COSO Enterprise Risk Management (ERM) Framework Training
Mastering COSO’s ERM Framework for Strategic Risk Oversight and Value Creation
Course Schedule
| Venue (InHouse) | Fees |
|---|---|
| At Your Organization Premises | Ask For The Quotation |
Course Introduction
In today’s complex and volatile business environment, organizations need a structured and strategic approach to identifying, assessing, and responding to risk. The COSO Enterprise Risk Management (ERM) Framework provides a comprehensive and integrated model to enhance risk governance, align risk appetite with strategy, and support informed decision-making.
This 5-day intensive training will guide participants through the key components and principles of the updated COSO ERM Framework. Through practical exercises, case studies, and workshops, attendees will gain the skills necessary to design and implement an effective ERM system tailored to their organization’s objectives and risk profile.
Course Objectives
By the end of this course, participants will be able to:
- Understand the core principles of the COSO ERM 2017 Framework
- Align enterprise risk management with organizational strategy
- Develop risk appetite statements and risk profiles
- Implement and monitor ERM processes for improved governance
- Strengthen risk-based decision-making and resilience
Key Benefits of Attending
- Acquire globally recognized ERM knowledge and skills
- Learn to connect strategy, performance, and risk through COSO ERM
- Improve your organization’s risk oversight and stakeholder confidence
- Gain hands-on experience using COSO ERM tools and techniques
- Elevate your role in governance, risk, and compliance
Intended Audience
This program is designed for:
- Risk managers and officers
- Governance and compliance professionals
- Internal and external auditors
- Strategy and planning managers
- Senior executives and board members involved in oversight
Individual Benefits
Key competencies that will be developed include:
- Proficiency in the COSO ERM framework and its strategic application
- Ability to design and evaluate ERM systems
- Stronger decision-making and risk communication skills
- Capacity to integrate ERM into planning, operations, and reporting
- Recognition as a COSO ERM-informed professional
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Improved enterprise-wide risk identification and response
- Alignment of risk appetite with strategic objectives
- Strengthened governance and stakeholder trust
- Enhanced compliance, resilience, and long-term value creation
- Reduced operational surprises and losses
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Strategy Briefings – Deep dive into COSO ERM principles and components
- Case Studies – Practical examples of ERM implementations in various industries
- Workshops – Hands-on sessions to develop ERM frameworks, risk profiles, and response strategies
- Peer Exchange – Discussions on ERM challenges, lessons learned, and best practices
- Tools – Templates for risk appetite statements, risk registers, and risk dashboards
Course Outline
DETAILED 5-DAY COURSE OUTLINE (CUSTOMIZABLE)
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee Breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Introduction to Enterprise Risk Management and COSO Framework
- Module 1: ERM Fundamentals and Definitions (07:30 – 09:30)
- The need for structured risk management
- The evolution of ERM and COSO’s role
- Module 2: Overview of COSO ERM 2017 (09:45 – 11:15)
- Framework structure: 5 components and 20 principles
- Module 3: Risk, Strategy, and Objective Setting (11:30 – 01:00)
- Linking strategy and ERM
- Module 4: Workshop – Developing Risk-Aware Objectives (02:00 – 03:30)
Day 2: Governance, Culture, and Risk Appetite
- Module 1: Governance and Organizational Culture (07:30 – 09:30)
- Roles of board, management, and ethics
- Module 2: Defining and Communicating Risk Appetite (09:45 – 11:15)
- Practical approaches and challenges
- Module 3: Case Study – Governance Failures and Lessons (11:30 – 01:00)
- Module 4: Workshop – Drafting a Risk Appetite Statement (02:00 – 03:30)
Day 3: Risk Identification, Assessment, and Prioritization
- Module 1: Risk Identification Techniques (07:30 – 09:30)
- Internal and external risk identification
- Module 2: Risk Assessment and Heat Maps (09:45 – 11:15)
- Likelihood, impact, velocity, and interdependencies
- Module 3: Workshop – Creating a Risk Register (11:30 – 01:00)
- Module 4: Peer Exchange – Industry-Specific Risks (02:00 – 03:30)
Day 4: Risk Response and Performance Management
- Module 1: Selecting and Implementing Risk Responses (07:30 – 09:30)
- Avoid, accept, reduce, share
- Module 2: Performance and Risk Monitoring (09:45 – 11:15)
- Key Risk Indicators (KRIs) and dashboards
- Module 3: Case Study – Risk Response Failure and Improvement (11:30 – 01:00)
- Module 4: Workshop – Integrating ERM into Business Processes (02:00 – 03:30)
Day 5: Reporting, Continuous Improvement, and Integration
- Module 1: Risk Reporting and Communication (07:30 – 09:30)
- Reporting to the board and external stakeholders
- Module 2: Integrating ERM with Strategy and Culture (09:45 – 11:15)
- Embedding ERM in planning and performance
- Module 3: Workshop – ERM Maturity Assessment and Action Planning (11:30 – 01:00)
- Module 4: Group Presentation and Wrap-up (02:00 – 03:30)
Certification
Certificate of Completion in COSO Enterprise Risk Management (ERM) Framework Training, validating their knowledge and skills in applying COSO ERM principles to support strategic decision-making, enhance governance, and manage organizational risk effectively. This credential affirms the participant’s readiness to implement and lead COSO-aligned ERM practices