Risk Management, Ethics & Corporate Governance
Risk management, Ethics and Corporate Governance is often performed by the whole organizational not at unit level, ideally an independent staff function reporting directly to the board of directors, making risk management a board responsibility, strategy and task. The board has to set strategic targets and ensure, via strict controls, that the delegated goals are actually achieved within the centrally mandated guidelines. Running a risk-management function in a centralized manner is advantageous because it allows for an independent, integrated view of all types of risk, so that only the net positions achieves transparency (Schroeck, 2002).
Many crises in different economies, in any business be it insurance or the financial services industry happen because of ethics, and lack of corporate problems within organizations. Often the term risk including corruption (cases of potential losses, personal injuries/death/diseases to workers or employees) is used interchangeably with terms such as danger, hazard, peril, bankruptcy and thus the need to properly make the differentiation between these terms. Organisations that manage their risks and practice good corporate governance have a competitive advantage over others, as they take risks management consciously, anticipate adverse changes and hedge and protect themselves from such changes, to reduce negative financial outflows
This programme is aimed at all board members (ie, including executive, non-executive) directors, chairmen, board committees’ members, managing directors and other board members middle, senior managers, security managers, fund managers, policy makers and Worker Representatives wishing to understand the key drivers of performance in organisations and creating shareholder value, and making organisation good corporate citizens.
Upon completing this workshop, the delegates should be able to:
- Understand and define the concepts, essential principles, and stakeholders of corporate governance
- Understand Risk management and corporate Social Responsibility, citizenship and performance
- Explain board and committee functions and structures and company officers’ training, induction, and behavior
- Controlling risk internally (e.g. internal fraud) are best managed internally through tight guidelines and controls, ethics and corporate governance in modern business, the background and various regulations
- Strengthen management oversight, provide objective measurement tools and Integrate qualitative and quantitative data and other information, principles of good corporate governance and corporate disclosure requirements and corporate governance disclosure in practice
- Compare and analyse the role of stakeholders and corporate managers’ moral obligations in
business decision making and future directions for corporate governance and considerations in corporate decision-making