Center for Corporate Governance
GRC - Governance, Risk Management and Compliance
For the past 2 years CCG and its members have been working towards establishing a new education program. The program will focus on answering a competency gap in today´s business environment on compliance and risk management.
The area of governance, risk management and compliance (GRC) has changed significantly over the past decade and will continue to challenge various industries in the future. Issues of money laundering, financial crimes, and corruption at both national and firm level, are creating societal and business challenges, which need to be addressed. New risk profiles, rapidly changing regulatory standards, and global competition force industries to change the way they think about the future and provide new opportunities to become better and more efficient. The three courses will give future managers and employees the skills and knowledge to create a strong, Nordic value driven and ethical foundation for their careers.
The courses will be offered as electives through CBS´s Master of Business Development. Students can either take one of the three courses, or take all three and receive a small Governance, Risk Management and Compliance “diploma”. All three courses will be listed in the Finanskompetencepuljen where students can get financial support for the courses.
These courses are:
Risk Management and Compliance (Embedding Risk Management and Compliance into your business)
Technological, political and social disruptions are changing the world, and with it what we can do (in terms of business models), how we look and understand systems, and the inherent risks in it. This course will try to give the participant a solid background within compliance and regulations, including an understanding of the importance of compliance, risk identification and risk management, and to understand the compliance methods and activities companies can take. Participants will know how to ask the right questions in challenging situations and support their companies in becoming more risk aware and compliant. The use of data and empirical models will be introduced so that course participants can confidently oversee and discuss the work of specialists. This course will be grounded in real life cases and theoretical perspectives of the challenges experienced by companies today.
The course will be taught by CBS professors as well as external lecturers from Plesner and Nordea.
Digital technologies are fundamentally transforming the ways in which organizations create value from business activities, processes, products, and services. The financial sector is no exception, actually it is one of the most digitalized industries. Interestingly, the financial sector was one of the most stable and conservative industries, but is now facing dramatic changes. This course focuses on the new digital reality that the financial industry faces, including the thousands of FinTech startups that are challenging the stability of the industry, the Internet giants like Apple, Google, Amazon, and Alibaba that are rushing to claim a piece of the pie, the new technologies that fundamentally transform banking processes, and the regulatory changes that force the industry to open up while staying compliant. All these changes must be understood to ensure a prosperous and healthy financial sector. This course will focus on the ways in which digital technologies are changing the rules of competition in finance. Instead of competing only as individual firms, companies compete in ecosystems and through digital platforms.
In response to the financial crisis of 2008, Alan Greenspan remarked: “I made the mistake in presuming that the self-interests of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and the equity of the firm”. The statement is still highly relevant in light of recent scandals across industries, including the financial sector. From the governance perspective, evidence suggests failure across the board – risk management systems, functioning of boards, designation of remuneration and incentives schemes, and effectiveness of supervisory and regulatory bodies. In the theme, we will discuss how corporate governance helps financial institutions deal with these issues. We will do so by combining discussions of corporate governance concepts and empirical evidence with practical examples and business cases. The aim is to equip theme participants with the knowledge necessary to critically analyze the various aspects of corporate governance and contribute to the decisions concerning the governance activities in a corporation.
For more details on the courses and application information click here