Background

The global business landscape is increasingly characterized by volatility, uncertainty, complexity, and ambiguity (VUCA). From geopolitical tensions to technological breakthroughs and shifting regulatory frameworks, organizations are navigating a rapidly evolving environment where traditional risk management frameworks are becoming inadequate. Disruptions once considered anomalies are now the norm, challenging enterprises to rethink how they identify, assess, and mitigate risks. In this dynamic context, the capacity to anticipate and adapt to unforeseen challenges is paramount, demanding a more proactive and integrated approach to risk management.

The importance of advancing enterprise risk management (ERM) frameworks cannot be overstated, particularly for C-suite executives and senior leaders tasked with steering their organizations through turbulent waters. As globalization deepens interdependencies, risks in one part of the world can have cascading effects, impacting businesses on a global scale. For instance, the increasing reliance on digital infrastructures has not only exposed organizations to cybersecurity threats but has also raised concerns about data privacy, regulatory compliance, and ethical governance. As a result, there is a growing recognition among leaders that a siloed approach to risk management is no longer sufficient. Instead, an integrated, enterprise-wide perspective is crucial for identifying and mitigating risks comprehensively and cohesively.

It is against this background that FITC is organizing a 2-day Programme titled “The Future of Enterprise Risk Management in a Disruptive Era”. The Programme is designed to provide leaders with the insights necessary to transform risks into opportunities, ensuring their organizations not only survive but thrive in disruptive times.

Target Audience

• The programme is specially curated for C-suite Executives, Chief Risk Officers, and all Senior Management Leaders responsible for strategic decision-making and enterprise risk management. It is also highly relevant for Risk Managers, Compliance Officers, and professionals involved in Governance, Risk, and Compliance (GRC) functions, who need to stay ahead of emerging risks and challenges in a disruptive business environment.

Learning Outcomes

1. Equip leaders with advanced strategies for integrating risk management into strategic planning and decision-making processes.
2. Empower leaders to foster a culture of risk awareness and resilience within their organizations.
3. Enable participants to identify and leverage opportunities arising from disruptive changes.
4. Provide actionable insights on emerging risks and how to proactively address them.

Learning Objectives

1. Analyze and apply the latest ERM frameworks and methodologies to real-world scenarios.
2. Develop comprehensive risk management plans that align with organizational goals.
3. Critically assess the impact of global disruptions on enterprise risk management strategies.
4. Design and implement risk-aware cultures that enhance organizational resilience.

Focus Area

Global Disruptions and Their Impact on Enterprise Risk Management

• Understanding the VUCA world and its implications for risk management.
• The role of globalization in amplifying risk exposure.
• Strategies for managing risks in a hyperconnected world.
• Anticipating future disruptions and their potential impact on risk landscapes.
• Case study / Group Discussion/ Class Exercise

Redefining Risk Management Frameworks for the Future

Building Organizational Resilience in Disruptive Times

• The importance of resilience in a rapidly changing environment.
• Key components of organizational resilience: people, processes, and technology.
• Strategies for enhancing resilience through scenario planning and stress testing.
• The role of leadership in fostering a resilient organization.
• Measuring and monitoring resilience over time.

Strategically Harnessing Technology and Data Analytics for Enhanced Risk Management

• The role of big data and analytics in identifying and managing risks.
• Understanding the potential of AI and machine learning in risk assessment.
• Cybersecurity as a critical component of enterprise risk management.
• Ethical considerations in the use of technology for risk management.
• Case study / Group Discussion/Class Exercise.

Critical Role of Human Dynamics in Enterprise Risk Management

• Understanding the psychological aspects of risk perception and decision-making.
• Building a risk-aware culture through effective communication and training.
• The role of diversity and inclusion in enhancing risk management.
• Strategies for managing human factors in risk management.
• Leadership’s role in guiding the organization through crisis and uncertainty.

Transforming Risks into Strategic Opportunities

• Identifying opportunities in times of disruption and uncertainty.
• Aligning risk management with innovation and growth strategies.
• Frameworks for integrating opportunity management into ERM.
• Developing an action plan for capitalizing on emerging opportunities.
• Case study / Group Discussion/Class Exercise