Award Presentation Mr Eric Odoom; Mr Harris Yemoh; Mr Samuel Ofosu at Diploma -- Postgraduate -- in Enterprise Risk Management, (Double Credit), HRODC Postgraduate Training Institute Wolverhampton UK. Course contents include: Part 1 UNDERSTANDING RISK AND RISK MANAGEMENT Defining and Contextualising Risk Defining Risk; Contextualizing Risk; Formulating Risk Statement; Perception And Calculation; Understanding Risk In An Organisation Model Towards Understanding Risk; Enterprise Risk Management; Risk -- Classification. Pertinent Issues in Enterprise Risk Management Risk in Enterprise Risk Management; Identification of Type of Risk; Level of Risk; Property Risks; Valuing Property; Liability Legal Grounds; Liability Risks; Torts - An Insurance Categorization; Establishing Negligence; Types of Damages; "Res Ipsa Loquitur"; Defenses in a Negligence Suit; Human Resource Risks; Review and Update. The Risk Management Process Sequencing The Process STEP 1: Risk Identification and Categorization STEP 2: Risk Quantification Example Of Impact And Definitions STEP 3: Risk Strategies Identification 4 Categories of Risk Strategies (Countermeasures) Accept Manage Contingency plan Reduce Risk Strategies Risk Acceptance Risk Management Contingency Planning Risk Reduction Risk Transferring Insurance Example of Insurance Risk Reduction Control STEP 4: Implementation Of Strategies Residual Risk The Risk Register STEP 5: Monitoring And Reviewing Results Of Risk Mitigation Measures Continuous Risk Management (CRM) Risk Assessment And Manifestation Of Reality Crawford's Risk Analysis And Base 10: Probability vs Risk Magnitude Part 2 FINANCIAL RISK ASSESSMENT Conducting a Financial Risk Assessment. The Process of Financial Risk Assessment (1); Products of a Financial Risk Assessment. Expand; Contract; Pursue External Growth; Grow Organically; Enter Joint Venture; 'Go-It-Alone'. Formal Risk Assessment Techniques and Measurements: Conditional Value at Risk- CVaR; Loan-to-Value Ratios; Credit Analysis; Credit Rating; Credit Rating Agencies. Financial Risk Assessment and Manifestation Reality: Richter Earthquake Magnitude Scale; Crawford's Risk Analysis and Base 10: Probability VS 'Risk Magnitude. Managing Financial Exposure Risk; Risk Management Tools: Forward Contracts; Option Contracts; Futures Contracts; Corporate Governance; Diversification. Managing Risk With Forward Contracts Forward Contracts: Payoff Profiles Profits for Forward Contracts Financial Method Of Measuring Risk Standard Deviation Beta Alpha Treynor Index Style Analysis R-squared Quantifying Financial Risk Interest Rate Derivatives Market Equity Risk Identifying and Measuring Currency/Exchange Rate Risk Measuring Currency or Exchange Rate Risk Part 3 RISK, NATIONAL INSURANCE AND SOCIAL SECURITY National Insurance What constitutes National Insurance?; Worker Contribution to National Insurance; Employer Statutory Contribution to National Insurance; Measures to Facilitate the Maintenance of Statutory National Insurance Contributions; Retirement Benefits; Death benefits Unemployment Benefits; Operationalising Unemployment Benefit Program: The Ghanaian Example; Problems Plaguing the Viability of National Insurance Viability: Ageing Population; Improved Longevity; Increased Unemployment; Increased PSBR; Inflation; Stagnation and Deflation. Problem Resolution and their Sustainability Social Security Provision Possible Social Security Coverage: Hospitalisation; Approved Prescription Drug; Unapproved Prescription Drugs; Simple Surgery; Complex Surgery; Financial Position of the Social Security System Operationalising of Social Security: Growing Concerns Proposed Solutions to Pertinent Problems. Part 4 RISK MITIGATION APPROACHES Risk Elimination or Avoidance Risk Mitigation: Planning, Execution and Monitoring Risk Mitigation Approaches Underwriting Standards Definition of 'Underwriting Standards' Insurance Introduction Definitions and terms Branches of Insurance - Successful transactions Building Blocks of an Insurance Premium Mathematical Basis for Insurance -- Example Additional Concept: Costs to Society Insurance Benefits to Society Insurance Functionality Risk -- Classification Benefits Compared to No Insurance Social or Private? Employee Benefit Plans Risk Management Process Identify Potential Loss Exposures Measure Potential Loss Exposures Risk Handling Techniques Loss Control - Reduction Loss Transfer ERM -- Integrated Framework ERM -- Recent Loss Events Agency Law Insurance Occupations Insurance Agent and Broker Agent's Authority Types of Insurance Agents Insurance Brokers Comparison of Agents and Brokers Distribution Of Insurance Property and Liability Distribution Of Insurance Life Insurance Loss Adjuster or Claims Investigator Loss Adjuster Underwriter Actuary Accountant Accounting Standard Lawyer Other Occupations Asset/Liability Management Hedging Diversification Derivatives Trading Derivative Equity Derivative Weather Derivatives

• published: 21 Jul 2014
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