Introduction

Over the past few decades, Human Resource leaders have begun to recognize the effect of risk on their organizations’ strategic success and, even, their survival. The ability to identify risks, especially emerging risks, is a critical competency of Human Resource leaders, especially when linking it to HR’s mission of supporting better senior management decisions and more effective decision-making.

At the same time, organizations are most effective at dealing with regulatory compliance and less effective at dealing with the strategic aspects of risk and, most importantly, connecting risk management to strategic success.

To be effective, risk management must have a broader approach, including strategic planning risks and the risks created by daily operations. A constant in today’s corporate culture is change. With change comes an increase in risk. It is imperative that today’s Human Resource professionals have an awareness and understanding of these risks.

Course Objectives

• The context of risk both internally and external. Understanding the external environment, defining risk appetites, and setting risk goals
• How to identify and analyze risks as the first phase of risk management. The types of risks an organization must manage and the tools it can use to identify these risks, analyze them to understand their significance and potential impact, and prioritize
• To examine the tactical levels of risk management and the various approaches to managing both the upside and the downside of risk
• How to evaluate and audit risk management policies and processes as well as report on their implementation and assess the effectiveness of the organization’s governance structure

Target Audience

• Employment Managers
• Employee Relations Professionals
• Chief Talent Officers
• HR Coordinators / Supervisors
• Risk Managers and Professionals
• HR Administrators
• HR Analysts
• Auditors

Course Outline

Day 1: Establishing the Context of Risk

• Focusing Risk Management -The Role of HR in Risk Management
• Defining Risk
• Benefits and Barriers to Risk Management
• Categories of Risk
• ISO Principles, Framework, and Process
• Risk Criteria

Day 2: Identifying and Analyzing Risk

• Risk Assessment Phase
• Identifying Risks
• Risk Identification Approaches
• Risk Analysis Tools - Analyzing Risks
• Evaluating Risks
• Key Risk Indicators
• The Risk Register

Day 3: Managing Risks

• Responses to Upside and Downside Risks
• Implementing the Risk Management Plan
• Defining Risk Management Performance Objectives
• Emergency Preparedness and Business Continuity
• Crisis Management Planning and Readiness Process

Day 4: Evaluating Risk Management

• Providing Oversight to the Risk Management Plan
• Evaluating the Effectiveness of Risk Management Policies and Processes
• After-action Debriefs and Incident Investigations
• Evaluating Compliance
• Promoting Quality Assurance and Continuous Improvement

Day 5: Human Capital Risk

• Critical Skills Shortage
• Insurance and Data
• Ethics and Behavior
• Intellectual Property Risk
• Compliance and Regulation
• Supply Chain Risk
• Cybersecurity