Risk Governance and Internal Controls Course

Introduction

In an increasingly complex and uncertain business environment, organizations must establish strong risk governance frameworks and internal control systems to safeguard assets, ensure regulatory compliance, and enhance operational efficiency. Effective risk governance ensures that organizations proactively identify, assess, and manage risks while maintaining transparency and accountability at all levels.

The Risk Governance and Internal Controls course provides a comprehensive understanding of risk management principles, governance structures, and the internal control mechanisms essential for mitigating risks. This course explores the role of corporate boards, senior management, and risk committees in establishing a robust risk culture and implementing frameworks such as COSO (Committee of Sponsoring Organizations) and ISO 31000.

Participants will gain insights into the key components of an effective internal control system, including financial controls, operational controls, IT security, and fraud prevention strategies. Through case studies, practical exercises, and expert discussions, learners will develop the skills needed to assess risks, implement control measures, and strengthen governance practices.

Whether you are a board member, executive leader, compliance officer, or risk management professional, this course will equip you with the knowledge and tools to enhance organizational resilience and decision-making in a risk-conscious environment.

Course duration

5 days

Who should attend?

This course is designed for:

·         Board Members and Executives

·         Risk Management Professionals

·         Internal and External Auditors

·         Compliance Officers and Legal Professionals

·         Finance and Accounting Professionals

·         Operational and IT Managers

·         Corporate Governance and Ethics Officers

Course Objectives

·         Define risk governance and its role in corporate strategy and decision-making.

·         Identify the responsibilities of boards, executives, and risk committees in managing risks.

·         Explore governance frameworks such as COSO, ISO 31000, and regulatory guidelines.

·         Recognize different types of risks (financial, operational, compliance, strategic, and reputational).

·         Analyze risk assessment methodologies and tools for evaluating risk exposure.

·         Understand the impact of external and internal factors on risk management.

·         Understand the components of an effective internal control system.

·         Learn how to design and implement financial, operational, and IT controls.

·         Identify weaknesses in internal controls and strategies for remediation.

·         Review key legal and regulatory requirements related to risk governance.

·         Understand the role of internal audits, external audits, and compliance monitoring.

·         Address corporate accountability and reporting obligations.

·         Integrate risk management into corporate strategy and daily operations.

·         Foster a risk-aware culture within the organization.

·         Improve transparency, accountability, and ethical decision-making.

·         Develop risk response and mitigation strategies.

·         Create contingency plans and crisis management frameworks.

·         Learn lessons from real-world case studies on risk failures and successes.

Course outline

Module 1: Introduction to Risk Governance

• Definition and importance of risk governance
• The role of risk governance in corporate strategy
• Key governance structures: boards, risk committees, and management oversight
• International risk governance frameworks (COSO, ISO 31000, Basel, etc.)

Module 2: Understanding Organizational Risks

• Types of risks: financial, operational, strategic, compliance, and reputational
• Identifying internal and external risk factors
• Risk assessment methodologies: risk appetite, risk tolerance, and risk impact analysis
• Case studies on corporate risk failures and lessons learned

Module 3: Internal Controls and Risk Mitigation

• Fundamentals of internal controls and their role in risk management
• The COSO Internal Control Framework
• Designing and implementing effective financial, operational, and IT controls
• Monitoring and evaluating internal controls for continuous improvement

Module 4: Regulatory Compliance and Corporate Accountability

• Key regulations and compliance requirements in risk management
• The role of internal and external audits in risk governance
• Anti-fraud measures and financial integrity
• Ethical leadership and accountability in risk governance

Module 5: Enterprise Risk Management (ERM) Frameworks

• Integrating risk management into business strategy
• The risk management lifecycle: identification, assessment, response, and monitoring
• Business continuity planning and crisis management
• Real-world applications of ERM in various industries

Module 6: IT Risk Management and Cybersecurity Controls

• Understanding cybersecurity threats and IT risks
• Implementing IT governance frameworks and data protection controls
• Managing risks in digital transformation and emerging technologies
• Best practices for cybersecurity risk mitigation

Module 7: Risk Monitoring, Reporting, and Decision-Making

• Developing key risk indicators (KRIs) and performance metrics
• The role of risk reporting in board-level decision-making
• Communicating risk effectively across the organization
• Tools and technologies for real-time risk monitoring

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: training@upskilldevelopment.com Tel: +254 721 331 808

Training Venue

The training will be held at our Upskill Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Upskill certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: training@upskilldevelopment.com, +254 721 331 808

Terms of Payment:

Unless otherwise agreed between the two parties payment of the course fee should be done 3 working days before commencement of the training so as to enable us to prepare better

Online/ On-site (Nairobi, Kenya) Training Schedule