Foundations & Frameworks of Enterprise Risk Management

Categories: Chartered
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About Course

This module introduces the essential building blocks of Enterprise Risk Management (ERM), providing learners with a clear understanding of what constitutes risk, uncertainty, and opportunity in today’s dynamic organizational environment. It explores both the theoretical foundations and practical frameworks that guide risk governance, including ISO 31000 and COSO ERM standards. Additionally, it outlines the roles and responsibilities of leadership in embedding a risk-aware culture and aligning risk appetite with strategic objectives. By the end of this module, learners will be equipped with the core vocabulary, structural models, and governance principles that underpin effective ERM practices in any sector.

What Will You Learn?

  • Understand the fundamental concepts of risk, uncertainty, threats, and opportunities across different business domains.
  • Differentiate between key risk types: strategic, operational, financial, compliance, and emerging risks.
  • Apply globally recognized risk management standards: ISO 31000:2018 and COSO ERM 2004 & 2017.
  • Analyze how effective risk governance is driven by risk culture, appetite, and tone at the top.
  • Define the roles and responsibilities of the Board of Directors and Executive Management in shaping risk-informed decision-making.
  • Use maturity models and the Three Lines Model to evaluate and structure risk governance.
  • Align ethics, policies, and codes of conduct with risk control and strategic goals.

Course Content

Core Risk Concepts & Classifications

  • Defining Risk and Uncertainty
  • Types of Risk
  • Opportunities as Positive Risks
  • Risk Context and Environment
  • Common Misconceptions

Global Risk Management Frameworks

Governance, Culture & Leadership in ERM

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