

Governance Arms of Risk Management
Overview:
Introduction:
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
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Roles and Responsibilities
- Board of Directors
- Senior Management
- Business Unit Leaders
- Compliance
- Legal
- Internal Audit