Enterprise Risk Management Workshop - Poole College of ...

poole.ncsu.edu

Enterprise Risk Management Workshop - Poole College of ...

Enterprise Risk

Management Workshop

Evaluating Your Organization’s Approach

October 25-26, 2012

AICPA Boardroom

New York, NY

Register today. Limited to 50!

Early Bird

Registration

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$

75

by 8/12/12

A high-level workshop for senior executives

and board members geared to broadening

your approach to enterprise risk management.

Don’t miss these valuable sessions:

• Comparing your ERM process to your peers

• What aspects of your ERM processes are mature

and which have room for improvement

• Enhancing the strategic value of ERM in

your organization

• Approaches to risk identification and assessment

that have worked well for other organizations

New York City Hotel Discounts!

Co-Sponsored by

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cpa2biz.com/conferences | 888.777.7077


Gain valuable knowledge to help

strengthen your organization’s enterprise

risk processes for greater strategic value.

In the wake of a still sluggish economy, many senior executives and board members have

embraced the concept of “enterprise risk management,” investing resources in implementing

processes to identify their organizations’ most significant risks. But many leaders wonder if what

they have done to initiate ERM is effectively positioned to be consistent with emerging best

practices and strategically directed toward impacting their company’s profit and growth.

This jointly sponsored high-level workshop, Enterprise Risk Management – Evaluating Your

Organization’s Approach, will help you assess the overall effectiveness of your ERM process

and identify ways to advance your organization’s ERM efforts up the ERM maturity curve.

It will take you through the processes to help keep your organization focused on emerging

strategic risks, integrate risk oversight with strategy planning and execution, develop key

risk indicators to proactively anticipate risk events, and strengthen board governance

in the new regulatory environment.

Hands-on training.

High-level learning.

This all-important ERM workshop offers

hands-on training and practical examples

of other organizations’ experiences

to broaden your knowledge and

competently address questions

regarding effective enterprise-wide

risk oversight. Interact with renowned

experts on risk management, gain

insights and ideas during this real-world,

comprehensive 1½ day experience.

Hot Topics

Incorporating other dimensions,

such as velocity and persistence,

to evaluate risk probability &

risk impact

Techniques to ensure risk

responses are carried out

as designed

Strengthening risk

communications between

the board & senior management

Who Should Attend

Business executives who play a major role in leading ERM efforts within an enterprise, including

those who serve on the board of directors or in senior executive roles, such as CEOs, chief risk

officers, COOs, CFOs, controllers, chief audit executives, CROs, and other senior executives

who interact with boards and audit committees about risk management issues.

Evaluate your approach. Ask the key questions.

As a senior executive, you’ll have the opportunity to benchmark your organization’s current

approach and pinpoint successful strategies for the future.

• How committed is your organization to examining its readiness to understand and manage

its most strategic risks on a robust basis

• How integrated are your organization’s strategic planning and risk oversight processes

• What is the level of maturity in the organization’s monitoring of its most significant key

risk indicators

Learn more or register | cpa2biz.com | 888.777.7077


Workshop Agenda

Workshop Location: AICPA Boardroom, 1211 Avenue of the Americas, 19 th Floor, New York, NY 10036

(PLEASE NOTE: Photo ID is required for building security check-in)

FIELDS

OF STUDY

BMO-Business Management & Organization

SKA-SPECIALIZED KNOWLEDGE AND APPLICATION

Topics and speakers are subject to change

Workshop Thursday, October 25 / DAY ONE

8:15 am - 8:30 am Registration and Continental Breakfast

8:30 am - 9:45 am Welcome

1 Ensuring Your Organization’s Risk Culture is Supportive

of an Enterprise Risk Management Effort BMO

Mark Beasley, Deloitte Professor of Enterprise Risk Management, North Carolina

State University, Raleigh, NC

For any ERM process to be value-adding, leadership and support from

the board of directors and senior executive team is a necessary condition.

