Enterprise Risk Management: Practical Applications

10 Credits: Finance


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Enterprise Risk Management: Practical Applications

Course Level
CPE Credits

10 Credits: Finance

Course Description

This in-depth course offers a comprehensive look into Enterprise Risk Management, a crucial element for any well-run business. It features key concepts of risk management, including the identification, prioritization, and response to various risks. Participants will benefit from learning how to integrate risk management into both strategic planning and day-to-day operations, encompassing areas such as treasury, accounting, sales, marketing, and more. The course provides insights into contingency planning, the uses of surety bonds, and strategies for mitigating risks in marketing, HR, and IT. Additionally, it covers crucial aspects like emergency employee notification systems, insurance contract nuances, and risk incorporation in financial decision-making. This course is particularly beneficial for professionals seeking to enhance their organization’s risk management strategies and build a resilient business model.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the benefits of risk management, the circumstances under which an organization can retain risk, the characteristics of an enterprise risk management system, and the contents of an organization’s risk profile.

Chapter 2

  • Note the contents of a credit rating system, and the circumstances under which operational hedges, forward contracts, payment netting, call options, and interest rate swaptions are used.

Chapter 3

  • Identify the risk mitigation efforts that can benefit from centralized marketing management and product testing, as well as the tactics used to mitigate the risk of false marketing claims.

Chapter 4

  • Specify the uses of surety bonds, as well as the available risk mitigation alternatives for late deliveries.

Chapter 5

  • Recognize the alternatives available to reduce the risks of insufficient capacity.

Chapter 6

  • Identify the risk-related benefits of offering a richer benefits package to employees, as well as the options available for offsetting a decline in employee morale.

Chapter 7

  • Identify the uses to which multiple scenario modeling and internal audits can be put, as well as how to reduce the risk of issuing financial statements that contain errors.

Chapter 8

  • Recognize which risk can be reduced by the use of a hot site, and the risk represented by portable storage media.

Chapter 9

  • Specify the risk mitigation tactics related to political risk and alliance risk.

Chapter 10

  • Identify the employee notification systems that can be used in the event of an emergency, which forms of communication are the most effective, and which issues with employees may arise immediately after a disaster has occurred.

Chapter 11

  • Recognize the reasons why deductibles and co-pay are included in insurance contracts, the issues with all-perils coverage, and the circumstances under which reimbursement occurs under business interruption insurance.

Chapter 12

  • State how risk should be incorporated into analyses involving pricing, dividends, capital budgeting, and research & development.

Chapter 13

  • Identify the uses to which risk-related reports can be put, the types of leading indicators, and how to evaluate credit ratings.
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Course Specifics

Course ID
Revision Date
August 8, 2023

There are no prerequisites

Advanced Preparation


Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …