Offered Semester 1 only
The aim of this Course is to develop an enhanced knowledge of Enterprise Risk Management (ERM) practices to assist the board, or other governing body, to determine its strategic responsibility for risk-taking; demonstrate an understanding of how different risks operate within the context of existing enterprise management frameworks; formulate the organisation’s attitude and policy to risk appetite; tolerance for key individual risks and ensure clear lines of accountability.
On successful completion of the course, you should be able to:
- Conceptualise the foundations, concepts, frameworks, and principles of ERM.
- Justify and critically apply the practical aspects of ERM, including all elements of a robust risk management framework (people, systems, and processes) and its operation, and critical success factors.
- Justify how ERM can benefit organisations and its impact on cost, corporate governance, sustainability, and wider social responsibility.
- Justify and critically apply methods for the management of the key organisational risk, such as, but not limited to, risk optimisation, management of market risk, credit risk and operational risks.
- Manage, critically appraise and report to relevant stakeholders, the organisation’s exposure to risk and the key risks that could undermine its strategy, reputation or long-term viability.
- Synthesise an organisation’s approach to risk and develop a risk management strategy, policies and procedures which will include identifying, analysing, assessing and instilling the right culture.
Topics covered
- Risk management fundamentals and context
- Risk types and categories
- Implementing ERM - Policy and leadership
- Risk disciplines and perspectives
- ERM in practice
- Governance and culture
- Social and organisational context
- The benefits of ERM
- Emergent risks
- Linking risk management to strategy formulation and execution
- Documentation and reporting
This course is delivered fully online over 15 weeks. There are 14 weeks of mostly self-directed learning time and includes a mid-semester teaching break (2 weeks). The course concludes with a study week before the final examination.
Assessment
Course assessment will require analysis and synthesis, and the application of theory into governance practice using case studies.
Students must attempt all assessments and achieve an overall final grade of at least 50% to pass the course.
Assignment 1 30%
Assignment 2 40%
Examination 30%