A strong and supportive “risk culture” provides a vital foundation that

ensures that the entity’s leaders view its ERM process as a critical element of

that organization’s strategic success. Without a healthy risk culture, the entity’s

ERM process is likely to be viewed as a bureaucratic, non-value adding initiative.

This session will identify critical elements to establishing a supportive risk

culture and pinpoint areas of focus that ERM leaders should consider when

assessing the strength of their organization’s risk culture and identifying

areas for improvement. The discussion will cover important aspects of:

• Board of director and CEO endorsement of ERM

• Assignment of authority, responsibility, and lines of reporting for

ERM leadership

• Techniques to assess perceptions of risk oversight within the enterprise

10:00 am - 11:15 am 2 Evaluating the Integration of ERM with Strategic Planning SKA

Bonnie Hancock, Executive Director of the ERM Initiative, North Carolina State

University, Raleigh, NC

Unfortunately, many organizations have launched their ERM processes

by engaging in activities to identify potential risks along predefined risk

categories, such as IT, legal, compliance, financial, regulatory, etc. Once they

create a long list of potential risks, they are often left wondering how to

use that inventory of risk information to manage the business. What is

often missing is the connection of risks to the business strategy. Without an

integration of ERM and strategy, boards and senior executives fail to see the

strategic value of their ERM efforts. This session will focus on the importance

of embedding ERM in the context of the strategy of the organization and

will highlight best practices for strengthening the strategic benefit of your

organization’s ERM efforts. It will also highlight challenges and practical

suggestions for articulating the organization’s overall appetite for risk-taking,

and how that should impact strategic planning. The discussion will cover:

• Driving the ERM process from a strategic perspective

• Linking top risk exposures to strategic initiatives to pinpoint the strategies

most vulnerable to risks

• Seeking risks that can translate into strategic opportunities if the

organization takes an informed view of the risks

• Setting risk-adjusted return expectations

• The board of directors and senior management roles in defining the

organization’s appetite for risk taking

• Practical approaches to describing risk appetites across multiple

strategic objectives

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Workshop Agenda

11:15 am - 12:05 pm 3 Evaluating Risk Identification Processes SKA

Bruce Branson, Associate Director of the ERM Initiative, North Carolina State

University, Raleigh, NC

It goes without saying that a critical element of any ERM effort is that there has

to be some kind of process to identify potential risk exposures. Unfortunately

for many organizations, those processes are relatively informal and ad hoc,

leading to incomplete identification of emerging risk exposures. Casual and

unstructured risk identification tasks often lead to the identification of already

known risks, with little encouragement for executives to push their thinking into

the unknown, but knowable risks. In addition, management often struggles

to describe the underlying risk concern – tending to focus on outcomes and

not risk drivers. This session focuses on the benefit of using structured and

repeatable risk identification techniques to strengthen the organization’s

identification of potential risk exposures.

The discussion will cover:

• Identifiable and structured approaches to risk identification

• Common pitfalls to avoid in risk identification, including describing

risk events

• Methods for rolling risk identification processes deeper into the management

ranks beyond just the senior executive team

12:05 pm - 1:00 pm Lunch

1:00 pm - 2:15 pm 4 Evaluating Processes to Assess and Prioritize Risks SKA

Mark Beasley, Deloitte Professor of Enterprise Risk Management, North Carolina

State University, Raleigh, NC

As organizations engage their management team in risk identification

processes, they often find that they are overwhelmed by the number of

potential risk exposures identified. To help prioritize those risks, they often ask

executives to assess the overall likelihood and impact of those risk exposures.

This session will highlight emerging best practices related to risk assessment

that expands the consideration of risks to include considerations of other risk

characteristics, such as the speed of onset and momentum of

risks in addition to their likelihood and impact. It will also highlight techniques

organizations use to score and aggregate their risk assessments to create

an enterprise-wide view.

