This course helps microfinance institutions develop and improve the quality of their risk management processes. It focuses on problem prevention, early problem identification and control. The course provides guidelines for establishing operational activities that assist the MFI in identifying vulnerabilities, designing and implementing controls and monitoring the effectiveness of controls. The risk management and internal control is linked with the MFI management information system. It also highlights problem resolution as a means for risk management and internal control. The course also offers how internal and external audit could be used to the advantage of the MFI.