Introduction

Traditionally, ERM has been used by company to safeguard assets, reduce losses. The trend now is to integrate strategic risk management into company’s strategy development & execution process, such integration will elevate value of ERM, as it allows company to take bigger calculated risks & make bigger investments than they otherwise would have been.

Risk has always been associated with Governance, Compliance (in short, GRC), setting aside regulatory requirements for all public listed companies to practice and enforce ERM in their organization, it has been shown that companies that understand and manage ERM survive better and longer than those who do not.

Moving from managing Enterprise risks, the frameworks, principles, techniques & tools learnt in ERM can be easily applied in our personal life, except for differences in emphasis.

At the end of the course, participants will learn how to put ERM principles into practice. From enterprise perspective, it is not just focusing on the downside of the risk, but weighing the probable rewards vs cost or penalties as business is to create and keep customers. From personal perspective, by understanding an implementing strategy to address them, one can expect to live a better and more successful life.

Course Details:

 

Objectives

• Understand different types of enterprise risks.

• Learn the principles, frameworks of ERM.

• Learn the tools & technique of assessing, managing and monitoring risks.

• Understand how strategic risk management adds value to business

• Learn who are the owners of ERM.

• Learn Scenario Planning, and how to use it  as an additional tool to manage risk

• Understand clearer & better between risk and other related important subjects such as

• Risk and Uncertainty, Risk and Decision making, Risk and Opportunity, Risk and Rewards

• Understand types of personal risks to be faced in todays’ VUCA’ world (volatility, uncertainty, complexity, ambiguity) and how to manage them.

Outline

I. What are the concepts, principles & framework of ERM.  From ad hoc risk to targeted risk to integrated risk framework.

 

II. Members of ERM, their respective roles and accountability

  • Board members
  • Chief Executive
  • Functional Department Head
  • CRO (Chief Risk Officer, if applicable, else CFO, Chief Financial Officer)

 

III. What is strategic risk management & how to incorporate ERM into strategic planning process.

 

IV. Case study of how to build ERM from scratch.

 

Outline

 

V. How to manage your risk management effectiveness-Key Risk Indicators, just like using Key Performance Indicators to monitor progress in meeting company objectives.

 

VI. What is scenario planning, How to use scenario planning as an effective tool to manage risk

 

VII. Group exercise/discussion to identify, address major risks faced by manufacturing firms, particularly the SMEs

 

VIII. What are the types of risks to be faced by individuals in today’s VUCA  world ( Volatile, uncertain, Complex, Ambiguous), and how to address.

Trainer

Seow Sin Leng has 40 years of working experience in small & medium size manufacturing firms locally & regionally. Sin Leng’s roles involve mainly in finance, human resources, due diligence for M&A , management. The industries cover shipbuilding & repairing, paper products, printed circuits boards assembly (PCBA), equipment build,  monitor, liquid crystal displays (LCD) and printed circuit board (PCB)

Included in the 40 years was a 5-year overseas experience in China (Shenzhen, Suzhou, Changshu), HK, Taiwan, and Thailand as regional finance manager.

Sin Leng is currently working as a management consultant to a 3-party joint venture manufacturing company in Shanghai. His role involves reviewing monthly financials to highlight & suggest areas for improvement; working with local management team to improve performance through enhancing existing capabilities and building new capabilities.

As head of human resource department in a company he worked before, Sin Leng conducted in-house training  for employees, these cover topics such as performance management, finance for non-financial personnel, enterprise risk management.

Sin Leng holds a Bachelor of Accountancy degree from then the University of Singapore, pursued and completed Executive MBA program from NUS, and attended ‘Future China Advanced Leadership Programme’ jointly organized by NTU business school and Business China. In addition, Sin Leng also holds a Professional diploma in Training & Development.

Administrative Details:

Scheduled Dates

• 18 April 2018 - 1st Run

Cost

• S$ 450 per participant

• S$ 400 per participant for 2 participants from the same organisation

• S$ 350 per participant for 3 or more participants from the same organisation

Duration

• 9 am - 5 pm

Certification

A Certificate of Attendance will be awarded at the end of the workshop.

Refreshments

• Coffee & tea with snacks during the morning and afternoon breaks

• Buffet lunch with vegetarian & halal options

 

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