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Governance Arms of Risk Management



The Governance Arms of Risk Management training program allows you to 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.

Program Objectives:

At the end of this program 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.

Program Outline:

Unit 1:

Corporate Governance Fundamentals:

  • Understanding Corporate Governance: Definition, Concept, Rules, and Principles.

  • OECD Guidelines for Corporate Governance: Global Standards.

  • Roles of Management and the Board of Directors in Corporate Governance.

  • Duties of Top Management and the Board in Upholding High Corporate Governance Standards.

  • Implementation of Corporate Governance: Control Mechanisms, Procedures, and Relationships.

Unit 2:

Risk Management Essentials:

  • Introduction to Risk Taxonomies and the Risk Catalog.

  • Frameworks for Global Risk Management.

  • Basics of Enterprise Risk Management.

  • Identifying Credit, Financial, Operational, Legal, and Ethical Risks.

  • Recognizing Fraudulent, Non-compliance, and Reputational Risks.

Unit 3:

Synergy of Risk, Compliance, and Internal Audit:

  • Understanding the Convergence and Differences between Risk, Compliance, and Internal Audit.

  • Collaboration and Cooperation among Risk, Compliance, and Internal Audit Functions.

  • Evolution of Internal Auditing towards Risk-Based Approaches.

  • Utilizing Risk-Based Auditing Methodologies and Techniques.

  • Conducting Control Environment Audits to Ensure Effective Governance.

Unit 4:

Implementation of Risk-Based Internal Audit Plans:

  • Determining Internal Auditing Universe and Risk Maps.

  • Developing Transparent Audit Plans for Approval.

  • Assessing Compliance Risk and Management.

  • Methodologies for Risk Assessment, Monitoring, and Evaluation.

  • Designing Risk Mitigation Controls and Conducting Self-Assessments.

Unit 5:

Anti-Money Laundering and Regulatory Compliance:

  • Understanding Money Laundering and Terrorism Financing.

  • International Standards for Combating Financial Crimes.

  • Governance of Compliance Programs for Anti-Money Laundering and Terrorism Financing.

  • Regulatory Compliance Management Frameworks and Design.

  • Roles and Responsibilities of Board of Directors, Senior Management, Business Unit Leaders, Compliance, Legal, and Internal Audit in Regulatory Compliance.

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