IRM Accredited: Management of Risk and Uncertainty

The MoRU Training Programme
Without question, the effective management of risk is an increasingly vital leadership skill in all sections of the economy.

For managers responsible for enhancing performance and implementing effective corporate governance within your organisation, an under-standing of risk management concepts and termi-nology is essential.

Management of Risk and Uncertainty (MoRU) has been designed by the Institute of Risk Management (IRM) to address this need and is delivered by a limited number of approved and licensed, specialist providers. The course provides a raised awareness of risk management and corporate governance. It explores the processes and techniques available to identify and successfully assess, treat and control the risks within an organisation.

Delegates are introduced to the Risk Management Standard, developed through collaboration between the UK’s major risk organisations including the Institute of Risk Management, The Association of Insurance and Risk Managers and The National Forum for Risk Management in the Public Sector.

The standard is used to structure our approach and the course underpins the theory with a wide range of examples and case studies to explain the practical knowledge and skills required to make a successful Risk Manager. Reference is also made to the new BS31100 Risk Management Standard.

The course will be presented by Graham Offord and Laura Anne McMahon who have over 20 years’ experience in managing risk, in banking and insurance and as consultants working within all sectors of private industry, commerce, not for profit and public sector organisations including the NHS, local authorities, police and fire and rescue services.

Offrisk Consulting believes in a practical approach to risk, combining its experience with theory and case studies to establish effective management solutions.

At the end of each course, a short assessment is set and delegates receive a Certificate of Achievement signed jointly by the training provider and the IRM.

Who should attend?

The MoRU programme will particularly benefit:

• Directors and senior managers with responsibility for implementing corporate governance and internal control systems
• Professionals responsible for managing risk in their operational roles:

• Business managers seeking greater awareness and to develop their risk man-agement knowledge and skills
• Managers in the public sector: including local authorities, housing associations, the NHS, MoD, police and fire and rescue
• Project, programme and change managers and business continuity, environmental and health and safety specialists
• Insurance managers, brokers and underwriters, solicitors, accountants and internal auditors
• Individuals new to risk management or considering entering the profession.

Course overview

The course is delivered through six sessions over two days. Each session is designed to provide background knowledge and understanding and develops student skills with practical case studies and group exercises. Delegates can expect to develop their appreciation and confidence in applying the skills learnt and will be encouraged to discuss their own experiences, considering how risk management and corporate governance can be embedded in their own organisations.

Day One

Session One
Risk Management Emergence, Scope & Purpose

• Emergence of risk management in the UK
• Definition of Risk
• Sources of risk / scope of risk management
• The role of the risk management function
• Purpose and benefits of risk management
• Introduction to the Risk Management Standard

Session Two
Risk Assessment, Analysis and Evaluation

• Definition of risk assessment
• Risk identification and assessment methods and techniques
• Practical application of flowcharts, brainstorming and risk profiling
• Integration into the Business Process

Session Two a

Risk Perception & Communication

• Nature of the risk
• Consequences of the risk
• Management of the risk

Day Two

Session Three
Risk Treatment: Risk Control

• Definition of risk treatment
• Application of risk control measures (before, during & after)
• Controls that influence probability
• Controls that influence consequences
• Development of effective risk controls

Session Three a

Business Continuity Management

• Business continuity planning
• Reducing the impact
• Civil Contingencies Act 2004

Session Four
Risk Treatment and Risk Financing

• Concept of risk financing and total cost of risk
• Risk financing techniques: transfer, retention and insurance

Session Five
Corporate Governance, Reporting, Monitoring and Embedding

• Development of UK corporate governance codes and requirements for the private and public sectors
• The Combined Code and reporting requirements
• Why communication, monitoring and review are critical
• Embedding risk management culture in the organisation

Session Six
Assessment