course | Certified Enterprise Risk Specialist (CERS)
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PMCM-422 | Certified Enterprise Risk Specialist (CERS)
Course Sector : Project & Contract Management
| Duration | Date from | Date to | Course Venue | Course fees | Book a course |
|---|---|---|---|---|---|
| 5 Days | 2025-12-22 | 2025-12-26 | Abu Dhabi | $4,250 | Book now |
Course Introduction
Ignoring high-consequence, low-likelihood risks can be damaging to an organization but preparing for everything is impossibly costly. In the current business environment, as well as the inevitable implications that COVID-19 has brought, risks has come in various forms and has led to industry disruptions. Enterprise risk management enables an organization to identify and assess these challenges and prepare solutions on how to resolve it.
This training course is designed to provide participants with the essential concepts related to Enterprise Risk Management. This course will explore the methods on how to design and implement an effective risk management program and processes, how to enhance performance of the organization, and create strategic solutions to identified risks.
Course objective
- Gain a comprehensive understanding of the different components and principles of COSO ERM Aligning Risk with Strategy and Performance and the COSO Internal Control – Integrated Framework
- Identify the different types of risk identification methodologies.
- Familiarize oneself with the ISO 31000:2018 framework and understand the difference as compared to the related COSO framework.
- Increase understanding of the PESTEL Analysis and how to use it to understand the organizations environment.
- Utilize “Root Cause” when developing risk mitigation plans as well as the automated controls as a solid path to sound risk mitigation.
- Recognize areas of challenges in enabling effective internal controls.
- Understand surrounding concepts and current updates on Fraud Risks including anti-fraud controls.
Course Outline | Day 01
Introduction to Risk Management
- Current State of Risk Management
- Different Risk Management Frameworks
- Organizational Culture & Risk Management
- The Risk Management Maturity Model
- The Risk Management Road Map
- The Chief Risk Officer – A Change Agent
Corporate Governance& Risk Management
- The Three Lines of Defense
- The Role of the Board in Risk Management
- The Board Risk Management Committee
- Authority & Accountability
- Tone at the Top and Code of Conduct
Course Outline | Day 02
COSO ERM – Aligning Risk with Strategy & Performance
- → Governance & Culture
- Exercises Board Risk Oversight
- Establishes Operating Structures
- Defines Desired Culture
- Demonstrates Commitment to Core Values
- Attracts, Develops and Retails Capable Individuals
- → Strategy & Objective Setting
- Analyzes Business Context
- Defines Risk Appetite
- Evaluates Alternative Strategies
- Formulates Business Objectives
- → Performance
- Identifies Risk
- Assesses Severity of Risk
- Prioritizes Risk
- Implements Risk Responses
- Develops Portfolio View
- → Review & Revision
- Assesses Substantial Change
- Reviews Risk & Performance
- Purses Improvement in Enterprise Risk Management
- → Information, Communication & Reporting
- Leverages Information & Technology
- Communicates Risk Information
- Reports on Risk, Culture & Performance
Course Outline | Day 03
COSO Internal Control – Integrated Framework
- → Control Environment
- Demonstrates commitment to integrity and ethical values
- Exercises oversight responsibility
- Establishes structure, authority, and responsibility
- Demonstrates commitment to competence
- Enforces accountability.
- → Risk Assessment
- Specifies suitable objectives
- Identifies and analyzes risk
- Assesses fraud risk
- Identifies and analyzes significant change
- → Control Activities
- Selects and develops control activities
- Selects and develops general controls over technology
- Deploys control activities through policies and procedures
- → Information & Communication
- Uses relevant information
- Communicates Internally
- Communicates externally
Course Outline | Day 04
The ISO 31000: 2018 Framework
- → Principles
- Value Creation & Protection
- Continual Information
- Integrated
- Structured & Comprehensive
- Customized
- Inclusive
- Dynamic
- Best Available Information
- Human & Cultural Factors
- → Process
- Scope, Context , Criteria
- Risk Assessment
- Risk Identification
- Risk Analysis
- Risk Evaluation
- Risk Treatment
- Recording & Reporting
- Communication & Consultation
- Monitoring & Review
- → Framework
- Leadership & Commitment
- Integration
- Design
- Implementation
- Evaluation
- Improvement
- → Compliance Risk Management
- → Defining Compliance Risks
- → Applying the COSO ERM Framework to Compliance Risk Management
- → Conducting Compliance Risk Assessments
- → Identifying Compliance Risk Factors
- → Developing the Compliance Monitoring Program
- → Applying the ISO 19600:2018 to Compliance Risk Management
- → Fraud Risk Management
Course Outline | Day 05
Fraud Governance
- → Hiring Board Directors
- → Related Party Transactions
- → Conflicts of Interest
- → Code of Conduct
- → Performance Assessment
- → Embedding Fraud Risks in Strategy Development
- → Remuneration Policies
- → Fraud Risk – Risk Management, Internal Audit or Compliance?
- → Policies & Procedures
- → Culture
- → Whistleblowing
- → Systems & Automation
- → Know Your Employee (KYE)
- → Know Your Supplier (KYS)
- → Know Your Customer (KYC)
- → Employee Accountability
- → Performance Measurement
Fraud Risk Assessment & Identification
- → Types of Fraud Risks
- → Analyzing Internal & External Factors
- → The Fraud Triangle – A critical tool to risk assessment & Identification
- → Data Analytics & Risk Identification
- → Documenting Fraud Risks
- → The Fraud Risk Register
Anti-Fraud Controls
- → Preventive & Detective Controls
- → Automated Vs. Manual Controls
- → Control Reports & Data Analysis
- → Technology & Related Controls
BOOST’s Professional Attendance Certificate “BPAC”
BPAC is always given to the delegates after completing the training course,and depends on their attendance of the program at a rate of no less than 80%,besides their active participation and engagement during the program sessions.
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