Risk Management
BS 31100 Code of Practice for Risk Management

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This conference and workshop provided a briefing on the important British Standard for risk management, BS 31100:2008, from the organization that created the Standard. The conference also provided good practice guidance.

Given the growing focus on corporate governance and security, and with the economic climate demanding that businesses review their operations, the conference offered an ideal opportunity to re-assess risk management strategies and look for new ideas.

Delegates left this BSI conference with a clearer idea of how risk management strategies and processes could be improved by utilising this new code of practice.

Benefits of attending

• A comprehensive briefing on the first British Standard on risk management, covering:
  - What BS 31100 contains
  - How it can be applied to organizations
  - How it could help tackle current risk management issues
  - The benefits BS 31100 offers to your business
• An in-depth, interactive workshop on reporting and communicating risk
• Opportunities to discuss experiences with experts, network with peers, benchmark, and share problems and solutions.

SUPPORTING ORGANIZATIONS

EXHIBITORS

CHAIR

Julia Graham
Chief Risk Officer, DLA Piper UK LLP
Chair, BS 31100 Committee

An introduction to BS 31100

Seeing risk as an opportunity

• What is BS 31100?
  - How is it different from other risk guides?
• How the standard fits with other management systems/standards
• International developments
• Opportunities and benefits of BS 31100
• When and how should it be used?

David Adamson
Committee Manager – Risk, QA and Security, BSI British Standards

The benefits of Enterprise Risk Management (ERM)

• An introduction to the AIRMIC ERM benefits research project
• Scope and methodolgy of project
• The hallmarks of successful ERM
• Where ERM can deliver competitive advantage
• Case studies of five organizations that enjoy benefits from ERM

Richard Archer
Senior Consultant, Det Norske Veritas

Risk management and regulation

• Formal regulation vs. self regulation
• Reducing the regulatory burden
• Where does BS 31100 fit?
• The National Risk Register

Richard Anderson
Partner, Control Solutions United Kingdom

ABOUT BS 31100

Principles of BS 31100

Risk management principles

• How can the 10 key risk management principles help?
  - Systematic and structured
  - Best available information
  - Addressing uncertainty
  - Decision making
  - Organizational culture, human factors and behavior
  - Create and protect that of value
  - Tailored
  - Transparent and inclusive
  - Responsive to change
  - Common language

John Coubrough
Assistant Director, Department for Business, Enterprise and Regulatory Reform Risk Support Team

Framework

Establishing a risk management framework

• What is the purpose of a framework and what benefits can it bring?
• Risk management culture and getting buy-in
• Risk management strategy
• Risk appetite and profile
• Risk management policy
• Risk and consequence categorization and measurement

Michael Faber
Vice Chairman, Institute of Operational Risk

Roles and responsibilities

• Risk management governance
• Senior management responsibilities
• Oversight body
• The role of individuals
• Auditing
• Reporting
• Review

David Smith
Director, iMS Risk Solutions
Chairman, BSI OHSAS Committee

Process

The risk management process

• Risk context
• Identifying risks
• Risk assessments
• Risk response
• Reporting risk
• Risk reviews

Frances Scarff
Portfolio Manager, Office of Government Commerce

Implementation

Implementing risk management

• Leadership for risk management – what does it look like?
• Identifying obstacles
• Achieving capability and competence
• Continual improvement
• Benefits capture – making the difference

Jeremy Harrison
Head of Project Risk & Value Management, Network Rail

Risk management - The corporate governance perspective

• Accountability through management to parliament
• Cross departmental – agency risks
• Where the buck stops when risks go wrong

Philip Dunne MP
Chair, All-Party Parliamentary Corporate Governance Group

CASE STUDIES: RISK MANAGEMENT IN PRACTICE CASE STUDIES HIGHLIGHTING THE ISSUES, TRENDS AND BENEFITS OF RISK MANAGEMENT

Implementing effective risk management in SMEs

• Drivers for risk management
• Overview of best practice risk management and associated standards
• Challenges when implementing risk management
• Risk management in the SME sector
• Case Study - Successful implementation of risk management within an SME

Douglas Ure
Managing Consultant, Marsh

+ Client (TBC)

Risk management across a large organization
How London Underground has implemented risk management in their organization

• The challenges faced by London Underground
• What the organization wants from risk management
• Differing needs and expectations
• Incremental risk management process change

Fiona Davidge
Head of Business Risk Management, London Underground

All those responsible for:

• Ensuring that their organization manages to achieve its objectives
• Ensuring risks are managed in specific areas or activities
• Overseeing risk management in an organization
• Providing assurance on an organization’s risk management.

This included: CEOs, CFOs, CROs, CIOs, COOs and CTOs; chairmen and company secretaries; managing, IT and finance directors; risk, insurance, claims and business continuity managers; information security specialists; underwriters;  Health and Safety officers; and heads of legal affairs.

Risk Management Workshop
23 Oct 2008

BS 31100 - Reporting and Communicating risks

The key areas covered in the workshop, all based on BS 31100 Code of practice for risk management, included:

• An introduction to the risk management perspectives
• Tailoring the risk management approach
• Common language
• An introduction to the framework and process
• Communication
• Reporting
• Tools and techniques
• Maintenance and continual improvement

Rubina Faber
Director, Regal Training and Consultancy