Enterprise Risk Management & Corporate Governance

“The long-term success of a company is dependent on the sustainability of its business model and its management of risk.” 

 FRC Guidance on Board Effectiveness 2018  

 Risk management is not a veneer on corporate governance. Neither is it just risk avoidance nor risk removal. Business strategy and risk management go hand in hand and inform each other to produce intelligent understanding of the types and level of risk that an organisation will face or chooses to accept. Done well, it generates firm-wide acceptance to reduce the probability of both predictable and unforeseen events that could cause damage and minimise that damage if events do occur.   

Regulators will codify much of what constitutes good risk management, as the EU Solvency II regime does. Equally, regulatory regimes often evolve from corporate governance. An Executive Director has a dual role: accountability for your part of the business, and leadership and direction of the company. As a Director, your obligations and liabilities will be defined under law, but the board’s collective duties and responsibilities are set out by corporate governance codes with guidance that explains the collective board expectations. 

There is also a growing body of research and evidence that indicates where board failure has been at the heart of company failures.  More importantly it shows us what an effective board looks like, and how it relies on the effective contribution of each and every Director: Executive or Non-Executive. 

At the end of the course, you will receive a certificate of attendance from the Chartered Insurance Institute.