Fifty years ago, "risk management" in most companies meant one thing: buying insurance. Today it is a core function that touches strategy, reporting, compliance and day-to-day operations — and organizations that still treat it as an insurance line item are exposed to risks they never see coming.

This course, delivered by the Arab British Fellowship Training Academy, places enterprise risk management inside the wider Governance, Risk and Compliance ecosystem. Drawing on the COSO framework — the most widely accepted model for controlling risk worldwide — participants learn to read the internal environment, define objectives, identify and respond to risk, and report on it across every function and industry the organization touches.

What You Will Be Able to Do After This Course:

• Explain the fundamentals of enterprise risk management and how it fits within corporate governance.
• Identify the risks that people, processes and systems create, and how they affect operations and financial position.
• Read the warning signs early enough to act before a risk turns into a threat.
• Strengthen risk-based decision-making and link risks to their potential cost and to business planning.
• Apply a set of techniques that support management in making sound, risk-informed decisions.

Who Should Attend:

• Directors and owners of large commercial and industrial companies.
• General and executive managers in public and private companies.
• Heads of internal audit offices and audit-department managers.
• Financial control staff and anyone seeking contemporary approaches to financial auditing and risk detection.

Module 1: Why Risk Governance Matters Now

• Perception of danger and why organizations should care about risk
• An introduction to the world of governance, risk and compliance
• Risk management as part of corporate governance, and what governance failure looks like

Module 2: Reading the Risk Environment

• Changes in the internal environment: structures, processes and culture
• Changes in the external environment: social, economic, regulatory, technological and competitive factors

Module 3: The Enterprise Risk Management Framework

• Components of enterprise risk management and setting objectives
• Defining, analyzing and assessing risk (quantitative and qualitative)
• Responding to risk, control activities, information flow, and ongoing monitoring

Module 4: Categories of Risk Across the Organization

• Strategic risks and risks related to reporting
• Financial risks and physical hazards (life and work safety)
• Legal compliance and financial-reporting standards

Module 5: Decisions, Controls and Audit

• Making decisions based on risk, and risk management's place in the corporate-controls environment
• How risk management shapes the design of controls
• Internal audit's assessment of risk-management performance, and the audit process itself

Module 6: From Assessment to Practical Precautions

• How risk management has evolved, and its benefits and structure
• Precautions needed to avoid risk, and how risk connects to organizational policies and procedures
• Why and when to assess risk, certification methods for risk assessment, and dealing with corruption-related risks