Mr Eric Odoom; & Mr Harris Yemoh Presentation (Part 1) for the Award of Diploma – Postgraduate – in Enterprise Risk Management (Double Credit), at HRODC Postgraduate Training Institute – Wolverhampton UK – London UK. The course contents include: 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 Reinsurance or Syndication Reinsurance Loss Splitting Reinsurance Prorata Loss Splitting $500,000 LOSS Reinsurance Excess-of-Loss Loss Splitting Reinsurance and Risk Management Reinsurance Providers Due Diligence Investigation What Is a Due Diligence Investigation?; Applications of Due Diligence; Inclusions in Due Diligence Investigations. Part 5 FINANCIAL EXPOSURE AS RISK Foreign Exchange Exposure Foreign Exchange Exposure vs. Foreign Exchange Risk Three Types of Foreign Exposure Economic Exposure Economic Exposure Channels of Economic Exposure Two Types Of Economic Exposure Asset Exposure Operating Exposure An Illustration of Operating Exposure Some Strategies To Manage Operating Exposure Selecting Low Cost Production Sites Flexible Sourcing Policy Diversification of The Market R&D; Efforts and Product Differentiation Financial Hedging To Hedge or Not To Hedge? Hedging Strategies Management of Economic Exposure How To Measure Economic Exposure Transaction Exposure Some Strategies To Manage Transaction Exposure Hedging Through Invoice Currency Hedging Via Lead and Tag Translation Exposure Translation Risk Perception and Calculation Part 6 FINANCIAL RISK AND UNPREDICTABILITY: UNCONTROLLABLE ENVIRONMENT ISSUES Asset Behaviour and Pricing Implication Video - Asset Management Video – Sovereign Wealth Fund Video – Basel 3 Credit and Counterparty Risk The Legal and Political Risk Environment Risk as an Economic Factor Technological Risk Factor Risk Associated with Socio-Cultural Changes Part 7 BUSINESS CONTINUITY: DISASTER RECOVERY PLANNING Business Continuity Planning (BCP) What is Business Continuity? What is Business Continuity Planning? Disaster Recovery Planning Disaster Defined Types of Disasters Effects of Disasters Effects of Disasters – Internal Effects of Disasters – External Business Continuity Planning Disaster Recovery Planning Why Plan? Establishing the Team Getting Management Support Need for Departmental Support Team Members DR Team Sub-Teams Characteristics of Team Members External Team Members Notification Directory Securing/Preparing Resources Team Tasks Defining Risk Choosing Assessment Method Matching Response to Threat Setting Priorities Using Risk Assessment Results Disaster-based Risk Assessment Asset-based Risk Assessment Business Impact Business Impact Analysis OCTAVE Risk Assessment Identifying Critical Assets Business Functions Business Processes Identifying Functions/Processes Prioritizing DR Planning Efforts Determining What to Recover When Conducting Dependency Analysis Disaster Declaration Criteria Data Backup Information as Asset Recovery Site Alternatives Recovery Site Agreements Recovery Site Selection Criteria Design Recovery Solution Documents Needed by DR Team Contact Information Needed Evaluate Support Emergency Operations Center Create Data Backups Create the Recovery Plan Upstream Relationships Downstream Relationships Directing the DR Team Steps After Recovery Emergencies during DR Identify Gaps in DR Plan Identify DR Risks Rehearsing the DR Plan Applying Change Control Manage/Document the DR After the DR Test Threat Determination Threat Classification Addressing Threats

• published: 25 Jul 2014
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