Read the headlines and the “scroll” running across the bottom of your TV screen: “Risk” shows up frequently, as do the problems resulting from poor risk management decisions. These are hot topics!
But “risk” is not all bad. Growth, financial stability, and successful innovation also require risk taking and risk management.
Executives, leaders, and managers in every organization need to know which risks they want to take. They also need to manage, mitigate, or avoid the risks that they do not want to take.
For a venture capital firm, the risks of new investments drive growth; for a technology firm, risks enable new products; for a nonprofit, taking risks might broaden services to better achieve a mission. Unconsidered risks, however, can cripple an enterprise. Examples are numerous: Dramatic storms; attacks on your firm’s website; hacked credit card files; a major supplier unexpectedly closing shop. Some risks are large but rare—e.g., a plague-carrying hospital patient—while others are small but potentially frequent—such as an employee slipping on wet floors. No firm is immune: Taking, managing, eliminating risks is critical for every for-profit or not-for-profit enterprise.
The discipline of enterprise risk management (ERM) helps firms identify, manage, and mitigate their risks to stay on-focus with their core missions and to be successful over the short and long terms.
Successful Leaders Think About Managing Risks
The discipline of enterprise risk management (ERM) can help executives, managers, and staffers at any enterprise, in any department, become risk aware and risk savvy. Our skills-focused curriculum makes the most of industry standards and best practices to provide tools you can use.
Director: Michele Braun
In addition to creating risk education programs for Manhattanville School of Business, Ms. Braun trains and advises businesses on risk management and payments topics for The Crossway Group, LLC. During her career in government and private industry, Ms. Braun served as secretary to the Fed-sponsored, industry-led Payments Risk Committee and the Tri-party Repo Infrastructure Reform Task Force and as Human Resources Officer for the Federal Reserve Bank of New York. She was a “hands on” manager for the Federal Reserve during 9/11 and the 2008 financial crisis. Ms. Braun is a frequent contributor to practical business publications on risk management and innovation.
Denis Sullivan President & Principal Advisor IdeaStudio
Take each seminar separately or complete all four modules to earn the Professional Certificate in Managing Enterprise Risk.
Blend Risk-based Thinking Into Strategic Management September 27-28, 2018 Learn to take an enterprise-wide view of significant risks, including those directly tied to your primary business line or mission and those flowing from essential support functions. This seminar introduces steps to engage your organization and senior management in assessing when to embrace, avoid, mitigate, or insure against risks, as well as tools and international standards for developing and running an ERM program.
Create a Risk-Savvy Organizational Culture October 18-19, 2018 Effective programs in enterprise risk management frequently start with questions from the board of directors and executive leadership. A culture of risk management set from the top supports decisions at all levels that reduce risk, preserve the integrity of the organization, and identify which “upside” opportunities to pursue. This module focuses on creating a common understanding of risks to be taken vs. risks to be avoided, building risk awareness into corporate culture, and the special roles for auditors and attorneys, HR professionals and leaders, enterprise-wide, in shaping that culture.
Effectively Measure, Compare, and Assess Risks November 8-9, 2018 Managing risk requires measuring risk. This module provides tools for assessing and comparing risks — and risk avoidance options — across dissimilar functions. Participants will develop a model risk assessment and discuss metrics (key risk indicators) that can serve as the basis for an organization’s first assessment or as a self-audit comparison for improving existing ERM processes. Here, you will develop plans to protect people, reputation, information, and financial and physical assets.
Specialized Topics in Managing Risk: a Deeper Dive December 6-7, 2018 Boards and executives rely on enterprise risk managers to bring together a consistent cross-functional view of the challenges facing their enterprises. In addition, ERM professionals are expected to be familiar with key components of the many types of risks that their organizations encounter and be able to work closely with technical experts. This seminar introduces non- specialists to core features of commonly found risks.