RISK MANAGEMENT

TRAINING COURSE
US 120303 NQF level 5 8 credits
3 Day Course
www.prosam.co.za
Office No. 1, Second Floor, Florida Arcade, 18B Goldman Street
,Florida, 1709, Gauteng, South Africa
+27 (81) 432 1537 | +27 (78) 103 0657 | TEL: +27 (11) 425 1748
INTRODUCTION

The primary objectives of the Effective Risk Management Programme are to empower delegates
to be able to achieve enterprise wide strategic objectives amid various compelling environmental
forces that threaten the failure to achieve such objectives. It seeks to equip delegates to be able to
set in motion effective systems that will:

1. Identify Risks
2. Quantify and Document Risks
3. Assess and Evaluate Risks
4. Determine Own Risk Appetite
5. Manage & Control Risk
6. Monitor Risks that threaten service delivery and other public sector objectives.

The Public Sector Risk Management Framework represents the pre-eminent source of reference
and guidance on risk management practices in the public sector. The Framework aims to support
the objectives of public sector institutions through providing information and guidance to enable
the implementation and maintenance of effective systems to identify and mitigate the risks that
threaten the attainment of service delivery and other objectives, and optimise opportunities that
enhance institutional performance.

COURSE OBJECTIVES
By the end of this course delegates will be able to:
• Understand the Concept of Risk
• Understand the place of risk in the context of the strategic actions of an organisation
• Recognise the Different Types of Risk:
- Financial Risk
- Legal Risk
- Operational Risk
- Ethical Risk
- Market Risk
- Reputational Risk
• Processes to Identify & Assess Risk
• Understand the enterprise risk management process
• Corporate Governance & Risk
• Risk & The Role of Management
• Be able to undertake risk assessment and treatment mechanisms in the organisational context
• Have the necessary knowledge to select appropriate risk indicators and monitor risks
• Have the capacity to drive a risk-aware culture in the organisation
• Utilise key tools and techniques for enterprise risk management
• Identify downside and upside risks and develop a good risk register
• How to Control Risks identified in your risk register
• Financial Risk as an Extension of Business Risk
• Risks associated with Legislation
• How to Report Risk Effectively
• Approaches to Risk Management
• Risk Mitigation techniques in a dynamic environment
• Civil & Public Liability
• Internal Auditing
• An Integrated Approach to Risk
COURSE CONTENT
The following will be covered by the course
in line with specific client requirements:
MODULE 1: FUNDAMENTALS OF RISK
MANAGEMENT
• Background of risk management
• What is risk: Exploring the Nature and
Concept of Risk?
• Understanding the downside and upside
potential or risks
• What risk Management
• Understanding the place of Risk in the
Strategic Context of an Organisation
• Basics of Enterprise Risk Management
• The Enterprise Risk Management Process
Outlined
MODULE 2: LEGISLATIVE FOUNDATION FOR
RISK MANAGEMENT
• System of Risk Management
• PFMA
• Treasury Regulations (risk assessment,
risk management strategy, fraud
prevention plan; communication to all
officials; incorporation into the language
and culture of the institution)
• Internal Audit
• Risk Management of the International
standards for the Professional Practice of
Internal Auditing
• Audit Committee
MODULE 3: RISK IDENTIFICATION SYSTEMS
& MECHANISMS
• Techniques for Risk Identification
• Risk Identification & the Environmental
- Immediate Environment
- Internal Environment
- External Environment
• Identifying Risks from their Sources
• Nuts and Bolts: PESTEL; SWOT, 5 Forces
Model, Stakeholder Mapping ec
• What is risk assessment?
• The role of Risk Assessment in Enterprise
wide Risk Management
• How to risks analyzed/categorized?
• Developing the skills for understanding
risk indicators (The Manager’s Dash
Board)
• What is risk control?
• What is risk mitigation?
• What is risk planning?
• What is risk monitoring?
• What is risk communication
MODULE 4: DEVELOPMENT & MANAGE-
MENT OF A RISK REGISTER
• Accurate description of the risks, causes
and respective impacts;
• Clear and accurate outline of the existing
controls;
• Regular management and prioritising of
Risks in the Risk Register
• Assigning responsibility and
accountability for identified risks
• Assessment of the consequences of the
risk should it occur
• Assessment of likelihood of the
consequence occurring, given the
controls;
• Exploring various risk rating scales;
• Advantages of different types of Risk
Rating scales (10point scale, 5 point
scale, 4point scale)
• Overall priority for the risk
MODULE 5: RISK MANAGEMENT
IMPLEMENTATION PLAN AND
CONSEQUENSES OF INEEFECTIVE
IMPLEMENTATION
• Understanding the objective of Risk
Management
• Aligning Risk Management initiatives
with Strategic Organizational goals
• Selecting the correct Approach to Risk
Management
• Detailed risk management
implementation plan
• Consequences of ineffective
implementation
• Operational and strategic surprises;
• Breakdowns in internal controls
• Reactive responses vs proactive
responses;
• Impact on its continuity of operations;
• Responsiveness and flexibility of the
institution;
• Management of changing / new risks
• Barriers for the successful
implementation of Risk Management
MODULE 6: RISK MANAGEMENT
MONITORING & REPORTING
• Risk Ownership
• Driving a Culture of Risk Awareness in
the Organisation
• Mechanisms for creating awareness of
top risks
• Conducting regular risk review sessions
• Involving all relevant stakeholders in the
day to day risk management processes
• Inherent Risk Exposure and measures to
curb likelihood vs Impact
• Control Effectiveness
• Residual Risk Exposure
• Current Key Controls and Continuous
Improvement Systems
• Actions to Improve Controls
UNIT STANDARD ALIGNMENT
This course is an accredited programme
and material covers unit standards:
US 120303, NQF level 5 - 8 credits