Operational Risk Management - Online Course

Register Now

Sep 2017 - TBA On-line

Early Bird Price until 30 Jun 2017 £1200 +VAT*. Regular Price £1400 +VAT*.

We offer 5% discount for a booking of 2 and 10% for 3 people.

Course Description

This is a very practical 8 weeks online course which will cover all the key concepts of operational risk management from risk assessment to operational risk frameworks, processes, testing and controls. 

For detailed programme look here

Course Structure and Dates: 
 
  • Total duration: 8 weeks (Starting from Sep 2017, 1pm to 4pm, UK time)
  • One three hour online session each week 
  • If you cannot attend a session, a recording will be available for you
  • You will be working on case studies between the online sessions
  • You will need a computer and stable internet connection to attend the course
  • You will have access to recorded sessions, if you miss any sessions
  • Optional one hour exam at the end of the course
 
You may be interested in attending our classroom based Mastering Operational Risk course in London on 15-16 May & 12-13 Jul 2017. 

 

What Will You Learn

  • Practical understanding of key operational risk concepts which you can immediately apply in your work environment while you are still on the course
  • Certification of Passing the Exam from Eureka Financial, if you score 80% or more in the exam
  • Networking and collaboration with course participants

Main Topics Covered During This Training

  • Operational Risk Management Framework
  • Operational Risk Management Process
  • Risk Identification
  • Risk Assessments
  • Risk Appetite
  • Control Assessments
  • Control Testing
  • Issues & Remediation Actions
  • Incident Management
  • Risk Monitoring (e.g. KRIs)
  • Facilitating Risk Workshops
  • Risk Culture

Who Should Attend

You will benefit from this course if:

  • You have just taken over a role involving management of operational risk
  • You are considering operational risk management related role/career
  • You have been involved with operational risk management but never attended a structured course
Register Now

Sep 2017 - TBA On-line

Early Bird Price until 30 Jun 2017 £1200 +VAT*. Regular Price £1400 +VAT*.

We offer 5% discount for a booking of 2 and 10% for 3 people.

* 20% VAT applies to UK-based companies and individuals and EU individuals and non-VAT registered companies.

Session 1

  • Purpose of operational risk management
  • Operational risk definition
  • Scope of operational risk management
  • Boundary issues
  • Benefits of operational risk management
  • Utilising risk management frameworks e.g. COSO ERM, ISO 31000 and OCEG GRC Capability Model
  • Key components of an operational risk framework
  • Key activities within an operational risk management process
  • Planned and unplanned triggers for applying the risk management process
  • Understanding uncertainty
  • Identifying risks
  • Discussion on case study
  • Questions & Answers
  • Summarise key learnings from Session 1
 
Session 2
 
  • Recap from Session 1
  • Identifying risks by analysing the internal and external business environment
  • Understanding a risk using cause-effect chain
  • Identifying financial and non-financial impacts
  • Understanding and developing risk chains
  • Developing operational risk categories
  • Commonly used operational risk categories
  • Understanding simple, compliance and complex risks
  • Commonly used techniques for risk identification
  • Human and cultural factors to consider during risk identification
  • Discussion on case study
  • Questions & Answers
  • Summarise key learning from Session 2
 
Session 3
 
  • Recap from Session 2
  • Understanding risk based on level of risk exposure and level of uncertainty
  • Understanding inherent vs. residual risk exposure
  • Defining measures and scales for assessment of risks
  • Commonly used inputs for risk assessment
  • Aligning varying perceptions of stakeholders to develop a common understanding of risk
  • Assessing risks across multiple context e.g. severity, timelines, locations
  • Commonly used risk assessment techniques
  • Commonly used criteria for prioritising key risks
  • Defining and using scenarios
  • Human and cultural factors to consider during risk assessment
  • Discussion on case study
  • Questions & Answers
  • Summarise key learnings from Session 3
 
