Loss Prevention and Risk Management Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Risk Managers, Finance Managers and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 16 Nov 2026 Course code SD-RM-078

Before you join: Participants should understand basic business processes, financial controls and common workplace risks.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

Losses from fraud, theft, processing errors, safety incidents, supplier failure, cyber events and property damage can erode margins long before they appear in financial reports. Effective loss prevention requires more than controls after an incident: managers need a structured way to identify exposure, assess likelihood and impact, select proportionate treatments, assign accountability and test whether controls work. This course addresses the practical connection between operational loss events, financial reporting, internal control and enterprise risk management.

Participants learn to build and maintain a loss prevention programme using ISO 31000, COSO internal control principles, risk registers, control matrices, incident investigation methods and key risk indicators. They assess fraud and operational loss scenarios, map processes and assets, identify control gaps, estimate financial exposure, set escalation thresholds and prepare response plans. The course also covers insurance decisions, third-party risk, business continuity, loss reporting and management information for risk committees.

Teaching combines focused instructor briefings with realistic cases involving retail shrinkage, procurement fraud, payment errors, warehouse losses, cyber-enabled theft and contractor incidents. Participants work through risk assessments, control design decisions, investigation evidence and management reporting. They leave with a practical loss prevention and risk management toolkit: a risk register, risk and control matrix, incident investigation checklist, loss event report, key risk indicator dashboard and 90-day implementation plan.

The course suits finance, risk, internal audit, security, operations, compliance and control professionals who influence loss prevention activities or own operational risks. It is especially useful for managers responsible for assets, cash, inventory, payments, suppliers, sites or customer transactions.

What you will be able to do

  • Assess loss exposures using ISO 31000 risk criteria and documented risk statements
  • Build a risk register with causes, events, consequences, owners and treatments
  • Design preventive, detective and corrective controls using a risk and control matrix
  • Investigate loss incidents using evidence preservation, root-cause analysis and loss quantification
  • Calculate expected loss and prioritise treatments using likelihood, impact and control effectiveness
  • Develop fraud prevention measures for cash, inventory, procurement and payment processes
  • Create key risk indicators, escalation thresholds and management loss reports
  • Prepare a 90-day loss prevention action plan with accountable owners and milestones

Benefits of attending

For you

  • Produce defensible loss assessments for management decisions and audit discussions
  • Recognise fraud indicators and control weaknesses before losses escalate
  • Lead structured incident reviews without relying solely on security specialists
  • Translate operational loss events into quantified financial exposure
  • Build evidence for promotion into risk, control or assurance responsibilities

For your organisation

  • Earlier identification of theft, fraud, error and asset-loss exposures
  • Clearer ownership of risk treatments, controls and escalation decisions
  • Reduced repeat incidents through documented root-cause and corrective-action processes
  • More reliable loss data for budgets, insurance decisions and management reporting
  • Stronger control evidence for internal audit, regulators and external assurance

Course modules

10 modules over 5 days

Participants can define loss exposures and establish governance for a proportionate prevention programme.

  • Loss categories: fraud, theft, error, damage, interruption and liability
  • ISO 31000 principles applied to loss prevention governance
  • Risk appetite statements translated into operational loss thresholds
  • Three Lines Model responsibilities for ownership, oversight and assurance
  • Distinguishing inherent risk, residual risk and control effectiveness
  • Accountability maps using RACI for prevention and response activities

Participants can identify, describe and assess loss scenarios using consistent risk criteria.

  • Risk statements linking cause, event and financial consequence
  • Process walkthroughs identify exposure points from receipt through reconciliation
  • Asset mapping covers cash, inventory, data, equipment and intellectual property
  • PESTLE scanning identifies external drivers of loss exposure
  • Scenario analysis tests credible fraud, disruption and control-failure events
  • Likelihood and impact scales calibrated with financial loss criteria

Participants can construct a prioritised risk register that supports treatment decisions and reporting.

  • Risk registers record owners, ratings, treatments, dates and evidence
  • Heat maps communicate priorities without concealing rating assumptions
  • Expected loss estimates combine probability, severity and event frequency
  • FMEA scoring ranks failure modes using severity, occurrence and detection
  • Risk aggregation identifies correlated losses across processes and locations
  • Documenting assumptions makes risk ratings reviewable and defensible

Participants can design and document controls that prevent, detect and correct material losses.

  • COSO control activities address identified risks and business objectives
  • Preventive controls stop unauthorised transactions before financial loss occurs
  • Detective controls identify exceptions through reconciliations, reviews and alerts
  • Corrective controls restore operations and prevent recurrence after incidents
  • Segregation of duties matrices expose incompatible authorisation and custody roles
  • Risk and control matrices link objectives, risks, controls and testing
  • Control frequency, evidence and ownership determine operating effectiveness

Participants can assess fraud risks and select controls for vulnerable financial processes.

  • Fraud Triangle analysis considers pressure, opportunity and rationalisation
  • Procurement fraud indicators include bid manipulation, conflicts and split purchases
  • Payment controls address supplier-master changes and invoice redirection
  • Cash handling procedures require custody records, counts and reconciliations
  • Inventory shrinkage analysis separates administrative error, theft and damage
  • Whistleblowing channels support confidential reporting and retaliation safeguards
  • Fraud response protocols preserve evidence and protect investigation integrity

Participants can manage a loss incident from initial notification through root-cause findings and closure.

