic Ideas in Enterprise Risk Management
  • How to Spot Credit Risks
  • Accounting for Financial Risks
  • How to Recognize Operational Risks
  • Legal Risks Identification
  • Political and sovereign risks identification
  • Identifying Fraudulent Risks and Ethical Risks
  • Risks of Non-compliance Identification
  • The Recognition of Reputational Risks

Unit3: The Triangle of Risk, Compliance, and Internal Audit

  • The Core Differences and the Relevance of Convergence
  • Overlap: Beneficial or Wasteful?
  • Collaboration and cooperation between these functions
  • Committees for corporate governance: The audit committee is the top one
  • Effective board members and executive management

Internal Auditing's Evolution Toward Risk-Based Internal Auditing

  • What is internal auditing based on risk?
  • Internal Auditing's Shift from System-based to Risk-based
  • Different Internal Auditing Methods
  • Risk-Based Auditing Methodology
  • Risk-Based Auditing Techniques
  • How and why do audit units use risk-based auditing techniques?
  • Control environment audit

Unit4: Creating and implementing a risk-based internal audit plan

  • Internal Auditing Universe Determination
  • a risk map
  • Registration of Risk
  • Making a plan for internal auditing
  • creation of a transparent plan for audit committee approval
  • Effectiveness in the Avoidance of Audit Notes
  • Policy and Manual of Operational Rules & Regulations References in the Audit
  • Identification and Audit Risk Classification

Assessment of Compliance Risk and Management

  • Definition, Tasks, and Objectives
  • Methodology for Risk Assessment and Management
  • Monitoring Threats & Evaluating Vulnerabilities
  • Residual Risk and Risk Tolerance
  • Designing Risk Mitigation Controls for Self-Assessments
  • Design of the Review and Auditor Selection
  • Development of programs / Computer-assisted Auditing Methods

Unit5: Money Laundering

  • Definition, Tasks, and Objectives
  • Methods and Threats of Money Laundering
  • Attempts and Threats to Fund Terrorism
  • International Standards for Combating Terrorist Finance and Anti-Money Laundering

Compliance Program Governance for Anti – Money Laundering / Combatting Terrorism Finance

  • Basic Terms and Definitions
  • Regulatory Compliance Management Frameworks
  • Regulatory Compliance by Design and Tone at the Top
  • Roles and Responsibilities

    • Board of Directors
    • Senior Management
    • Business Unit Leaders
    • Compliance
    • Legal
    • Internal Audit

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