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Description

Effective risk oversight is one of today’s highest priorities for boards.
 
The pandemic has reshaped the modern view of the risk landscape. While COVID-19 poses an ongoing threat, it has also accelerated and exposed other existing hazards. Cybersecurity vulnerabilities, lack of emergency preparedness, supply chain disruption, reputation risk management in the digital age, and many other internal and external dangers are forcing boards to reconsider how they oversee risk.
 
As the scope of risk oversight expands well beyond strategic and operational risks, organizations are also encountering increasing shareholder and stakeholder engagement and activism, especially as they relate to environmental, social and corporate governance. These developments require boards to be more proactive and engaged in overseeing risk management processes.
 
Developed in partnership with CPA Canada, and based on the CPA Canada’s: A Framework for Board Oversight of Enterprise Risk, Enterprise Risk Oversight for Directors will equip you with a greater awareness of the board’s role, including value creation, and how to constructively engage in the risk oversight process. Understand how to better identify and address critical risks, how risks are interconnected and recognize the potential compounding effects of risks. Expert faculty will guide you through modern-day case studies and exercises where you will apply the concepts of the framework in circumstances that organizations may face today.
 
ICD’s Enterprise Risk Oversight for Directors is designed to build directors’ skills and competencies, equipping them with the knowledge, insights and forward-thinking strategies to:

  • Fully comprehend the role of the board in enterprise risk management today
  • Identify when there is a need for more proactive and direct engagement over and above the traditional oversight of risk management processes
  • Become familiar with risk management concepts and how to apply them, including the right questions to ask of management
  • Understand and evaluate how risks interrelate and assess how this may impact the organization

Current Offerings

  •  
    City  Course Code Instructor Led Session Application Deadline
    Online RSK002 May 18, 2022,10-2pm EST    April 20, 2022

Objectives


  • Directors will gain critical insights, understandings and a toolkit for effective oversight of enterprise-wide risk. Specifically, they will:
    • Enhance their awareness of the purpose and value of enterprise risk management
    • Know how the board should effectively govern the oversight of an organization’s risk management
    • Acquire a practical framework to oversee enterprise risk, specifically designed for boards of directors
    • Implement this framework to ensure proactive risk management processes are in place and functioning effectively
    • Determine why an organization’s risk appetite and culture are essential and how to oversee them successfully
    • Understand how to identify and assess risks and assign accountabilities to mitigate corporate risk
    • Apply proven risk mitigation techniques to manage emerging risks, such as ESG related risks

Format


  • This program uses a blended online learning model that weaves together best practices in adult education with creative networking opportunities.
     
    This model includes:
     
    Independent online learning (three to five hours)
    Distinct independent learning requirements to be completed in advance of the live, instructor-led session.
     
    Comprised of an e-learning module, videos, webinars, readings, polls, discussion forums and more, independent learning enables participants to work through material at the time and pace that best suits their individual needs. It also allows for content to be broken into shorter, more digestible sections, and delivered in multiple formats to appeal to different preferences.
     
    Participants will receive access to independent learning materials approximately two weeks prior to the instructor-led session.
     
    *Note: completion of some independent learning components may require a live internet connection.
     
    Live, instructor-led session (approximately four hours)
    The instructor-led online session will focus on the application of concepts covered through independent learning. The live session will be comprised of a combination of class faculty led discussions, breakout group discussions and exercises, Q & A with instructors and other experts, simulations and cases, live polling and online chats.
     
    Supplemental resources and tools
    Participants will receive supplemental resources to augment the required components of their independent learning packages.
     
    Learning sustainment and engagement opportunities
    Following course completion, participants will be invited to join an Alumni Portal, becoming part of a community of practice where they gain access to tools and resources to help apply course learnings in real-life settings. They will also have opportunities to engage in discussion forums with course peers to exchange questions, ideas and experiences that will round out their newly acquired knowledge and skills.

