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GEST-S486

Enterprise-wide and sustainability-wise risk management

academic year
2024-2025
2025-2026

Course teacher(s)

Pierre Poncelet (Coordinator)

ECTS credits

5

Language(s) of instruction

english

Course content

Part I - Enterprise Risk Management

Foundations of Risk Management

Risk Management framework(s)

  • COSO ERM 2017
  • ISO 31000

Risk Management in Practice

  • Implementation methods
  • Assessment techniques
  • Samples of Risk Universes and Risk Maps
  • Internal controls definition
  • COSO Model for Internal Controls
  • Internal Audit Definition
  • Difference between internal audit and internal control
  • Three Lines of Defence Theory (IIA, EC)

Part II - Sustainability Risk Management

  • Fundamentals of climate change
  • Drivers for change
  • Physical vs. transition risks
  • ESG Impact, Risks & Opportunities management
  • Scenario analysis
  • Regulatory frameworks and standards

Objectives (and/or specific learning outcomes)

At the end of this course, students will be able to master the following :

Part I - Enterprise Risk Management

  • Risk identification and taxonomy
  • Risk criteria definition (impact & likelihood)
  • Risk appetite, tolerance and capacity
  • Risk Strategy definition
  • Defining and prioritizing causes, event, consequences (bow-tie)
  • Risk assessment – From inherent to residual risks
  • Key risk indicators and quantitative analysis
  • Risk responses and risk mitigation
  • Report and communicate on risks
PART II - Sustainability Risk Management
  • Understand Climate Change – Basics and fundamentals.
  • Understand sustainability for your organization - Identifying the challenges and factors of sustainable transition.
  • Identify Transition Risks and Physical Risks – Risk management at the heart of sustainable business transition.
  • Apply risk management to Environmental / Social / Governance (ESG) criteria.
  • Climate change and scenario analysis to support the risk analysis
  • The role of Risk Manager within the sustainable transition of its organization
  • Regulatory frameworks and standards for non-financial reporting

Teaching methods and learning activities

Theoretical course and case studies

References, bibliography, and recommended reading

Part I Risk Management

  • « Le management des risques de l'entreprise : Cadre de référence - Techniques d'application», IFACI, Editions d'Organisation, Paris, 2005
  • « Optimiser les risques de l'entreprise », C. Burin & V. Lacolare, Ed. Afnor, Paris, 2011
  • Institute of Risk Managment framework
  • COSO (http://www.coso.org)
  • ISO 31000

Course notes

  • Syllabus
  • Université virtuelle

Contribution to the teaching profile

This UE (Unité d'Enseignement) develops the following competence of the business engineer profile:

  • Ethics awareness
  • Thinking broadly and internationally
  • Project management (group work)
  • Healthy Skepticism
  • Strategic thinking

Other information

Contacts

Pierre Poncelet (pierre.poncelet@ulb.be)

Campus

Solbosch

Evaluation

Method(s) of evaluation

  • Other

Other

Students are evaluated based on 
- their active participation in the course sessions 
- their sumbitted input in case of assigned home work (case studies, special request ...) 
- the results of a written exam (2 hours, mix of questions related to the course matters) 

Mark calculation method (including weighting of intermediary marks)

- their active participation in the course sessions : 25 % 
- their sumbitted input in case of assigned home work (case studies, ...): 25 %
- the results of a written exam (2 hours, mix of questions related to the course matters)  50 %

Language(s) of evaluation

  • english

Programmes