LINKING RISK MANAGEMENT TO BUSINESS PERFORMANCE
Date: 29 Dec 2008 7 CPD Hrs
» What is Risk?
» What is Risk Management?
» What is the difference between internal control and risk management?
» What value is in Risk Management?
Both Internal Control and Risk Management are key components of Enterprise Governance.
» Which is responsible for business performance?
» Who is responsible for enterprise governance?
» Who is responsible for Risk Management?
» Is Risk Management an expense or an investment?
Risk Management is the Asymmetrical Twin of Internal Control.
Enterprise Risk Management reveals whether:
1. the enterprise risks are identifiable?
2. the enterprise risks are assessable?
3. the enterprise risks are manageable?
4. the enterprise risks appetite is appropriate?
5. the enterprise risks capacity is adequate?
6. the enterprise risks capability is proficient?
7. the customers are contributing risks to the enterprise?
8. the vendors are contributing risks to the enterprise?
9. the investments are contributing excessive risks to the enterprise?
10. the enterprise risk management is creating value?
The Asian Financial Crisis 1997 for all the banks and many other individual cases were caused by failures in all three areas:
» Enterprise Governance
» Risk Management
» Credit Control
The World Financial Tsunami in 2008 showed similar failures in totality.
» What happened to the Enterprise Risk Management in the banks?
» Why was ERM not linked to business performance?
» Can ERM be effectively linked to business performance?
» How to link ERM to business performance?
» How to determine the financial valuation of ERM?
Programme Outline
» Enterprise Risk Management Overview
Introduction to the Enterprise Risk Management Need / Status / Future
» Integrated Enterprise Risk Management Transformation
Understanding the ERM Role and Framework
» Enterprise Risk Management Gap
The Stakeholders’ perception of actual ERM Practice
» Innovative Enterprise Risk Management
The form and substance of ERM for business value-add
» ERM and Business Connect Reflection
Deliberation on the Impact of the ERM and Business Connect.
Professor Teo Yeok Tee MAcc; MBus(I.T.); Grad.Dip.PM; Grad.Cert.MC; Bbus(Tpt); PNA; CIA; CFE; CMA; CPA; FCPA; FChFP; CTM; SAP Certified Consultant; ISO9000 Quality Management System Lead Auditor.
Prof Teo had acquired an in-depth knowledge in multi-disciplinary academic qualifications and professional certifications internationally. During the 1997 Asian financial crisis, he has achieved high growth of over S$100 million annual turnover, super profits as well as excessive cash liquidity as MNC Senior Regional Management Head of strategic business unit.
He has accomplished a 5-Year Long Service Teaching Award for university post-graduate management modules, researched and developed a Strategic Management Assurance Review Technique (Dr. SMART®) Model for innovative corporate governance, a Strategic Talent Achievement Reconcilement System (STARS) for innovative talent development, Value For Money (VFM), P@M Business Mastery System, STAR Excellence Five-Dimension Learning Paradigm (SELP), STAR Excellence Memory Paradigm (SEMP), and Wealth CARE Program. He introduced the Dr. SMART® Enterprise Control & Risk Management Model and the COSO ERM Framework into a world leading China conglomerate. The Enterprise Information & Communication System (EICS) was initiated as the COSO Kickoff.
He is academically endowed with a Master of Accountancy, Master of Business in Information Technology, Graduate Diploma in Personnel Management, Graduate Certificate in Management Consultancy, Bachelor of Business in Transport, Advanced Diploma in Export & Shipping, Advanced Diploma in Computer Studies, Advanced Diploma in Business Administration, Higher Diploma in Auditing, Higher Diploma in Economics, Professional Diploma in Management, Professional Diploma in Financial Accounting, Advanced Certificate in Marketing Studies, Oxford Professional Certificate in English Proficiency. In 1995, he topped the Charles Sturt University Master of Accountancy Examinations for ACC 515 Accounting & Finance Module. His expert professionalism is internationally benchmarked to Professional National Accountant; Certified Internal Auditor; Certified Management Accountant; Certified Public Accountant; Certified Fraud Examiner; Fellow Chartered Financial Practitioner, Competent ToastMaster, SAP Certified Consultant, IRCA ISO 9000 Quality Management System Lead Auditor, UK Certified Ballroom Dance Teacher.
In 2005, he was awarded the prestigious membership of the WALTON ELITE Club.
