Course Details

Risk Management, Control & Compliance (Corporate Governance) Training Course

INTRODUCTION

In today's complex business environment, organizations must navigate various risks while ensuring compliance with regulatory frameworks and internal controls. Effective risk management, control, and compliance practices are essential to good corporate governance, ensuring organizations not only meet their objectives but also maintain the trust of stakeholders. This training course is designed to help professionals understand the principles and practices of integrating risk management, internal controls, and compliance into corporate governance frameworks.

The course offers a comprehensive approach, combining theoretical knowledge with practical applications. It covers the importance of aligning risk management strategies with business goals, setting up effective control systems, and ensuring that organizations comply with regulatory requirements and ethical standards. Participants will gain insights into global best practices and learn how to develop a robust risk management framework that strengthens corporate governance and organizational performance.

DURATION

5 Days

TARGET AUDIENCE

By the end of this course, participants will have a solid understanding of how to integrate risk management, internal controls, and compliance into a comprehensive corporate governance framework. This will help them to safeguard organizational assets, ensure compliance with regulations, and enhance stakeholder trust and corporate performance.

The following would benefit from this training course:

• Board Members and Executives
• Risk Management Officers
• Compliance Officers
• Internal Auditors
• Corporate Governance Professionals
• Legal Counsel and Regulatory Affairs Professionals
• Finance and Operations Managers

OBJECTIVES

By the end of this training, participants will:

1. Understand the Role of Risk Management in Corporate Governance: Learn how effective risk management enhances corporate governance and contributes to business success.
2. Develop a Risk Management Framework: Gain knowledge of the key components of an integrated risk management framework, including risk identification, assessment, mitigation, and monitoring.
3. Learn Best Practices in Internal Controls: Understand the importance of internal control systems in managing risks and ensuring organizational efficiency and transparency.
4. Ensure Regulatory Compliance: Understand regulatory frameworks and how compliance can be integrated into daily operations to avoid legal and financial penalties.
5. Align Risk, Control, and Compliance Functions: Learn how to align risk management, internal control, and compliance functions to create a cohesive governance structure.
6. Promote Ethical Governance and Accountability: Understand how strong governance structures promote accountability, transparency, and ethical business practices.
7. Implement Continuous Monitoring and Improvement: Learn strategies for continuously improving risk management, control, and compliance processes to adapt to changing business environments.

COURSE OUTLINE

Module 1: Introduction to Risk Management, Control, and Compliance in Corporate Governance

• Overview of corporate governance and its principles
• The role of risk management, control, and compliance in governance
• Global governance standards and frameworks (COSO, ISO 31000, OECD)
• Understanding the link between risk management and strategic objectives
• Case studies on corporate governance failures due to poor risk management and compliance

Module 2: Risk Management Frameworks and Strategies

• Key concepts of risk management (risk identification, assessment, and response)
• Developing a comprehensive risk management framework
• Types of risks (strategic, operational, financial, compliance, reputational, etc.)
• The role of the board and executive leadership in risk oversight
• Risk appetite and tolerance: Setting limits for risk exposure
• Implementing risk management policies and procedures
• Real-life examples of risk management strategies in organizations

Module 3: Internal Control Systems and Best Practices

• Definition and purpose of internal controls
• Components of an effective internal control system (COSO framework)
• Establishing internal controls for financial and operational risks
• Monitoring and testing controls for effectiveness
• Internal audit’s role in assessing internal controls
• Identifying weaknesses in internal control systems and corrective actions
• Case studies on internal control failures and lessons learned

Module 4: Regulatory Compliance and Corporate Governance

• The importance of regulatory compliance in corporate governance
• Key regulatory frameworks and legal obligations (e.g., Sarbanes-Oxley Act, GDPR, FCPA)
• Understanding sector-specific regulations and their impact on governance
• Compliance management systems and how to implement them
• Best practices for staying up-to-date with changing regulations
• The role of compliance officers in ensuring adherence to laws and regulations
• Case studies on compliance breaches and their consequences

Module 5: Integrating Risk Management, Control, and Compliance Functions

• Aligning risk management, internal controls, and compliance within the governance framework
• Creating synergies between risk, control, and compliance to enhance organizational performance
• Developing a governance structure that supports integrated risk management
• Overcoming common challenges in aligning risk and compliance functions
• Examples of successful integration of risk management, control, and compliance

Module 6: Ethical Governance, Accountability, and Transparency

• The role of ethics in corporate governance
• Establishing a corporate culture that promotes ethical behavior
• Accountability mechanisms within governance structures
• Role of the board, executive management, and stakeholders in maintaining ethical governance
• Implementing whistleblower policies and ensuring transparency
• Case studies on ethical lapses and how governance frameworks responded

Module 7: Continuous Monitoring, Auditing, and Improvement

• Importance of continuous monitoring in risk management and compliance
• Using internal audits to assess the effectiveness of governance systems
• Continuous improvement of risk management, control, and compliance processes
• Leveraging technology for better monitoring and control (e.g., automation, AI, data analytics)
• Setting up metrics and KPIs for measuring risk, control, and compliance performance
• Real-life examples of organizations that successfully implemented continuous improvement practices

Module 8: Crisis Management and Business Continuity Planning

• Understanding crisis management as a critical element of risk management
• Developing a business continuity plan (BCP) to address unforeseen disruptions
• Role of governance in crisis management and recovery
• Integrating risk management, control, and compliance into crisis management plans
• Case studies on crisis management and business recovery

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com