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Risk Management

Risk Management in the Modern Business Environment

The risk management approaches of ten or twenty years ago are no longer relevant to the business environment. Modern organisations have to deal with risks such as extreme political changes, internal and external security breaches, information security threats, and management of human resource capital. Dealing with situations like these requires the organisation to have a proper risk management system in place.

We provide you with a brief introduction to two standards related to risk management and courses relevant to the topic, helping you gain insight into the training needs of your employees regarding risk assessment and management.

Why is ISO 31000:2018 Important for Risk Management?

ISO 31000 is a set of standards that deal with effective risk assessment management in the organisation. Various types of risks exist for companies. The standard provides the principles and guidelines for general risk management to ensure that organisations, operating in the global economy, can mitigate risks effectively. It provides a universally accepted framework for deploying risk management processes.

With risks present in every aspect of the organisation’s existence, the standards help organisations to manage risks effectively through the open systems model. It is about corporate leadership and governance regarding risk management. It is intended for executive level management, risk practitioners, supervisors, project managers, risk controllers, and internal auditors. The family of standards relate directly to the risk assessment process.

Introduction to Risk Management Course

Whether you are a risk controller, systems coordinator, or the person tasked with conducting internal risk audits in your organisation, you will benefit from attending our Introduction to Risk Management course. In fact, any person tasked with monitoring the effectiveness of their company’s risk assessment implementation should attend the course.

The main objectives of the course are to give insight as to why risk assessment is essential in any organisation, provide you with a basic background to ISO 31000:2018, and give insight to the requirements. In addition, the course aims to help you prepare to do the risk assessment and complete the audit process to meet ISO 31000 requirements.

The course content includes an overview of the various definitions in the standard, a discussion of risk methodologies and usage, and language as relevant to the risk assessment. It also covers risk mitigation, reports, and insight on how to integrate risk management with your company’s existing ISO management systems.

On an individual level, attending the course will improve your understanding of the risk assessment process, and provide you with the ability to recognise and control hazards. It will also provide you with a valuable qualification that can be used towards gaining a position on the risk assessment audit team. On a company level, attendance by key employees will help to ensure that your firm has qualified personnel for audits of risk assessment processes. It will help to improve productivity, add to your company’s positive image, and ensure that your employees are equipped with the skills to proactively do risk assessments.

Why is ISO 27001:2013 Important for Risk Management?

ISO 27001 was previously called ISO/IEC 27001:2005. It is an internationally accepted standard for the development and implementation of an Information Security Management System (ISMS). The ISMS provides a framework for the development of policies and procedures, in addition to controls for protecting information assets. It includes the operation, ongoing monitoring, reviewing, and improving of the organisation’s information security management system to ensure adequate protection of all information assets in the company.

The standard follows a top-down approach to information security and is not related to a specific technology. The process entails the defining of the organisation’s security policy and the ISMS scope. This is followed by the assessment and management of various risks. The next step is to choose the relevant controls and control objectives. The final step in the process entails preparing the statement of applicability.

Information Security: ISO 27001:2013

Part of ongoing risk management entails the development of widespread awareness in the company regarding information security and its importance in the company. We provide training on ISO 27001:2013, which will help your employees understand the importance of reducing information security risks. The course is relevant to every employee, regardless of their job level and area of responsibility.

Information security is not just about putting IT systems in place. It is also about the physical protection and management thereof by the people in the company. It only takes one individual to casually leak information to compromise company or customer data.

The course is structured to provide insight as to what an ISMS is and how it relates to risk management. It outlines the basics of what the ISMS does, as well as the requirements of ISO 27001:2013, which must be met for the organisation to be compliant. The course covers the implementation of the ISMS, including the policy, procedures, and documentation needed according to the requirements of ISO 27001.

It also covers vulnerabilities associated with information assets and the basics of risk assessment. In addition, it covers Annex A of the standard and the basic certification process.

Delegates will learn about the benefits of the ISMS and its relation to effective risk management. The course covers topics, such as why a ISO 27001 certification is beneficial for the organisation and how the certification process works. It provides an overview of the documentation needed and includes topics, such as statement of applicability, the risk assessment and treatment plan, and asset and access control. The course also provides an explanation of the tools that must be used in order to meet ISO 27001 requirements, and discusses Annex A of the standard.

By enrolling your employees in the course, you also perform one of the actions required to ensure compliance with the requirements of ISO 27001. If your employees understand information, security risks, and the management thereof, they will be less likely to leak information, which could lead to fines for your company. You also protect your company’s imagine and can ensure that your customer information is secure. Your firm will benefit by saving costs associated with information security breaches.

View our full range of courses, templates, and consultation services related to risk management, or call on us to help you decide which training is relevant to your organisation.