Enterprise Risk Management Training Program

An Enterprise Risk Management training program educates the workforce with a universal, base-level understanding of ERM concepts and risk management strategies. This includes:

The language of ERM (e.g., ‘what’s the difference between risk appetite and risk tolerance?’),
Establishing common enterprise “risk factors” into the culture and thinking of the entire organization, and
Applying the theory of “risk factors” into real-life examples that appear in current day headlines from the Penn State Scandal, the Paradise Camp Fire, the Chevy Cobalt Ignition Switch, the Norfolk Southern train derailment, and Silicon Valley Bank collapse to the Temple University US News & World Report ranking scandal, and to a drowning at a local swim club.

Ultimately, the small investment in training management and staff regarding ERM will establish the foundation of risk management frameworks to properly launch a successful Enterprise Risk Management training program.

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What You Can Learn from Enterprise Risk Management Training Program?

Enterprise risk management: a theoretical and operational framework.
How to create and implement an Enterprise risk management training program.
How to set up your business to survive systemic disruptions and change with the times

How To Start ERM Training for Employees?

First, you must have the full support of the CEO. Without clear support from “the top,” your efforts may go nowhere.

Second, begin to describe your role as the Enterprise Risk Management program leader through less formal conversations with other officers and managers, and seek their initial input into the process of strategic planning to begin training senior leadership.

Third, seek out the assistance of an Enterprise Risk Management specialist to help develop a practical framework and assist in navigating politically sensitive risks..

An experienced ERM specialist from outside the organization has no preconceived notions, no political agendas, and no ax to grind. Utilizing a respected Enterprise Risk Management specialist clears the air and ensures the appearance of objectivity and anonymity (when needed), injects candor (when needed), and can address the elephant-in-the-room without the fear of reprisal.

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What Makes Our Enterprise Risk Management Training Better than Others?

Our ERM training for employees covers all aspects of ERM, including identifying and assessing risks, implementing risk management strategies for the identified risks, monitoring them, and reporting on risks.
The lecturers are able to present examples from reality and case studies based on their practical ERM experience.
Our corporate risk management training provides participants with ongoing support and resources to help them place what they have learned to use and further their ERM skills development.

Enterprise Risk Management Training Program FAQs

Why should my organization establish enterprise risk management?

As Peter Drucker said, “culture beats strategy” but perhaps what he could have said was “better culture improves strategic outcomes.” EVERY time ERM Exchange implements enterprise risk management into an organization, the culture, camaraderie and collaboration among team members improve – almost immediately. Organizations that continue to focus on enterprise risk management experience a sustained and rejuvenated culture of collaboration, a greater sensitivity to risk, and a higher enterprise VALUE.

Why should I hire ERM Exchange for my ERM initiative?

With wide and deep experience, ERM Exchange knows the complexities of an enterprise and can help control the risks of failure by applying the ERM framework. We apply our unique experience directly to clients – including their distinct circumstances – by helping to identify the most important risks and facilitating efforts to foster practical risk management strategies.

You were a partner with several large international firms. How involved are you on each client assignment?

I am intimately involved in each client engagement. ERM Exchange’s service approach is NOT built upon a leveraged staffing model (i.e., utilizing lesser experienced individuals) like most larger accounting and advisory firms. Rather, ERM Exchange provides each client with the high-caliber experience required to drive value and a high ROI. I directly apply my deep experience with each client team. My deep involvement allows me to connect the dots and share views with senior executives and the Board.

How ERM Training Program Enhances Senior Management’s Ability?

Strategic plans are designed by senior leadership to generate greater enterprise value. Enterprise Risk Management training programs are designed to link the most important risks and their underlying response strategies with the strategic plan of the organization. Instituting an ERM training program should endorse the risk response strategies established by management, and perhaps more importantly, identify risk response strategies that are insufficient. The cause of insufficient response strategies may be rooted in the inabilities of management and staff, but also may be rooted in an insufficient amount of capital or focus, as well as broken processes or inadequate technology. Ultimately, enterprise risk management enhances senior management’s ability to generate greater enterprise value.

Why is ERM Training Important?

If Employees have a better awareness of risk management principles and procedures then they are better prepared to handle risks in their everyday job and make decisions that minimize potential dangers. This can help to improve decision-making, reduce costs, and increase efficiency and effectiveness.

How Often Should ERM Training be Provided?

The specific demands and risk profile of the organization will determine how frequently ERM training is conducted. It is advised that ERM training for employees be given at least once a year to guarantee that staff members recognize its importance, continue to actively anticipate changes that could impact an enterprise, and refresh risk response strategies.

How Can I Evaluate the Effectiveness of the Enterprise Risk Management Training Program?

The effectiveness of ERM training can be evaluated through a variety of methods, including feedback from employees, assessments, and monitoring of risk management practices within the organization. Regular program evaluations can help to pinpoint areas that need development and make sure the training remains successful over time.

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