Description
A tremendous amount of cost is incurred in those areas that are necessary to operate but are not self-supporting from a cash perspective. To manage the organization effectively on a holistic basis it is necessary to not only effectively manage the costs of developing and delivering your products and services but also the significant cash consumers of central support, HR & Technology Services to name two.
In this course you will learn how to efficiently and effectively perform powerful risk assessments of every key area of central support utilizing data analytics. Employing data analytics is the only way to accurately assess every aspect of risk that can be present. This will range from the effectiveness of controls from a design and operation standpoint to the performance of the key functionalities of each. You will learn how to identify root causes of risks that are present and develop proven business cases for why management must act to correct these deficiencies. In addition, you will discover how to implement a continual risk assessment methodology for these areas.
Prerequisites: Risk School (OAR201) or equivalent experience
Advance Preparation: None
Learning Level: Intermediate
Field: Auditing
Delivery Method: Group-Live
What you will learn
1. Using Data Analytics to Effectively Risk Assess Finance and Financial Reporting
• determining the key functionalities of finance & financial reporting
• building the right analytics to risk assess SOX and financial reporting
• building the right analytics to risk assess taxation function
• building the right analytics to risk assess treasury and cash management
2. Using Data Analytics to Effectively Risk Assess Legal
• determining the key functionalities of legal
• building the right analytics to risk assess litigation
• building the right analytics to risk assess contractual review
• building the right analytics to risk assess cost effectiveness of legal
3. Using Data Analytics to Effectively Risk Assess Human Resources
• determining the key functionalities of human resources
• building the right analytics to risk assess employee recruitment
• building the right analytics to risk assess employee training
• building the right analytics to risk assess employee retention
• building the right analytics to risk assess employee benefits
• building the right analytics to risk assess management effectiveness/performance
4. Using Data Analytics to Effectively Risk Assess Marketing & Sales
• determining the key functionalities of marketing & sales
• building the right analytics to risk assess advertising effectiveness
• building the right analytics to risk assess marketing program management
• building the right analytics to risk assess sales force management
• building the right analytics to risk assess customer satisfaction and retention
5. Using Data Analytics to Effectively Risk Assess Technology Services
• determining the key functionalities of technology services
• building the right analytics to risk assess new systems development
• building the right analytics to risk assess help desk
• building the right analytics to risk assess application support
• building the right analytics to risk assess data security
• building the right analytics to risk assess physical security
• building the right analytics to risk assess business continuity
6. Using Data Analytics to Effectively Risk Assess ERM
• determining the key functionalities of ERM
• building the right analytics to risk assess ERM’s risk prediction effectiveness
• building the right analytics to risk assess ERM’s reporting and information flow
• building the right analytics to risk assess ERM’s impact estimation and risk management
• building the right analytics to risk assess ERM’s establishment of a risk culture
7. Using Data Analytics to Effectively Risk Assess Outsourcing and Third Party Contracting
• determining the key functionalities of outsourcing & third party contracting
• establishing the timing of data analytics determination
• building the right analytics to oversee key partner relationships
• establishing the timing of data analytics determination
8. Using Data Analytics to Effectively Risk Assess Purchasing
• determining the key functionalities of purchasing
• building the right analytics to risk assess purchasing’s effectiveness