Enterprise Risk Management Workshop

Transcription

1 Enterprise Risk Management Workshop Evaluating Your Organization s Approach October 25-26, 2012 AICPA Boardroom New York, NY Register today. Limited to 50! Early Bird Registration Save $ 75 by 8/12/12 A high-level workshop for senior executives and board members geared to broadening your approach to enterprise risk management. Don t miss these valuable sessions: Comparing your ERM process to your peers What aspects of your ERM processes are mature and which have room for improvement Enhancing the strategic value of ERM in your organization Approaches to risk identification and assessment that have worked well for other organizations New York City Hotel Discounts! Co-Sponsored by Learn more or register cpa2biz.com/conferences

2 Gain valuable knowledge to help strengthen your organization s enterprise risk processes for greater strategic value. In the wake of a still sluggish economy, many senior executives and board members have embraced the concept of enterprise risk management, investing resources in implementing processes to identify their organizations most significant risks. But many leaders wonder if what they have done to initiate ERM is effectively positioned to be consistent with emerging best practices and strategically directed toward impacting their company s profit and growth. This jointly sponsored high-level workshop, Enterprise Risk Management Evaluating Your Organization s Approach, will help you assess the overall effectiveness of your ERM process and identify ways to advance your organization s ERM efforts up the ERM maturity curve. It will take you through the processes to help keep your organization focused on emerging strategic risks, integrate risk oversight with strategy planning and execution, develop key risk indicators to proactively anticipate risk events, and strengthen board governance in the new regulatory environment. Hands-on training. High-level learning. This all-important ERM workshop offers hands-on training and practical examples of other organizations experiences to broaden your knowledge and competently address questions regarding effective enterprise-wide risk oversight. Interact with renowned experts on risk management, gain insights and ideas during this real-world, comprehensive 1½ day experience. Hot Topics Incorporating other dimensions, such as velocity and persistence, to evaluate risk probability & risk impact Techniques to ensure risk responses are carried out as designed Strengthening risk communications between the board & senior management Who Should Attend Business executives who play a major role in leading ERM efforts within an enterprise, including those who serve on the board of directors or in senior executive roles, such as CEOs, chief risk officers, COOs, CFOs, controllers, chief audit executives, CROs, and other senior executives who interact with boards and audit committees about risk management issues. Evaluate your approach. Ask the key questions. As a senior executive, you ll have the opportunity to benchmark your organization s current approach and pinpoint successful strategies for the future. How committed is your organization to examining its readiness to understand and manage its most strategic risks on a robust basis? How integrated are your organization s strategic planning and risk oversight processes? What is the level of maturity in the organization s monitoring of its most significant key risk indicators? Learn more or register cpa2biz.com

3 Workshop Agenda Workshop Location: AICPA Boardroom, 1211 Avenue of the Americas, 19 th Floor, New York, NY (PLEASE NOTE: Photo ID is required for building security check-in) FIELDS OF STUDY BMO-Business Management & Organization SKA-SPECIALIZED KNOWLEDGE AND APPLICATION Topics and speakers are subject to change Workshop Thursday, October 25 / DAY ONE 8:15 am - 8:30 am Registration and Continental Breakfast 8:30 am - 9:45 am Welcome 1 Ensuring Your Organization s Risk Culture is Supportive of an Enterprise Risk Management Effort BMO Mark Beasley, Deloitte Professor of Enterprise Risk Management, North Carolina State University, Raleigh, NC For any ERM process to be value-adding, leadership and support from the board of directors and senior executive team is a necessary condition. A strong and supportive risk culture provides a vital foundation that ensures that the entity s leaders view its ERM process as a critical element of that organization s strategic success. Without a healthy risk culture, the entity s ERM process is likely to be viewed as a bureaucratic, non-value adding initiative. This session will identify critical elements to establishing a supportive risk culture and pinpoint areas of focus that ERM leaders should consider when assessing the strength of their organization s risk culture and identifying areas for improvement. The discussion will cover important aspects of: Board of director and CEO endorsement of ERM Assignment of authority, responsibility, and lines of reporting for ERM leadership Techniques to assess perceptions of risk oversight within the enterprise 10:00 am - 11:15 am 2 Evaluating the Integration of ERM with Strategic Planning SKA Bonnie Hancock, Executive Director of the ERM Initiative, North Carolina State University, Raleigh, NC Unfortunately, many organizations have launched their ERM processes by engaging in activities to identify potential risks along predefined risk categories, such as IT, legal, compliance, financial, regulatory, etc. Once they create a long list of potential risks, they are often left wondering how to use that inventory of risk information to manage the business. What is often missing is the connection of risks to the business strategy. Without an integration of ERM and strategy, boards and senior executives fail to see the strategic value of their ERM efforts. This session will focus on the importance of embedding ERM in the context of the strategy of the organization and will highlight best practices for strengthening the strategic benefit of your organization s ERM efforts. It will also highlight challenges and practical suggestions for articulating the organization s overall appetite for risk-taking, and how that should impact strategic planning. The discussion will cover: Driving the ERM process from a strategic perspective Linking top risk exposures to strategic initiatives to pinpoint the strategies most vulnerable to risks Seeking risks that can translate into strategic opportunities if the organization takes an informed view of the risks Setting risk-adjusted return expectations The board of directors and senior management roles in defining the organization s appetite for risk taking Practical approaches to describing risk appetites across multiple strategic objectives Register by 8/12/12 SAVE $75!

