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Enterprise Risk Management for Gas & Electric Utilities

Deregulation of energy markets and the introduction of competition into the power sector have been main drivers in changing the way companies look at utilities. There has been an increased pressure from the regulatory agencies (SEC), rating agencies (S&P) and now external stakeholders, on establishing sound Enterprise Risk Management practices, resulting in need for robust risk management framework and capabilities. This course will assist you with the tools to do just that!   Learning Objectives & Benefits - Provide attendees with the tools to design and build effective ERM practices that are unique to the utility industry - Illustrate this through case studies and examples, how to implement and integrate risk management processes which positively impact performance - Attendees will benefit from one-on-one interaction with experts in the field, and gain key insights of best practices   ERM is a unique challenge for the utility industry. Regulatory requirements, compliance expectations and the consideration of return on rate base are all factors many other industries do not have to consider.This course will focus on strategies to effectively implement and sustain ERM in Gas and Electric Utilities.

Turning 'Theory' into 'Practice'?

In addition, this course will also provide case study and examples of leading risk techniques in practice. You will also be given the opportunity to work through many of the challenges faced by your own organization in developing and implementing an effective ERM strategy.   This two-day program is designed to provide senior and mid-level managers along with risk and internal audit professionals with a deeper understanding of how to implement effective enterprise risk management (ERM) practices and tailor those practices to their specific utility processes.This course will focus on the unique concept of rate base recovery for utilities and how this factor may impact their ERM initiative. The workshop will provide a unique framework for risk identification and assessments, and provide participants with the tools and insights for aligning risk, strategy and performance of the regulated utility. The instructor will explain what ERM is not, and, based on their experience in assessing ERM practice, will highlight some of the cultural barriers and misperceptions associated with implementing an effective ERM program. The areas of discussion will cover topics such as risk governance, risk acumen, risk appetite, appropriate disclosure and transparency, risk communication and the flow of risk awareness with an organization.

Who should attend?

C-Level Executives, EVPs, SVPs, VPs, Directors, Heads and other Senior Executives- Enterprise Risk Management Officers and Risk Professionals- Internal Audit personnel- Corporate Compliance officers and Legal Professionals- Controllers/Internal Controls & Compliance/IT/Audit- Treasury & Strategic Planning To ensure we meet your expectations and maximize your return on training investment, we favor a classroom/workshop set up for the delivery of our courses. Please note we have therefore limited number of spaces available and these will be assigned on a first come, first accepted basis. We recommend early booking to avoid disappointment.

Key areas to be covered in the programme and documentation

The Key Elements of Effective ERM Strategy – What can Energy Companies learn from other Sectors 

·Key and emerging risk issues for Energy companies

·Methods to conduct effective risk assessment sessions

·Evolution and essential foundations of ERM; current state-of-the-art

·Importance of ERM to the Regulators

·Key enterprise risk management terminology/definitions

·Role of the Board, CRO, CIO, and line management in ERM

·Creating a culture of risk awareness

·How technology complements ERM 

Committing to the ERM Framework

·How the Board delegates key Risk Management Policies and considerations for regulated utilities

·Agreement in principle to proceed

·GAP analysis and then what?Mitigating Regulatory risk

·Framework Design and implementation plan  

Risk Management Policies

·Policies for the ERM framework, processes and procedures tailored to the utility industry

·Policies for risk management decisions: Risk Appetite, Risk Communication and Risk Reporting

·Evolving Regulatory issues within the new ERM paradigm

·Rating Agencies and their ERM assessment process and it’s impact on utilities 

 Integrating ERM with Strategy and Performance

·Understanding strategy and strategic risk, role of leadership and the Board of Directors’ Risk assessment/identification, analysis, and evaluation

·Risk tolerance and key elements of risk governance specific to the utility environment

·Monitoring, review and actions Establishing robust performance metrics, communications and consultation  

Bringing Together All Key Risks in the Company 

·Strategic – Growth/Divestiture/Merger/Acquisition/Expansion/Asset Sale

·Operational – Safety & Reliability/Energy conservation initiatives/maintain a safe infrastructure

·Financial – FERC reporting vs. GAAP reporting and inherent risks

·Compliance – Unique Compliance risks including NERC, FERC, Homeland Security

Monitoring, Review, and Continuous Improvement of the ERM Process

·Responsibility for maintaining and improving the ERM process as the utility evolves

·Approach to risk maturity and on-going improvement of the ERM Framework

Benefits to you

- Understanding the implications of ERM to a regulated utility to ensure shareholder and customer value

- Identifying critical risks associated with the regulated utility business to ensure adequate risk mitigation and optimal rate recovery

- Identifying key and critical infrastructure risks for the utility - Appropriately allocating resources to proper utility functions for effective mitigation - The role of smart grid in your ERM program

- Evaluating the role and importance of the Board of Directors in understanding the nuances of ERM in a regulated environment and enabling adequate ERM integration

- Critical elements for defining risk appetite and tolerance in a regulated environment

- Integrating risk management framework into the utilities strategic planning and cascading that framework to utility operations

- Ensuring better visibility & control over the third party risks

- Embedding risk awareness through out your organization and into the day-to-day decision making process

- Facilitating coordination of ERM processes between all internal initiatives and key compliance processes (e.g., SOX, FERC, NERC, Internal Audit, EH&S, Quality Assurance) through a risk-based approach

- Earn valuable CPE continuing education credits

Companies already benefiting include:

Duration of Course

2 days Day Course

Course details

Pre-course questionnaire: A detailed questionnaire will be sent to all course participants to establish exactly where the group training needs lie. The completed forms will be analyzed by the course leader/trainer and followed by telephone if further clarification is required. As a result we can guarantee that the course is pitched at exactly the right level and that the issues that you regard as relevant are addressed. The course material will reflect these issues and will enable you to digest the subject matter after the event in your own time.  

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Further information

UK Enquiries: +44 (0) 203 002 3057

Non-UK Enquiries: +420 (0)2 5570 7246

North American Enquiries: +1 312 540 3000 X6714 or


"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac