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Zach
Le Roux
| Masterclass 4: Optimising the benefits of ERM The global financial crisis exposed the large gap between risk management theory and practice and the requirement for risk management to be as important as accounting in an organisation. This masterclass explores how risk management processes and practices should look and the need for risk management to be an embedded process within your Organisation with a focus on the fine tuning the processes for event identification, risk assessment and risk response. Key learning points include:
• Understand how financial management in the past has appeared to fail, the fundamental contributors to the crisis and how to practically address risk management challenges
• Learn how to implement ‘real’ and ‘living’ risk management in your organisation
• Assess the practical components and processes of effective risk management
• Understand the real value add of good risk management to your organisation
• Explore how risk management should be embedded into your day-to-day management, processes and board reports.
The structure and key points of discussion to achieve this are:
• Introduction and background
• Optimising event identification techniques
• Risk assessment and the importance of inherent risk measurements
• The risk maturity model
• The law of diminishing returns in analysing cost vs benefit
• Combining risk responses
• The portfolio view and the role of risk appetite
• The ongoing nature of ERM
Zach le Roux CIA CCSA, Chief Executive, Audit and Governance Services
Zach le Roux founded Audit & Governance Services in 1998. His experience in auditing and consulting spans more than 25 years. He promotes the philosophies of the wider role of internal audit, management self-assessment and strategic business management. Currently he consults and trains internationally in the internal audit, risk management and corporate governance fields to clients in both the public and private sector. Zach is a retired director of the Institute of Internal Auditors in South Africa and past chairman of the IIA conference organising committee. He is a current Audit Committee member for the South African National Treasury and has spoken at various seminars and conferences in Australia, South Africa, Malaysia, Singapore, Dubai, Qatar, New Zealand, Ethiopia, Botswana and Namibia.
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