Enterprise Risk Management Initiative, Poole College of Management, North Carolina State University

Providing Thought Leadership, Education and Training on the Subjects of Enterprise Risk Management

Spring 2017 Enterprise Risk Management Workshop:  Evaluating Your Organization’s Approach

Spring 2017 Enterprise Risk Management Workshop:  
Evaluating Your Organization’s Approach

Date of Event:     Wednesday-Thursday, MARCH 22-23, 2017
Location:     Raleigh Marriott City Center
Cost:     $1395

Join us for our   Advanced ERM Workshop:  Evaluating Your Organization’s Approach on Wednesday and Thursday, March 22-23, 2017

Limited to just 50 participants, this workshop builds upon an ERM evaluation tool that outlines key aspects of an effective ERM process focused on the integration of risk oversight with strategic planning. Participants will complete the evaluation tool as topics are addressed so that by the end of the workshop each participant will have completed a self-assessment of their organization’s overall ERM maturity and identified next steps to advance their ERM processes. The course is taught by faculty who lead NC State’s ERM Initiative using an interactive classroom setting resembling an MBA-level course design.

 Download the flyer.

Reserve Your Seat

WHO SHOULD ATTEND?

Business executives who play a major role in leading ERM efforts within an enterprise, including those who serve on the board of directors or in senior executive roles, such as CEOs, chief risk officers, COOs, CFOs, controllers, chief audit executives, and others who lead the ERM process in the organization.  The course assumes that participants have a fundamental understanding of ERM and whose organizations have implemented some aspects of ERM.

You’ll have the opportunity to benchmark your organization’s current ERM approach and pinpoint successful strategies for enhancing the value of ERM within your organization.

The hands-on workshop will help you assess the following about your organization:

  • How does your ERM process compare to your peers?
  • What aspects of your ERM processes are mature and which have room for improvement?
  • How committed is your organization to examining its readiness to understand and manage its most strategic risks on a robust basis?
  • How integrated are your organization’s strategic planning and risk oversight processes?
  • What is the level of maturity in the organization’s monitoring of its most significant risk key risk indicators?

Intensive. Invaluable. Interactive.  This all-important ERM workshop offers hands-on training and practical examples of other organizations’ experiences to broaden your knowledge and competently address questions regarding effective enterprise-wide risk oversight. Interact with renowned experts on risk management, gain insights and ideas about real-world implementation tactics, and network with other individuals leading ERM in other organizations, in this comprehensive 1.5 day experience.

PROGRAM INFORMATION

WEDNESDAY, MARCH 22 | DAY ONE

7:30 AM - 8:30 AM Registration and Continental Breakfast

8:30 AM - 9:45 AM
Session 1: Ensuring Your Organization’s Risk Culture is Supportive of an Enterprise Risk Management Effort 
Mark Beasley, Deloitte Professor of Enterprise Risk Management
Director, ERM Initiative, Poole College of Management, North Carolina State University

For any ERM process to be value-adding, leadership and support from the board of directors and senior executive team is a necessary condition. A strong and supportive “risk culture” provides a vital foundation that ensures that the entity’s leaders view its ERM process as a critical element of that organization’s strategic success. Without a healthy risk culture, the entity’s ERM process is likely to be viewed as a bureaucratic, non-value adding initiative. This session will identify critical elements to establishing a supportive risk culture and pinpoint areas of focus that ERM leaders should consider when assessing the strength of their organization’s tone at the top and identifying areas for improvement.

The discussion will cover important aspects of: 

  • Board of director and CEO endorsement of ERM
  • Assignment of authority, responsibility, and lines of reporting for ERM leadership
  • Techniques to assess perceptions of risk oversight within the enterprise

9:45 AM - 10:00 AM   BREAK

10:00 AM - 11:15 AM
Session 2: Evaluating the Integration of ERM with Strategic Planning
Bonnie Hancock, Executive Director
ERM Initiative, Poole College of Management, North Carolina State University

Unfortunately, many organizations have launched their ERM processes by engaging in activities to identify potential risks along predefined risk categories, such as IT, legal, compliance, financial, regulatory, etc. Once they create a long list of potential risks, they are often left wondering how to use that inventory of risk information to manage the business. What is often missing is the connection of risks to the business strategy. Without an integration of ERM and strategy, boards and senior executives fail to see the strategic value of their ERM efforts. This session will focus on the importance of embedding ERM in the context of the strategy of the organization and will highlight best practices for strengthening the strategic benefit of your organization’s ERM efforts. It will also highlight challenges and practical suggestions for articulating the organization’s overall appetite for risk-taking, and how that should impact strategic planning.