4 Workshop Agenda 11:15 am - 12:05 pm 3 Evaluating Risk Identification Processes SKA Bruce Branson, Associate Director of the ERM Initiative, North Carolina State University, Raleigh, NC It goes without saying that a critical element of any ERM effort is that there has to be some kind of process to identify potential risk exposures. Unfortunately for many organizations, those processes are relatively informal and ad hoc, leading to incomplete identification of emerging risk exposures. Casual and unstructured risk identification tasks often lead to the identification of already known risks, with little encouragement for executives to push their thinking into the unknown, but knowable risks. In addition, management often struggles to describe the underlying risk concern tending to focus on outcomes and not risk drivers. This session focuses on the benefit of using structured and repeatable risk identification techniques to strengthen the organization s identification of potential risk exposures. The discussion will cover: Identifiable and structured approaches to risk identification Common pitfalls to avoid in risk identification, including describing risk events Methods for rolling risk identification processes deeper into the management ranks beyond just the senior executive team 12:05 pm - 1:00 pm Lunch 1:00 pm - 2:15 pm 4 Evaluating Processes to Assess and Prioritize Risks SKA Mark Beasley, Deloitte Professor of Enterprise Risk Management, North Carolina State University, Raleigh, NC As organizations engage their management team in risk identification processes, they often find that they are overwhelmed by the number of potential risk exposures identified. To help prioritize those risks, they often ask executives to assess the overall likelihood and impact of those risk exposures. This session will highlight emerging best practices related to risk assessment that expands the consideration of risks to include considerations of other risk characteristics, such as the speed of onset and momentum of risks in addition to their likelihood and impact. It will also highlight techniques organizations use to score and aggregate their risk assessments to create an enterprise-wide view. The discussion will highlight the importance of: Considering inherent and residual risk dimensions Developing guidelines for management to use in assessing risk impact and likelihood Incorporating other risk dimensions, such as speed of onset and momentum of risks Aggregating risk rankings to prioritize the most important risk exposures 2:30 pm - 4:10 pm 5 ERM in Practice: A Case Study SKA This session will be led by a senior executive in charge of the ERM efforts in their organization Effective implementation of an ERM process takes time and effort for it to reach a level of maturity and sophistication. This session will feature a realworld illustration presented by a senior executive who has been leading the ERM efforts within the organization for some period of time. It will focus on key elements of success and highlight learning along the way. The discussion will cover: Lessons learned from initial ERM implementation Most significant improvements that have been made to bring an ERM process up the maturity curve Methods or measures used to capture the value or results of their ERM efforts Planned enhancements to the ERM process Register by 8/12/12 SAVE $75!

