FERMA RIMAP Certification Course
The “Hellenic Association of Risk Managers” (www.harima.gr) member of FERMA (Federation European of Risk Management Associations, www.ferma.eu) & FECMA (Federation of European Credit Management Associations, www.fecma.eu), with the support of “Academics University of London Worldwide” and SEV and in collaboration with the “Risk Training Institute” of ICAP CRIF, present the “FERMA RIMAP Certification Course“ training program that leads to the corresponding certification after examinations.
Description
The aim of the program is to provide a robust and coherent risk educational material of all key elements of today’s risk management practices, methodologies, tools and trends yet in line and compatible with FERMA rimap certification program as an attempt to organize and re-structure the risk management industry aiming to give a strong identity to the profession, making sure executives, boards, human resource departments and academics value the profession as it really is.
Professionals in the field of Risk Management (from junior to senior) but also in related areas (insurance, finance, operations, internal audit, compliance) who want to be prepared to participate in the exams organized by FERMA for RIMAP, an independent certification of a risk manager's professional competence and experience, recognized at European level. More information on https://www.ferma.eu/rimap-certification/
Practical applications for the design and development of Risk Management and ERM systems, guide to risk identification-assessment-treatment, monitoring and impact assessment, necessary qualifications, capabilities and skills of risk management executives, references to individual risk frameworks (e.g. Compliance, System Security, Third Party Risk Management, Crisis Management, Reputation Risk Management, ERM relation to ESG etc.)
About
Subject Areas
Open to see the Subject Areas:
Risk Complexity
Risk Identification
Risk Assessment
Impact and Likelihood Factors
Risk Illustration
Reporting Necessity
Risk Monitoring
Risk Frameworks (ISO, COSO, COBIT, NIST)
ERM Fundamentals
ERM Methodology
ERM and Sustainability
Strategic Alignment
Trends-Threats-Practical Examples
MODULE-1 RISK MANAGEMENT ESSENTIALS (8 hours)
Principles and aims of enterprise-wide risk management
Risks in daily life.
Enterprise risk management
Risk management objectives.
Increasing global complexity and risk
Risk management frameworks and standards
Risk management frameworks
Different frameworks.
COSO Enterprise risk management—Integrating with Strategy and Performance
ISO 31000:2018 Risk management—Guidelines.
Other standards
Risk management in the organization
The history of risk management.
Risk management in the organization.
The three lines of defense model.
Benefits and limitations of the three of lines of defense model
Developing a risk aware culture
Organization strategy, objectives, responsibilities, structure and program
Risk management responsibilities
Elements of a risk management framework.
Monitoring
Reviewing
Strategic risk management
The strategic direction of risk management
Risk appetite and risk tolerance
Strategy
Strategic management processes
Risk management and strategic planning
The corporate risk profile
Types and impact of risk on organizations
Defining risk
Types of hazards
Types of risk
Impact of risks
Recording risk assessments
Risk management process: identification, assessment, treatment,
The risk management process.
Establishing the context
Risk assessment
Reduction and controls
Risk financing
Feedback mechanisms
Added value, cost and benefits of risk management
Cost of risk
Benefits of risk management
MODULE-2 RISK ASSESSMENT (8 hours)
Risk and uncertainty and their impact on strategy
Definitions of risk and risk management
Uncertainty and likelihood
Risk influenced strategy
Risk policy
Risk tactics
Risk identification and classification
Risk classification
Description and identification of principal risks
Correlated and consequential risks
Classification of loss exposure
Risk identification techniques
Methods of identifying risks and loss exposures
Risk identification
Other methods
Risk analysis tools and techniques
Analysing risks – an overview
Qualitative methods
Semi-quantitative methods
Quantitative methods
Risk modelling
Financial models for risk management
Capital asset pricing model (CAPM)
Economic capital
Key risk indicators
Risk register, risk matrix, risk profile, risk map
Documenting the risk identification process
Risk register
The risk matrix
The risk profile
Risk mapping
MODULE-3 RISK TREATMENT (I) (8 hours)
General aspects of risk treatment
Introduction to risk treatment
Risk appetite and risk tolerance
Risk criteria
Economics of risk treatment
Identifying and designing risk treatments
Identifying and designing risk treatments
The effects of risk treatments
Principles of risk allocation
Methods of allocating risk..
Cost-benefit analysis
Risk control/reduction techniques
Risk avoidance/suppression
Risk mitigation/preventive techniques
Loss reduction techniques
Separation, diversification and duplication techniques..
Introduction to disturbance management and BIA
Levels of disturbance and appropriate responses..
Business impact analysis
Business continuity, emergency and crisis management
What is business continuity?..
Recovery strategies
Business continuity planning
Testing and training programmes
Awareness
Communication and crisis management programmes
Individual Risk & General/financial risk-related controls
Individual risks
Compliance & Conduct Risk Management
Cybersecurity Risk Management
Third-Party Risk Management
Digital Risk in a Digital Era
World Risk Trends & Threats
Control set-up
MODULE-4 RISK REPORTING & MONITORING (8 hours)
Traditional vs. ERM Risk Management
The risk of silos
Strategic Objectives
Risk Appetite Statements
Monitoring and Reporting
CRO Role
CRO role, skills, requirements, position, expectations
CRO role in light of Corporate Governance Regulation
MODULE-5 RISK TREATMENT (II) (4 hours)
Risk financing techniques
Risk financing
Risk retention
Risk transfer
Insurance
Insurance market
Purchasing insurance covers
Claims history–based premiums
Limit setting on insurance contracts
Insurance terms and documents
Material contractual obligations
Reinsurance
Definition of reinsuranc
Reinsurance marke
Classifications
Choosing the method and type of reinsurance
Proportional reinsurance
Non-proportional reinsurance
Captive (re)insurance companies
Definition of captives
The commercial case for a captive
Classification
Alternative risk transfer
General introduction to capital markets products for risk financing
Contingent capital arrangements
International insurance market
The role of reinsurance in the international insurance market
International insurance programs
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Hours Live Online
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Skilled and Profesional Lecturers
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Ambitious Training Attendes
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Years of Experience
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