The discussion will highlight the importance of:

• Considering inherent and residual risk dimensions

• Developing guidelines for management to use in assessing risk impact

and likelihood

• Incorporating other risk dimensions, such as speed of onset and momentum

of risks

• Aggregating risk rankings to prioritize the most important risk exposures

2:30 pm - 4:10 pm 5 ERM in Practice: A Case Study SKA

This session will be led by a senior executive in charge of the ERM efforts in

their organization

Effective implementation of an ERM process takes time and effort for it to

reach a level of maturity and sophistication. This session will feature a realworld

illustration presented by a senior executive who has been leading the

ERM efforts within the organization for some period of time. It will focus on key

elements of success and highlight learning along the way. The discussion will

cover:

• Lessons learned from initial ERM implementation

• Most significant improvements that have been made to bring an ERM process

up the maturity curve

• Methods or measures used to capture the value or results of their

ERM efforts

• Planned enhancements to the ERM process

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4:20 pm - 5:10 pm 6 Evaluating Whether Risk Responses Are Appropriate SKA

Bruce Branson, Associate Director of the ERM Initiative, North Carolina State

University, Raleigh, NC

The key to any successful ERM process is to ensure that an appropriate risk

response is implemented and that the response is working as intended.

Periodic evaluation of whether risk responses are being carried out effectively

is important to the success of an ongoing ERM effort. This session will focus

on processes organizations are using to document the linkage of risk responses

to the risks, including the assignment of risk oversight accountabilities, and

efforts organizations are taking to evaluate the adequacy of existing risk

management responses. The discussion will cover:

• Techniques that entities use to link risk exposures and risk responses

• The importance of assigning risk owners and holding them accountable

for risk responses

• Designing processes to evaluate the effectiveness of risk responses

5:30 pm - 6:30 pm Networking and Cocktail Reception

Workshop Friday, October 26 / DAY TWO

8:30 am - 9:20 am 7 Evaluating the Effectiveness of Your Risk Reporting SKA

Bonnie Hancock, Executive Director of the ERM Initiative, North Carolina State

University, Raleigh, NC

A critical element of any ERM process is reporting of critical risk information

to the board and senior executives about major risk exposures. The challenge

for many is determining the most effective way to summarize and report

risk information in a manner that provides an aggregate view of the top

risk exposures, and that provides key risk indicators for boards and senior

executives to keep their eye on emerging risk exposures. This session will

highlight best practices in developing key risk indicators and reporting risk

information to boards and senior executives. The discussion will cover:

• Steps to developing leading key risk indicators

• Board reporting of top risk exposures

• Identifying risk limits and risk thresholds that trigger risk responses as risks

emerge

9:30 am - 10:45 am 8 Panel Discussion: Driving Improvements in Your ERM Process BMO

Moderator: Bruce Branson, Associate Director of the ERM Initiative,

North Carolina State University, Raleigh, NC

Panel of ERM Thought Leaders

Hear from peers who serve on boards, audit committees, and in senior

executive roles about how evaluating their ERM process has helped them

identify and implement measures to bring their ERM practices up the maturity

curve. This session will also focus on the board’s wishlist for more effective risk

oversight processes. The discussion will cover:

• Benefits resulting from the organization’s approach to ERM

• What has worked and not worked from their perspective

• Most significant improvements that have been made in their organization’s

ERM process

• Wish list of how they would like to see ERM evolve

11:00 am - 12:15 pm 9 So, Where to Go from Here SKA

Mark Beasley, Deloitte Professor of Enterprise Risk Management, North Carolina

State University, Raleigh, NC

This session serves as our capstone of the course by helping participants lay

out those simple first steps to taking their business towards a more strategic

ERM process. We’ll outline a suggested game plan to help participants keep

their efforts focused on the most significant improvement opportunities.

