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Training for the Risk Committee of the Board of Directors

The Board of Directors has risk management responsibilities that are defined not only by best practices and guidelines, but also by laws and regulations. The Risk Committee must assist the Boards in assessing the different types of risk to which the organization is exposed.

The Risk Committee is responsible to:

1. Learn about the actual risks and the control deficiencies in the organization.

2. Help the board define the risk appetite of the organization.

3. Exercise oversight of management’s responsibilities, and review the risk profile of the organization to ensure that risk is not higher than the risk appetite determined by the board.

4. Monitor the effectiveness of risk management functions throughout the organization. Ensure that infrastructure, resources and systems are in place for risk management and are adequate to maintain a satisfactory level of risk management discipline.

5. Monitor the independence of risk management functions throughout the organization.

6. Review the strategies, policies, frameworks, models and procedures that lead to the identification, measurement, reporting and mitigation of material risks.

7. Review issues raised by Internal Audit that impact the risk management framework.

8. Ensure that the risk awareness culture is pervasive throughout the organization.

9. Fulfill its statutory, fiduciary and regulatory responsibilities. This is usually the most difficult task.

To learn more: www.risk-committee.com

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Training for the Risk Committee of the Board, from Compliance LLC

This course is intended for potential, new and sitting directors that are members of the Risk Committee. It must be customized to meet specific needs.

Modules:

Understanding Risk
Risk Identification
From COSO to COSO ERM
New Directives and Regulations
The European Unions' Financial Services Action Plan (FSAP)
Enterprise Wide Approach to Risk Management
Monitoring and Reporting to the Board
Providing evidence to the auditors, the supervisors and the court
From policies to procedures
Conflicts of Interest after the new laws and regulations
Using Compliance and Risk Management as a competitive advantage

There are modules based on laws, directives, regulations and best practices

Examples:

Basel ii
Basel ii and Risk Management
Basic, standardized or advanced approach? And when?
The cost for compliance.
Operational Risk Management

To learn more: www.risk-committee-training.com

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Keywords

Risk Committee of the Board, Risk Committee of the Board Training

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