Utah Nonprofit Association: Risky Business: Navigating Through the Risks in Your Nonprofit
Thursday, January 19, 2012 9:00am – 11:00pm
Every organization has risks ranging from strategic, hazard, operational, reputational, technological, human capital, financial….etc. With every risk, there is a potential upside or downside consequence. Not all risk taking is bad, but it can be challenging for an organization to decide which risks they can deal with, which risks they should avoid, and which risks they are not even aware of. This workshop will show you the basic steps of taking inventory of all your risks, assessing their impact to your organization, and how to implement controls and a contingency plan for your risks. Focus Area: Executive Leadership & Governance
Information & Registration:
Date / Time: January 19, 2012 9:00 – 11:00 a.m.
Location: Utah Nonprofits Association, 231 East 400 South, Suite 345, Salt Lake
Cost: $24 UNA member / $48 nonmember
Brigham Young University’s Marriott School of Business
Thursday January 26, 2012, 2:00 pm-2:50 pm in the Tanner Building
Overview of Enterprise Risk Management-In the last ten years, Enterprise Risk Management has received more attention from Corporate America and some public entities. ERM’s systematic approach in identifying risk exposures helps everyone within the organization make better strategic decisions because risks are more clearly defined. Though still in its infancy stage with many organizations across the country, more and more organizations are looking to ERM as a way to improve the strategic decision making of an organization by addressing strengths, weaknesses, threats, and opportunities ( SWOT Analysis ) in a way that integrates risk management and the strategic planning process.
Society of Risk Management Consultants: Success Stories of Organizations Using ERM
Friday March 23, 2012 1:00 pm-3:00 pm at the Oxford Hotel in Denver
In the last ten years, we have seen an increasing risky landscape unfold from the global economic crisis, volatility in supply chains, new competition, and budget constraints. New risk management regulations have appeared such as SEC 33-9089 requiring board of directors of publicly traded companies to have risk oversight responsibilities to Dodd-Frank Section 165 requiring risk committees to be formed among financial institutions and nonbanks with $10 billion in assets. Meanwhile, the major credit agencies are asking nonfinancial companies to provide evidence that their ERM processes and resources are effective and in line with their senior management ‘s strategic goals. This presentation will explore those organizations that are taking a proactive approach to implementing Enterprise Risk Management into their organizations and the benefits they have received from doing so.
University of Utah’s Professional Development Center: Strategic Risk Management: The Value of Enterprise Risk Management in Strategic Planning
Wednesday March 28, 2012 9:00 am-5:00 pm
The strategic decisions that you participate in shape the direction and success of your organization. Having the ability to make effective critical decisions is a valuable and crucial skill that helps make managers indispensable. Part of the decision-making process in strategic planning should be assessing your organization’s appetite for risk-taking activities. Using an Enterprise Risk Management (ERM) approach with strategic planning ensures that all stakeholders are made aware of the existing and emerging risks within the organization, helps the organization understand their risk tolerance levels and allows them to better understand the interrelationships of risks both within and outside the organization. This workshop will explore case studies of organization’s that have successfully implemented Enterprise Risk Management (ERM) into their strategic plans and the benefits they have received in doing so.
Risk and Insurance Management Society’s Annual Conference: ” A New Model of Board Risk Governance”
Wednesday, April 18th 3:15 pm-4:30 pm in Philadelphia
On August 3, 2010, General Motors had an Investment Fund Committee, which was dissolved and ultimately replaced with a newly created board level Finance and Risk Policy Committee. This new committee focuses on two major objectives. Under the finance section of the charter it focuses on the financial policies, strategies and capital structure. In the risk management section of the charter, it focuses on the company’s risk management strategies and policies, including overseeing the management of market, credit, liquidity, and funding risks. The composition of the Finance and Risk Policy Committee is comprised of the CEO, Vice President of Strategy and Business, Head of the Audit Committee, Head of the Executive Compensation Committee and an independent. By doing this, GM is coordinating all risk information necessary to permit them to fulfill their duties and responsibilities with respect to oversight of the risk assessment and risk management. GM will discuss this process in more detail and give examples on how GM has tied its risk oversight directly to strategy, audit and executive compensation.
