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Virtual Classroom: How to create value from risk management

What is required to deliver value from risk management processes? How do we approach risk governance, and how do we manage to aggregate risk information in a manner that actually supports decision making and oversight capabilities?

Relevant for the challenging environment businesses are still facing, there will also be a case presented which gives a good example of coordinating risk responses across functions during a crisis situation.


9:00 – 9:30: Introduction and update on risk management guidance
These guidelines was developed by the IIA Nordic and Baltic countries earlier this year. The target group for these guidelines is organisations that would like to either establish an Enterprise Risk Management function or develop their existing risk management function further. The principles in this guidance may also be useful for organisations without a discrete Enterprise Risk Management function, but where responsibility for Enterprise Risk Management is assigned to another function with enterprise-wide responsibility.
Link to Good Practice Guidelines for the Enterprise Risk Management Function
Presented by Martin Stevens, IIA Norway Risk Management Networking group

9:30 – 11:00: Is risk governance enough?
Many today more or less equate ERM with risk governance, or the allocation of roles and responsibilities in the risk management process. In this talk I discuss why ERM has been less successful in delivering on the promise of risk aggregation, which is a set of techniques for describing the risk of the firm as a whole, and what firms stand to benefit from pursuing it more vigorously.
Presented by PhD in risk management Håkan Associate, Professor at Lund University School of Economics in Sweden

11:00 – 12:00: Coordinating risk response in a crisis
Yara is the world’s leading fertilizer company and a provider of environmental solutions, addressing global challenges and creating positive change. How did Yara manage the Covid19 pandemic as it started unfolding in January 2020? Were they prepared for the rapid change and managing new and volatile risks?
Presented by Roger Steen, VP Emergency Response and Security and Øyvind Hestnes, VP Enterprise Risk Management

You will receive 3,5 CPE’s for attending this event.

More details and CV’s will follow.