MGT X439.1 - Cannabis Compliance & Risk Management II

Course Description

This course addresses risk assessment as the foundation of a well-designed risk program. The risk assessment process enables management to better identify and mitigate gaps in a commercial cannabis business’s control of activities. It is sound practice that the risk assessment is formally written and in accordance with a methodology that is easily understood by all relevant parties. In this course, we’ll discover that a risk assessment is a three-step process that measures three indicators, enabling management to analyze risk that may affect business objectives. Each commercial cannabis business will have its own specific methodologies for conducting a risk assessment, however all methodologies will measure the following indicators: 1. Inherent risk: The risks specific to a commercial cannabis business before controls are implemented; 2. Quality of controls: The effectiveness of controls to mitigate risk; 3. Residual risk: The risk remaining after the control activities have been applied to an inherent risk.

Learner Outcomes

Describe the five major commercial cannabis risk areas
Identify the drivers and issues that impact each cannabis risk area
Define the vernacular related to commercial cannabis risk assessment
Define a risk profile

Prerequisites

Applies Towards the Following Certificates

Cannabis Compliance & Risk Management : Required