Benefits


  • Contribute to a more productive, collaborative and efficient ERM oversight process, by developing practical skills and comfort in a applying a board oversight framework, and supporting tools, to various circumstances your organization may face.
    • Participants will gain the key insights, tools and understanding necessary to build their skill set and competence for effectively overseeing enterprise risk.
    • Review a practical and leading-edge framework for oversight of risk
    • Apply the framework to the most current risks facing organizations today
    • Accelerate progress in implementing a robust risk oversight process and model
    • Enhance organizational performance and create value
    Specifically, they will: 
    • Benefit from the collective knowledge and experience of a best-in-class teaching team
    • Engage with other directors in an exclusive classroom environment to foster enhanced peer to peer learning environment
    • Gain access to proprietary tools and frameworks to enhance their application of course takeaways
    • Thrive in a flexible and intuitive online learning environment designed to optimize their course experience
    • Gain access to a lively community of practice where they can share queries and insights with course peers to continue learning and networking during and after the program
    • Receive a certificate to indicate that they have successfully completed the Enterprise Risk Oversight for Directors course

Eligibility: Role In the Director Journey:


  • ​The Board Oversight of Risk is ideal for boards of directors of all industry and organization types who want to improve their navigation of enterprise risk management oversight.

Faculty


Participants will benefit from the collective knowledge, insights and guidance of a best-in-class teaching team with diverse experience across a variety of types of boards.
 

Robert (Bob) McFarlane, ICD.D Headshot

Robert (Bob) McFarlane, ICD.D

National Academic Director and Lead Instructor


Director, Economical Insurance;
Chair, Audit, Risk & Conduct Committee, HSBC Bank Canada;
Chair, UBC Information Technology Advisory Council;
Chair, Capital Assets & Finance Committee, Board of Trustees of Queen’s University;
Vice Chair, BC Chapter Executive, Institute of Corporate Directors

Robert (Bob) McFarlane, ICD.D

National Academic Director and Lead Instructor


Director, Economical Insurance;
Chair, Audit, Risk & Conduct Committee, HSBC Bank Canada;
Chair, UBC Information Technology Advisory Council;
Chair, Capital Assets & Finance Committee, Board of Trustees of Queen’s University;
Vice Chair, BC Chapter Executive, Institute of Corporate Directors

With an accomplished career of value creation as one of Canada’s leading executives, Robert Macfarlane has been a proponent of corporate governance best practices with two dozen years of corporate board service.
 
Bob became CFO of start-up national wireless carrier Clearnet for its 1994 IPO and quarterbacked the raising of over $3 billion in financings. Following its $7.7 billion (enterprise value) acquisition in 2000, he served as CFO of TELUS until 2013. In 2007, he was named Canada’s Top CFO. Bob serves on the board of HSBC Bank Canada where he chairs the Audit, Risk & Conduct Committee. Since November 2018, he has been a member of the board of Economical Insurance.
 
Previously, Bob served as Audit & Risk Chair of Entertainment One (a former LSE listed entity until its acquisition by Hasbro), TSX listed InnVest REIT, as well as Royal & Sun Alliance (RSA) Canada.
 
In the NFP sector, he chairs the UBC Information Technology Advisory Council (since 2014) and serves on the Board of Trustees of Queen’s University where he currently Chairs the Capital Assets & Finance Committee. In addition, Mr. McFarlane volunteers with The Salvation Army as Chair of its Greater Vancouver Advisory Board.
 
Bob also serves on the Executive of the BC Chapter of the Institute of Corporate Directors as Vice Chair. He has been frequent moderator and panelist on corporate governance sessions and webinars on topics including corporate culture, digital strategy, corporate purpose beyond profit, designing an effective board, ethical oversight, oversight of enterprise risk management, oversight of large complex projects, etc.
 
Bob holds a Commerce degree from the Smith School of Business at Queen’s University and an MBA from the Ivey Business School at Western University. 
Robert (Bob) McFarlane, ICD.D Headshot

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