Risk Management for Directors and Officers

Why Should You Attend:

Organizations are exposed to governance, compliance and ethical risks daily. Coupled with the current economic, regulatory and social climate, these risks have propelled corporate governance, compliance management and integrity to a top business priority. More than ever, the business community perceives the need not only to articulate the principles of good governance, compliance, risk management, and ethics — but also to integrate these concepts into the fabric of day-to-day business — and use them to drive better performance.

In this session, we will discuss leading and emerging risk management practices and demonstrate how to improve your organization's risk management capabilities. The speaker will present proven techniques and tools that you can use to assess and improve your risk management design and operating effectiveness. Participants will be provided an audit framework that they can use and also resources that you will find useful.

Areas Covered in the Webinar:

• PART 1 – Risk Management Capabilities
  • Business drivers and need to focus on the organizational strategic direction
  • Attributes of an effective risk management program
  • Fundamentals
    • The risk management “fan' pictorial
    • The OCEG management framework
  • Advanced practices
    • Board Risk Oversight (NACD)
    • The ISO 31000 risk management standard
• PART 2 – Assessing Risk Management
  • Audit framework (general audit steps)
  • Audits – planning, scope, objectives, testing
  • Audit reports, audit opinions, audit risk assessments
• PART 3 – Tools and Techniques
  • Board Risk Oversight - NACD
  • The Board 20 Questions Risk Management - CICA
  • COSO ERM Framework - COSO
  • Management reporting of risk program and risk program plans/results
  • Emerging practices – ISO 31000
  • Recent research efforts – CICA, Risk Oversight, etc
• Part 4 – Resource Summaries
  • NACD
• CICA
• IIA
• ISACA
• ISO31000
• COSO
• Frameworks
• Leading web site resources

Who will Benefit:

• Board Members
• Executive Management with oversight responsibilities for risk management
• Risk Managers
• Chief Audit Executives
• Internal Auditors
• CEOs, CFOs, Chief Legal Counsel

Instructor Profile:

Dan Swanson, President of Dan Swanson and Associates, Ltd., is a 25-year internal audit veteran, who was the Director of Professional Practices at the Global Office of the Institute of Internal Auditors (IIA). Prior and subsequent to the IIA, Swanson was an independent management consultant for more than 15 years. He has completed audit projects for more than 30 different organizations, spending almost 10 years in government auditing, at the federal, provincial, and municipal levels, and the rest in the private sector, mainly in the financial services, transportation, and health sectors.

Swanson led the writing of the OCEG internal audit guide for use in auditing GRC programs and also participated in the SEC sponsored COSO small business task force efforts to provide guidance for small to medium public companies regarding internal control over financial reporting. The author of more than 200 articles on internal auditing and other management topics, Swanson is currently an independent management consultant and freelance author. Dan published his first book in 2010, entitled SWANSON on Internal Auditing - Raising the Bar!

Topic Background:

An effective internal audit function is a valuable resource for management, the board and audit committee due to its understanding of the organization and its culture, operations, and risk profile. The objectivity, skills, and knowledge of competent internal auditors can contribute to the effectiveness of an organization's internal control, risk management, and other governance processes. Internal audits of Risk Management capabilities will greatly assist in improving the governance practices of your organization.

Board risk oversight can be a silver bullet but a long term journey approach/view is needed.

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