Interactive Exercises Every Day!

Strategic Risk
Management
The Route To Business Success

8 – 12 June 2008
JW Marriott Hotel, Dubai, UAE

Attend this informative course led by

world renowned expert Phil Griffiths and
learn how to:
• Sell and measure the benefits of positive risk
management
• Engage the Board and Audit Committee in the
risk process
• Identify, evaluate and manage the most
significant risks including reputation, political,
economic and information
“It was an excellent
• Increase the focus on and the delivery of experience which advanced
strategic objectives my professional ability. Dr.
• Enhance the understanding of the risks and Phil Giffiths is amazing
when discussing modern
exposures faced
challenges.”
• Enforce the ownership of risks Ghada Aref Elias
Commercial Bank of Dubai
• Build understanding of how risks are changing
• Integrate effective risk management into project “Knowledge driven,
development and partnership arrangements open for exchange
of information and
• Build a full record of key risks
experience.”
• Identify over-managed risks and unnecessary Mubasm Satti
controls Nama Chemicals

Organised by Official Regional Recruitment Partner Official IT Partner Official Media Monitoring Partner

T: 971-4-3352437 F: 971-4-3352438 E: register@iirme.com W: www.iirme.com/srm

 Dear Assurance Professional,
In the ever-changing Middle East business environment,
encountering risk is inevitable. The ability to manage these
increasingly significant risks now represents the difference
between a thriving organisation and one that is floundering
in a sea of losses due to improper risk management.

Many businesses in the region have realised that the

outcomes of both fortunate and unfortunate unexpected
events can be preemptively molded into desired results. To
act on this realisation, though, requires extensive knowledge
of risk management tools and techniques. This is exactly
what you will find at Strategic Risk Management.

It is important to understand that poorly informed or

improperly executed risk management can mean disaster
of incredible proportions. Conversely, a well trained and
cognizant risk management team will enable your company
to maintain and strengthen your edge over your competitors.

Moreover, studies have shown that financial risk is only

the ‘tip of the iceberg’, as nearly 80% of key risks are not
insurable. This critical 80% must be ‘insured’ internally with
a capable risk management team.

Risk management has been catapulted from being a useful

tool to becoming the very pulse of the organisation and the
yardstick by which its management is judged. The key is to
recognise that risk is not something that should be avoided
– a risk is often an opportunity in disguise.

IIR’s Strategic Risk Management course has been

specially designed to provide you with all the skills and tools
you need to become a successful risk manager. It will show
you how to identify and evaluate risks, as well as how to
overcome them.

Phil Griffiths and I look forward to personally welcoming you

in June.

Yours sincerely,

Keith Parker
Conference Manager

P.S. Register now to gain a competitive edge through

risk management with the internationally recognised
Phil Griffiths!

Future Related Events

Balanced Scorecard Forum 23 – 27 March 2008

A0895 www.iirme.com/bsc

Due Diligence 31 May – 4 June 2008

BC2692 www.iirme.com/
duediligence

Mergers And Acquisitions 15 – 19 June 2008

BC2621 www.iirme.com/mergers

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Meet Your Expert Course Leader
Phil Griffiths is the founder and
Managing Director of Business Risk
Management Ltd.

A Chartered Accountant, he has

over 25 years’ experience in risk
management, internal audit and
fraud prevention as a practitioner,
professional adviser, facilitator
and trainer. He has held top
management positions with a
number of international groups, in
roles embracing Finance, IT and
General Management.

His specialisms are:

•A
 ssisting Senior Management to identify, manage and then
exploit the risks within their business via facilitated Business
Risk Management programmes
•H
 elping Internal Audit functions to implement world class
standards
•D
 eveloping fraud prevention, detection and investigation
programmes tailored specifically to clients’ requirements
•T
 raining both private and public sector organisations in each
of the above disciplines.

Phil is recognised as an accomplished and charismatic

facilitator, trainer and lecturer having advised many renowned
organisations, coordinated top-level events and addressed
national and international conferences on a wide range of
critical business topics.

He has worked extensively with all sectors in the Gulf during

the past 10 years to enable such organisations to exploit their
potential by managing their strategic risks and / or enhancing
the effectiveness of their internal audit services.

He is a renowned author and writer – his latest book ‘Risk

Based Auditing’ was published in 2006.

Who Should Attend?

