Strategic Board Leadership and Oversight of Technology Innovations & Risk Management

Background

As technology continues to reshape business landscapes, the imperative for strategic board leadership to adeptly manage innovation and risk has never been greater. The Strategic Board Leadership and Oversight of Technology Innovations and Risk Management programme is designed to enhance the technical acumen of board members, enabling them to navigate the intricate interplay between technological advancements and risk mitigation. It also provides a comprehensive framework for understanding the complexities of modern technologies and the strategic imperatives of their governance.

Central to this programme is the exploration of advanced technological ecosystems and their strategic implications. Board members and senior executives will be immersed in the experiential learning of complex technologies such as machine learning, cloud computing, and cybersecurity infrastructure. Through detailed technical sessions, they will learn to evaluate the strategic fit of these technologies within their organizational contexts, understand their operational mechanics, and assess their long-term impact on competitive positioning. The deep dive into technical specifics will equip board members with the insights necessary to drive informed decision-making and strategic alignment.

Therefore, the programme will rigorously address the multifaceted dimensions of technology-related risk management. It will cover sophisticated risk assessment tools and methodologies, including probabilistic risk assessment, scenario analysis, and cyber threat intelligence. Directors will gain expertise and tactical skills that will strengthen their oversight role in their organisations’ designing and implementation of comprehensive risk management frameworks that encompass not only technical safeguards but also policy development, compliance strategies, and incident response planning. This holistic approach ensures that board members can proactively oversee technology integration, balancing innovation with robust risk controls to protect organizational integrity and stakeholder value.

Target Participants:

• Board Chairs, CEOs, Non-Executive and Executive Directors, Chief Information Security Officer (CISO), Chief Information Officers (CIO), and Chief Risk Officers of Banks, Other Financial Institutions and Non-Financial Organisations, who play key roles in Nigeria and Sub-Saharan Africa.

Learning Outcomes:

• Gain more technical abilities to critically evaluate emerging technologies and how to integrate these technologies into their organizations to drive innovation, efficiency, and competitive advantage.
• Gain understanding and be quipped to oversee the establishment of proactive risk management practices, ensuring that technological innovations are adopted safely and securely.
• Develop expertise in cybersecurity and data privacy governance, which will enable them to implement best practices for protecting organizational data, ensuring compliance with relevant regulations, and mitigating the risk of cyber threats.
• Enhance Directors’ strategic decision-making which will foster a culture of innovation within their organizations, align technology initiatives with strategic goals, and measure the impact of technological investments on business performance.

Learning Objectives

• Discover more strategic options to systematically assess emerging technologies and align them with the organization’s tactical goals.
• Develop the skills to implement advanced risk management practices tailored to technology innovations.
• Learn to oversee the development and implementation of robust cybersecurity strategies, ensuring compliance with regulatory requirements, protecting organizational data, and maintaining stakeholder trust
• Understand the dynamics of innovation, promoting creative problem-solving, encouraging cross-functional collaboration, and implementing processes that support continuous improvement and technological advancement.
• Enhance the boards’ strategic decision-making capabilities by learning to use data-driven insights and performance measurement techniques.

Programme Focused Areas

1. Strategic Board Leadership in Technology Innovations for Impact

• Introduction to Strategic Board Leadership
  • Overview of the role of the board in technology governance.
  • Successful board-led technology initiatives for Business Impact
  • Class Discussion-Evolving Landscape of Technology in Global Businesses.
• Aligning Technology with Strategic Objectives
  • Techniques for integrating technology with business strategy.
  • Workshops on aligning R&D investments with strategic goals.
  • Strategic Alignment Discussions and Directors’ Viewpoints
• Fostering a Culture of Innovation
  • Methods to cultivate innovation within an organization.
  • Evaluations of organizational readiness for innovation.
  • Removing barriers to innovation and Building Lasting Culture for Innovative Initiatives

2. Effective Oversight of Technology Innovations

• Evaluating Technology Projects
  • Frameworks for assessing technology investments.
  • Tools for evaluating the potential impact of new technologies.
  • Practical exercises on feasibility studies and cost-benefit analyses.
• Monitoring and Reporting
  • Establishing and tracking key performance indicators.
  • Developing effective reporting structures for technology projects.
  • Successful monitoring and reporting practices- Case study session
• Ensuring Accountability and Transparency
  • Techniques for maintaining transparency in project management.
  • Strategies for holding teams accountable for technology initiatives.
  • Detailed Interactive Discussions on overcoming common challenges in Oversight Activities

3. Risk Management in Technology Innovations for Business Growth

• Identifying and Assessing Risks
  • Overview of risk types associated with technology innovations.
  • Risk identification and assessment techniques
  • Class exercises & Case study on major technology failures and their root causes.
• Developing Risk Management Frameworks
  • Building comprehensive risk management plans.
  • Interactive session on risk mitigation strategies.
  • Class Exercises on best practices in risk management.
• Continuous Risk Monitoring Strategy
  • Tools for ongoing risk assessment and monitoring.
  • Methods for adapting risk management plans to new developments.
  • Simulations to practice risk response strategies.

