$0 – $500

Event Information

Share this event

Date and Time

Location

Location

AIMCo Training Center

10830 Jasper Ave

Edmonton, AB

Canada

View Map

Refund Policy

Refund Policy

Refunds up to 7 days before event

Event description

Description

Thank you very much to AIMCo for being our room sponsor and wonderful host for this workshop!

May 22 & 23 From 8am to 4pm

Context and target audience: Experienced risk and insurance professional, executive decision makers

Cost: $300 +service charges for members, $500 +service charges for non-members

Includes light breakfast, refreshments, healthy lunch, workbook and a complimentary copy of Decision Quality: Value Creation from Better Business Decisions, Carl Spetzler, Hannah Winter, Jennifer Meyer

**NARIMS will be applying to the AIC for 14 hours of accreditation

**For group inquiries, contact Christine Maligec at cmaligec@ab.bluecross.ca or 780-401-1185.

**This session will be recorded for educational use by SDG

Decision Quality provides the defining framework for a good decision. It is an extension of Decision Analysis (DA)—a set of concepts and tools that produce clarity about the best choice in an uncertain and dynamic environment. DQ not only uses DA to get to the “right” answer, but also engages the most important parties in the decision process to achieve alignment and commitment to action.

Enterprise risk management (ERM) has grown increasingly sophisticated. Many companies start with a traditional checklist approach and limit their evaluation to risks that are identified in surveys. A value-driven approach encompasses a forward-looking probabilistic analysis for the quantification of the overall uncertainty in the value of an enterprise with a clear identification of the primary risk drivers

Instructor: Dr. Carl Spetzer

Carl Spetzler is an author, speaker, and consultant on business decision making. For more than 40 years, he has worked with top management and boards of directors to develop innovative new strategies for dealing with risk and uncertainty over long time horizons. Chairman and CEO of Strategic Decisions Group, Dr. Spetzler is the lead author of the 2016 business book Decision Quality.

Short Description of the two-day course:

In leading organizations, the role of risk management has grown to include the upside of risk. In addition to the traditional roles of compliance and protection from adverse events, risk professionals are now participating in the value creation activities that require smart risk taking. This expanded role requires an understanding and access to the skills needed to apply the well-developed fields of decision science.

In this two-day course, the participants will gain an understanding of the fundamentals of decision science and how it is applied to create value by making quality decisions in the face of uncertainty. The course will combine the insights from the prescriptive (what we should do) decision sciences and the behavioral (what humans naturally do) decision sciences.

The specific topics covered will be:

  • The Fundamentals of Decision Science
  • The DQ Framework
  • What is risk? Including the upside of Risk
  • Applying DQ in Enterprise Risk Management -- Value-Driven ERM
  • Biases and quantifying uncertainty
  • Quantifying Personal Risk Appetite
  • Corporate Risk Appetite and how to apply it
  • Application Example: Risk Sharing
  • Defining the ERM Decision Agenda

Benefits, Learning Outcomes:


  • Learn how applied Decision Science is the core knowledge required for the risk professional engaged in strategic decision making.
  • Turn a compliance perspective on ERM into a value-creation perspective.
  • Align risk management objectives with overall strategic goals.
  • Build and gain value from a strategic risk framework.
  • Understand and prevent biases and distortions in risk assessments.
  • Quantify and manage downside risk and upside uncertainty to create new alternatives for increased value.
  • Characterize and assess risk appetite and develop a quantitative risk policy that can be applied to “discount for risk” by calculating the appropriate risk premium for different risk exposures.
  • Discuss how to implement value-driven ERM and overcome potential obstacles.


Share with friends

Date and Time

Location

AIMCo Training Center

10830 Jasper Ave

Edmonton, AB

Canada

View Map

Refund Policy

Refunds up to 7 days before event

Save This Event

Event Saved