Any executive or manager tasked with establishing,
implementing or facilitating a business risk process
or anyone tasked with providing assurance to senior
management that the significant risks are being managed
appropriately.

Course Overview
By attending this course, you will learn how to:
• Successfully evaluate the key risks identified
• Explain the alternative risk identification methods
•A  ssess risk mitigation practices and identify exposures
• Deal with exposures
• Engage stakeholders
• Establish a risk strategy
• Embed the risk management process into the corporate
culture
• Explain the key features of the various standards (AUS/
NZ, IRM/AIRMIC, COSO, BASEL etc)
• Cascade processes effectively
• Engage partners in processes
• Coordinate the efforts of the various assurance
providers

T: 971-4-3352437 F: 971-4-3352438
Course Timings
Registration will be at 08:00 on Day One. All five days will commence at 08:30 and conclude at 14:30 with lunch. There will be two
networking and refreshment breaks at appropriate times
Day One: Sunday, 8 June 2008
Understanding Major Business Risks
Breaking Down The Barriers
• Why senior management often lack a full understanding of the
risks in their business.
• The role and responsibilities of directors and the board with
respect to risk management
• Definition of business risk and its nuances
• Designing strategies and systems to suit the organisation
• The key link between corporate governance and risk
• Selling the benefits to top management
• Defining significance in relation to risk (in monetary and other
terms)
• Establishing a strategic business risk programme - the steps
to success
Background
• Why business risk management is receiving such publicity
• High profile corporate failures and public embarrassments
Exercise 1 – The Major Risks In Your Organisation
• The corporate governance debate
• Explanation of the AS/NZS 4360 standard – the internationally
recognised risk management standard + COSO + IRM standards
• Other potential legislation and regulation
• The issues involved
The Wider Business Agenda
• The need to understand the organisation’s strategic objectives
• Developing a programme to reflect these objectives
• Understanding the organisation’s risk appetite
• Categories of risk
• The risk management framework
Exercise 2 – Analysing A Disaster
• Risk management systems
Establishing An Embedded Risk Management Process
• Why is risk such a hot topic?
• Surprises and risk
• Why financial risks are only the tip of the iceberg
• The widening of the risk portfolio
• The challenges: basel, governance, non-exec’s liabilities and
so on
• The need to link risk management with strategic planning
• New and emerging risks: reputation, social and environmental
• Getting your chief executive’s support
• Developing a risk strategy for your organisation
• Establishing the business case
• Selling the benefits to management
• Risk and competitive advantage
• Risk workshops – the do’s & don’ts
Exercise 3 – Risk Taking In Action
Day Two: Monday, 9 June 2008
Practical Identification And Evaluation
Risk Identification And Evaluation
• Approaches and techniques
• How to establish a risk workshop process
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• The benefits of facilitation and the characteristics required
• The use of diagnostic questions and thought-provokers
• The pros and cons of using data capture technology
• How to identify, sift and group the risks
• Measuring the consequences and the likelihood of occurrence
of each risk
• The use of risk matrices to prioritise the risks
• Corporate governance reporting requirements
Interactive Risk Workshop – Part 1
Exercise 4 – An Actual Risk Workshop – With Your Own
Risks
Enabling you to appreciate all elements covered in a live
situation
Assessment Of Risk Mitigation
• Managing risk – the options
• Management evaluation of mitigation controls
• How to assess risk mitigation
• Identification of risk exposures
• Critical evaluation of exposures
• Dealing with the exposures (the 4 Ts - Terminate, Tolerate,
Treat or Transfer)
• Establishment of action plans
Interactive Risk Workshop – Part 2
Exercise 5 – Risk Mitigation And Dealing With The
Exposures In Practice
Day Three: Tuesday, 10 June 2008
Integrating The Risk Management Process
Integrating The Output From Risk Workshops Into The
Business Planning Process
• Linking corporate risks with the strategic planning process
• Linking operational risks into service planning
• Risk owners – how to determine such personnel and enforce
ownership
• Annual statements by risk owners
• Developing risk tracking
• Using the risk register as a decision skeleton
• Quarterly board reporting to review progress in addressing the
exposures
• Risk management committee reporting
• Half yearly evaluation of key risks to ensure that new risks are
identified and included
Exercise 6 – Team Exercise To Enable You To Appreciate
The Emerging Risks
The Converging Roles Of The Assurance Providers Under
The Risk Umbrella
• The increasing emphasis on governance, assurance and
control
• How should the various assurance providers rise to the risk
challenge?
• The need to coordinate quality assurance, security, insurance
and the health and safety functions in relation to risk
management
• The need to avoid duplication of effort
• How to spot the gaps
• Linking external auditors into the process
• The need to coordinate risk reporting
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Exercise 7 – How To Coordinate Assurance Across Your • Protecting the financial position
Organisation • Alliances, partnerships and contracts
• Fulfillment of promises
People And Process Risks • External evaluation
• Key risk themes and how to deal with them • Top down management of reputation
- Failure to manage projects effectively • Media management
- Loss of IT systems • Business continuity
- Failure of partners or inability to establish effective • Crisis management strategy
partnering • Sharing of values
- Loss of key personnel • Treatment of staff
- Hacking/ breach of system security • Attitudes of staff
- Failure to innovate • Community and other stakeholder requirements
- Poor prioritisation of systems development • Environmentally responsible sources/ treatments
- Loss of morale/ stress • Customer service
- Too much data – insufficient information • Management of complaints
- E-Commerce – the key risks and the steps needed to • Communication – internally and externally
mitigate them • Carrying out a vulnerability audit
- IT security – how to evaluate effectiveness and
influence change Exercise 10 – Corporate Governance

