FoRM 6: Risk Treatment Course

Risk treatment refers to when a firm applies risk controls and other strategies in response to risk.

Selecting the most appropriate risk treatment options involves balancing the potential benefits derived from enhancing the achievement of objectives against the costs, efforts or disadvantages involved in the proposed actions.

Our Risk Treatment course will help you learn how to respond to various types of risks and how they can be treated to minimise their negative probability and impact.

About this Course

Available as part of our Risk Management Library.

Learning objectives

Understand how risk treatment as a process fits into the broader risk management framework
Apply various types of risk treatment options depending on the type of risk
Understand the importance of risk controls and how to implement them

Course Contents

Welcome

- Learning objectives
- How to complete this course

What is risk treatment?

- The Management of Risk (M0R) framework

How should we respond to risk?

Inherent versus residual risk

Selecting the most appropriate risk treatment option

Risk acceptance

- Example: Risk acceptance

Risk transfer

- Example: Risk transfer

Implementing risk controls

- You decide: Implementing risk controls

Contingency planning

- Examples: Contingency planning

Terminating activities that result in risk

Roles of business continuity & operational resilience in risk treatment

Benefits of risk controls

- You decide: What are examples of risk controls for different types of risks?

What is a risk control environment?

- What is a risk control appetite?
- What are the different types of risk controls?

Risk treatment & the Three Lines of Defence (3LoD) model

Role of the board of directors in a risk control framework

- You decide: What are the board of directors' responsibilities?
- Additional committees on the board of directors

Role of senior management in the risk control framework

Role of the first, second & third LoD in the risk control programme

What role should cost-benefit analysis (CBA) play in risk treatment?

How should a company then implement its risk response?

Importance of duty segregation when implementing risk controls

- You decide: Conflicts of interest that can impede risk control implementation

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 40-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.