  • Incident triage assesses safety, evidence, financial exposure and notification duties
  • Chain of custody records protect physical and digital evidence
  • Five Whys analysis traces contributing factors beyond immediate error
  • Fishbone diagrams organise people, process, technology and environment causes
  • Loss quantification separates direct costs, recovery costs and consequential losses
  • Investigation reports distinguish facts, analysis, conclusions and recommendations
  • Corrective action tracking assigns owners, deadlines and verification evidence

Participants can integrate loss prevention measures with continuity and recovery arrangements.

  • Business impact analysis identifies critical activities and maximum tolerable disruption
  • Bow-tie analysis connects threats, preventive barriers and recovery controls
  • Contingency plans define decision authority, communications and alternate procedures
  • Supplier dependency assessments identify single points of operational failure
  • Crisis escalation criteria trigger timely executive and stakeholder notifications
  • Recovery testing validates backup arrangements, manual workarounds and response roles

Participants can assess external loss exposures and determine appropriate risk transfer arrangements.

  • Vendor due diligence reviews financial stability, controls and adverse information
  • Contract clauses allocate liability, indemnity, notification and audit rights
  • Site security surveys assess perimeter, access, surveillance and key control
  • Property risk assessments address fire, flood, equipment and business interruption
  • Insurance retention decisions compare deductibles, premiums and probable losses
  • Claims files require incident evidence, valuations and policy-condition compliance

Participants can monitor loss trends and present decision-ready risk information to management.

  • Key risk indicators provide early warning of deteriorating control conditions
  • Key control indicators track execution, exceptions and overdue remediation
  • Loss event taxonomies enable consistent classification and trend analysis
  • Thresholds and triggers define escalation from operational to executive management
  • Control testing plans sample evidence for design and operating effectiveness
  • Risk dashboards combine exposure, incidents, actions and ownership status
  • Board reports explain changes, decisions required and residual risk

Participants can prepare a practical implementation plan for a priority loss prevention initiative.

  • Gap assessments compare current controls against target risk treatment
  • Treatment plans specify actions, owners, resources, milestones and dependencies
  • Cost-benefit analysis compares control costs with expected loss reduction
  • Change plans address procedure updates, training and supervisory reinforcement
  • Assurance schedules coordinate management checks, audit reviews and follow-up
  • Ninety-day action plans sequence early controls and longer-term improvements
  • Review cycles refresh risk assessments after incidents or material change

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. Loss prevention risk register template
  2. Risk and control matrix template
  3. Fraud risk indicator checklist
  4. Loss incident investigation checklist
  5. Key risk indicator dashboard model
  6. 90-day loss prevention action plan

Who should attend

  • Risk Managers — responsible for operational risk identification, treatment and reporting
  • Finance Managers — accountable for loss visibility, controls and financial exposure
  • Internal Auditors — assessing control design and operating effectiveness
  • Security Managers — reducing theft, asset loss and incident recurrence
  • Operations Managers — managing process failures, inventory losses and site risks
  • Compliance Officers — coordinating fraud, conduct and regulatory control requirements

Skills and tools covered

Loss exposure assessmentControl designFraud risk managementIncident investigationRisk reportingTreatment planning

Tools and standards

ISO 31000, COSO Internal Control Framework, FMEA, Bow-tie analysis

How the course runs

Training methodology

The course uses short instructor briefings to introduce frameworks, followed by case work on fraud, shrinkage, payment error, supplier failure and site-loss scenarios. Small groups assess risk statements, rank exposures, map controls and interpret incident evidence. Simulations test escalation decisions, investigation interviews and risk committee reporting. Participants apply the methods to a selected process or loss concern from their own work, then develop a focused 90-day implementation plan. Instructor feedback links each output to practical accountability, control testing and reporting requirements.

Requirements and prerequisites

Participants should understand basic business processes, financial controls and common workplace risks. Experience in finance, operations, audit, security, compliance, procurement or site management is useful, particularly where the role involves cash, stock, assets, suppliers or customer transactions. Participants should be comfortable reading simple financial reports and discussing process responsibilities. Prior study of ISO 31000, COSO, internal audit or fraud examination is not required. Advanced statistical modelling, insurance underwriting, forensic accounting qualifications and specialist cyber security knowledge are not assumed.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

Participants need basic familiarity with business processes and financial controls. Prior experience in risk management, internal audit or fraud investigation is helpful but not required.

Bring a laptop if possible and a non-confidential example of a process, asset category or recurring loss concern. Course materials and templates are provided.

It is suited to managers and specialists in risk, finance, audit, security, operations, compliance and procurement. It is particularly relevant where participants oversee cash, inventory, payments, sites, suppliers or valuable assets.

Internal audit courses focus on independent assurance, while fraud investigation courses concentrate on detecting and examining suspected misconduct. This course focuses on preventing losses, designing controls, managing incidents and maintaining risk ownership.

Participants can use the risk register, control matrix, incident checklist and indicator dashboard for a priority process or site. The 90-day action plan provides a structured starting point for implementation discussions with managers.

The five days provide approximately 32.5 contact hours, combining ten teaching modules with case analysis, group work and application planning. Sessions run from 08:30 to 16:30, with scheduled breaks.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.

Ask on WhatsApp info@skillsetdevelopment.com

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