Risk and Insurance Managers Society of Nigeria (RIMSON), in association with Conrad Clark (CCN Ltd) is set to organise a 2-day Advanced Risk Management course for Directors, Executives, Senior Managers and key decision makers of companies in the country.

In a statement to Vanguard, the course is to give them practical tools to assist in the process of embedding an effective measurable risk management culture.

According to the statement, the two days will cover at least key risk management standards, principles, requirements and global trends; framework for managing risk; strategy, policies, procedures, competences & tools; key regulatory requirements in Nigeria; analysis of risk categories; credit, market, liquidity, Insurance, operational and group risks. Also, each delegate will be taught how to identify, accurately describe, analyse and evaluate a risk; application of both quantitative & qualitative risk assessment tools and techniques; risk modeling techniques and the uses/importance of Risk Appetite Statements, limits/tolerances.

RIMSON stated that risk management is recognised as an essential contributor to business and project success, since it focuses on addressing uncertainties in a proactive manner in order to minimise threats, maximise opportunities, and optimise achievement of objectives. Despite several attempts at implementing effective risk management processes, in practice managements often fail to meet expectations, as demonstrated by the continued history of business and project failures.

Foreseeable threats materialise into problems and crisis, and achievable opportunities are missed leading to lost benefits. Clearly the mere existence of accepted principles, well-defined processes, and widespread practice is not sufficient to guarantee success. Some other essential ingredients must be missing.

The course led by Joachim Adebayo Adenusi, an inspirational enterprise risk professional will take place on May 31 and 1st at the NECA House, Lagos.