Session 4
 
  • Recap from Session 3
  • Understanding preventative, detective and responsive controls
  • Common forms of controls
  • Performing cost vs. benefit analysis for new controls
  • Defining layers of controls (e.g. Swiss Cheese Model)
  • Identifying controls which may automatically deteriorate over time
  • Assessing the design and operating effectiveness of controls
  • Control testing
  • Considering new risks which may be introduced by controls
  • Factors to consider when designing and implementing new controls
  • Human and cultural factors to consider when designing and implement controls
  • Discussion on case study
  • Questions & Answers
  • Summarise key learnings from Session 4
 
Session 5
 
  • Recap from Session 4
  • Benefits of defining and implementing operational risk appetite
  • Common definitions of risk appetite
  • Key influences of operational risk appetite
  • Key application of operational risk appetite
  • Key methods to enforce/implement operational risk appetite
  • Understanding risk capacity
  • Understanding risk tolerance
  • Writing criteria for risk appetite statements
  • Process for defining the risk appetite framework
  • Review real-life examples of risk appetite statements
  • Discussion on case study
  • Questions & Answers
  • Summarise key learnings from Session 5
 
Session 6
 
  • Recap from Session 5
  • Understanding the different between a risk and an issue
  • Key aspects to consider for raising and managing issues
  • Key aspects to consider for raising and managing remediation actions
  • Understanding risk and control indicators
  • Defining thresholds for risk and control indicators
  • Understanding the different between a risk and an incident
  • Key aspects to consider for capturing incidents
  • Causal analysis of incidents
  • Utilising external loss incident databases
  • Discussion on case study
  • Questions & Answers
  • Summarise key learnings from Session 6
 
Session 7
 
  • Recap from Session 6
  • Understanding the various stakeholders involved in management of operational risk
  • Three lines of defence and Five lines of defence models
  • Key aspects to consider for defining and distributing operational risk reports
  • Reporting expectations of key stakeholders
  • Examples of key reports
  • Organisational culture vs. Risk culture
  • Risk informed culture
  • Key factors which influence culture
  • Assessing current culture
  • Approaches to change the culture
  • Monitoring changes in the culture
  • Conducting risk related workshops
  • Discussion on case study
  • Questions & Answers
  • Summarise key learnings from Session 7
 
Session 8
 
  • Recap from Session 1 to 7
  • Question & Answers
  • Optional 1 hour exam to test your learning. This will be based on 60 multiple-choice questions and will be done online. To pass the exam you will need to score 80% or more
  • Conclusion

Manoj Kulwal is the Co-Founder and Chief Risk Officer at RiskSpotlight. He is responsible for managing strategic, operational and compliance risks related to the RiskSpotlight business. 

He shares his risk management experience through conducting training courses for organisations such as British Bankers Association, The Global Institute for Risk Management Standards, Eureka Financials & ComplianceOnline.com. 
 
He has 18 years of international professional experience and has been involved in implementation of operational risk management initiatives at large and medium sized organisations. He has been involved on project topics such as operational risk, ERM framework benchmarking, information security risks, risk appetite, risk aggregation, Sarbanes Oxley and regulatory change management. 
 
He is professional member of the The Institute of Operational Risk and supports various initiatives related to developing the discipline of operational risk management globally. He is also member of RM/1 committee at British Standards Institute and is involved in the revision of international risk management standard ISO 31000. He has also authored multiple operational risk management related articles for the Risk Universe magazine. 
 
He has published various risk management related videos on YouTube and you can view them using below links: 
 
A Content Level Comparison of COSO ERM and ISO 31000 – Link
Understanding ISO 31000 definition of risk - Link
Understanding Uncertainty as covered in ISO 31000 - Link
Operational Risk Management - Online Course <p>This is a very practical 8 weeks online course which will cover all the key concepts of operational risk management from risk assessment to operational risk frameworks, processes, testing and controls.&nbsp;</p> <p>For detailed programme <a href="http://www.eurekafinancial.com/courses/261.html#outline">look here</a>.&nbsp;</p> <div><strong>Course Structure and Dates:&nbsp;</strong></div> <div> ... On-line