The CFO Series The CFO Series provides a convenient, one-stop way for CFOs and those who aspire to be CFOs, to earn an entire year of CPE with a single decision. Each day consists of a subject matter expert leading discussions about four different topics. The CFO Series features high-quality presentations and an interactive, executive level colleague-to- colleague approach with case studies, group discussions, and team exercises. Each topic and each day stand on its own. If you are not sure about making a multi-day commitment, sign up for just a single day. We think you will come back for more! This CFO Series Day This four-topic presentation spotlights varied methods to enhance productivity, focusing on proven risk reduction strategies, ERM and insurance management. We also take an in-depth look at the true cost of quality and why quality matters. The focus is straightforward: Understanding risk and getting the most return from risk reduction with verified approaches to increase profitability, thus improving the health of the organization.
Learning Objectives
- Understanding the process to determine the cost of quality within your organization. Why does quality matter? Why is quality so valuable?
- To have a better understanding of the various external and internal risks present today and expected tomorrow
- and to understand methods to mitigate risk
- Review insurance law and discuss issues regarding the selection of insurance policies. What is valuable to know about insurance exceptions and exclusions?
- How to successfully implement ERM and integrate it into everyday business practice
Major Topics
- • What is ERM and why is it important?
• What is your risk appetite and risk tolerance?
• The COSO framework for ERM and its recent updates
• The ERM Steering Committee – what is it for and what does it do?
• Risk heat maps – evaluating what is hot and what is not
• Risk owners and the risk control plan
• Measuring the effectiveness of the implementation
• The role of leading and lagging indicators - KRIs
• Making it part of everyday management
• The need to integrate ERM into strategic planning
• How are risks managed? - What is risk transfer?
• What does a broker do, how do we choose a broker, and how should we pay them?
• What can insurance protect against?
• Deductibles, self-insurance, and captives
• Issues affecting different classes of insurance regarding claims and accessibility
• Actions you need to take in addition to securing insurance
• Umbrella policies and how they attach above the primary
• Defining risk as it impacts organizations
• Understanding external and internal risks o Examples of these risks o How do we identify and assess? o What can be done about the risks?
• Developing a risk mitigation strategy and plan
• Monitoring and mitigating risk
• What do we mean by quality?
• Why does quality pay off?
• Total quality management, including lean and six sigma
• The four elements of the cost of quality
• Practical prevention activities
• The necessity of appraisal and why quality cannot be inspected into a process
• Sources of internal failure and other sources you may not have considered
• External failure and the hidden costs of 'shortcuts'
• Creating an effective and actionable cost of quality report
