Feedback from ERM Sessions – Online


Online Risk Management Course – Assessment

The online risk management courses I offer through Risk and Insurance Management Society includes How to Conduct High Quality Risk Assessment, which, in the first two years of its running, got an approval rating (“would recommend this course to others”) of 88%.  Some of the positive feedback stating “the most beneficial aspects” is as follows:

 

Setting the context, and the steps involved and reasons to perform a facilitated risk ID and assessment were the most helpful. The risk register is fantastic as well.

I found the aspect of setting up the context the most beneficial.

The details of the context paper and organizing the roundtable sessions.

Examples of risk statements, and the risk management tools and templates.

Risk register template. YouTube videos were very good.

The course seem to attract, naturally, people mostly in commercial insurance as well as audit and financial control risk management roles. These are people who are being challenged by their clients and employers to embrace Enterprise Risk Management – this is their new charge. What does that imply?

It means that they must consider the entire spectrum of risks in a given situation, and comprehensively identify them. It means they must train others in different domains, either within either the organization, in the supply chain or in client groups, to manage the risks that fall within their respective purview. It means, too, that they are responsible for much more than managing exposures to assets. They must contribute to the conceptualization of strategic plans and the implementation of policy.

Suggestions for New Topics

Online course participants seem to want particular advice reflecting their particular lines of business. For example, consider this list of requests for new material from the course feedback:

Specific insurance coverages
Cyber security mitigation strategies
First party claims
ERM risk management planning
Operational risk
Risk management in the energy field
Establishing risk tolerance
Marketing risks
Property and casualty insurance
Etc.

Well, to start, I have addressed risk tolerance in several blog posts. For example:

What is Risk Tolerance?
How to Define Risk Tolerance: 3 Mini-Case Studies
Risk Tolerance in Non-Financial Contexts

In a few more cases, I have been able to respond with online offerings and blog posts. I will explain these in detail in my next post (May 17) Requests for Risk Management Case Studies. I will also report the criticisms and suggestions for improvement to the online risk management course How to Conduct High Quality Risk Assessment.

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