From a managerial perspective, the financial sector is moving from being stable, conservative, closed, and local to being disrupted by new entrants and internet giants with very different industry dynamics and risk profile. Fundamentally, this requires a complete rethinking of governance, strategic risk, and compliance (GRC) issues. The intention is to give participants a strong, skill based, value driven, and ethical foundation for their careers.
This course is a part of the new specialization in Governance, Risk Management and Compliance. The course can be taken separately, as a single course, or in combination with the two other courses constituting the GRC specialization. It is possible to integrate the specialization or the course within the full master degree in Business Development (MBD).The GRC specialization consists of three courses:
Risk Management and Compliance
Governance, Sustainability and Ethics
Digitalization of Finance
Purpose and description of the course
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 analyse the various aspects of corporate governance and contribute to the decisions concerning the governance activities in a corporation.
Key themes in the course
- Governance perspective
- Board work
- Internal control
- Ethical and sustainable management
- Define a corporate governance, sustainability or ethical problem in own organization or other empirical context.
- Apply theories of the course to the analysis of the corporate governance, sustainability or ethical problem
- Critically reflect on the theoretical and practical implications of the analysis.
The specialization is designed for the experienced employee within the financial sector. Employees, including managers, who need to improve and develop their competencies, and who are looking to understand how to integrate their current or future compliance and risk management work within the overall value chain of their company are encouraged to apply. The course can be taken as a single course or as part of a full Master of Business Development.