Organisational Risk Leadership: Systemic Risk Management

Overview

This is Day 3 of a unique three day series that uses systems thinking as a basis for a powerful new approach to risk management. Systemic risk management challenges the status quo and provides new thinking, methods and tools for risk leaders.

Course Content

Day 3 brings together the insights from Days 1 and 2 and places them into a larger governance context. It commences by demonstrating that 'decision making' is the underlying activity that must be optimised for effective governance. Day 3 covers governance basics, decision making, and essential risk management processes. It also defines three levels of risk, as an important basis for the effective management of risk in hierarchical organisations. Resilience is discussed in the context of the risk management response to the Global Financial Crisis. However, the most important topic on Day 3 is the introduction of Systemic Risk Management. SRM is defined within the broader context of governance, decision making, and business frameworks. This leads to a capability based model for risk management, and to a systemic risk management framework. A systemic strategy for organisational risk management is proposed, and practical implementation issues identified. The last session of Day 3 is a ‘robust’ debate on contentious risk management thinking and issues, ensuring that the whole Masterclass series is placed within a larger risk and governance perspective.

Course Outcomes

By the end of this course attendees should be able to:

• enhanced understanding of the critical relationships between governance, decision making and risk management;
• articulate the difference between several levels of organisational risk;
• understand the concept of Systemic Risk Management and the role that Systemic Risk Analysis plays within that;
• recognise different governance and risk frameworks, and describe at least one effective systemic risk management framework;
• understand and apply a capability-based model for Systemic Risk Management; and
• develop an effective strategy for systemic risk management in their organisation, taking into account expected implementation challenges.

Benefits to your organisation

• a framework for systemic risk management as part of good governance; and
• an evidence based approach to organisational development.

Benefits to you

• improved understanding of the relationship risk management and governance; and
• an understanding of systemic risk management frameworks.