The discussion will cover:

  • Driving the ERM process from a strategic perspective
  • Linking top risk exposures to strategic initiatives to pinpoint the strategies most vulnerable to risks
  • Seeking risks that can translate into strategic opportunities if the organization takes an informed view of the risks
  • Setting risk-adjusted return expectations
  • The board of directors and senior management roles in defining the organization’s appetite for risk taking
  • Practical approaches to describing risk appetites across multiple strategic objectives

11:15 AM - 12:05 PM
Session 3: Evaluating Risk Identification Processes
Bruce Branson, Associate Director
ERM Initiative, Poole College of Management, North Carolina State University

It goes without saying that a critical element of any ERM effort is that there has to be some kind of process to identify potential risk exposures. Unfortunately for many organizations, those processes are relatively informal and ad hoc, leading to incomplete identification of emerging risk exposures. Casual and unstructured risk identification tasks often lead to the identification of already known risks, with little encouragement for executives to push their thinking into the unknown, but knowable risks. In addition, management often struggles to describe the underlying risk concern – tending to focus on outcomes and not risk drivers. This session focuses on the benefit of using structured and repeatable risk identification techniques to strengthen the organization’s identification of potential risk exposures.

The discussion will cover: 

  • Identifiable and structured approaches to risk identification
  • Common pitfalls to avoid in risk identification, including describing risk events
  • Methods for rolling risk identification processes deeper into the management ranks beyond just the senior executive team

12:05 PM - 1:00 PM   Networking Lunch

1:00 PM - 2:15 PM
Session 4: Evaluating Processes to Assess and Prioritize Risks
Mark Beasley, Deloitte Professor of Enterprise Risk Management
Director, ERM Initiative, Poole College of Management, North Carolina State University

As organizations engage their management team in risk identification processes, they often find that they are overwhelmed by the number of potential risk exposures identified. To help prioritize those risks, they often ask executives to assess the overall likelihood and impact of those risk exposures. This session will highlight emerging best practices related to risk assessment that expands the consideration of risks to include considerations of other risk characteristics, such as the speed of onset and momentum of risks in addition to their likelihood and impact. It will also highlight techniques organizations use to score and aggregate their risk assessments to create an enterprise-wide view.

The discussion will highlight the importance of:

  • Considering inherent and residual risk dimensions
  • Developing guidelines for management to use in assessing risk impact and likelihood
  • Incorporating other risk dimensions, such as speed of onset and momentum of risks
  • Aggregating risk rankings to prioritize the most important risk exposures

2:15 PM - 2:30 PM   BREAK

2:30 PM - 4:00 PM
Session 5: ERM in Practice 
Jennifer MacKethan, Global Risk Manager, Integrated Risk Management
Cisco Capital

Effective implementation of an ERM process takes time and effort for it to reach a level of maturity and sophistication. This session will feature a real-world illustration presented by a senior executive who has been leading the ERM efforts within the organization for some period of time. It will focus on key elements of success and highlight learning along the way.

The discussion will cover:

  • Lessons learned from initial ERM implementation
  • Most significant improvements that have been made to bring an ERM process up the maturity curve
  • Methods or measures used to capture the value or results of their ERM efforts
  • Planned enhancements to the ERM process

4:00 PM - 4:15 PM   BREAK

4:15 PM - 5:15 PM
Session 6: Evaluating Whether Risk Responses Are Appropriate
Bruce Branson, Associate Director
ERM Initiative, Poole College of Management, North Carolina State University

The key to any successful ERM process is to ensure that an appropriate risk response is implemented and that the response is working as intended. Periodic evaluation of whether risk responses are being carried out effectively is important to the success of an ongoing ERM effort. This session will focus on processes organizations are using to document the linkage of risk responses to the risks, including the assignment of risk oversight accountabilities, and efforts organizations are taking to evaluate the adequacy of existing risk management responses. 

The discussion will cover:

  • Techniques that entities use to link risk exposures and risk responses
  • The importance of assigning risk owners and holding them accountable for risk responses
  • Designing processes to evaluate the effectiveness of risk responses

5:30 PM - 7:00 PM     NETWORKING COCKTAIL RECEPTION


THURSDAY, MARCH 23 | DAY TWO

7:30 AM - 8:30 AM   Continental Breakfast

8:30 AM - 9:20 AM
Session 7: Evaluating the Effectiveness of Your Risk Reporting
Bonnie Hancock, Executive Director
ERM Initiative, Poole College of Management, North Carolina State University

A critical element of any ERM process is reporting of critical risk information to the board and senior executives about major risk exposures. The challenge for many is determining the most effective way to summarize and report risk information in a manner that provides an aggregate view of the top risk exposures, and that provides key risk indicators for boards and senior executives to keep their eye on emerging risk exposures. This session will highlight best practices in developing key risk indicators and reporting risk information to boards and senior executives.