Day Four: Wednesday, 11 June 2008

The Most Difficult Risks To Manage
Reputation Risk
• Definitions
• The rise of reputation as a key risk
• The increasing importance of a positive image – the need to
be admired
• Reputation – the value measure of the 21st Century
•C  reating value from intangible assets
•W  here does reputation come from?
•H  ow do you measure it?
•T  he magnifying effect on reputation of business failures
•T  he explosion of regulation and external assurance
Exercise 8 – How To Judge Reputation
•T  he court of public opinion
• The relationship between vision, values, behaviour and reputation
•T  he link between organisational personality, identity and image
•M  oving reputation out of the PR arena and into the boardroom
•D  amage by association – partnering and alliances
• Identifying reputational risks
Day Five: Thursday, 12 June 2008
Reporting And Cascading The Process
Recording The Risk Environment
• Risk registers – the need to coordinate and link the output
• Flagging interdependencies – if one risk treatment is changed
the other party or parties impacted need to be notified
• Risk treatment analysis – how to determine the cost/ benefits
of dealing with exposures/ exploiting opportunities
• Risk management as a route to reducing bureaucracy
• How to use the risk process to break down cultural barriers
• Reports for senior management
Exercise 11 – Reports On Risk Management
• Making risk management second nature
• Keeping up the momentum
• Risk financing and how to introduce the disciplines
• Integrating incident management
• Business continuity planning
• Integrating health and safety, insurance claims and related items
• Measuring the benefits

Exercise 9 – Reputation Workshop Exercise 12 – Measuring The Benefits

•D iscussion of Delegates experiences
•Y ou will be provided a checklist for reviewing reputational risk. Cascading The Process
The checklist incorporates sections on: • Stakeholders interest in risk
- Financial performance • Workshops for other management levels
- The senior management role • How to measure the benefits
- Quality of service provision • Risk awareness for staff
- Treatment of staff
- Social responsibility Exercise 13 – Establishing A Risk Awareness Training
- Customer service Programme
- Information and communication • Sharing output with partners
• Evaluating risks within these relationships
Corporate Social Responsibility And Ethics • Risk indicators (KPIs)
•C  orporate Social Responsibility (CSR) • Auditing the risk management programme
•C  odes of conduct • The Internal Audit role in the risk management process –
•B  usiness ethics training guidance and advice
• Inclusion of ethics criteria within performance review • How to identify and reduce excessive controls
•T  he dangers of abusing leadership • Feeding key risks up the organisation
•S  ocial responsibility as an agent for positive change and better • Coordinating the whole process
performance – the halo effect • Useful web sites and reference books
• Managing stakeholder expectations
Corporate Governance • How to use the programme to change the culture in a positive way
•T
 he increasing importance of Corporate Governance
•H
 awkamah research results Exercise 14 – The Puzzle - A Final Exercise To Put All The
•R
 ecord of accountability Issues Covered In Context

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Strategic Risk
IIR Middle East certified by

Management IS0 9001: 2000

8 – 12 June 2008
JW Marriott Hotel, Dubai, UAE

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If you have eight or more delegates who need this training, contact IIR In-House on 971-4-3352439 or inhouse@iirme.com

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