How to Design and Adopt and Effective Risk Management Program
Rod Toro, MBB, Deployment Leader, Edward Jones, Saint Peters, MO, USA
Keywords: Risk Maturity Model, Strategic Alignment, Attributes to Assess Risk
There are many types of risk management applications and specific areas to apply risk. If you are going to drive for an effective, long-term use of risk; it is best that you are able to design, deploy and drive ownership of an enterprise risk management system. This presentation will walk through "step by step" the process by which an enterprise wide risk system was developed and how it is used today.
First, one must have a clear understanding of key risk's terms( such as- Risk Acceptance, Risk Avoidance and Risk Mitigation). Secondly, you should develop Risk Maturity Model Framework. This session will walk through the actual process of accomplishing this critical task. It will also show the end result and how to implement this critical artifact. By understanding and the 7 attributes to assess ERM practices and determining an accurate description of each attribute for each risk maturity phase (from ad-hoc, to initial, to standardize (or developing) to maturing to optimized), the participant will walk through exactly what a risk maturity roadmap looks like and how to develop one.
Additionally there are nine original questions that need to be assessed of all key stakeholders to use as the foundation for establishing the structure of an ERM governance group. Each question will be discussed for how the participant can best used them.
Finally, we will review risk assessment methodology of combining the use of a risk impact assessment with an FMEA or EMEA and then use a bow-tie analysis to drive effective risk mitigation practices.
Conference Chair's Message
The 2019 ISO 9000 & AUDITS WORLD CONFERENCE is focused on providing you and your organization with the information and tools needed to continue this drive toward excellence. This year’s conference will not only continue to prove relevant topics with leading experts in their respective fields, but it is.....read more