Enterprise Risk Management for Oil & Gas CompaniesGIP/RMC

Who should attend?

  • This course provides the most recent elements and reflections on management of integrated risk and control frameworks “Enterprise Risk Management”.
Audience :
  • Professionals in charge of implementing internal controls and procedures, managing risks, including with regards to Ethics and Compliance; managers and independent board members wanting to know best practices. Technical staff moving to broader more senior management positions.

Course Content

  • BUSINESS DRIVERS & CORPORATE GOVERNANCE REQUIREMENTS

      • Best practice corporate governance requirements internationally.
      • The respective roles of the boards, company, management and shareholders in these.
      • Risk and audit committees.
  • IDENTIFYING, ASSESSING & MITIGATING ENTERPRISE LEVEL RISKS

      • Understanding risk appetite.
      • Risk identification methodology and tools, integrating risks with business strategy.
      • Risk quantification (impact vs. likelihood), value at risk.
      • Developing risk responses (4Ts, bow tie), the various types of controls (preventative and detective…).
  • RISK CULTURE

      • Limits of hard control and importance of a risk culture.
      • Risk culture archetypes.
      • Individuals’ behaviors and rule breaking.
      • Fraud definition, types and prevention.
      • Improving the organization’s Risk culture. The Culture tripod: What we say, What we do, What is understood.
  • DEALING WITH REPUTATION, COMPLIANCE & CRISIS MANAGEMENT

      • Key principles.
      • Corporate social responsibility and risk management.
      • Key ethics and compliance areas relevant to the Oil & Gas industry: bribery, competition law, money laundering, trade sanctions.
      • FCPA compliance.
      • Business contingency planning: black swan events, resilience.
  • TESTING RISK RESPONSES, LEARNING FROM INCIDENTS

      • Assurance planning tools characteristics and pros and cons (KPIS monitoring, self-assessment, peer reviews, audits).
      • Designing the assurance plan.
      • Learning from incidents (root cause analysis, effective sharing of learnings).
  • PUTTING IT ALL TOGETHER: COMMON STRUCTURED FRAMEWORKS

      • The COSO framework, ISO 310000.
      • Governance: organizational set up.
      • Communication.

Learning Objectives

  • Upon completion of the course, participants will have:
  • obtain a global understanding of the problems attached to companies’ governance,
  • know the most recent solutions developed and implemented in risk and control framework of companies,
  • review and improve their department/business unit/division or company’s risk management framework.

Ways & Means

  • Case studies.