5 4:20 pm - 5:10 pm 6 Evaluating Whether Risk Responses Are Appropriate SKA Bruce Branson, Associate Director of the ERM Initiative, North Carolina State University, Raleigh, NC The key to any successful ERM process is to ensure that an appropriate risk response is implemented and that the response is working as intended. Periodic evaluation of whether risk responses are being carried out effectively is important to the success of an ongoing ERM effort. This session will focus on processes organizations are using to document the linkage of risk responses to the risks, including the assignment of risk oversight accountabilities, and efforts organizations are taking to evaluate the adequacy of existing risk management responses. The discussion will cover: Techniques that entities use to link risk exposures and risk responses The importance of assigning risk owners and holding them accountable for risk responses Designing processes to evaluate the effectiveness of risk responses 5:30 pm - 6:30 pm Networking and Cocktail Reception Workshop Friday, October 26 / DAY TWO 8:30 am - 9:20 am 7 Evaluating the Effectiveness of Your Risk Reporting SKA Bonnie Hancock, Executive Director of the ERM Initiative, North Carolina State University, Raleigh, NC A critical element of any ERM process is reporting of critical risk information to the board and senior executives about major risk exposures. The challenge for many is determining the most effective way to summarize and report risk information in a manner that provides an aggregate view of the top risk exposures, and that provides key risk indicators for boards and senior executives to keep their eye on emerging risk exposures. This session will highlight best practices in developing key risk indicators and reporting risk information to boards and senior executives. The discussion will cover: Steps to developing leading key risk indicators Board reporting of top risk exposures Identifying risk limits and risk thresholds that trigger risk responses as risks emerge 9:30 am - 10:45 am 8 Panel Discussion: Driving Improvements in Your ERM Process BMO Moderator: Bruce Branson, Associate Director of the ERM Initiative, North Carolina State University, Raleigh, NC Panel of ERM Thought Leaders Hear from peers who serve on boards, audit committees, and in senior executive roles about how evaluating their ERM process has helped them identify and implement measures to bring their ERM practices up the maturity curve. This session will also focus on the board s wishlist for more effective risk oversight processes. The discussion will cover: Benefits resulting from the organization s approach to ERM What has worked and not worked from their perspective Most significant improvements that have been made in their organization s ERM process Wish list of how they would like to see ERM evolve 11:00 am - 12:15 pm 9 So, Where to Go from Here? SKA Mark Beasley, Deloitte Professor of Enterprise Risk Management, North Carolina State University, Raleigh, NC This session serves as our capstone of the course by helping participants lay out those simple first steps to taking their business towards a more strategic ERM process. We ll outline a suggested game plan to help participants keep their efforts focused on the most significant improvement opportunities. The discussion will cover: Managing expectations for the evolution of your ERM process Identifying strengths and weaknesses in existing processes Prioritizing actions to bring their organization s ERM up the maturity curve Simple next steps for implementing enhancing their organization s strategic risk oversight 12:30 pm Workshop Adjourns

6 The workshop will be facilitated by faculty who lead the Enterprise Risk Management Initiative at the Poole College of Management at North Carolina State University in Raleigh, NC. These individuals are well-known experts in how organizations are more robustly integrating their consideration of emerging strategic risks, including those related to an organization s long-term sustainability, as part of the board and senior management s strategic planning and strategy execution. In addition to these individuals, other speakers will represent senior executives and board of directors of organizations who have been engaged in ERM efforts for some time. New York City Enjoy your stay in New York City and visit some of the top attractions, including Time Square, Broadway theaters, Rockefeller Center and Central Park. Experience Manhattan at its most magnificent, where you ll find excitement around every corner. Additional Notes

