Risk Management has increasingly taken on a strategic role in many organizations, FIMTAR has designed this program to help board members understand how to respond to the challenge of Risk management. We take participants through each of the essential processes of financial and operational risk management highlighting areas where they must be in a position to challenge the risk management function. We then give considerable attention to the formation of the board’s risk sub-committee, discussing when it should take form, how it should take form and how it should function in relation to the board’s audit committee in particular.