EFFECTIVE RISK MANAGEMENT FOR CHARITIES
Identify top risks faced and implement risk mitigation strategies in your charity
Identify top risks faced by your charity, develop a risk management policy and build a culture of risk management and transparency in risk responsibilities in your charity.
About the Course
Are you familiar with the potential risks faced by your charity? From technology risks such as losing of confidential data and data corruption, to operational risks such as employee risk (e.g. disgruntled employees, retention), any of these risks, when not properly managed, will cause adverse impact to your charity’s operations and consequently, image in the public eye.
Our Effective Risk Management for NPOs course will teach you how identify top risks facing your charity, divide risk responsibilities across board members and staff, and develop risk management plans in the most critical areas of your charity (e.g. fundraising, volunteer management, cash flow management).
What You Will Learn
By the end of the programme, participants will be able to:
- Understand Risk Governance structure, Risk Culture and Language.
- Conduct Risk Identification: understanding how risks are evaluated and charted in a risk map.
- Develop a Risk Register and Risk Action report.
- Deploy an overall risk management policy and monitor implementation
- Implement a review and re-evaluation of risks and the pertinent mitigation activities.
Course Outline
- What are risks and how are they perceived by your organisation.
- Division of risk responsibilities among Board, Subcommittees, Senior Management, Finance & Risk teams and operations management.
- Why you need risk management in your organisation?
- Comply with pertinent laws and regulations effectively.
- Establish clear accountability and ownership of risk, and the common risk language.
- Ensure transparency of both current and emerging risks.
- Develop a system of continuous monitoring and reporting of key risks across all operations.
- To identify risks timely and implement risk mitigation strategies to manage risks.
- Reduce personal liability of management.
- To identify risks timely and implement risk mitigation strategies to manage risks effectively.
- Risk management processes
- Prioritise the top risks to focus management’s attention.
- Prepare periodic risk reports on incidents and events.
- Reevaluate the effectiveness of mitigating actions.
- Communicate, sustain and improve the risk management process.
- Risk management in specific areas for charity, e.g., fundraising, restricted reserves, investments, volunteer management, anti-money laundering, terrorist financing and cash flow management.
- Building a culture of risk management and transparency in risk responsibilities.
The course is taught across 16 hours, with lectures, videos, case studies, group discussions, checklists, *invited speaker(s).
For 4 or more participants from the same organisation, 1-hour post-session coaching will be provided.
*Invited speaker(s) may be pre-recorded.
Course Highlights
- Understand risk governance structure, risk culture, and language.
- Complimentary coaching session available for 4 or more participants from the same organisation.
- Risk Identification: Understand how risks are evaluated and chartered in a risk map.
- Risk Register and Risk Action Report.
- Overall risk management policy to institute and monitor the processes.
Who Should Attend
Board members, Finance Subcommittee, Audit & Risk Subcommittee, Senior management, HODs, and Finance and Operations staff.
Finance team is required to attend this training, to be up to date with the accounting standards and this is a necessary part of the charity compliance.
Why Join
- Comprehensive Learning Journey: Each course builds on the previous one, guiding you through strategy creation, compliance, sustainability, and impactful reporting.
- Skill-Intensive Training: Practical examples, tools, and frameworks tailored for charities.
- Expert-Led Programs: Facilitated by Dr. Isabel Sim, a seasoned trainer and thought leader in charity finance and governance.
- Networking Opportunities: Engage with peers and experts to share challenges and solutions.
- Tailored Solutions for Charities: Address governance, financial management, and compliance challenges specific to your organization
Seminar Fees & Funding
Funding is subject to eligibility.
Early Bird Pricing
Pricing Option Fee (Per Pax) After CCF Funding Early Bird Fee $1,700 $700 Group Discount (Early Bird Fee with 15%) $1,445 $445 Standard Pricing
Pricing Option Fee (Per Pax) After CCF Funding Standard Fee $1,800 $800 Group Discount (Standard Fee with 15%) $1,530 $530 Summary of Key Discounts:
- Early Bird Discount: Save $100/pax by registering early.
- Group Discount: 15% off for groups of 4 or more, applicable to both Standard and Early Bird Fees.
- CCF Funding: Eligible participants can reduce their fee by $1,000.
About the Facilitator
Dr Isabel Sim
Dr Isabel Sim is the principal consultant at Integrative CSR Consulting. She was formerly Senior Research Fellow, Department of Social Work, Faculty of Arts and Social Sciences, National University of Singapore as well as Director (Projects), Centre for Social Development (Asia). She served as Head of Corporate Governance Practice, Centre for Governance, Institutions and Organisations (CGIO) and Senior Lecturer, Department of Strategy and Policy, NUS Business School from 2012 to 2014.
She obtained her PhD in finance from The University of Western Australia in 2011. She is the editor of the series Accounting and Finance Handbooks for Charities including Budgeting and Cash Flow Management, Fund Accounting for Charities, Full Cost Recovery for Charities and Cost-Effective Audit for Charities. She is also the lead author for Accounting for Good – Helping Charities Do Good Better, a project in collaboration with NUS and ISCA. Besides extensive experience in applied research in the charity sector, Dr Sim has more than 15 years of experience in teaching working adults. She has taught accounting, corporate governance, finance, and economics subjects in MBA, EMBA, and other professional programmes.