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Description
The importance of Enterprise Risk Management (ERM) in finance cannot be overstated. Let’s consider the dramatic downfall of Olympus, Hyflux, and Noble Group, which underscores the critical need for robust risk management and unwavering ethical standards.
Olympus Corporation’s scandal revealed a massive $1.7 billion fraud hidden through complex accounting tricks. The lack of transparency and oversight led to devastating legal and financial repercussions, shaking stakeholder trust.
Similarly, Hyflux’s collapse highlights the perils of over-leveraging and inadequate project risk assessment. Their failure to manage risks prudently resulted in a severe liquidity crisis, leading to asset sales and damaging thousands of investors.
We will delve into these real-world examples, explore ERM frameworks, and emphasize the importance of ethical practices. By learning from these high-profile failures, you will gain the tools and insights needed to safeguard your organizations and foster a culture of integrity and accountability.
Programme Outline
- Importance of ERM and Ethics in Finance
- ERM Fundamentals and Concepts
- Benefits of ERM in Organizations
- ERM Frameworks - Overview of COSO and ISO 31000
- Key Components of Effective ERM Frameworks
- Techniques for Identifying and Assessing Risks
- Tools and Methodologies
- Case Study Analysis: Olympus Corporation
- Developing and Implementing Effective Risk Responses
- Importance of Ethical Practices in Finance
- Building a Culture of Integrity
- Case Study Analysis: Hyflux Crisis
- Importance of Continuous Risk Monitoring
- Best Practices in Risk Reporting
- Role of Leadership and Governance
- Interactive Exercises on ERM Implementation
- Real-World Scenario Analysis
This workshop qualifies for 5.0 CPE hours (Other Relevant Expertise) and 2.0 CPE hours in Ethics and Professionalism (Category 2).
What you will learn
- Grasp the core principles and concepts of Enterprise Risk Management
- Learn methods for identifying, evaluating, and prioritizing risks within an organization
- Develop and apply effective risk mitigation and response strategies
- Understand the importance of ongoing risk monitoring and accurate risk reporting
- Explore the role of ethics in finance and how to foster a culture of integrity and accountability
- Learn how to integrate ERM into organizational culture and strategic planning
- Understand the importance of strong governance structures and board oversight in effective ERM
- Gain hands-on experience through interactive exercises and discussions to apply ERM and ethical principles in real-world scenarios
Target Audience
- Finance Professionals
- Internal Auditors
- Risk Managers
- Compliance Officers
- Business Leaders and Senior Managers who would like to strengthen their knowledge of Enterprise Risk Management (ERM)
- Business Executives responsible for overseeing financial reporting and corporate governance
Participants should ideally have a basic understanding of financial principles and corporate governance. Prior experience in risk management or internal auditing is beneficial but not required.
Expert Speaker
Kingston Low
Kingston is a highly accomplished professional with extensive experience in Corporate Governance, Internal Audit, Risk Management, and Business Continuity Management (BCM). Holding multiple prestigious certifications including CA, CIA, CISA, CRMA, CBCP, and FFP, he brings a wealth of practical insights and expertise to the training environment.
With a career spanning over two decades, he has advised numerous boards and businesses on improving governance, productivity, and overall effectiveness. This includes providing strategic advisories, conducting trainings, and offering assurance services that have resulted in business redesign, risk mitigation, efficiencies, and cost savings. He is also actively involved in professional training initiatives and his training sessions are known for being engaging, practical, and designed to empower participants with the skills necessary to excel in their roles.
Throughout his career, Kingston has remained committed to sharing best practices, fostering organizational resilience, and preparing professionals to navigate complex governance and risk management landscapes. Participants can expect a dynamic learning experience that combines theoretical foundations with real-world insights, ensuring maximum impact and applicability.