The discussion will cover:

  • Steps to developing leading key risk indicators
  • Board reporting of top risk exposures
  • Identifying risk limits and risk thresholds that trigger risk responses as risks emerge

9:20 AM - 9:30 AM   BREAK

9:30 AM - 10:45 AM
Session 8: Establishing Your Entity's Risk Appetite   
Colleen Larson, Senior Director of Risk Management
Emergent BioSolutions, Inc.

Organizations need to have some understanding about the nature and extent of risks they are willing to take in order for its leaders to know how risks should be managed. While most understand the concept of risk appetite, organizations often struggle to make this tactical for decision making. This session will focus on how the leadership team at Emergent BioSolutions worked to develop risk appetite and risk tolerance statements that could be understood and used by business leaders in making key decisions. This session will cover:

The discussion will cover:

  • Techniques used to help management understand gaps in their actual risk-taking relative to their desired/preferred appetite for taking risks
  • Approaches used by executive leadership teams to work together to develop risk appetite and risk tolerance statements
  • Methods used to disseminate risk appetite and risk tolerance statements to key business unit leaders
  • Ideas for holding leaders accountable for considering risk appetite and risk tolerances

10:45 AM - 11:00 AM   BREAK

11:00 AM - 12:30 PM
Session 9:  So, Where to Go from Here?
Mark Beasley, Deloitte Professor of Enterprise Risk Management
Director, ERM Initiative, Poole College of Management, North Carolina State University

This session serves as our capstone of the course by helping participants lay out those simple first steps to taking their business towards a more strategic ERM process. We’ll outline a suggested game plan to help participants keep their efforts focused on the most significant improvement opportunities.

The discussion will cover:

  • Managing expectations for the evolution of your ERM process
  • Identifying strengths and weaknesses in existing processes
  • Prioritizing actions to bring their organization’s ERM up the maturity curve
  • Simple next steps for implementing enhancing their organization’s strategic risk oversight

12:30 PM Workshop Adjourns

CONFERENCE FEE | $1395

Early Registration cost is $1295 by March 3, 2017. After March 3, 2017, cost is $1395. Registration is for both days only and includes all program materials, breakfast, lunch and cocktail reception on Wednesday and breakfast on Thursday.

Reserve Your Seat

Please note that vegetarian options will be provided for both breakfast and lunch but due to the number of participants attending, any dietary restrictions are the responsibility of the participant.

CONFERENCE LOCATION & ACCOMMODATIONS
$209 by February 28, 2017 

The workshop will be held at the  Raleigh Marriott City Center, Raleigh, NC.  The ERM Initiative has contracted with the hotel a limited number of rooms at the rate for $209 for our conference participants.   The cut-off rate for this rate is FEBRUARY 28, 2017.

Raleigh Marriott City Center
500 Fayetteville Street 
Raleigh, NC 27601    
919-833-1120


FORMAT

Level:    Basic
Prerequisites/Advanced Preparation:    None
Recommended Field of Study:    Specialized Knowledge
Format:     Group-Live
Learning Objective:    Understand emerging risk oversight trends
Recommended CPE:    12.5
Cost:    $1295 by March 3, 2017
$1395 after March 3, 2017

The ERM Initiative with the NC State University's Executive Education, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.learningmarket.org.

REFUND /CANCELLATION POLICY

Download the Cancellation Policy to read our policy on refunds and cancellations.

Important Cancellation Information:

  • If written cancellation requests are received by 5:00 PM Eastern time, twenty-one (21) days PRECEEDING the date of the event, the registration fee will be refunded less a $50 processing fee.

  • Due  to financial obligations incurred by the ERM Initiative, a credit voucher equal to 50% of the registration fee will be issued for written requests received by 5:00 PM Eastern Time, seven (7)  days PRECEEDING the date of the event.  Credit vouchers can be applied towards future ERM Initiative events within 12 months of the cancellation.

  • No refunds or credits will be issued for written cancellation requests received after 5:00 PM Eastern time seven (7) days PRECEEDING the date of the event.

QUESTIONS

Contact the ERM Initiative at erm_initiative@ncsu.edu or call 919-513-0901.