Practical ideas: Use gamification and passive learning techniques

We use a lot of gamification in our training sessions. Some of the examples include: Risk management business game 2014 – In 2014 we collaborated with EY to develop Russia’s first risk management business game. It was great fun and as a result we created a pretty sophisticated business simulation. Participants were split into teams of…… Continue reading Practical ideas: Use gamification and passive learning techniques

Practical ideas: Develop in-house certification for employees in high risk activities

Another useful suggestion is to develop an internal risk management certification for employees working in high-risk activities. This will ensure staff working in high-risk activities, like manufacturing, trading, insurance, security and others possess adequate risk management skills and remain cognizant of the risks associated with their work. Certification programmes may be developed internally or outsourced.…… Continue reading Practical ideas: Develop in-house certification for employees in high risk activities

Practical ideas: Make risk training competency based

Just like any other business expense, a risk management training budget needs to be justified. And just like any investment decision, risk management training needs to show adequate return on investment. Training costs money: the development process, hiring trainers and getting employees to dedicate time away from their workplace to participate in training. One useful…… Continue reading Practical ideas: Make risk training competency based

Practical ideas: Conduct training for “risk-champions”

Provide additional risk management training to the in-house risk management team and business units responsible for internal control, audit, finance, strategy and others. Risk managers may conduct it personally or outsource to third party providers. In-depth risk management training should include (this example is based on the actual risk management training provided by Institute for…… Continue reading Practical ideas: Conduct training for “risk-champions”

Practical ideas: Conduct training for senior management and the Board

Tone at the top is very important for risk culture development. Executives and Board members play a vital role in driving the risk management agenda. Nowadays many executives and Board members have a basic understanding of risk management. Auditors, risk management professional associations and regulators have been quite influential in shaping the Board’s perception of…… Continue reading Practical ideas: Conduct training for senior management and the Board

Practical ideas: Include the principles of risk-based decision-making in induction training for new employees

New hires come from a variety of education and experience backgrounds and most importantly, each new employee has their own perception of what is an acceptable risk. It is important for risk managers to cooperate with the Human Resources department or any other business unit responsible for training, to jointly carry out training on the…… Continue reading Practical ideas: Include the principles of risk-based decision-making in induction training for new employees