This training program will define and discuss the bowtie risk assessment method used to analyze and establish causal relationships in high risk scenarios. Named after the shape of the diagram created, bowties provide an excellent visual representation of the potential causes and consequences of a risk scenario and help ensure that all relevant information is identified and properly assessed.
Bowties can be used during scenario analysis workshops to capture the group’s consensus on probability of the various events that might cause harm to your organization given a certain scenario, and the impact of the identified potential consequences. They are also very helpful in the determination of root causes so that long-lasting solutions can be developed and implemented.
Why Should You Attend:
This webinar will explore how a bowtie diagram can produce a visual summary of all plausible threats that could exist around a vulnerability or risk event, and identify the possible consequences. It also serves to identify control measures and other mitigating strategies developed to reduce the risk of those scenarios to an acceptable level or deal with the consequences should one of the scenarios materialize. Once the control measures are identified, the bowtie method also highlights the ways in which control measures might fail.Bowties can be used during scenario analysis workshops to capture the group’s consensus on probability of the various events that might cause harm to your organization given a certain scenario, and the impact of the identified potential consequences. They are also very helpful in the determination of root causes so that long-lasting solutions can be developed and implemented.
Areas Covered in the Webinar:
- What should go in the middle of a bowtie - identifying the problem/hazard
- Causes - what they should include, and how to use and present them
- Root cause analysis and other techniques
- Consequences and likelihood - constructing a business case for managing the bow-tied risk
- Controls - identifying and linking with action management and risk ownership
- The Swiss Cheese model
- What can be measured in a bowtie - the role of compliance
- When the bowtie model is appropriate
Who Will Benefit:
- Risk Officers
- Compliance Officers
- Internal and External Auditors
- Financial Controllers
- Operations Managers
- Treasurers
- Board Members
- Business Managers
- Investment Managers
Course Provider
Mario Mosse,