3. Integrating Technology Innovations into Strategic Planning

• Understanding Emerging Technologies
  • Overview of key emerging technologies (AI, IoT, blockchain, etc.).
  • Analysis of how these technologies are transforming FSS.
  • Identifying emerging technologies revolutionising FSS industry.
• Strategic Planning Processes for Value Creation
  • Techniques for embedding technology into strategic plans.
  • Interactive session on strategic foresight and planning.
  • Global and Local Cases on successful technology integration.
• Execution and Implementation
  • Developing actionable plans for technology integration.
  • Monitoring and adjusting strategic technology plans.
  • Discussions on overcoming implementation challenges.

5. Enhancing Board Competencies in Technology

• Importance of Technological Literacy
  • The role of continuous education in board effectiveness.
  • Identifying knowledge gaps and learning opportunities.
  • Analysis of some technological concepts and trends.
• Educational Initiatives for Board Members
  • Designing effective educational programs for board members.
  • Leveraging industry experts and external advisors.
  • Evaluating the impact of educational initiatives on board performance.
• Recruiting Technology Experts
  • Strategies for identifying and recruiting board members with technology expertise.
  • Best practices for integrating new members into the board.
  • Discussions on balancing technological and business expertise.

6. Collaboration Between Boards and Technology Leaders for Business Growth

• Establishing Communication Channels
  • Importance of effective communication between boards and technology leaders.
  • Techniques for fostering open and regular communication.
  • Simulation exercise on board-technology leader interactions.
• Joint Strategy Sessions
  • Organizing and conducting productive joint strategy sessions.
  • Interactive discussions on aligning technology and business strategies.
  • Insightful Cases of Successful Collaborations for Business Growth
• Continuous Collaboration
  • Building a culture of continuous collaboration and feedback.
  • Techniques for resolving conflicts and ensuring alignment.
  • Discussions on maintaining long-term strategic partnerships.

7. Cybersecurity and Technology Risk Governance

• Fundamentals of Cybersecurity
  • Overview of cybersecurity threats and vulnerabilities.
  • Deep-dive on Technology Risk Governance, cybersecurity measures and Best Practices.
  • Case studies on current cybersecurity trends.
• Developing Cybersecurity Strategies
  • Building comprehensive cybersecurity frameworks.
  • Interactive sessions on incident response planning.
  • Case studies on effective cybersecurity governance.
• Continuous Security Monitoring
  • Tools and techniques for ongoing cybersecurity monitoring.
  • Developing protocols for regular security assessments.
  • Simulation exercise on responding to security incidents.

8. Ethical Considerations in Technology Innovations

• Introduction to Technology Ethics
  • Overview of ethical issues in technology adoption and implementation.
  • Impact of ethics on technology strategy for Growth- Class Discussion
  • Case studies on ethical dilemmas and their resolutions.
• Establishing Ethical Guidelines
  • Developing frameworks for ethical decision-making in technology.
  • Workshops on creating organizational ethical guidelines.
  • Ethical leadership in technology-Class Exercise & Case study
• Ensuring Compliance and Accountability
  • Techniques for monitoring ethical compliance in technology projects.
  • Developing accountability structures for ethical governance.
  • Interactive session on addressing ethical breaches.

9. Measuring the Impact of Technology Innovations

• • Setting Objectives and KPIs
    • Techniques for defining clear objectives for technology projects.
    • Developing relevant and measurable KPIs.
    • Case studies on successful objective setting.
  • Tracking and Evaluating Performance
    • Tools for monitoring the progress of technology initiatives.
    • Methods for evaluating the financial and operational impacts.
    • Case studies on performance evaluation techniques.
  • Continuous Improvement and Feedback
    • Developing systems for continuous feedback and improvement.
    • Techniques for adjusting strategies based on performance data.
    • Discussions on sustaining long-term benefits from technology investments