PROCESS SAFETY MANAGEMENT FOR FINANCIAL PROFESSIONALS
“Bridging Financial Insight with Operational Risk to Strengthen Process Safety Oversight”
Course Schedule
| Date | Venue | Online |
| 03 – 07 Mar 2025 | Online
(Live Virtual) |
USD 1500 per delegate |
Course Introduction
Process safety incidents often carry high human, environmental, and financial costs. While engineering and HSE teams lead technical aspects, finance professionals must understand the systems, risks, and indicators associated with process safety to ensure that resource allocation, financial controls, and capital planning support a strong safety culture.
This unique 5-day program is designed to empower financial professionals with foundational and practical knowledge of Process Safety Management (PSM). Participants will learn how to interpret process safety risks, support risk mitigation through investment analysis, and evaluate cost/benefit implications of safety decisions.
Course Objectives
By the end of this course, participants will be able to:
- Understand the structure, purpose, and lifecycle of a Process Safety Management system.
- Analyze the financial implications of process safety failures and investments.
- Evaluate cost-justified safety interventions and capital projects.
- Collaborate with operations, engineering, and HSE to align priorities.
- Track and report PSM indicators in board-level and regulatory reports.
- Support assurance and audit efforts for safety-critical spending and controls.
Key Benefits of Attending
- Gain critical insight into the business impact of process safety.
- Speak the language of operations and HSE in risk and control discussions.
- Influence capital planning and budgeting for safety-critical systems.
- Align financial oversight with global best practices in high-risk industries.
- Strengthen risk governance
Intended Audience
This program is designed for:
- CFOs, finance managers, and controllers in high-risk industries
- Project finance and capital planning professionals
- Risk managers and internal auditors
- Investment and cost engineers
- Financial analysts supporting operations or maintenance functions
Individual Benefits
Key competencies that will be developed include:
- Risk-based investment analysis
- Operational cost control related to safety systems
- Financial communication of safety priorities
- Understanding safety-critical asset lifecycle costs
- Assurance and budgeting for risk mitigation strategies
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Better collaboration between finance and HSE/operations
- More strategic use of capital in safety projects
- Stronger internal control and audit assurance over safety risks
- Improved board-level understanding of PSM cost/risk trade-offs
- Sustainable support for a safety-focused investment culture
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Virtual Expert-Led Lectures – Key principles and real-world cases
- Tools & Templates – Financial models, dashboards, and evaluation frameworks
- Group Exercises – Cost-justification, prioritization, and risk scoring
- Simulation Activities – Project ranking and stakeholder reporting
- Case Studies – Process safety failures and financial responses
- Final Presentation – Risk-financial plan and investment pitch
Course Outline
Detailed 5-Day Course Outline
Delivery Format: Online (Live) | Platform: Zoom, WebEx or Microsoft Teams
Day 1: Process Safety Fundamentals for Finance
Module 1: Introduction to Process Safety Management
- Key PSM pillars and safety lifecycle
- Major accident hazards and industry case reviews
- Role of finance in safety oversight
Module 2: Financial Exposure to Safety Events
- Cost of incidents: direct, indirect, reputational
- Business interruption and liability impacts
- Global examples of financial consequences
Module 3: Group Exercise – Mapping Safety Risk to Financial Impact
- Identify risk categories and cost pathways
Day 2: Risk, Investment & Capital Planning
Module 4: Understanding Safety-Critical Assets
- Maintenance-sensitive vs. safety-critical systems
- Asset lifecycle and risk correlation
- Integration with reliability and integrity plans
Module 5: Budgeting for Safety Programs
- Annual vs. project-based risk budgets
- CapEx and OpEx planning for safety interventions
- Evaluating benefit against exposure risk
Module 6: Investment Prioritization – Workshop
- Scenario-based project ranking using risk vs. ROI models
Day 3: Controls, Assurance, and Governance
Module 7: Safety Risk Controls and Cost Justification
- Administrative, engineered, and procedural controls
- Assessing implementation cost vs. residual risk
- Cross-functional funding justification
Module 8: Assurance Frameworks and Audit Role
- How finance supports safety audits
- Testing controls for design and effectiveness
- Assurance roles in MoC, procurement, and contracts
Module 9: Exercise – Drafting a Safety Investment Proposal
- Create a pitch linking cost, control, and risk reduction
Day 4: Reporting, Metrics & Board Engagement
Module 10: Leading & Lagging PSM Indicators
- Risk KPIs finance should understand
- Integration of safety metrics in finance reports
- Tools for trend analysis and threshold alerts
Module 11: Reporting Safety Risk to Leadership
- CFO briefings, board reports, and audit committee updates
- Tying capital performance to safety indicators
- Communicating non-financial risk drivers
Module 12: Simulation – Safety Risk Reporting Dashboard
- Build a basic safety performance dashboard using financial insights
Day 5: Strategic Planning and Wrap-Up
Module 13: Long-Term Safety Planning and Risk Financing
- Sustaining investment in aging assets
- Risk pools, reserves, and self-insurance
- Prioritizing safety in 3–5 year plans
Module 14: Cross-Functional Collaboration
- Governance models for shared safety-finance ownership
- Budget escalation and trade-off conversations
- Creating cross-departmental trust
Module 15: Final Project & Action Planning
- Team presentations: Linking process safety to financial strategy
- Course wrap-up, Q&A, and next steps
Certification
Participants who complete the program will receive a Certificate of Completion in Process Safety Management for Financial Professionals, recognizing their ability to align finance and safety to strengthen risk governance and investment decision-making.