Certification in Risk Management Assurance (CRMA) Training Course

Why select this training course?

One of the dilemmas of every major organization is navigating through risk, threats, and vulnerabilities. Moreover, the risk landscape of every organization keeps changing. It is thus important for individuals or personnel responsible for risk management in organizations to be adequately trained and be able to keep up with the changing dynamics of risk management. to be equipped with the skills needed to manage risks in the organization.

What is risk management assurance?

Risk Management Assurance refers to the demonstration of a trained expert’s ability to assess, advise, and provide assurance on the primary component of an organization’s corporate governance and risk management structure.

What is a risk assurance framework?

A Risk Assurance Framework focuses on identifying, analyzing, mapping, and coordinating an organization’s assurance sources by critically examining the established framework for its risk management, corporate governance, and control process.

To provide adequate training for professionals who handle risks, Rcademy has put together Certification in Risk Management Assurance (CRMA) Training Course to train personnel in effectively handling risks. In addition, the certification course will enable personnel.

Who should attend?

Certification in Risk Management Assurance (CRMA) Training Course by Rcademy is open to everyone willing to learn about the rudiments of risk management, assurance, and advice relating to auditing and executive positions. Nonetheless, it is specifically recommended for the following professionals:

• Internal auditors are responsible for auditing the financial statements of organizations to ensure compliance
• Risk assessment managers are in charge of identifying risks and potential threats and vulnerabilities
• Members of the audit committee that oversee the compliance of the organization based on recommendations from the internal auditors
• Executive managers who direct the overall activities of the organization, including ensuring that risks are appropriately managed
• Members of the organization’s board who take decisions on behalf of the organization and in the organization’s best interest
• Accountant responsible for managing the treasury of the organization and preventing fraudulent financial activities
• Financial analysts who project the position of the organization based on available financial information
• Employers and other professionals with open positions involving risk management
• Any other person willing to take up a career in risk management

What are the course objectives?

The Certification in Risk Management Assurance (CRMA) Training Course has been carefully curated to achieve the following objectives at the end of the course. Hence, participants should be able to:

• Develop a sufficient understanding of the risk management process and its operation in organizations
• Develop needed expertise needed for identifying risks, vulnerabilities, and threats
• Offer assurance on crucial business processes involving governance and management of risk
• Sensitise audit committee and management on risk and the concepts of the management of risk
• Emphasize important organizational risks and recommend measures to mitigate such risks effectively
• Contribute significantly to the process of drafting risk management teams and committees and working with the board of the organization
• Acquire the expertise to develop a tailored, comprehensive risk management strategy and framework

How will this course be presented?

This Rcademy’s course on certification in risk management assurance training has been tailored to the participants’ needs to ensure active inclusion throughout the program. As a result, professionals teach the course training in a relatable and presentable manner. The training also includes ideas for participant engagement, such as role-playing, group activities, presentations, and various other educative activities. Participants will also get the opportunity to debate real-life scenarios, which will assist in making the course more relevant to the subject.

The course will employ a variety of proper learning procedures and techniques to maximize comprehension of the course module’s material and context. This strategy will also improve comprehension and recall of the information presented. The training will be a well-attended and fully-engaged course in which all participants will be involved in theoretical and practical components. This training course will improve leadership skills through engaging in assessment group discussions, role-playing, crisis communication, problem-solving, and other activities.

The course is constantly updated to reflect the most up-to-date techniques and approaches. The feedback from course participants is also valuable for tailoring the course to meet the needs of the students.

What are the topics covered in this course?

Module 1: Overview of Risk Management

• Introduction to risk management
  – Definition
• Overview of the risk management process?
• Objectives of the risk management process
• Risk management approach
• Risk management personnel

Module 2: Principles of Risk Management Process

• Identifying risk in an organization’s process
• Early identification of risk
• Aligning organizational goals and objectives
• The cycle of risk review
• Managing risk within the context
• Involving stakeholders

Module 3: Risk Presence in the Organisation

• Types of risk
  – Business risk
  – Non-business risk
  – Financial risk
• Risk culture of an organization
• Organization’s risk tolerance
• Organization’s capacity
• Organization’s risk appetite

Module 4: Organisational Governance

• Identifying risk in an organization’s process
• Financial risk
• Strategic risk
• Reputation risk
• Liability risk
• Business interruption risk
• Security risk
• Organizational governance model

Module 5: Internal Environment and Organisation’s Risk Management

• Enterprise risk management
• Internal environment
• Objective setting
• Internal controls
  – Segregation of duties
  – Physical control
  – Policies and procedures
  – Transaction reviews
• Event identification

Module 6: Internal Factors and Risk Management

• Internal control framework
  – Control environment
  – Risk assessment
  – Control activities
  – Information and communication
  – Monitoring
• Internal capabilities
• Third-party management relationship
• Internal stakeholders’ expectations
• Internal policies and regulations

Module 7: External Environment and Organisation’s Assessment of Risk

• Elements of the external environment and risk management
• External influencing factors
  – Economic environment
  – Legal environment
  – Competitive environment
  – Technological environment
  – Social environment
  – Global environment
• External stakeholder’s expectations on risk management

Module 8: Key Responses to Risk

• Risk response strategies
  – Risk avoidance
  – Risk acceptance and sharing
  – Risk mitigation
  – Risk transfer
• Developing mitigation plans
• Monitoring response strategy
• Risk management reporting
• Risk management process review

Module 9: Internal Auditor’s Assurance Role

• Overview of internal auditor role
• Types of audit
  – Information technology audit
  – Operation audit
  – Performance audit
• Internal vs external auditor
• Duties of internal auditor
• Assurance