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21WI-0769: Linking Risk Management to Strategy (Webinar)

Date Thursday, February 3, 2022
Time 2:00pm - 3:30pm
Central Time
Location Online
CPE credits CPE 1.5
Field(s)
of study
Management Services - Technical (1.5)
Instructor Bruce Shepard, CPA
American Institute of Certified Public Accountants
Fees
Standard Member Fee $79.00
Standard Nonmember Fee $99.00
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Description

Linking Risk Management to Strategy and Strategic Planning --integrating risk management into your strategic planning is essential for its success. However, as showed by the included surveys, only about 20% of companies have integrated their ERM activities into strategic planning. The material provides several surveys identifying top risks as described by executives. The uneven impact of Black Swan events (9/11, Great Recession and Covid-19)among industries and companies within industries is discussed. For example, in retail bricks and mortar firms suffered lost business, as companies with a strong e-commerce base grew during Covid-19. The changed role of financial professionals to help bring about a better understanding of the organization's business model, as a means to add significant value is part of the over all discussion. The use of the Balanced Scorecard as a tool to reduce the number of measurements and focus on key metrics (KPIs) is demonstrated. By cascading linked measurements throughout the company risk management and overall strategy become part of every activity. Other techniques such as strategy mapping areused in the discussion and in exercises. An executive summary of The State ofRisk Oversight (2018), co-sponsored by AICPA and North Carolina StateUniversity, is included to aid the participants as they implement the processof linking ERM activities with strategic planning efforts.

Who should take this program?

Practitioners of any level who play a risk management role

Major subjects

  • N/A

Learning objective(s)

  • Recognize the importance of linking risk to strategic planning  
  • Identify the strategies to handle risks 
  • Recognize the expanding role of finance 
  • Recall how to incorporate risk management into strategic planning

Notes:

Course code Code 21WI-0769
Sponsor AICPA
NASBA ID#: 112891
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Familiarity with enterprise risk management concepts and best practices.
Advance
prep
None
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