Enterprise Risk

Course Description

This course requires the manager to confront opportunities and constraints emanating from sources both external and internal to the organization. Topics include assessing enterprise risk; risk monitoring and reporting; mitigating risk in changing economic and regulatory environments; governance; compliance; managing audit functions and board relations; and ethical responsibilities to stakeholders in managing and reporting risk.

Topics and Objectives

Identifying Legal Risks

• Examine the structure and processes of the American legal system.
• Differentiate between civil and criminal law.
• Differentiate among federal, state, and local law.
• Identify risks associated with current trends in intellectual property law.

Contract Risk

• Identify basic concepts of contract law.
• Analyze the remedies available to resolve a contract dispute.

Regulatory Risk

• Identify basic concepts of regulatory law.
• Assess the impact of the regulatory environment on industry and organization risks.
• Evaluate the legal decision in the context of the organization's values and ethics.

Employment Risk

• Identify basic concepts of employment law.
• Evaluate employment at will and exceptions to this doctrine.
• Analyze the impact of regulation on the employment relationship and collective bargaining.
• Recognize agency principles and their application in business.

Corporate Compliance

• Identify corporate governance concepts.
• Identify the role of stakeholders in the corporate governance process.
• Explain how failures in corporate governance lead to regulatory action.
• Describe the provisions of Sarbanes-Oxley.

Implementing Corporate Governance in the Context of Enterprise Risk Management

• Distinguish among preventive, detective, and corrective internal controls.
• Recommend a preventive solution that incorporates risk mitigation.