COURSE TITLE: ENTERPRISE RISK MANAGEMENT GOVERNANCE
COURSE CODE: SBRM6050
The topical focus of this course is corporate governance and prioritization of Enterprise Risk Management as a critical element of the responsibility of the Board and senior executives. The recent financial crisis created major disruptions in the financial services and other industries globally and has called into question the effectiveness of governance structures in enterprises. It has revealed significant weaknesses in the risk management systems, silo management infrastructures, disparate systems and processes, fragmented decision-making, inadequate forecasting and a lack of cohesive and timely reporting to and action by senior management.
This recognition has forced Boards of Directors to rethink risk strategies and change from a purely oversight role to active participation in defining the enterprise’s risk appetite and approving broad risk parameters. Chief Financial officers are also redefining their role to better align financial functions with risk management teams, so that risk governance, finance and capital allocation decisions reinforce each other rather than work at cross purposes.