Protecting Profitability by Reducing Financial Risk

Protecting Profitability by Reducing Financial Risk

1h 54mIntermediate2018-08-13

Authors

Dan Weedin

Dan Weedin

Business Continuity Consultant and President of Toro Consulting

Course details

Running a company is inherently a risky business. But with a cohesive risk management program, you can reduce financial liability, protect your property and your people, and make sure you stay open for business—no matter what happens. This course offers practical and implementation-ready solutions to protect organizational knowledge and valuation while reducing financial risk for businesses of all sizes and industries. It is designed for business owners, executives, and risk managers who want to protect digital, intellectual, and physical assets; keep employees safe; and guard against cyber threats as well as natural and man-made disasters. Business continuity expert Dan Weedin first reviews the risk management process, from identifying exposures to implementing and monitoring a risk management program. Then he shows how to protect your company by building a strong team that keeps organizational knowledge in-house and operational. Plus, learn how to plan for risks that are unique to the digital age, such as IP theft and cyberattacks, and buy insurance to mitigate financial loss in the worst-case scenario.

Learning objectives
Explain the process of identifying exposures.
Cite examples of transferring risk.
Name the tools used for implementation and monitoring risks.
Define “organizational amnesia” and explain how to prevent it.
Describe security concerns an organization may have and explain the cybersecurity tools that may be used to mitigate them.
Identify the benefits of an employee handbook for mitigating risks.
Explain the various parts of an insurance policy.
Summarize the importance of a business continuity plan and describe the steps for creating one.

Skills covered

Corporate FinanceFinance and AccountingFoundations

Concepts

Introduction

  • You need risk management
  • Risk management is an executive strategy
  • The ROI of risk management

The Risk Management Process

  • Boxing vs. brawling
  • Identifying exposures
  • Analyzing impact
  • Controlling the uncontrollable
  • Transferring risk
  • Implementation and monitoring

Protecting Your Assets, Knowledge, and Valuation

  • Creating a resilient company culture
  • Leadership development
  • Forming a crisis team
  • Business transition planning
  • Avoiding organizational amnesia
  • The ROI of you

Digital Risk Planning

  • Cybersecurity and liability
  • Distributed workforce risk planning
  • Employment practices liability
  • Intellectual property and business intelligence

Buying Insurance the Right Way

  • Financing your risk
  • The broker selection process
  • What insurances to buy
  • Long-term strategy on insurance

Applying Risk Knowledge

  • Pre-planning business continuity
  • Crisis simulation exercises
  • Challenge - Apply your crisis recovery plan
  • Solution - Recovering

Conclusion

  • Next steps
40,000 Toman