The discussion will cover:

• Managing expectations for the evolution of your ERM process

• Identifying strengths and weaknesses in existing processes

• Prioritizing actions to bring their organization’s ERM up the maturity curve

• Simple next steps for implementing enhancing their organization’s strategic

risk oversight

12:30 pm Workshop Adjourns


The workshop will be facilitated by faculty who lead

the Enterprise Risk Management Initiative at the Poole

College of Management at North Carolina State University

in Raleigh, NC. These individuals are well-known experts in how organizations are more

robustly integrating their consideration of emerging strategic risks, including those related

to an organization’s long-term sustainability, as part of the board and senior management’s

strategic planning and strategy execution. In addition to these individuals, other speakers

will represent senior executives and board of directors of organizations who have been

engaged in ERM efforts for some time.

New York City

Enjoy your stay in New York City and visit

some of the top attractions, including

Time Square, Broadway theaters, Rockefeller

Center and Central Park. Experience Manhattan

at its most magnificent, where you’ll find

excitement around every corner.

Additional Notes


4 Ways to

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Fast

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FAX*: 1.800.362.5066 or 1.919.419.4795

MAIL: Complete and mail the form along with your promotion code to:

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**If you use an AICPA credit card, you can earn 5 points per dollar spent on AICPA Conference purchases.

To learn more or apply, visit www.cpa2biz.com/bankofamerica

RECOMMENDED CPE CREDIT 12.5

This conference was prepared in accordance with the Joint AICPA/NASBA Statement on

Standards for Continuing Professional Education (CPE) Programs effective on January 1, 2002.

The recommended CPE Credits are in accordance with these standards; however, your

individual state board is the final authority on the acceptance of programs for CPE credit.

CONFERENCE FEE

Registration fees are determined by current membership status in the AICPA. Please indicate

member number on the registration form to obtain the correct discount. Conference fee includes

all sessions, conference materials, continental breakfasts, refreshment breaks, luncheons and a

reception. Registration for 2 or more individuals at the same time may qualify for group discounts;

additional savings may be available for groups of 10 or more. For more information please call the

AICPA Service Center at 888.777.7077 (9AM-6PM ET).

dress code Business Casual

CANCELLATION POLICY

You may cancel without penalty if written cancellation requests are received by September 11, 2012.

Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee

will be issued for written requests received by October 5, 2012. No refunds or credits will be issued

on cancellation requests received on or after October 6, 2012. For further information, call the

AICPA Service Center at 888.777.7077.

Workshop location

AICPA Boardroom

1211 Avenue of the Americas, 19th Floor

New York, NY 10036

(PLEASE NOTE: Photo ID is required for building check-in.)

RECOMMENDED HOTEL ACCOMMODATIONS

Please note the following do not have a room block, but offer AICPA Member Hotel Rates:

Sheraton Manhattan at

Times Square*

790 7th Avenue (at 51st Street)

New York, NY 10019

Hotel Phone: 1.212.581.3300

Hotel Reservations: 1.800.325.3535

The Muse Hotel

130 West 46th Street

New York, NY 10036

Hotel Phone: 1.212.485.2400

Hotel Reservations: 1.877.NYC.MUSE

Request the AICPA Corporate Rate

Sheraton New York Hotel & Towers*

811 7th Avenue (at 53rd Street)

New York, NY 10019

Hotel Phone: 1.212.581.1000

Hotel Reservations: 1.800.325.3535

*Request the American Institute of Certified Public Accountants (as opposed to AICPA) Preferred

Rate. Reference SET/Corporate Account Number 69569.

AIRLINE INFORMATION

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with your travel arrangements This travel agency may be reached at 800.345.5540. If you prefer to

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Some restrictions may apply.

American Airlines 800.433.1790 Index #22047

United Airlines 800.521.4041 Refer to Meeting ID #531SI

Delta Airlines 800.328.1111 Refer to Meeting ID #NM8QE

For up-to-date airline information regarding special travel discounts, please visit

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guarantee that the above group travel agreements will be in effect at the time when you

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CAR RENTAL

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Airline and car rental discounts are available only when you or your travel agent book through the

800 number. We strongly advise you to confirm your conference registration and hotel reservation

prior to making your travel plans.

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Enterprise Risk Management Workshop – Evaluating Your Organization’s Approach

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