Risk Management for Line 1 (Global)

For risk management to be effective, it needs to be embedded as part of day-to-day activities – not something separate. In this training we cover the role of Line 1 in risk management, what ‘Line 1’ really means, the key risk management processes Line 1 may be involved in, and the skills and behaviours required to achieve organisational objectives.

Course description

In this course, you’ll learn:

1. Defining Your Role as Line 1

• An overview of the 3 Lines model
• Introduction to risk and objectives
• Introduction to roles and responsibilities
• Everyone as a risk manager
• Risk and control ownership

2. Why do we need risk management?

• Perceptions of risk and risk management
• Definitions of risks
• The main types of risks
• Risk management as an enabler

3. Objectives of Risk Management

• Protection
• Pursue opportunities
• Make better decisions
• A practical example
• What’s in it for you?

4. Understanding Risk

• Components of risks
• Introduction to risk bow ties

5. Understanding Controls

• Definition of controls
• Types of controls
• How controls modify risk

6. How to Manage Risks

• Informal risk management
• Formal risk management
• Key risk processes:
  • Risk and control self-assessment
  • Risk metrics
  • Incident Management
  • Risk Treatment
  • Controls Assurance
  • Compliance Management
  • The definition of risk and objectives
• Introduction to roles and responsibilities
• Everyone as a risk manager

7. When Do We Manage Risks

• Effect of risk velocity on risk management cadence
• Integrating risk into day-to-day activities
• Essential Line 1 Skills & Behaviours
• Key Skills of Line 1
• Desirable risk behaviours

Course expectations

• Watch 23 videos
• Answer 5 knowledge questions
• 1 x Interactive example
• Answer 10 quiz questions

Time

• 3 hours of video content
• 3.5-4 hours for the whole course