Mastering Operational Risk Management

Register Now

23-24 Jun 2016 London

Early Bird Price until 27 May £1850 + 20% VAT. Regular Price £2095 + 20% VAT. Group discounts: 5% for 2 and 10% for 3 people.

Course Description

Effectively managing operational risks is a critical aspect of business strategy for any financial services organisation. Effective management of operational risks can ensure that your organisation continues to serve its stakeholders while enhancing and retaining their trust. 

Attend this very practical 2 day course to learn about the best current practice in operational risk management. You will learn how to identify and prevent occurrence of risks in the business context, assess risk appetite within your organisation, set up the most effective risk management framework as well as strategies for risk monitoring and reporting. You will also learn about the latest key regulatory requirements affecting operational risk management from Basel II/II and MiFID to Senior Managers & Certification Regime (SMCR), which will commence on 7 March 2016. 

Conducted by an expert with over 18 years of practical experience gained in the City and in major organisations worldwide, this intensive training course explores the best current practices and standards in operational risk management. 

You will consolidate your knowledge through a series of exercises and case studies using real-life business situations.

What Will You Learn

  • Learn about the most effective strategies for managing operational risk
  • Understand specific risks in financial institutions and their impact on operational efficiency
  • Explore operational risk in the context of Basel II, III and other major regulatory requirements including MiFID and Senior Managers & Certification Regime
  • Assess the risk culture and appetite 
  • Place operational risk within broader enterprise risk management and corporate governance structures
  • Gain the tools to implement operational risk management in practice
  • Explore through case studies current best international standards 

Main Topics Covered During This Training

  • Risk management drivers
  • Identifying operational risks and aligning them with business objectives
  • Operational risk management frameworks including COSO ERM, ISO 31000 & OCEG’s GRC Capability Model
  • Impact of major regulations on operational risk management including Basel II / III, MiFID and Senior Managers & Certificate Regime (SMCR)
  • Risks and control assessments
  • Developing and implementing operational risk appetite framework
  • Risk treatment (e.g. controls)
  • Risk Monitoring - implementing key risk indicators and key control indicators
  • Strategies for effective risk reporting
  • Case studies and exercises 

Who Should Attend

From Commercial Banks, Central Banks, Investment Banks, Asset Management firms’ representatives, Pension Funds, Hedge Funds, Leasing companies, Insurance companies, Fund Managers, Other financial institutions 

  • Financial Officers 
  • Risk Officers 
  • Internal Auditors 
  • Operational Risk Managers 
  • Staff with roles and responsibilities in operational risk in risk management departments, businesses and central departments

Course Level: The course is designed for existing Risk Management professionals, both beginners and intermediate, who want to enhance their risk management knowledge and skills.

Register Now

23-24 Jun 2016 London

Early Bird Price until 27 May £1850 + 20% VAT. Regular Price £2095 + 20% VAT. Group discounts: 5% for 2 and 10% for 3 people.

Operational Risk Management & Mitigation - A 2 Day Course

DAY ONE

Introduction to operational risk management

  • Purpose and scope of operational risk management
  • Introduction to frameworks such as COSO ERM, ISO 31000 & OCEG’s GRC Capability Model
 
Risk Identification
 
  • Identifying operational risks which may influence business objectives
  • Identifying causes, risk sources, impacts of operational risks
  • Common techniques for identifying operational risks
  • Categorising and describing operational risks
  • Defining structure of an operational risk register
  • Identifying existing risk treatments (e.g. controls)
 
Case-study - Introduction to the course case-study
 
Exercise to identify risks for the business context covered by the course case
study
 
Risk and Control Assessment
 
  • Common assessment methods for operational risks
  • Defining assessment criteria for operational risks
  • Assessing the likelihood and impacts of operational risks
  • Assessment operational risks using qualitative, quantitative and semi
  • quantitative techniques
  • Assessing operational risks across time, place and location
  • Using scenario analysis technique
  • Assessing collection or group of operational risks
  • Assessing design and operating effectiveness of existing controls associated
  • with operational risks
  • Independent assurance/testing of controls
  • Inherent vs Residual risk assessment
 
Exercise to assess risks for the business context covered by the course case
study
 
DAY 2
 
Operational Risk Appetite
 
  • Developing operational risk appetite framework
  • Developing operational risk appetite criteria
  • Developing operational risk statement and policy
  • Implementing the operational risk appetite framework
  • Monitoring and escalating breach of operational risk appetite
 
Exercise to define operational risk appetite for the business context covered by
the course case-study
 
Risk Treatment (e.g. Controls)
 
  • Identifying risks which require further risk treatments
  • Identifying most effective controls to manage operational risks
  • Implementing collection of controls to overcome deficiencies in individual controls
  • Identifying new operational risks which may be introduced by new controls
  • Performing a cost-benefit analysis for new control
  • Reinforcing control throughout its lifecycle
  • Capturing information about control failures and learning from such failures
 
Exercise to define controls for the business context covered by the course case
study
 
 
Risk Monitoring
 
  • Defining and implementing effective monitoring indicators e.g. key risk indicators, key control indicators
  • Capturing and analysis of loss data related to operational risks
  • Capturing and managing issues related to operational risks and remediation
  • actions to address such issues

 

Exercise to define risk and control indicators for the business context covered by the course case-study

Risk Reporting

  • Criteria for what to include in operational risk reports
  • Examples of operational risk reports
The Course Director has 18 years of international professional experience and has been involved in implementation of risk management initiatives at medium and large sized organisations from UBS to Kuwait Finance House, just to name a few. 
 
His international professional experience includes projects in operational risk, ERM framework benchmarking, information security management, risk appetite, risk aggregation, Sarbanes Oxley and regulatory change management. 
 
In addition to consulting engagements, he delivered risk management related training courses for organisations such as the Risk Management Association, British Bankers Association, The Global Institute for Risk Management Standards and ComplianceOnline.com. 
 
As a recognised expert in the operational risk management area he is regularly requested to speak and contribute to publications on operational risk best practice. He has been invited to join the UK Committee of The British Standards Institute to provide input on the ongoing revision of the ISO 31000 standard.
Mastering Operational Risk Management <p>Effectively managing operational risks is a critical aspect of business strategy for any financial services organisation. Effective management of operational risks can ensure that your organisation continues to serve its stakeholders while enhancing and retaining their trust.&nbsp;</p> <p>Attend this very practical 2 day course to learn about the best current practice in operational risk manage ... London