Education / Course Details
Risk Management for Line 1
Explore how Line 1 staff can excel in their role and contribute to effective risk management.
About this course
Designed specifically for Line 1, this course covers essential risk management concepts and provides practical training on how Line 1 can excel in their role and contribute to effective risk management. For risk management to be effective, it needs to be embedded as part of day-to-day activities - not something separate.
Course specifics
Audience: Line 1 staff or any other individuals in your orgainsation who require fundamental knowledge of risk management principles.
Cost: $429.00 (members), $495.00 (non-members)
Facilitator: The Protecht Group
Format: On-Demand
Time: 4-hours of video content
CPD Points: 5
Course Facilitator:
The Protecht Group
Course details
In this training we cover the role of Line 1 in risk management, what 'Line 1' really means, the key risk management processes Line 1 may be involved in, and the skills and behaviours required to achieve organisational objectives.
Key topics covered:
1. 1. Defining Your Role as Line 1
An overview of the 3 Lines model
Introduction to risk and objectives
Introduction to roles and responsibilities
Everyone as a risk manager
Risk and control ownership
2. Why do we need risk management?
Perceptions of risk and risk management
Definitions of risks
The main types of risks
Risk management as an enabler
3. Objectives of Risk Management
Protection
Pursue opportunities
Make better decisions
A practical example
What’s in it for you?
4. Understanding Risk
Components of risks
Introduction to risk bow ties
5. Understanding Controls
Definition of controls
Types of controls
How controls modify risk
6. How to Manage Risks
Informal risk management
Formal risk management
Key risk processes:
Risk and control self-assessment
Risk metrics
Incident Management
Risk Treatment
Controls Assurance
Compliance Management
The definition of risk and objectives
Introduction to roles and responsibilities
Everyone as a risk manager
Risk and control ownership
7. When Do We Manage Risks
Effect of risk velocity on risk management cadence
Integrating risk into day-to-day activities
Essential Line 1 Skills & Behaviours
Key Skills of Line 1
Desirable risk behaviours
Learning outcomes:
Understand the Role of Line 1 in Risk Management
Gain an overview of the 3 Lines model, including an introduction to risk and objectives, roles and responsibilities, and the concept of everyone as a risk manager with ownership of risk and control.Comprehend the Objectives and Importance of Risk Management
Learn about the perceptions of risk and risk management, definitions of risks, the main types of risks, and how risk management serves as an enabler for protection, pursuing opportunities, and making better decisions.Acquire Skills for Managing Risks Effectively
Understand the components of risks, the definition and types of controls, and how controls modify risk. Learn both informal and formal risk management processes, including key risk processes such as risk and control self-assessment, risk metrics, incident management, risk treatment, controls assurance, and compliance management.