# Enterprise Risk Management: Executive Seminar for Resource Managers Course (Self-Paced)

Canonical URL: <https://www.graduateschool.edu/courses/enterprise-risk-management-executive-seminar-for-resource-managers-course-self-paced>

## Overview

Enterprise Risk Management (ERM) at the executive level incorporates system-wide assessment of organizational risks, trade-offs, and controls over the mission direction, allocation of and accountability for resources, and protection of human, fiscal, information, and physical assets for effective operations. This seminar is an essential guide for executive leaders and managers in gaining awareness of the risks, challenges, and opportunities in a dynamic external environment and of internal operations to proactively manage and reactively respond. This seminar helps decision makers better understand the interrelationship of risk vs reward, control objectives, and decision points for leveraging resources, addressing challenges and opportunities for high performance.

## What you'll learn

- Understanding the Nature of Risk in Government.
- Recognizing the Risk vs. Internal Control vs. ERM relationship.
- Following/implementing the Risk Management process.
- Understanding the "whys" for an ERM Approach.
- Gaining Value from ERM for higher performance.
- Valuing the Complementary Role of Audit within ERM.
- Achieving Leadership accountability for Enterprise Risk Management.
- Developing Strategies for building a risk awareness culture.
- Using ERM to define risk to strategic goals.
- Applying ERM as an element of organizational decision-making.

## Prerequisites

Students should be familiar with frameworks like ISO 31000 and COSO, and have an understanding of qualitative and quantitative methods. Prior experience with strategic decision-making and internal controls in a government or public sector context is also beneficial.

## Curriculum

#### Module 1: Risk in Government

- Explore the history and evolution of risk management in public sectors.
- Understand different definitions of risk including ISO 31000 and COSO frameworks.
- Discuss the concepts of risk appetite and tolerance in government operations.
- Differentiate between risk, uncertainty, and opportunity.

#### Module 2: Risk vs. Internal Control vs. ERM

- Examine the relationships among risk management, internal controls, and enterprise risk management (ERM).
- Analyze internal and external risk environments and their implications.
- Learn how internal controls support but do not fully substitute for risk management.

#### Module 3: The Risk Management Process

- Establish organizational risk context and criteria for analysis.
- Identify and evaluate risks through qualitative and quantitative methods.
- Develop risk profiles, heat maps, and bowtie analyses.
- Explore risk treatment options: accept, avoid, transfer, or mitigate.

#### Module 4: The Need for ERM

- Understand the strategic advantages of ERM over siloed risk management.
- Review the history and policy mandates for ERM in federal agencies (e.g., OMB A-123).
- Discuss how ERM improves coordination and reduces unmanaged risks.

#### Module 5: Gaining Value from ERM

- Explore value maximization through balancing results, resources, and risks.
- Implement ERM as part of value-based decision-making and portfolio management.
- Incorporate stakeholder needs, governance, and data into risk-informed strategies.

#### Module 6: Additional Considerations for Implementing ERM

- Assess ERM maturity models and long-term implementation strategies.
- Define leadership’s role in risk culture and governance structures.
- Understand collaboration with auditors and audit readiness within ERM systems.

## Pricing

**Tuition:** $579