The Essentials of Managing Operational Risk

This course provides a systematic approach covering the fundamental steps needed to manage operational risks in banks and financial institutions. Based on the three-core approach to operational risk management, it expands into critical issues such as risk analysis, risk appetite, probability, impact, and risk mitigation processes. Because external events are an Operational Risk factor we take a brief look at the COVID-19 pandemic.

Why Should You Attend:

Operational risk is defined by the Bank for International Settlements as the “risk of loss resulting from inadequate or failed internal processes, people and systems or from external events”. These four factors; internal processes, people, systems or external events are exceptionally wide-ranging and cover virtually every element of the operations of banks and financial institutions outside of the credit and liquidity aspects.

Operational risk is intrinsic in all banking products, all banking activities, all banking processes and all banking systems. The effective management of all of these operational risks is a basic part of every financial institution’s risk management program.

Learning Objectives:

• Understand the Basel Accords requirements regarding operational risk.
• Learn operational risk techniques for assessing, managing and mitigating operational risk
• Understand the link between Operational Risk Management (ORM) theory and practice
• Receive guidance in setting-out a clear road-map on how to implement an ORM structure in practice in a banking/financial organization.

Areas Covered in the Webinar:

• Managing operational risk.
• Risk analysis.
• Risk appetite.
• Prioritizing risks based on probability & impact.
• Establishing responsibilities for risk management.
• Mapping risk strategies to categories of control.
• Designing & documenting specific controls.
• Risk measurement metrics.

Who Will Benefit:

• Banks, Community Banks, Financial Institutions
• Financial Officers
• Risk Officers
• Internal Auditors
• Compliance Officers
• Operational Risk Managers
• Heads of business and operational departments
• System developers involved with designing and building banking applications
• Staff with roles and responsibilities in operational risk in risk management departments, businesses and central departments.