Preparing a Qualitative Risk Management Dashboard for your Board GRC process

Why Should You Attend:

The GRC responsibilities in risk management include transparency and communication to senior managers and Boards and Board Committees. Senior risk managers and their staff participate in the process of reporting the risk profile of the firm to the Board and committees, usually through dashboards. The visual impact of a clear dashboard is dramatic and attracts the attention of the target audience, but many dashboards and scorecards currently in use are I.T. driven and complex. These complex utilities can be excellent tools, yet demand time and resources.

This webinar is both about the product – a clear and concise dashboard – and the process of having responsible managers report the risk status of their area of responsibility in a short and efficient time frame. All managers who are a part of the process will benefit from the course and help assure quality reporting. A fundamental benefit of this course is the installation of the concept of responsibility reporting. Systems can generate numbers, but a qualitative exercise of this nature will add the subjective overview of responsible managers.

Areas Covered in the Webinar:

• Qualitative dashboards as a reporting device
• Critical risk indicators
• The process to establish critical elements
• ERM risk elements
• Market risk elements
• Operational risk elements
• Asset quality risk elements
• Liquidity risk elements
• Making the dashboard current and dynamic
• Setting the process for revisions and upgrades

Note: Technical handouts and references will be distributed during the webinar

Who Will Benefit:

• Risk Managers
• Compliance Officers
• Audit Officers
• Board Risk Committee Members
• Chief Financial Officers
• New Risk Officers
• Administrative Managers
• Regulatory Compliance Associates and Managers

Instructor Profile:

Kurt Kendis, an international economist with 30 years’ experience in multinational organizations, Kurt Kendis has worked as a strategist, analyst, and consultant for boards, senior managers, and executives worldwide. With a background in academia, he is currently Managing Director at The Banking Group. His subject matter expertise is global strategic management, multinational risk, executive and board development, and capacity building in emerging markets’ institutions. Mr. Kendis has developed a unique approach to problem-solving, where actual data is used to project alternative scenarios for senior managers’ consideration.

For global institutions , Mr. Kendis provides research, consulting and seminar services in the areas of Risk, Strategy and Planning, Governance, Operational Risk, and Innovation. Recently Mr. Kendis's engagements have been global. Work in Latin America, Africa, Asia and the subcontinent has expanded to Central Banks and accountancy firms as well as local and global companies.

Topic Background:

A qualitative dashboard first selects the domains to be evaluated and then the elements to be included in the dashboard. Each element has a manager responsible for that area. The direction indicated is the view of that manager in charge. The view in the dashboard is that of the manager responsible, and underlying data and reports are offered (but not a direct driver) with interactive links to data and documents updated by the managers. The process is intended to be short and use minimal resources.

Risk Management professionals recognize the extraordinary complexity which exists and builds in the evaluation of level of risk and exposure. Regulators and practitioners have developed elaborate KRI’s (key risk indicators) for companies, but the purpose of this course is the development of a clear and concise overview of the risk profile of the company, with detail available in the background.

Many managers are conditioned to present KPI’s (key performance indicators) to senior management. The preparation of the dashboard has the advantage of selecting, developing and presenting KRI’s for the organization. A proper process and format shows, visually, the relative risk profiles of critical risk elements for the business and organization and updates the status with the responsible mangers’ views.

The process of first developing the dashboard and then communicating the status to the Board will both build the risk management culture and sensitize those ultimately responsible for GRC to the critical risk management issues in an efficient manner. Data and reports linked to the dashboard for those who want a deeper set of information, is embedded within the dashboard without cluttering the format. Those who organize and report risk as part of the risk transparency process will benefit from this approach.

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