7 4 Ways to Register Fast RECOMMENDED CPE CREDIT 12.5 This conference was prepared in accordance with the Joint AICPA/NASBA Statement on Standards for Continuing Professional Education (CPE) Programs effective on January 1, The recommended CPE Credits are in accordance with these standards; however, your individual state board is the final authority on the acceptance of programs for CPE credit. CONFERENCE FEE Registration fees are determined by current membership status in the AICPA. Please indicate member number on the registration form to obtain the correct discount. Conference fee includes all sessions, conference materials, continental breakfasts, refreshment breaks, luncheons and a reception. Registration for 2 or more individuals at the same time may qualify for group discounts; additional savings may be available for groups of 10 or more. For more information please call the AICPA Service Center at (9AM-6PM ET). dress code Business Casual CANCELLATION POLICY You may cancel without penalty if written cancellation requests are received by September 11, Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee will be issued for written requests received by October 5, No refunds or credits will be issued on cancellation requests received on or after October 6, For further information, call the AICPA Service Center at Workshop location AICPA Boardroom 1211 Avenue of the Americas, 19th Floor New York, NY (PLEASE NOTE: Photo ID is required for building check-in.) RECOMMENDED HOTEL ACCOMMODATIONS Please note the following do not have a room block, but offer AICPA Member Hotel Rates: Sheraton Manhattan at Times Square* 790 7th Avenue (at 51st Street) New York, NY Hotel Phone: Hotel Reservations: ONLINE*: PHONE*: or FAX*: or MAIL: Complete and mail the form along with your promotion code to: AICPA Member Service Center, Conferences, 220 Leigh Farm Road, Durham, NC *Credit card registration only (AICPA VISA **, American Express, Diners Club, Discover, MasterCard or VISA ) **If you use an AICPA credit card, you can earn 5 points per dollar spent on AICPA Conference purchases. To learn more or apply, visit The Muse Hotel 130 West 46th Street New York, NY Hotel Phone: Hotel Reservations: NYC.MUSE Request the AICPA Corporate Rate Sheraton New York Hotel & Towers* 811 7th Avenue (at 53rd Street) New York, NY Hotel Phone: Hotel Reservations: *Request the American Institute of Certified Public Accountants (as opposed to AICPA) Preferred Rate. Reference SET/Corporate Account Number AIRLINE INFORMATION The AICPA has a special arrangement with Maupin Travel, Inc. of North Carolina to assist you with your travel arrangements This travel agency may be reached at If you prefer to make your own travel plans, be sure to mention the participating airline s reference number (listed below) to take advantage of deeply discounted Zone Fares that do not require a Saturday night stay-over. Discounts are valid for round trip registered AICPA meetings or conferences only. Some restrictions may apply. American Airlines Index #22047 United Airlines Refer to Meeting ID #531SI Delta Airlines Refer to Meeting ID #NM8QE For up-to-date airline information regarding special travel discounts, please visit cpa2biz.com/conferences. Due to recent airline industry fare restructuring, we cannot guarantee that the above group travel agreements will be in effect at the time when you are making your travel arrangements. Please contact the airline and/or your travel agency for latest applicable discounts and arrangements. CAR RENTAL Hertz Car Rental AICPA Member Discounts: Call Ref. Code CV#021H0019. Airline and car rental discounts are available only when you or your travel agent book through the 800 number. We strongly advise you to confirm your conference registration and hotel reservation prior to making your travel plans. EXHIBIT AND SPONSORSHIP OPPORTUNITIES Don t miss the opportunity to present and sell your organization s services and products to thousands of CPAs and financial professionals at AICPA conferences. For detailed information on conference exhibit and sponsorship opportunities, please send your to exhibit@aicpa.org. Learn more or register cpa2biz.com

8 Register by 8/12/12 SAVE $75 AICPA Store/Cpa2Biz 220 Leigh Farm Road Durham, NC To register: cpa2biz.com/conferences Enterprise Risk Management Workshop Evaluating Your Organization s Approach Membership/registration information AICPA Member? Yes No AICPA Member No. Nickname for Badge B business Telephone Conference fees Please circle appropriate rate. October New York, NY (AUDITCONF211) AICPA Non- Member Member Early Bird Registration $1,150 $1,450 SAVE $75 by 8/12/12 Regular Registration $1,225 $1,525 Payment information Full payment must accompany registration form. My check for $ payable to AICPA is enclosed. OR Please bill my credit card for $ AICPA VISA * American Express Diners Club Discover MasterCard Visa CARD NO. EXP. DATE Title Total $ $ BILLING NAME SIGNATURE Address *If you use an AICPA credit card, you can earn 5 points per dollar spent on AICPA Conference purchases. To learn more or apply, visit Please photocopy this form for additional registrants. If the information on your label is incorrect, please complete the following: AICPA Use Only AUDITCONF212 Customer No. Promotion Code LAST NAME F first NAME MI Firm name or Affiliation STREET ADDRESS SUITE PO BOX CITY STATE ZIP In accordance with the Americans with Disabilities Act, do you have any special needs/dietary restrictions? Yes No (If yes, you will be contacted.) 12CPA-623 AUDITCONF Prsrt-std U.S. Postage PAID AICPA/CPA2biz