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Reliability
Engineering

Risk Specialist Masterclass

Session Details

Khobar

USD 5,040

excl. VAT
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Overview

The Risk Specialist Masterclass is an intensive program designed to elevate your expertise in risk management. This comprehensive journey equips you with the knowledge and skills required to excel in risk assessment, mitigation, and strategic management. Throughout the course, you will explore fundamental risk concepts and definitions, gain insights into various forms of risk, including financial, operational, strategic, and compliance risks, and learn techniques for identifying, evaluating, and prioritizing these risks. The program focuses on risk mitigation strategies, covering avoidance, reduction, and risk transfer, alongside financial risk, operational risk assessment, and compliance considerations. It also emphasizes the principles and frameworks of enterprise risk management (ERM), highlighting its integration with organizational strategy and the role of Chief Risk Officers (CROs). Practical application is integral, with real-world case studies and a risk management simulation. An optional certification examination is available to earn the "Certified Risk Specialist" designation. The Risk Specialist Masterclass combines theoretical insights with practical experience, preparing you to navigate complex risk landscapes with confidence and professionalism. Join us to advance your career in risk management

Learning Objectives

Recall key risk management concepts and types of risks. Explain why risk management is vital across industries and its impact on organizations. Apply risk identification techniques and prioritize risks in practical situations. Analyze risk mitigation strategies, including avoidance, reduction, and transfer, for specific scenarios and evaluate financial risk factors and propose effective mitigation strategies. Construct an enterprise risk management framework aligned with organizational strategy and CRO roles

WHO SHOULD ATTEND?

Senior Risk Officers, Risk Managers, CROs
Internal Auditors, Compliance Leaders
Strategy, Operations, and Finance Executives
Project Risk Managers, Consultants
Individuals preparing for roles in ERM, GRC, or ISO 31000 leadership

COURSE METHADOLOGY

BK Management Team believe that learning is not only about acquiring technical skills, it is also about learning behaviors & Competencies that are desirable for work in plant operation & maintenance critical dimensions. Our holistic teaching develops our delegates' personal effectiveness to function both as an individual and as a team player. The course delivery & modes of instruction will incorporate theory , practical skills and Q&A sessions. To enhance learning outcomes, theory sessions will comprise classroom based lecture that will intersperse with interactive discussions, scenario-based, case-study, group exercises, video clips, power point slides, learners' Guide and the application of various tools which will be provided to help in the delegates and participants of the learning’s objectives. With successful implementation of the learnt skills they are bound to enhance Individual & Organizational growth. For online / Interactive Virtual sessions, Delegate should have a stable & good Internet connection on his Laptop

Course Outline

Module 1:

Advanced Risk Management Foundations

  • Evolution of Risk Management: From Compliance to Strategic Value

  • Overview of Enterprise Risk Management (ERM)

  • Key Frameworks and Standards:

    • ISO 31000:2018

    • COSO ERM 2017

    • Basel III / Solvency II (for financial institutions)

  • Risk Culture and Governance

  • Three Lines Model (formerly Three Lines of Defense)

Module 2:

Strategic Risk Thinking

  • Linking Risk to Strategy and Business Objectives

  • Scenario Planning and Black Swan Events

  • Strategic Risk Identification and Anticipation

  • Board Expectations and Risk Appetite Statements

  • Case Studies: Strategic Risk Failures and Lessons

Module 3:

Enterprise Risk Assessment & Analysis

  • Quantitative and Qualitative Risk Assessment Tools

  • Heat Maps, Risk Ratings, and Bow-Tie Analysis

  • Monte Carlo Simulation and Sensitivity Analysis

  • KRIs (Key Risk Indicators) and Emerging Risk Scanning

Conducting Risk Workshops and Facilitating RCSA (Risk and Control Self Assessment)

Module 4:

Risk Response & Treatment Strategies

  • Risk Avoidance, Mitigation, Sharing, and Acceptance

  • Control Framework Design and Testing

  • Integrating Risk Mitigation into Business Planning

  • Contingency Planning and Business Continuity

  • Using Insurance, Hedging, and Outsourcing

Module 5:

Operational and Emerging Risks

  • Operational Risk in a Digital World

  • Third-Party and Vendor Risk Management

  • Cybersecurity, Data Privacy, and AI Risks

  • Environmental, Social, and Governance (ESG) Risks

Reputational and Conduct Risk

Module 6:

Governance, Risk & Compliance (GRC) Integration

  • Unifying Governance, Risk, Compliance, and Audit

  • Risk Reporting Structures

  • Regulatory Risk and Compliance Mapping

  • GRC Software and Automation Tools

  • Aligning Risk & Compliance with Internal Audit

Module 7:

Risk Leadership & Culture

  • Building a Risk-Aware Culture

  • Change Management and Organizational Resilience

  • Ethical Risk Leadership

  • Communication Strategies with Stakeholders, Executives, and Boards

Behavioral Science of Risk Perception

Module 8:

Enterprise Risk Reporting & Visualization

  • Designing Effective Risk Dashboards and Reports

  • Data-Driven Risk Decision-Making

  • Aggregating Risk at the Enterprise Level

  • Reporting to Board, Regulators, and Stakeholders

  • Use of Business Intelligence Tools (e.g., Power BI, Tableau)

Module 9:

Risk Simulation, Workshops, and Case Studies

  • Real-World Risk Failures: What Went Wrong?

  • Hands-on Simulations:

    • Risk Scenario Building

    • Crisis Response Drill

    • Risk Appetite Exercise

  • Risk Committee Mock Session

Module 10:

Masterclass Capstone

  • Final Risk Strategy Presentation

  • Peer Review and Expert Feedback

  • Masterclass Certification Exam (Optional)

Individual Risk Maturity Assessment

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