Overview
Under increasing pressure to evolve, organisations and managers are faced with an increasing number of risks and potential threats. Delegates will be guided through the various types of risk that could apply to the financial side of any business - especially in instances such as:
- Money Laundering where mitigation is a legal requirement incorporating personal and corporate responsibility or
- Import / Export transactions where the responsibilities are laid down in industry standards such as Uniform Rules for Collections or Uniform Customs and Practice for Letters of Credit
The trainer will cover the types of financial risk under the separate headings and spend time reinforcing the options available to the company to mitigate that particular risk.
This training may be available onsite; please contact us if you are interested.
Audience
All staff members involved in the identification, analysis and management of financial risk: accounting and book-keeping staff; business development staff; and risk mitigation staff.
Skills Gained
Deegates will gain:
- An understanding of the most-commonly seen financial risks in companies and banks
- An awareness of how these risks can affect the smooth-running and, more importantly, the profitability of the companies
- An indication of the ways in which these risks can be mitigated: either by adherence to legal requirements or industry standards, or by changes to company best-practice
Course Outline
- Overview of risk management highlighting the various types of financial risk that a company or bank might face
- Financial Crime Risk
- Money Laundering and Terrorist Financing (as defined in the Proceeds of Crime Act 2002)
- Fraud - internal and external
- Identity Theft
- "Phishing"
Credit Risk
- Creation and Analysis of Balance Sheets
- Creation and Analysis of Profit and Loss Accounts
- Creation and Analysis of Budgets and Cash-Flow forecasts
- Business Cases and Business Plans
Exchange Risk
- The risk in currency conversion for exports and imports
- Interest Rate Risk and all changes to costs and income (including exchange risk from above) which are beyond the company's direct control
- Market and Industry Risks including:
-
- Counter-Party risk - the risk of not being paid for sales or of not receiving the right goods for purchases (especially for exports and imports)
- Industry Risk - changes in fashion and technology; seasonality; natural and man-made disaster
- Reputational Risk - issues affecting the value of a company's brand
- Country Risk - a country's willingness or ability to pays its bills
Operational Risk
- The assessment of risk in undertaking all change which is internal to the company
- This will also briefly include the risks involved in managing and delivering projects
- Other types of financial risk
The training course outline shown above is a standardised version representing all
the dates shown and may vary from the course you attend. You will be sent the actual
course outline when you enquire about a specific date.