Risk Management – Fraud & Error

Introduction:

Risk Management in the Decision Making Process

Risk & uncertainty are present in most operational/commercial decisions that we make. In order to make good decisions we need to try to minimize if not eliminate these risks and uncertainties. Risk and uncertainty that is not understood and mitigated can cost companies millions of dollars and sometimes even wipe out the entire business as we have noted in the spectacular meltdown of global financial institutions such as Lehman Brothers and even AIA (almost). This programme will enable participants to:

Establish A Risk-Based Approach To The Decision Making Process

Understand The Purpose Of Internal Controls

Identify Incidents Of Fraud Or Error

Be Equipped With Basic Skills Of How To Conduct And Audit Or Forensics Investigation And Know What To Look For

How Will You Benefit

Key learning areas covered during this course include:

• Understanding risk and uncertainty
• Identify the different types of risks
• What is risk management and risk profiling
• Risk assessment & mitigation – the need to be compliant and commercial
• Understanding types of errors and their effects
• Measuring risk, probability & outcomes
• Understanding the audit function and the importance of evidence
• Learn how to conduct basic audits
• Understand why documentation is important
• Know who is responsible and therefore accountable? Establishing a hierarchy of responsibility and accountability.

Who Should Attend

Department Heads, Managers, & Executives from Consumer/Corporate Credit (Sales, Initiation, Structuring), Documentation, Customer Relationship, Legal, Loan Recovery departments

Methodology

This stimulating program will include Q&As, group activities (games) and discussions as part of a comprehensive experiential learning experience.

Module