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
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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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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
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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

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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.)
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Enterprise Risk Management Workshop – Evaluating Your Organization’s Approach
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