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From tight-rope walking to crossing the road,'risk' is characteristic of most human experience. In business it is at the heart of all the key decisions leaders’ have to take.
The fundamental risk issue for business concerns return on investment – profit or loss. Being able to assess the risk/reward ratio for a project or investment and decide what is an acceptable risk to take is a critical leadership skill – so too is understanding how to take appropriate precautions against possible failure if the investment goes wrong.
Allied to pure financial risk there are many other risk factors that can have an impact – external competition, failure to innovate, reputational risk, physical- and cyber- security risks, etc., all have a bearing on business performance and need to be protected against.
Today, almost ten years, after the global financial crisis, managing risk is a preoccupation for leaders in organizations of all types and sizes.
“For organizations to succeed, they must strike a balance between risk and reward to create and protect enterprise value. Effective risk management is an essential competency to support business performance in a changing environment and yet few business leaders have benefited from training in this area” says Carmen Rossiter the Director of the Centre of Excellence in Governance, Risk Management and Control at Schulich School of Business.
This program is aimed at executives from a diverse range of business areas, including risk management; finance, accounting and audit; corporate planning and business development; marketing, sales and product development; and systems, technology and project management – in both private and public and private sector organizations
To study the relationship between risk and business performance and examine specific risk-drivers impacting your organization to lay the foundation for successful enterprise risk management the Masters Certificate is delivered through the following three modules:
MODULE 1: Foundations Certificate
The Foundations Certificate sets the tone for the entire Masters Certificate program. It provides leaders with the essential foundation to establish and maintain a successful risk program to support business performance. The program crystallizes the value proposition for risk management with hindsight from lessons learned from the financial crisis and other events. It equips participants to tailor a risk management framework, establish clear oversight and governance and develop a roadmap for successful implementation.
MODULE 2: Risk Implementation Certificate
The Risk Implementation Certificate builds on the first module to provide business and risk leaders with the capabilities to design or refine the key elements of their risk infrastructure. This module addresses the six essential elements of a risk infrastructure including: (i) strategy and policy; (ii) people and capabilities; (iii) processes and workflows; (iv) frameworks, methodologies and measurement tools; (v) data gathering and business reporting; and (vi) technology enablement. Each element will be reviewed with practical implementation guidance provided.
MODULE 3: Advanced Risk Practices Certificate
The Advanced Risk Management Certificate assumes participants have completed the earlier modules, or have formal risk management training. Participants will learn to address rapid change and emerging risk, and how to effectively profile risk and report to key stakeholders including senior management, boards and the public. Leaders will share experiences and best practices through case studies from leading
N.B. Individual modules of this program are available as standalone courses.
Based in Toronto, Canada, the Schulich Executive Education Centre (SEEC) is a world-leader in individual learning and corporate learning
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