Risk Oversight: The Board's Role in Risk Management (BLC)

Description

Risk Oversight: The Board's Role in Risk Management (BLC #921.1)

Electric co-op boards are operating in what may be one of the most challenging business environments any generation of directors has ever known. The array of risks ranges from financial, regulatory, reputational, cyber and economic to technology and changing member demographics as well as the emergence of Environment, Social and Governance criteria. This course is designed to provide directors with the principles and tools to improve their processes for overseeing the cooperative’s risk management activities. Using co-op examples and real-world case studies, this interactive course discusses the unique role of board and management to identify, manage, and mitigate risk with processes that are appropriate to the characteristics of electric cooperatives. 

KEY TOPICS 

• The value and benefits of enterprise risk management (ERM).
• Link the concept of ERM with the board’s strategic planning responsibilities.
• Discuss how Environment, Social, and Governance criteria (ESG) and ERM can impact risk at electric cooperatives.
• Discuss enterprise risk management models that co-ops can use.
• Apply tools and strategies to help the board fulfill its oversight role.
• Distinguish the board’s role from management’s role in enterprise risk management.