Education / Course Details
Risk Metrics for Everyone
Practical guidance on using risk metrics to monitor change and inform decisions.
About this course
Risk metrics play a critical role in helping organisations dynamically monitor risk and respond to a constantly changing environment. To be effective, risk metrics must be grounded in real business and risk data gathered from across the organisation and translated into meaningful insights for decision-makers.
While you may be responsible for collecting or reporting on specific risk metrics, these activities are only a means to an end. When designed and used well, risk metrics provide early warning signals, highlight emerging trends, and prompt timely action. This course focuses on how risk metrics can be used to support informed decision-making and highlights the pivotal role people play in an effective risk metrics process.
Course specifics
Audience: This course is suitable for risk professionals, business managers, control owners and anyone involved in developing, collecting, reporting or using risk metrics within their organisation.
Cost: $99.00 (members), $120.00 (non-members)
Facilitator: The Protecht Group
Format: On-Demand
Time: 20-minutes of video content
CPD Points: 1
Course Facilitator:
The Protecht Group
Course details
This course breaks down KRIs and how they can help you spot potential risks before they become problems. You’ll learn how to develop KRIs that fit your organisation, measure and monitor risks like a pro, and integrate these indicators into your existing risk management strategy. Packed with real-world examples, it’s all about making risk management straightforward and effective. Join us and take your skills to the next level.
Key topics covered:
What are risk metrics and why do we need them?
The components of risk
The three main types of risk metrics:
Key Performance Indicators (KPIs)
Key Risk Indicators (KRIs)
Key Control Indicators (KCIs)
The purpose and value of risk metrics
2. Roles in a risk metrics process
Ownership of individual metrics
Ownership of the overall risk metrics process
Understanding report recipients and their information needs
3. Key steps in a risk metrics process
Tools for gathering risk metrics
Scaling and calibrating risk metrics
Setting appropriate frequency for individual metrics
Establishing the cadence of the risk metrics process
Improving the risk metrics process, including:
Characteristics of good risk metrics
Challenging existing metrics
Avoiding and addressing complacency
Learning outcomes:
Understand what risk metrics are and why they are essential to effective risk management
Distinguish between key performance indicators, key risk indicators and key control indicators
Identify the roles and responsibilities involved in a risk metrics process
Apply practical steps to design, collect, scale and review risk metrics
Recognise the characteristics of effective risk metrics and challenge complacency in existing measures