Surgent's Enterprise Risk Management for Small and Medium-Sized Companies

Overview

2020 taught us that major risks can come at us from any direction and with barely a warning. All organizations operate in a risk environment; however, generally only the large for-profit organizations pay a lot of attention to risk management. Or, other organizations equate risk management to insurance and completely miss some of the most important things that create and affect risk. Many years ago, led by the financial industry, large companies introduced systematic analysis in evaluating risk; however, those skills have generally failed to transfer to small and medium-sized organizations. This program seeks to do exactly that. We will explore the needs and concepts of risk management, showing how they equally affect both large and small companies as well as for-profit and not-for-profit organizations. With liberal use of case studies, we will see how companies can face the issues of risk management and systematically develop a structure to identify, evaluate, and mitigate those risks. In each area we will explore what our experiences of the pandemic have taught us about this part of risk management. It is important to note that the program is not for the experienced risk manager of the large organization, but for the finance professional dealing with a small to medium-sized company who desires to establish or refine an integrated enterprise risk management strategy.

Highlights

The nature of risk in any size or type of organization
What COVID-19 has taught us about risk management
Risk tolerance and developing a risk plan
Risk identification
Risk evaluation
Risk response
Strategy risk
Financial risk
Marketing risk
Compliance and liability risk
Operational risk
Environmental risk
Cyber risk

Prerequisites

Experience in financial management of a small or midsize company

Designed For

CFOs, controllers, and finance professionals

Objectives

Understand the concepts of enterprise risk management
Learn more about how we could have been better prepared for the pandemic
Determine the nature of risk in all-sized companies
Avoid being blind to obvious risks facing the company
Rid the company of the “silo” approach to risk
Perform risk identifications and evaluations
Match risk to insurance in the most economical way
Maximize organizational profits through reduction and transfer of risks
Understand the best approaches to cyber risk