Mastering Operational Risk Management
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 20 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.
Mastering Operational Risk Management - A 2 Day Course
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
- 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)
- 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
- 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
- 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
- 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
- Criteria for what to include in operational risk reports
- Examples of operational risk reports
Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.
In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.
Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.
In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).
In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.
Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.
Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.
Dress code is smart casual.
All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.
The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.
We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.
In order to understand your requirements and expectations, we will send you a pre-course questionnaire.
You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.
There are 2 easy ways to register:
- Go to the course of your choice and click Register Now button to fill the registration page
- Email us to email@example.com
After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.
If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.
We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.
We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.
You can pay by:
- Making a bank transfer
- Debit/credit card
- Cheque payable to Eureka Financial Ltd. - only within UK
Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.
If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.
Included in the price of a public course are:
- Course tutorial
- Take away course materials
- Course Certificate
- Lunch on the days of the training as well as drinks and snacks throughout the course
The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.
Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.
If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.
If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.
See our Customer Loyalty Discounts page for more details.
All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.
You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:
For Delegates coming from the EU countries
If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the UK
- You don't make any supplies in the UK
You can find some more information here. In order to claim the VAT you have to fill Form 65.
For the Delegates from Non EU countries
If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
- You're not registered for VAT in the UK and don't have to, or can't be, registered here
- You don't have a place of business or a residence in the EU
- You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
- You don't make any supplies in the UK
If the following rules apply to you, please fill the 65A form and send it to HMRC.
If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 20 working days before the training, you can transfer your booking to another course within the next 6 months for an additional fee of 25% of the full course value. Please note that you can only transfer once.
Alternatively, for cancellations requests received more than 20 working days before the course date we will offer a refund less an administration fee of 10% of the course price.
We regret that no refunds can be given after this period. Non-attendance without any notification will be charged at full rate.
Cancellations must be made in writing and reach our office 20 working days prior to the course date.
Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.
All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.
Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.
Yes, you will receive a Certificate of Attendance at the end of the course you attend.
If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.
It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.
Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.
We will need the following information to issue an invitation letter:
- Full name as it appears on your passport
- Date of birth
- Passport number
- Passport issue date
- Passport expiry date
16 - 17 Mar 2020, London
Register by 31 Jan to save £300
Early bird price £1795
Regular price £2095
5% discount for 2 and 10% discount for 3 people.
This topic can be arranged on in-house basis. If you have a group of 4 or more we can customise it and deliver in any location worldwide. Contact us to discuss your requirements